Tom Spurgeon's Web site of comics news, reviews, interviews and commentary

Home > News Story and Obituary Archive

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.