'One Life To Live' Producer Can Sell Apple $6M In Tax Credits

Law360, Wilmington (August 25, 2014, 7:49 PM EDT) -- A Delaware bankruptcy judge signed off Monday on the sale of roughly $6 million in Connecticut tax credits to Apple Inc. from Prospect Park Networks LLC, a liquidating Hollywood production company that tried to revive soap operas "One Life to Live" and "All My Children."

The asset transfer was conducted as a private sale under Section 363 of The Bankruptcy Code with Apple set to pay $5.3 million for the tax credits, with the bulk of the money going directly to secured PPN creditor EP Financial Solutions, which had extended a tax credit loan in June 2013, according to court records....

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