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Here ’s the failure letter that Diamond Comic Distributors sent to debtors about the auction bridge .
Article Summary
IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND (Baltimore Division)
In re : Diamond Comic Distributors , Inc. , et al . ,Debtors¹
Case No . 25 - 10808 ( DER)Chapter 11(Jointly Administered )
Re : D.I. 146
NOTICE OF SALE, BIDDING PROCEDURES, AUCTION, AND SALE HEARING
PLEASE TAKE NOTICEthat , on January 14 , 2025 ( the " Petition Date " ) , the above - caption debtor and debtor in possession ( together with , the " debitor " ) file a voluntary orison for relief under chapter 11 of deed 11 of the United States Code ( the " Bankruptcy Code " ) in the United States Bankruptcy Court for the District of Maryland ( the " Court " ) , start out these chapter 11 cases .
PLEASE TAKE FURTHER NOTICEthat , on January 21 , 2025 , the Debtors file away a motion ( D.I. 68 ) ( the " Bidding Procedures Motion " ) seek entry of an order ( the " Bidding Procedures Holy Order " ) ( i ) authorizing and approving bidding routine ( the " Bidding Procedures " ) in connection with one or more sales or dispositions ( collectively , the " Sale(s ) " ) of the Alliance Assets , Diamond UK Assets , and all other assets of the Debtors ( jointly , the " Assets " ) , ( ii ) authorize certain Bid Protections , ( iii ) establishing sure dates and deadline for the sale appendage , ( iv ) scheduling the auction bridge ( the " Auction " ) and the sale auditory modality ( the " Sale Hearing " ) in joining with the Sale(s ) , ( v ) approving the form and manner of observation of the Auction , the Sale , and the Sale Hearing , ( vi ) sanction procedure for the assumption and grant of certain executory contracts and unexpired leases in connection with the cut-rate sale and approve the form and manner of notice thereof , and ( vii ) grant related respite .
PLEASE TAKE FURTHER NOTICEthat , attached hereto asSchedule 1 , is a verbal description of the Assets for cut-rate sale in connection with the Debtors ' proposed sales agreement process .
¹The Debtors in these chapter 11 display case , along with the last four digits of the Debtors ' federal tax recognition numbers , are : Diamond Comic Distributors , Inc. ( 3158 ) ; Diamond UK Holdings , LLC ( 6585 ) . The Debtors ' posting address is : 10150 York Road , Suite 300 , Hunt Valley , Maryland 21030 .
take advantage damage not defined in this posting are used as defined in the Bidding Procedures Motion or the Bidding Procedures , as applicable .
PLEASE TAKE FURTHER NOTICE
Objections to the Sale(s ) or conduct of the Auction . If any , must ( i ) be in writing , ( ii ) state with specialness the grounds for the dissent , ( iii ) adjust to the Bankruptcy Rules and the Local Bankruptcy Rules , ( iv ) be filed with the Court by the Sale Objection Deadline or the Adequate Assurance Objection Deadline , as applicable , and ( v ) be dish out on the following parties : ( a ) purport counselor to the Debtors , Saul Ewing LLP , 1001 Fleet Street , 9th Floor , Baltimore , MD 21202 , Attn : Jeffrey C. Hampton ( jeffrey.hampton@saul.com ) and Adam H. Isenberg ( adam.isenberg@saul.com ) ; ( b ) counselor to the Stalking Horse Bidder , Pepper Hamilton LLP , 1313 Market Street , Suite 5100 , Wilmington , DE 19801 , Attn : Paige N. Topper ( topperp@pepperlaw.com ) ; ( c ) counsel to the DIP Lender , Troutman Pepper Locke LLP , 1111 Market Street , Suite 2300 , Wilmington , DE 19801 , Attn : Jonathan W. Young ( jonathan.young@troutman.com ) ; ( d ) proposed counsel to the Committee , ( i ) Lowenstein Sandler LLP , 1251 Avenue of the Americas , New York , NY 10020 , Attn : Bruce S. Nathan ( bnathan@lowenstein.com ) and Gianfranco Finizio ( gfinizio@lowenstein.com ) , ( ii ) Tydeco Ventures LLC , 300 E. Pratt St. , Suite 901 , Baltimore , MD 21201 , Attn : Marybeth Stephenson ( marybeth.stephenson@tydeco.com ) , and Denis J. Shaffer ( denis.shaffer@tydeco.com ) ; and ( e ) any Successful Bidder(s ) .
