Diamond Comic Distributor’s Bankruptcy is Lucrative for Lawyers and Consultants

The bills are starting to role in for the lawyers and corporate management consultants hired during Diamond Comic Distributor‘s Chapter 11 bankruptcy. The lesson here is… I’ve clearly gone into the wrong business. For just one month that spans part of January and the month of February, the billing from Saul Ewing LLP and Getzler Henrich & Associates LLC comes out to over $1.4 million. Bankruptcy is expensive!

Saul Ewing LLP is the firm that was hired as counsel to the debtors (aka Diamond) and from January 14 to February 28, 2025, the firm has submitted a total compensation amount of $756,360 (and seem to seeking 80% of it which is $605,088) with amount of reimbursement for expenses of $12,089.77.

Getzler Henrich & Associates LLC which was hired for “interim management services has requested compensation of $799,993.75 for their work and $18,130.15 for their expenses.

That’s a grand total of $1,435,301.67 to $1,586,573.67… for just a month and a half of this drama that has now played out for a bit over 3 months so far with more to go.

There’s a lot of work that goes into a process like this, clearly, and while there’s a lot of focus of what Diamond owes its creditors (aka publishers), there’s far more “cost” than just that as shown above. It’s a bit in the weeds of process, but part of the cost of this that’s often overlooked. We don’t begrudge the amount and people should be compensated for their work but it’s a whole part of this that’s new to us and a fascinating behind the curtains aspect.