We got the answer to one of the motions in today’s hearing. The Judge has approved the sale of Diamond UK.

In July, a motion was submitted to sell the shares of Diamond UK that Comic Exporters and Comic Holdings hold in Diamond UK. Diamond UK was not part of the assets purchased by Universal Distribution and Sparkle Pop in the initial sale of assets during the proceeding. Diamond has been working to sell the rest of its assets.

Diamond UK is being sold for $2.1 million, with the motion calling it a “heavily-negotiated purchase price” with a $200,000 deposit made in good faith.

The purchaser is an entity formed by members of the UK-based management team of Diamond UK. None of Diamond’s officers or directors are part of the ownership group of the newly formed entity.