CONSEQUENCES OF FAILING TO TIMELY FILE AN OBJECTION
ANY PARTY WHO FAILS TO MAKE A TIMELY SALE OBJECTION OR expostulation RELATED TO THE IDENTITY OF THE SUCCESSFUL BIDDER(S ) ( OTHER THAN THE STALKING HORSE BIDDER ) OR ADEQUATE ASSURANCE OF future tense PERFORMANCE BY THE SUCCESSFUL BIDDER(S ) ON OR BEFORE THE SALE OBJECTION DEADLINE OR ADEQUATE ASSURANCE OBJECTION DEADLINE , AS APPLICABLE , IN conformity WITH THE BIDDING PROCEDURES ORDER , MAY BE eternally BARRED FROM affirm ANY SALE protest , let in WITH RESPECT TO THE TRANSFER OF THE ASSETS complimentary AND CLEAR OF ALL LIENS , CLAIMS , ENCUMBRANCES AND OTHER INTERESTS .
Sale Free and Clear
The Sale(s ) will be free and clear of , among other things , any claim arising from any behavior of the Debtors prior to the ending of the Sale(s ) , whether known or unidentified , due or to become due , infrangible or contingent , inchoate or otherwise , long as such claims come up out of or touch to events occurring prior to the closing of the Sale(s ) . Accordingly , as a consequence of the Sale(s ) , the Purchaser(s ) will not be a successor to the Debtors under any theory of police force or equity , and the Purchaser(s ) will have no liability , except as expressly provided in any Sale Order or Asset Purchase Agreement , for any spleen , claims , encumbrances and other involvement against or in any of the Debtors under any possibility of police , admit successor liability theories .
Obtaining Additional Information
Copies of the Bidding Procedures Motion , the Bidding procedure , the stalk Horse Agreement and all other text file filed with the Court , are available free of charge on the Debtors ' case information site , located at https://dm.epiq11.com/case/diamond-3721 , or can be bespeak by call the Debtors ' claims and noticing agentive role Omni Agent Solutions , at 866 - 751 - 0554 ( U.S. & Canada ) bell free or 818 - 639 - 5749 ( International ) .
unsuccessful person TO ABIDE BY ANY OF THE BIDDING PROCEDURES , THE BIDDING PROCEDURES ORDER OR ANY OTHER ORDER OF THE COURT IN THE CHAPTER 11 display case MAY RESULT IN THE REJECTION OF YOUR BID .
Dated : February 18 , 2025SAUL EWING LLP
By : /s/ Jordan D. RosenfeldJeffrey C. Hampton ( admitted pro hac vice)Turner N. Falk ( admitted pro hac vice)1001 Fleet Street , 9th FloorBaltimore , MD 21202Telephone : ( 410 ) 332 - 8600Email : jordan.rosenfeld@saul.com
-and-
Jeffrey C. Hampton ( take on pro hac vice)Adam H. Isenberg ( accept pro hac vice)Turner N. Falk ( admitted pro hac vice)1500 Market Street , 38th FloorPhiladelphia , PA 19102Telephone : ( 215 ) 972 - 7770Email : jeffrey.hampton@saul.comadam.isenberg@saul.comturner.falk@saul.com
Mark Minuti ( admitted pro hac vice)Paige N. Topper ( admit pro hac vice)1201 N Market Street , Suite 2300Wilmington , DE 19801Telephone : ( 302 ) 421 - 6800Email : mark.minuti@saul.compaige.topper@saul.com
Proposed Counsel for Debtors and Debtors in Possession
Schedule 1
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