When last we checked in on the slow death of Gazillion Entertainment, the former Marvel Heroes studio was scheduled for a day in court on Feb. 23 to determine how its involuntary bankruptcy claim would be handled. That date was postponed to March 30, and the statement came down from the judge on Monday, April 2: Gazillion will enter Chapter 7 bankruptcy.
According to my AP Stylebook, Chapter 7 bankruptcy’s purpose “is to achieve a fair distribution to creditors of the debtor’s available non-exempt property” and to provide “a fresh financial start for individuals.”
The three creditors listed in the bankruptcy filings are the same three names we initially found linked to the proceedings: Playchemy Inc.’s Ed Annunziata, Secret 6’s Ronald Shaffner, and former Gazillion Associate Producer Caitlin Capes, whose current position is Content Production Assistant at Crowdstar. Former Gazillion CEO David Dohrmann apparently personally attended the hearing in northern California’s bankruptcy court.
This will likely be the last we hear about the Gazillion saga, unless something else crazy happens. The court order is reprinted below.