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Todd McFarlane declares bankruptcy

 
 
Solitaire Rose as Tom Servo
17:58 / 18.12.04
I'd comment, but I'm too busy laughing myself sick.

Oh, I'm a horrible person.

Relevent passage from the article:


The filing also lists McFarlane's toy company, a related business, as the second-largest creditor, being owed $683,902. Nine contract artists are owed about $60,000 and a collection agency is owed about $7,700.

Wanda Kolomyjec, McFarlane's wife and a director of the company, declined comment on the bankruptcy filing.

Todd McFarlane made headlines in 1999 for buying Mark McGwire's 70th home-run baseball for $3 million.

He also paid $450,000 last year to buy Barry Bonds' record 73rd home-run ball at an auction in New York and owns Sammy Sosa's 66th home-run ball.



So, anyone who still believes that McFarlane left Marvel to "stand up for the little guy and champion creator's rights" as he said in 1993? Anyone?
 
 
XXII:X:II = XXX
22:41 / 18.12.04
Interesting that the article makes no mention of the raping he's getting over Neil Gaiman's successful suits over the Angela and Marvelman rights.

I wonder if right about now he's looking up Rob Liefeld's number, wanting to, y'know, get together for old time's sake...

Them balls is lookin' more n' more like the equivalent of the gates of Hammer's house on the "Behind the Music" special of Spawny-guy's rise and fall. Heh, balls.

/+,
 
 
NezZ
11:21 / 19.12.04
I got into Spawn in my very early teen years, so I did enjoy it initially. But after realising what a complete and tepid comic it was, I really am glad he is getting his comeupance. I hope the artists he owes get their money. I would also like to say YAY to Neil Gaiman for the Miracleman issue.

Just goes to show you should not spend your life playing with other peoples balls.
 
 
Sean the frumious Bandersnatch
11:28 / 19.12.04
Did anything ever happen in Spawn? I stopped reading at about issue 60, when I realised that McFarlane was a hack.

He should be fined an extra few thousand for the movie. Lowest point in Martin Sheen's career, yes?
 
 
Haus of Mystery
11:48 / 19.12.04
Dude, it took you til issue 60 to realise he was a hack?!
 
 
Sean the frumious Bandersnatch
11:50 / 19.12.04
Have mercy, Mac Guyver. I was young (well, younger) and stupid (stupider). And, uh, all the cool kids were doing it.
 
 
Mario
14:35 / 19.12.04
Um, Vlad...the lawsuit with Neil had nothing to do with Miracleman.
 
 
ChrisB
15:07 / 19.12.04
Aww. Don't fret. Tony Twist (whoever the fuck that is) might not get 15 million, but he'll still get a tidy sum, and I'm sure McFarlane Toys will get the majority of the money they are owed (the creative accounting for that will be Todd's greatest artistic achievement, I'm sure). Thankfully they will still be able to churn out those totally rad NASCAR figurines.

TMP Inc. will then get a little blotch on their corporate credit rating, a few administrative slaps on the wrist, and be permitted to stay solvent enough to publish many more months of glossy Spawn and Hellspawn toilet rot.

Todd, meanwhile, can stay home, fondle his balls, and dance merrily in the piles of cash his 6 other companies generate while all the small creditors (like the 9 contract artists he is fucking over) get pennies on the dollar.

Yup. Funny shit for sure.
 
 
sleazenation
21:11 / 19.12.04
Correct me if I'm wrong but aren't bankrupts legally prevented from being directors of companies?
 
 
ChrisB
02:55 / 20.12.04
Correct me if I'm wrong but aren't bankrupts legally prevented from being directors of companies?

I think what you are referring to is an "undischarged bankruptcy". We don't have that status here in the States.

Todd is not prohibited in any way whatsoever from conducting any business of any kind in any capacity.
 
 
XXII:X:II = XXX
06:31 / 20.12.04
Sean bantered: I stopped reading at about issue 60, when I realised that McFarlane was a hack. He should be fined an extra few thousand for the movie.

Those two statements are related, you understand; it was just about around #60 that the movie came out, and I think a bunch of us who'd been sticking around for a while out of habit suddenly looked at that piece of crap and realized, Oh, shit, he really has absolutely no vision here, does he? Bam, dropped it like a hot potato, and never went back.

(On the other hand, the animated series was considerably more inspired, but showed up its source material in that it was, by and large, more hardcore than the book had ever been, perhaps because it ripped off Sin City right and left.)

Mario intoned: Um, Vlad...the lawsuit with Neil had nothing to do with Miracleman.

Are you sure? Maybe not THAT particular suit, but surely another. Toddy had the rights to Miracleman, but now Neil does (and we're all still waiting for him to actually, y'know, DO something with them). Were those rights simply one of the ways in which Todd was trying to pay off his debt to Neil? Legalities had to have been involved, even if not simultaneously.

/+,
 
 
sleazenation
07:07 / 20.12.04
Vlad - I thought the situation currently was that McFarlane never actually owned the rights to Miracleman - he just thought he did (he also had a plan to strengthen his legal claim to the character by claiming any ownership of it had lapsed.)

As I understand it, there was a reversion clause in the contract between the consortium of creators from Miracleman's run in the UK comic Warrior and Eclipse comics. The hold up now isdiscovering who owns what percentage of Miracleman and what it will take for them to sell their part of the rights to Miracleman...
 
 
Solitaire Rose as Tom Servo
14:17 / 20.12.04
The Miracleman situation was a mess, and probably should have ended up in courts just to get it all straightened out. Todd McFarlane bought up Eclipse when it went belly up primarily for the Miracleman rights, which he thought were included.

Instead, all he has are things like "The Heap", "Airboy" and "New Wave". And, a good lawyer could make the case that Airboy was public domain before Eclipse started up their series with it, and as such, anyone could use the character.
 
 
SMS
01:47 / 23.06.06
Eugene Volokh of the volokh conspiracy blog thinks this ruling has negative implications, whether or not McFarlane is a hack. Here's his July 12, 2004 post on the subject. Here's his more recent post, commenting on the fact that the Missouri Court of Appeals has just upheld the decision.
 
  
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