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News: Alessi Pumps $75,000 into CrossGen
posted July 29, 2004
 

July 29 -- The company is gone, but the potential assets remain. Or at least that's the reasoning behind Mark Alessi's $75,000 loan to the bankrupt CrossGen Entertainment as a partial advance against Debtor-in-Possession financing. The $150,000 proposed will keep the assets alive for their full value to be sought, in this case so that CrossGen's many creditors have a better chance at receiving value for the money they're owed.

In addition to being a potential vote of confidence for the value of the CrossGen properties, Alessi's loan is in line with his pre-bankruptcy strategy of giving the company money to help keep it afloat.