Posted in: Comics, Current News | Tagged: auction, diamond

Diamond Comic Distributors Auction Set For 24th Of March In New York

The auction of Diamond Comic Distributors' assets is set for the 24th of March in New York City

Published Thu, 13 Feb 2025 13:57:08 -0600

Article Summary

Diamond Comic Distributors' auction to occur March 24th in NYC at Raymond James & Associates.
Key dates: Bid Deadline March 19th; Sale Objection Deadline March 14th; Auction March 24th.
Potential buyers must submit Qualifying Bids and attend the auction in person or via representative.
Sale Hearing scheduled for March 27th; objections must follow strict guidelines and deadlines.

It's time. Or rather, it will be in five weeks. The auction of Diamond Comic Distributors, in the light of its declaration of Chapter 11 bankruptcy, will be held at the offices of Raymond James & Associates, Inc., 320 Park Avenue, 12th Floor, New York. Here's a brief calendar of some of the more important moments in the run-up to it.

Diamond Assets For Sale, Including Free Comic Book Day — 320 Park Avenue, New York, Google Maps screencap

Bid Deadline – 19th of March, 5 pm ET, the deadline by which all Qualifying Bids (except a credit bid by the Lender) must be actually received by the Debtors and their advisors.
Sale Objection Deadline – 14th of March, 5 pm ET. Any and all objections to a Sale of the Assets and entry of a Sale Order must (i) be made in writing; (ii) state with particularity the grounds for the response or objection; (iii) conform to the Bankruptcy Rules and the Local Bankruptcy Rule. Any party or entity that fails to timely make an objection to the Sale on or before the Sale Objection Deadline may be forever barred from asserting any objection to the Sale, including with respect to the transfer of the assets free and clear of all liens, claims, encumbrances, and other interests.
Deadline for Debtors to Designate Qualifying Bids and Baseline Bid – 21st of March, at 1 pm ET,
Auction – 24th of March at 10am ET at the offices of Raymond James & Associates, Inc., 320 Park Avenue, 12th Floor, New York, New York 10022. Each Auction Bidder must attend the Auction, either on its own behalf or through a duly authorized representative with power to bind such Auction Bidder at the Auction;
Adequate Assurance Objection Deadline for Successful Bidder other than the Stalking Horse Bidder – 25th of March, at noon ET.
Debtors' Deadline to Reply to Sale Objections (other than Adequate Assurance Objections) – 25th of March, at noon ET.
Sale Hearing (subject to Court availability) – 27th of March 27, at 10 am ET.