Monday, August 02, 2004

Okay had to post this

I don't see anyone else having covered this, so thought I'd point it out:

Tampa Bay Business Journal covers CrossGen Bankruptcy

Interesting tidbits:

CrossGen Entertainment Inc., an Oldsmar comic book publisher that once was a leader in its industry, had $50 in cash when it filed for bankruptcy June 18.

Debts are estimated between $10 million and $50 million, but the company said it has only $1 million to $10 million in assets.

The company has asked the court to let it pay Alessi $10,000 a month and Hernandez $5,833 a month in salaries, saying they are integral and their employment offers the best chance to sell assets and pay creditors. United States Bankruptcy Court Judge Alexander Paskay has not yet ruled on the motion

Gotta "love" company back door dealings!

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