Once critical, Kevin Maguire ‘now cool’ with Valiant

[arghh!]

Not much of an article but I wanted to post something for a change!

http://robot6.comicbookresources.com/20 ... rtainment/" onclick="window.open(this.href);return false;

[BugsySig]

That is all.

[lorddunlow]

… Had a pleasant chat with Valiant CEO Dinesh Shamdasani who gave me all the information I was looking for vis-a-vis Trinity Angels... I am now cool with them.

Translation: Dino said, "we're gonna make it cool this time. So, when you tell people you created Trinity Angels, they won't shake their heads in disappointment."

[MarkRoseHFX]

So actually talking to Dino instead of just making angry posts on the internet actually worked out. imagine that.

[Baramos]

Hasn't it been proven time and time again, in court even, with these artists that they don't actually legally have the rights to these various properties? The most high profile one was the Superman one, I believe, but there have been numerous others.

Saying you should have the rights, well, that is a different story. But it seems like legally most of the time they do not.

[greg]

Hasn't it been proven time and time again, in court even, with these artists that they don't actually legally have the rights to these various properties? The most high profile one was the Superman one, I believe, but there have been numerous others.

Saying you should have the rights, well, that is a different story. But it seems like legally most of the time they do not.

It varies by situation and by who can prove what, but in this case, Acclaim filed Chapter 7 bankruptcy.
Chapter 7 is a "it's all over, all ties are being broken and the company will completely die" type of bankruptcy.
That flavor of bankruptcy is very different from Chapter 11.

Most of the time, companies file Chapter 11 because they're re-organizing and trying to eliminate some debt.

Chapter 7 means the company is dead and everything is going to be liquidated.
Anyone who is owed anything has to make their claim to the courts because the company (Acclaim) is dead.

Once Chapter 7 is over, the new owners literally get everything free and clear because
there is no previous company and because all claims have been handled by the courts
before the new owners are involved. Nothing carries over in a Chapter 7 bankruptcy.

The reason the new owners pay whatever they are paying is because what they're buying is free and clear.
The only reason to pay $X for properties after Chapter 7 is because they're truly yours.
If they weren't, the price would be much, much lower than $X.

The key to the Acclaim discussion is Chapter 7, and how it's not Chapter 11.

[BugsySig]

Hasn't it been proven time and time again, in court even, with these artists that they don't actually legally have the rights to these various properties? The most high profile one was the Superman one, I believe, but there have been numerous others.

Saying you should have the rights, well, that is a different story. But it seems like legally most of the time they do not.

It varies by situation and by who can prove what, but in this case, Acclaim filed Chapter 7 bankruptcy.
Chapter 7 is a "it's all over, all ties are being broken and the company will completely die" type of bankruptcy.
That flavor of bankruptcy is very different from Chapter 11.

Most of the time, companies file Chapter 11 because they're re-organizing and trying to eliminate some debt.

Chapter 7 means the company is dead and everything is going to be liquidated.
Anyone who is owed anything has to make their claim to the courts because the company (Acclaim) is dead.

Once Chapter 7 is over, the new owners literally get everything free and clear because
there is no previous company and because all claims have been handled by the courts
before the new owners are involved. Nothing carries over in a Chapter 7 bankruptcy.

The reason the new owners pay whatever they are paying is because what they're buying is free and clear.
The only reason to pay $X for properties after Chapter 7 is because they're truly yours.
If they weren't, the price would be much, much lower than $X.

The key to the Acclaim discussion is Chapter 7, and how it's not Chapter 11.

Just to add onto Greg's well written, cogent response...It is also extremely unlikely, if however unfortunate, that the courts would grant any individual claims during this process because the assets are more valuable in total. In a bankruptcy it is the court's duty to recoup as much of the debt as possible for the benefit of the debtor and creditors. This is why the often quoted "reversion of rights" clauses are null and void upon bankruptcy, as is any clause that allows a "buy back" of intellectual properties.

[kevinbastos]

I can remember working for a pager company during the late nineties that during the four years I worked for it in the mid to late nineties going through a buyout/bankruptcy every summer. We got the chapter 11 vs chapter 7 discussion nearly every spring.

[Magnus9178]

This is great news, thanks for posting

[KXXX]

I wonder what Busiek has to say....

[lorddunlow]

I wonder what Busiek has to say....

[KXXX]

I wonder what Busiek has to say....

Oh cool Sonic!

[KXXX]

"I am now cool with them"

What a scholar!

[BugsySig]

"I am now cool with them"

What a scholar!

We are talkin about the guys who's self-proclaimed best work is Trinity Angels...

[KXXX]

"I am now cool with them"

What a scholar!

We are talkin about the guys who's self-proclaimed best work is Trinity Angels...

I've never read it, so I'll be forced to assume it's as scintilating and artfully composed as this.

[MarkRoseHFX]

I wonder what Busiek has to say....

[lorddunlow]

There it is. Finally. I was hoping I wasn't going to have to do it once again.

[MarkRoseHFX]

There it is. Finally. I was hoping I wasn't going to have to do it once again.

I got your back homey

[hunter_peterson]

I'm happy about this. I mean, I know that he legally had no claim to anything beyond creator royalties (which I'm pretty sure the creators HAVE been getting), but it's nice to know that Valiant still went out of their way to placate him.

That said, if they DO reboot Trinity Angels, I think he'd be nice for some variant covers, but they should really strip the concept down and start over. While the basic concept is good, the execution was sadly lacking in the original series. I mean, it could be Powerpuff Girls meets Evangelion with backstory similar to the Legend of Zelda... but we got stripperific costumes and pretty boring enemies instead. Hmm...

[nutflush76]

I'm pretty sure Dino just told him that he would be the artist if and when they ever decided to redo Trinity Angels. While in the back of his mind he was thinking: "There is no way in a million years we would ever even want to publish a new spin on Trinity Angels."

[BugsySig]

I'm pretty sure Dino just told him that he would be the artist if and when they ever decided to redo Trinity Angels. While in the back of his mind he was thinking: "There is no way in a million years we would ever even want to publish a new spin on Trinity Angels."

Or maybe it was more like, "Shut the *SQUEE* up before we suit you for defamation."

Or, "You are right, let me send you the $0.12 Trinity Angels made on Comixology. Would you like cash, check or money order?"

[Kertes]

And here's even better news:

http://www.bleedingcool.com/2013/05/31/valiant/" onclick="window.open(this.href);return false;

Kudos to Dinesh and the rest of VEI!

[BugsySig]

And here's even better news:

http://www.bleedingcool.com/2013/05/31/valiant/" onclick="window.open(this.href);return false;

Kudos to Dinesh and the rest of VEI!

*SQUEE* it feels good to be right.

[pixierosa]

Bugsy, are you guys posting this over at CBR (or wherever it was) where the troll followed you here to continue to argue?

This article couldn't have come at a better time, with the launch being so close and the weekly web comic announced.

[BugsySig]

Bugsy, are you guys posting this over at CBR (or wherever it was) where the troll followed you here to continue to argue?

This article couldn't have come at a better time, with the launch being so close and the weekly web comic announced.

I posted it. No responses yet, and I doubt there will be any, from that crew.