Bandai Namco submits an “Objection” to Diamond Comic Distributor’s sale

Early today it was announced that the United States Bankruptcy Court for the District of Maryland has scheduled a hearing for Monday, April 7, to consider Diamond Comic Distributor’s request for the approval of the sale of the company to Alliance Entertainment through the bankruptcy process. Bandai Namco has submitted a “reservation of rights and limited objection” to the approval of the sale.

Bandai is owed $4,292,620.24 according to the filing and “out of abundance of caution” filed a Reservation of Rights pending review of the final sale order and any amendments to the purchase.

They have staked their right to object to the “Sale Motion and the Sale Order on any factual or legal basis,” “to appear
and be heard by the Court with respect to the Sale Motion and Sale Order,” and “grant such other and further relief as may be just and property.”

What seems to be new information from the filing, Universal Distribution might have submitted a higher bid than Alliance Entertainment who was awarded the win. There are questions of how fair the process was in Bandai’s filing. While there were rumors of higher bids, this is the first naming of who that we’ve seen.

Bandai isn’t the first to file an objection. Image Comics and Pokémon Company International both have previously filed their concerns.

You can read the full filing below.