Diamond Comic Distributors Chapter 11 Latest – Unsecured Creditors Committee appointed

Diamond Comic Distributors

The trustee in the Chapter 11 reorganisation of Diamond Comic Distributors and related companies has appointed a committee to represent the interests of Diamond’s unsecured creditors, including representatives for London-based Titan Publishing, part of the Titan Entertainment Group that owns Forbidden Planet and Titan Comics.

As we previously reported earlier this month, Diamond Comic Distributors, Inc. and certain of its affiliates (collectively, the “Debtors”) each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Maryland. The cases are pending before the Honourable David E. Rice.

A Meeting of Creditors is scheduled for 19th February, with proceedings continuing through to July.

Milton Griepp at ICV2 notes the US Bankruptcy Code provides that committee members are recruited (service is voluntary) from among the top unsecured creditors “…of the kinds represented.”  In this case, the trustee has named creditors in the comics, book, and toy categories.

The three members of the unsecured creditors’ committee named this week include toy importer Little Buddy Toys, the tenth largest unsecured creditor, owed $694,628 (£559,182); book publisher and distributor Simon & Schuster, the 11th largest creditor, owed $600,145 (£483,016); and comic and graphic novel publisher Titan Publishing Group, the 19th largest creditor, who are owed $357,417 (£287,649).

The creditors committee does not include some of the largest unsecured creditors, including Penguin Random House, Bandai, and NECA.

• Diamond is online at diamondcomics.com

Diamond established an information line for interested parties: 866-771-0556 (US & Canada toll free) and 818-639-4849 (International). You can also send an email to DCDInquiries@OmniAgnt.com

The bankruptcy cases are pending before the Honourable David E. Rice in the District of Maryland, and are being jointly administered under case number 25-10308. The court documents are here



Categories: British Comics, Comics, downthetubes Comics News, downthetubes News, Other Worlds, US Comics

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