As the court-appointed receiver of three radio stations tied to Ed Stolz, Larry Patrick was directed by a California federal district judge to move forward with the sale of Stolz’s three FM radio stations licensed to Royce International Broadcasting. The action, the judge said, was necessary in order to provide past-due royalty payments tied to the airplay of music on those FMs.
Then came Stolz’s bankruptcy filing, in a Nevada court. As RBR+TVBR reported in early February, August B. Landis of the U.S. Bankruptcy Court for the District of Nevada — in an oral ruling made on January 31 — paved the way for Stolz to regain ownership of the properties.
Paperwork reflecting the unwinding of a deal engineered by Patrick has now been filed with the FCC.