Green Ronin Publishing
CREATOR
2 months ago
Project Update: December Update
Hello backers,
At the Diamond bankruptcy hearing last week, there was a major development. When they declared bankruptcy back in January, they chose the restructuring kind (Chapter 11). They have zero employees anymore, however, so obviously no restructuring was going to happen. At the hearing, they announced their intention to convert into a Chapter 7 bankruptcy. That’s the liquidation kind, so we have entered a new phase. We are done dealing with Diamond’s lawyers (hooray!). Now the court will appoint a trustee to liquidate the assets, pay creditors (mostly JP Morgan Chase I’m guessing), and close it all down. There are now more hoops to jump through, but our lawyer believes that ultimately, we will get our stock back free and clear. There are ways this could go wrong, but she considers the odds of the trustee pursuing them to be low. We are waiting to see who the court appoints as the trustee.
Our current plan is to send the Fifth Season RPG to print next month. That’s an update I look forward to writing.
I hope you all enjoy the holidays.
Chris Pramas
Green Ronin
At the Diamond bankruptcy hearing last week, there was a major development. When they declared bankruptcy back in January, they chose the restructuring kind (Chapter 11). They have zero employees anymore, however, so obviously no restructuring was going to happen. At the hearing, they announced their intention to convert into a Chapter 7 bankruptcy. That’s the liquidation kind, so we have entered a new phase. We are done dealing with Diamond’s lawyers (hooray!). Now the court will appoint a trustee to liquidate the assets, pay creditors (mostly JP Morgan Chase I’m guessing), and close it all down. There are now more hoops to jump through, but our lawyer believes that ultimately, we will get our stock back free and clear. There are ways this could go wrong, but she considers the odds of the trustee pursuing them to be low. We are waiting to see who the court appoints as the trustee.
Our current plan is to send the Fifth Season RPG to print next month. That’s an update I look forward to writing.
I hope you all enjoy the holidays.
Chris Pramas
Green Ronin
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