A late afternoon submitting within the Diamond Chapter case means that the court docket dominated for Alliance Leisure’s $84 million bid over the mixed Common/Advert Populum bid that was favored by Diamond, in a listening to that started on April 7 and ended on April 8. The information was first reported at Graphic Coverage.
However there might be extra challenges. And extra shock reveals. Within the submitting – which covers an extension of time allowed for collectors to problem the acquisition settlement – it states:
WHEREAS, on April 8, 2025, the Court docket held a continued listening to (the “Sale Listening to”) on the Debtors’ Movement for Entry of an Order (I) Approving the Sale of Considerably The entire Debtors’ Property Free and Away from Liens, Claims, Pursuits and Encumbrances (II) Approving the Assumption and Project of Executory Contracts and Unexpired Leases; and (III) Granting Associated Aid [D.I. 168], at which the Court docket indicated that it was ready to enter an order approving the sale of considerably all the Debtors’ belongings to Alliance Leisure, LLC (the “Sale”), upon the Debtors’ submission of a closing type of order and revised asset buy settlement in step with statements made on the file on the Sale Listening to;
As earlier than “considerably all of Diamond’s belongings” didn’t embody Diamond UK, which Common was attempting to purchase previous to the chapter filings even. However may is be included within the amended APA?
Additionally in a case with this many twists and turns, “a closing type of order and revised asset buy settlement in step with statements made on the file on the Sale Listening to” may simply be legalese, however might additionally imply MORE adjustments to the APA from Alliance.
At any charge, comcis trade Kremlinologists will now return to the interview with Alliance chairman Bruce Ogilvie and scour it for clues to what may occur subsequent – and what is going to occur to the comics facet of Diamond’s enterprise. It’s my understanding that a lot of Diamond’s greatest collectors had been in favor of the Common bid, believing that Common was extra within the underlying comics enterprise. Common, which is predicated in Montreal, has lengthy been involved in increasing into the US to promote extra comics, video games and toys. It seems that they may now should discover a totally different method to increase that enterprise.
