The CrossGen notices are flowing slowly these days.  ICv2 was just notified that the judge in CrossGen's bankruptcy  has issued an order granting CrossGen's request for more time to present its liquidation plan.  The issue is apparently how to dispose of the proceeds from the sale of CrossGen's assets to a Disney subsidiary (see 'Disney Publishing Acquires CrossGen Assets').  The secured and unsecured creditors would all like to maximize their percentage of the $1 million sale price, less the Debtor in Possession financing, which will be paid off first. 


CrossGen has also filed suit against the secured creditors to avoid their liens for failure to perfect against CrossGen's copyrights.  If the secured creditors maintain their priority status, the unsecured creditors will get nothing.