Why wouldn't Jules Jordan return "Lisa Ann's masters"? My guess is that they are not hers to demand.
Possibly (a) she presold the rights for an advance from JJV, (b) she pledged them as collateral for a loan from JJV which she has not repaid. I Don't really want to use my UCC search account for this, but there.
That is indeed another possibility to explain retaining the masters, even in the case that they "belong to" Lisa Ann. They belong to her the way a mortgaged house belongs to its putative owner — not until you pay back the money. Good call.
Do Evil Angel and Jules Jordan Video let the directors "own" their back catalog?