Posted in : Comics , Current News| Tagged : AENT , bankruptcy , baseball field
The twenty-four hour period after that Diamond Comics Distributors bankrutpcy court sense of hearing … what ’s kick the bucket on right now ? And why ?
Article Summary
Yesterday , ascertain the Chapter 11 Bankruptcy of Diamond Comic Distributors get its post - auctioncourt earshot with the Honorable Judge Ricein Courtroom 9 - D at the United States Bankruptcy Court for the District of Maryland at 10 am . It was intended to ensure the legality of the bid and the process . But theevents of the past few days made that faw more ill-chosen . The winning bidder in the auction , music / DVD / merch distributor Alliance Entertainment , was then rejected by the debtor of Diamond in favour of a small combined bid from Canadian comics distributer Universal Entertainment and tonic culture manufacturer and licensor Ad Populum , which would split the assets of Diamond Comic Distributors between them .
I understand that some debitor may have favoured the Universal Distribution / Ad Populum joint tender because Universal ’s business concern architectural plan is closest to Diamond ’s and might guarantee a smooth changeover of comics distribution to the verbatim market place , which might be in the future interest of the debtors . Alliance Entertainment has a very different business plan , as evince in a now - famous podcast , and may change the type of product made available through them . But that did not seem to be a factor in the auction process , and now Alliance Entertainment is suing over the post - auction change .
The court case did not reason yesterday . Today it will continue with closing comment made by both side before being handed off to Judge Rice to make a decision , though the timeline for that is not set and could just take … as long as it takes .
The first sound listening of Alliance Entertainment ’s charge against Diamond Comic Distributors will be held on the 28th of May . The lawsuit against Diamond Comic Distributors will have a virtual hearing at 10 am on that day . That is , of row , if all this ca n’t be settled before then .
Enjoyed this ? Please share on societal media !
