Cochran Files Bankruptcy on Eve of Trial

Connor Cochran and his companies filed Chapter 11 bankruptcy on January 4, one day before trial was scheduled to begin in Peter S. Beagle’s lawsuit against his former manager.

Beagle sued Cochran in 2015 for $52 million in damages, disgorgement of illegal gains and restitution, and dissolution of two corporations he co-owns with Cochran, Avicenna Development Corporation, and Conlan Press, Inc.

Cochran filed with United States Bankruptcy Court for the Northern District of California. The details are public record. Cochran listed these as the largest unsecured claims against him:

$626,558  Rimon, PC – Legal fees
$500,000  Peter S. Beagle – Pending litigation (est.)
$400,000  Justin Bunnell – Judgment (*)
$ 83,592  Gloria Cheng – Property settlement
$ 24,915  Kathleen Hunt – Court-assessed fee
$ 20,000  Law Office of James R. Thompson – Legal fees
$  7,800  Son-Rise Property Management – Residential lease

Plus ten personal loans of $5,000 or less, and miscellaneous other small debts and claims.

(*) The Bunnell judgment relates to an investment by Sandbox LLC, a California partnership, and Justin Bunnell in The Last Unicorn screening tour launched in 2013. Projected for more than 150 different cities, Cochran and Beagle drove to tour destinations in a car loaded with stuff for sale. To quote the Bunnell complaint —

Specifically, on or around February 15, 2012, Defendant Avicenna and Plaintiff Sandbox entered into a written joint venture agreement whereby, in exchange for Sandbox’s remittance of Three Hundred Thousand Dollars ($300,000.00) to Defendants, Defendant Avicenna agreed to, among other things, oversee the distribution and marketing of the Picture through a “special limited release film tour” and remunerate Plaintiff, at a minimum, Four Hundred and Fifty Thousand Dollars ($450,000.00) and, thereafter, twenty-five percent (25%) of all profits derived from the the film tour and/or the exploitation of the Picture (the “Joint Venture Agreement”).

Commenting on the bankruptcy filing, Beagle’s attorney Kathleen Hunt said —

My favorite document so far is the one claiming that Connor has had literally $0 income for the past six months. (Presumably this is justified in his mind because the $ went to the companies, and he didn’t transfer it to his personal bank account – he just used the company bank accounts as if they were his personal accounts.)

She says the bankruptcy has put the lawsuit “trial on hold for awhile.”

[Thanks to Cat Eldridge for the story.]

4 thoughts on “Cochran Files Bankruptcy on Eve of Trial

  1. I certainly hope this matter is resolved soon, and in favor of Peter S. Beagle! Mr Beagle has suffered enough, it is time he was recompensed.

  2. Pingback: Bankruptcy filed by Connor Cochran – alert for anyone awaiting merchandise from Conlan Press. | FANS AGAINST FRAUD

  3. I accepted a pingback from “Fans Against Fraud” and I would like to take exception to one of the statements in that post:

    “One thing he got out of it was, as File770 reported, running personal expenses through corporate accounts while living off the Beagle name.”

    What File 770 reported was a quote from Beagle’s attorney saying Cochran did that. File 770, which I edit, does not have access to financial information to evaluate that claim.

  4. So sorry that Peter has to go through all this again, but very glad he has opened the floodgates anf published three new books in his seventies!

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