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Diamond Distributors Asks Bankruptcy Court For Ownership of Publishers' Consignment Inventory [UPDATED]
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<blockquote data-quote="Staffan" data-source="post: 9820720" data-attributes="member: 907"><p>Seems there have been some developments. <a href="https://graphicpolicy.com/tag/diamond-comic-distributors/" target="_blank">Graphic Policy has been keeping up with things</a>, which has mostly been a bunch of legal motions tossed back and forth... but now Diamond has changed from Chapter 11 bankruptcy ("Get off our back while we sort things out and try to fix things") to Chapter 7 ("OK, we're broke and are having a fire sale on everything to pay off as much as we can, starting with lawyers and banks and then we'll see if there's anything left for peons.")</p><p></p><p>According to this video from Roll for Combat, a deal was close where the consignors would be allowed to buy their books back (presumably for a low price), but now with the switch to Chapter 7 that's off the table. Best case scenario appears to be that the new judge decides that it's not worth fighting the consignors over ownership and allows them to pick things up, but at their own expense.</p><p>[MEDIA=youtube]1cekfXcVCKE[/MEDIA]</p></blockquote><p></p>
[QUOTE="Staffan, post: 9820720, member: 907"] Seems there have been some developments. [URL='https://graphicpolicy.com/tag/diamond-comic-distributors/']Graphic Policy has been keeping up with things[/URL], which has mostly been a bunch of legal motions tossed back and forth... but now Diamond has changed from Chapter 11 bankruptcy ("Get off our back while we sort things out and try to fix things") to Chapter 7 ("OK, we're broke and are having a fire sale on everything to pay off as much as we can, starting with lawyers and banks and then we'll see if there's anything left for peons.") According to this video from Roll for Combat, a deal was close where the consignors would be allowed to buy their books back (presumably for a low price), but now with the switch to Chapter 7 that's off the table. Best case scenario appears to be that the new judge decides that it's not worth fighting the consignors over ownership and allows them to pick things up, but at their own expense. [MEDIA=youtube]1cekfXcVCKE[/MEDIA] [/QUOTE]
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Diamond Distributors Asks Bankruptcy Court For Ownership of Publishers' Consignment Inventory [UPDATED]
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