From www.nbr.co.nz – Liquidators of Steve Crow’s Vixen Direct and Erotica Expo will be reviewing the sale of the companies’ assets to Eden Digital.

www.adultfyi.com/read.php?ID=35984

Vixen Direct, now known as Z4KZ4D, and Erotica Expo, which has been renamed Malibu Media were put into liquidation at the start of last month. Prior to the liquidation the companies’ assets were sold to another CVC Group-owned company Eden Digital.

Lloyd Hayward, of accountants Meltzer Mason Heath, said as liquidator of the two companies they would be reviewing transactions prior to the liquidation of the company.

He refused to comment on what creditors could expect to receive back when the liquidation process was completed but indicated this would all depend on the outcome of the review.

Unsecured creditors of Vixen Direct are owed $262,000 while those of Erotica Expo are owed around $145,000.

As neither company has any assets and their bank account balances total less than $800 it is unlikely creditors will see much return.

Liquidator’ reports said the failure of the DVD business was as a result of piracy and parallel importing of product while a downturn in attendees at expos and hurt Erotica Expos bottom line.