Posted in: Black Mask Studios, Comics, Dark Horse Comics, Dynamite, Fantagraphics, Oni Press, Titan, Valiant, Vault | Tagged: , , , , ,

Consignment Group Joins In With Ad Hoc's Filing Against Diamond Comics

The Consignment Group joins in with Ad Hoc's filing regarding the Diamond Debtors Vs Ad Populum/Sparkle Pop motion in the bankruptcy case

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The Diamond Comic Distributors Chapter 11 bankruptcy case continues to barrel down the road ahead of the next major hearing at the end of the month. To recap, Diamond Comic Distributors declared Chapter 11 bankruptcy at the beginning of the year. Ad Populum/Sparkle Pop bought Diamond's comic book business, while Diamond Comic Distributors Inc, the debtor, is a separate entity in this bankruptcy action. So the body known as Diamond Comic Distributors Inc, the debtor, is trying to liquidate the stock of comics that Sparkle Pop didn't buy, because they were held on consignment, still owned by hundreds of publishers. The Diamond Debtors have been trying to get court approval to liquidate them to pay off the bank JPMorganChase, which is funding the bankruptcy. But Sparkle Pop, it seems, has been selling them, anyway. Diamond Debtors has been asserting in legal papers that Sparkle Pop should stop this. And the publishers – via the Ad Hoc Committee, representing Ablaze, American Mythology Productions, Avatar Press, Battle Quest Comics, Action Lab, Drawn & Quarterly, Fantagraphics, Green Ronin, Hermes Press, Living the Line, Paizo, Udon and Zenescope, with more on the way – made their own objection, as previously covered by Bleeding Cool to Sparkle Pop's sales, but also to the Diamond Debtors, pointing out that the publishers own those comics, not the debtors.

Now, the other comic book publishers league, The Consignment Group, representing Dark Horse Comics, Dynamite Entertainment, Aspen, Black Mask, Dstlry, Heavy Metal, Magnetic, Massive, Oni, Panini UK, Alien Books, Graphic Mundi, Titan, and Vault, has decided that they like the Ad Hoc Committee's filing so much that they want in.

In a new filing, the Consignment Group says that "The Consignment Group by and through its undersigned counsel, hereby joins in the
Ad Hoc Committee of Consignors Limited Objection to Debtors' Motion (I) to Enforce the Automatic Stay (II) to Enforce the Sale Order and (III) Granting Related Relief"

But over and above that, they have also requested that Sparkle Pop provide "a detailed list of any consignment stock sold by Sparkle Pop, identifying the publisher, title, quantity, date of sale, sales price and proceeds such that all consignment stock sold can be fully accounted."

 

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Rich JohnstonAbout Rich Johnston

Founder of Bleeding Cool. The longest-serving digital news reporter in the world, since 1992. Author of comic books The Flying Friar, Holed Up, The Avengefuls, Doctor Who: Room With A Deja Vu, The Many Murders Of Miss Cranbourne and Chase Variant. Lives in South-West London, works from The Union Club on Greek Street, shops at Gosh, Piranha and Forbidden Planet. Father of two daughters, Amazon associate, political cartoonist.
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