... U.S. Bankruptcy Judge Brendan Linehan Shannon today called the sale timeline requested by Digital Domain “unprecedented” at a hearing in Wilmington, Delaware. To win approval to hold an auction on Sept. 21, 10 days after filing for bankruptcy, the company would have to present Shannon with evidence “that I don’t know that I’ve ever seen,” he said.
He asked the company to discuss the auction schedule during a break in today’s hearing before Digital Domain began presenting its case. ...
And speaking of upcoming court proceedings.
... A former employee of Digital Domain Media Group has filed a class-action lawsuit seeking 60 days of pay and benefits for all the workers laid off when the firm closed its doors.
According to a complaint filed Tuesday on behalf of Minh-Tam Frye of Port St. Lucie in the U.S. Bankruptcy Court in Delaware, Digital Domain employees had not been given 60 days' advance written notice before their termination as required by the federal Worker Adjustment and Retaining Notification Act, also known as the WARN Act. ...
Of course, the company needs to have money in the till to pay people who have already rendered services, doesn't it? We hope that there's enough for the suddenly former employees who were working diligently on this project and that until ... oh ... a couple of days ago.
I don't have a great feeling about this.