Porn Valley- Here’s the story with Jill Kelly. IVD has taken over the Jill Kelly operation. And Kelly and an attorney from Las Vegas are attempting to form a new company called Bad Intentions. The inside snitches at JKP that were linking all the inside info were a former employee who was a production manager and his girlfriend who’s still with the company. Salesman Mike Barbella handed in his resignation, and Dan Ice, who was running the company, has also taken off. Ice stays on the company’s board of directors.
Barbella and Ice both made the decision to leave together. IVD acquired all the receivables. IVD also on Friday foreclosed on their 15 million shares in the company as well as on the receivables. IVD will be picking up all the masters and all the product from JKP. Customers of JKP are receiving letters indicating that they must make all payments to a company called Alliance, which is holding all the JKP notes at 80% on the dollar.
Attorney Philip Star and Jill Kelly are also back in the company. Star and Kelly fired all the college employees. Star, who was first brought in, in an attempt to oust Bob Friedland, has put himself on the payroll for $4,000 a week. Star has been described as some “nobody attorney from Vegas” who’s a martinet, plops his feet up on a desk, drives a 17 year-old car, wears no socks and white button-up dress shirts with collars pulled straight up. Star also wears hair dye.
Star, who’s been compared to a Regan Senter with a law degree, apparently hooked up with Kelly; and Kelly is using him as an advisor. Kelly signed some documents allowing Star to be on the board of directors. Star and Kelly have been working for weeks to wrest control of the company from Dan Ice after Bob Friedland took off. And IVD was fighting to acquire the whole line from Ice. At some point in time Ice realized he was in the middle of a losing battle and there was no way to keep IVD out of this takeover scenario.
Ice has resigned and the JKP company will be bankrupt. Star, this past Wednesday, announced that he was turning the operation over to Star, that he had been forced out. Ice began handing out checks telling employees that the checks were all good and would clear. Ice then announced he was on a plane and leaving Thursday. With Ice’s announcement, Barbella immediately began packing his belongings.
Kelly will re-open the company, which was $3 million in debt, as Bad Intentions. Kelly will be taking $5,000 a week for herself.
At present JKP is selling comps at new release prices. All the editors have been fired as well.