The trustee in the Chapter 11 reorganization of Diamond Comic Distributors and related companies has appointed a committee to represent the interests of Diamond's unsecured creditors.  The Bankruptcy Code provides that committee members are recruited (service is voluntary) from among the top unsecured creditors "…of the kinds represented."  In this case, the trustee has named creditors in the comics, book, and toy categories.

The three members of the unsecured creditors’ committee named this week include toy importer Little Buddy Toys, the #10 largest unsecured creditor, owed $694,628; book publisher and distributor Simon & Schuster, the #11 largest creditor, owed $600,145; and comic and graphic novel publisher Titan Publishing Group, the #19 largest creditor, owed $357,417.

The creditors committee does not include some of the largest unsecured creditors, including Penguin Random House, Bandai, and NECA (see "PRH Is Largest Creditor").