
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
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The founder of downthetubes, which he established in 1998. John works as a comics and magazine editor, writer, and on promotional work for the Lakes International Comic Art Festival. He is currently editor of Star Trek Explorer, published by Titan – his third tour of duty on the title originally titled Star Trek Magazine.
Working in British comics publishing since the 1980s, his credits include editor of titles such as Doctor Who Magazine, Babylon 5 Magazine, and more. He also edited the comics anthology STRIP Magazine and edited several audio comics for ROK Comics. He has also edited several comic collections, including volumes of “Charley’s War” and “Dan Dare”.
He’s the writer of “Pilgrim: Secrets and Lies” for B7 Comics; “Crucible”, a creator-owned project with 2000AD artist Smuzz; and “Death Duty” and “Skow Dogs” with Dave Hailwood.
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