Reading how Ledford tries to prevent stakeholders of his failed companies from hurting his new projects is quite amusing. It's amost as good as reading the HardOCP reporting on Phantom (just not quite as extensive and has no pictures of the appartment in question). Seriously though, I cannot see a Texas judge believeing there's no mixing assets between these entities when push comes to shove.

UPDATE: Avatar's comment on JP's post:

Keep in mind that ADV was having extreme financial problems, has laid off virtually all its staff, etc. Rather than license new shows under the old company name, the new shows are licensed under a new company name. This way, if the old company is forced into bankruptcy or liquidation, it doesn’t affect the licensing terms of the new shows (they’re technically owned by a different company, and thus not on ADV’s beleaguered asset sheet.)

ADV’s rented out 210-219 in that building for ages. 216 was the original suite they started with. I used to have an office in 217. If they’re still open in 210, the people that are left must be rattling around in there...

That's what I thought all along, and thought that JP was saying the same, but I guess I didn't follow his argument closely enough.