Judge Alexander Paskay of the U.S. Bankruptcy Court of the Middle District of Florida, Tampa Division, has issued an order giving CrossGen another 60 days to file its liquidation plan. According to the motion for the extension, CrossGen needs more time to pursue a settlement of contested claims of secured creditors.
The assets of the company were acquired for $1 million in November (see 'Disney Publishing Acquires CrossGen Assets'); about $970,000 remains after payment of the breakup fee and some expenses.