The afternoon application filed in Diamond Bankruptcy shows that the court ruled the $84 million bid for Alliance Entertainment, more than Diamond’s favored General/AD Populum BID, the hearing began on April 7 and ended on April 8. The news was first reported on the graphical policy.
But there may be more challenges. There are more surprises to reveal. In filing, the document covers the extended time allowed creditors to challenge the purchase agreement – it says:
In view of the motion of orders filed by the Court against the debtor on April 8, 2025 (i) Approve orders to approve the sale of assets of a large number of debtors (i) Continuous hearings (“Sales Hearing”) and breach of lien, claim, interest and title (II) Approve the assumptions and distributions of the execution contract and unincorporated contracts and long-standing debts; (iii) Give relevant relief [D.I. 168]the court stated that the final form of an order and an amended asset purchase agreement at the debtor approved the sale of all debtor assets to Alliance Entertainment, LLC (“Sales”), and was prepared to enter an order to approve the sale of all debtor assets to Alliance Entertainment, LLC (“Sales”);
As before, “basically all diamond assets” exclude Diamond UK, Universal Studios tried to buy even before filing for bankruptcy. But may it be included in the revised APA?
Again with so many twists and turns, “the final form of the order and revised asset purchase agreement is consistent with the statements recorded at the sales hearing” may be legal, but it may also mean more changes to the APA by the league.
In any case, the Kremlin linguists in the COMCIS industry will now return to an interview with Alliance President Bruce Ogilvie and search for clues about what might happen next – and what will happen in the comics aspect of the diamond business. My understanding is that many of Diamond’s biggest creditors favor the universal bid, believing that Universal Pictures is more interested in the basic comics business. Based in Montreal, Universal has long been interested in expanding to the United States for more comics, games and toys. It seems that they must now find a way to expand the business.
