Todd Mcfarlane Files For Bankruptcy

Posted: Wednesday, December 22, 2004
Posted By: Markisan Naso

Todd McFarlane Productions, Inc., has filed for protection under Chapter 11 of the U.S. Bankruptcy Code to continue regular operations, due to the aftermath of a $15 million verdict handed down last July by a St. Louis jury in a lawsuit by retired hockey player Tony Twist over the use of the name of a fictional mobster character.

The filing does not involve and will have no impact on McFarlane Toys, one of the nation’s largest toy action figure manufacturers, or any of the other companies in which Todd McFarlane is an officer.

“Only one company is involved in this action, and it will continue to operate and create comics,” said McFarlane, chief executive officer of Todd McFarlane Productions. Filing for protection under Chapter 11 will enable Todd McFarlane Productions to propose a plan of reorganization while its appeal of the judgment to the Missouri Court of Appeals proceeds. The company will continue to produce comic books, without impact on any customers, partners or fans.

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