Multiple Objections by Publishers to Diamond’s Consignment Plan Found Deficient and Stricken
We reported earlier that numerous objections filed concerning Diamond‘s plan to sell inventory on consignment were marked as having deficiencies. The problem for all were that they were filed by individuals or the corporation, and at times lawyers not admitted to the court. To fix the issue, as per this particular court’s rules, the publishers needed to hire a lawyer that was admitted to the Maryland Bankruptcy Court, which of course would cost time and money.
Today, there were seven notices striking the objections from the record. That includes objections by Abstract Studio, Graphitti Designs, Molten Core Media/Magma Comix, TwoMorrows Publishing, William M. Gaines, Agent, Inc. (they had two objections stricken), and NBM Publishing.
That leaves about two dozen publishers represented by various entities and in different groups (that we know of) regularly filing motions regarding Diamond’s Chapter 11 process.
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