Digital Domain Media Group Inc. (fka DDMGQ)

[jamesnames]

Shareholders have a chance here. Being unsecured creditors, shareholders will at least be given something. If that ends up being 4 million, that is still 10 cents per share. It could be a lot more than that once you factor in the proceeds from Directors and Officers insurance policies.


http://variety.com/2013/more/news/lawyers-to-laid-off-digital-domain-freelancers-pay-us-or-well-sue-1200194391/


Numerous artists, mainly people who were working remotely for DDMG and were considered independent contractors, have received letters asking them to return any payment they received from DDMG or face the threat of a lawsuit to recover those funds.

The letters are from law firm Brown Rudnick of New York, which represents the court-appointed Unsecured Creditors Committee in the DDMG bankrupcty. Brown Rudnick is trying to claw back any preferential payments DDMG sent out in the 90 days prior to the company’s September 11 bankruptcy. Any recovered fundswould go back into the DDMG bankruptcy estate to be split among all unsecured creditors.