Byron Preiss' Ibooks, Inc Files for Chapter 7 Bankruptcy
02/27/2006

Komikwerks is disheartened to report that our business partner ibooks Inc. and Byron Preiss Visual Publications filed for Chapter 7 bankruptcy on February 22nd. Both companies were founded by publisher and friend of Komikwerks Byron Preiss, who died as a result of an automobile accident last July.

For those not familiar with bankruptcy law, Chapter 11 bankruptcies allow companies to reorganize their assets and debts and continue operating. Chapter 7 is a strictly a matter of liquidating the debtor's assets to pay off creditors. The first meeting of the creditors of ibooks and Byron Preiss Visual Publications will be held on April 4, 2006.

In an article published on Science Fiction and Fantasy Writers of America Website, Preiss's widow Sandi Mendelson explained the decision to file for Chapter 7 this way: "In the months after my husband's tragic accident last summer, his companies set out to honor his commitments to his authors and projects and continue his vision in publishing. We very much wanted to go forward in the spirit and direction that Byron believed in; however, it became clear that without his unique creative force driving the companies he created, this was not possible. I know this outcome will be disappointing to many in the publishing community. As you can imagine, this has been an agonizing and arduous decision."

Komikwerks is saddened by this development, and as many familiar with Komikwerks know, our company has had a longstanding partnership with Byron Preiss and ibooks, Inc. ? including the recent Dead Samurai graphic novel by Aron Lusen and our online offering Stan Lee?s Sunday Comics.

The Chapter 7 filing by ibooks, Inc does not affect Komikwerks business on the whole or in day to day operation. All our projects, online and offline, continue to progress and all our collaborators should expect business as usual with Komikwerks.

Our hearts and wishes go out to all those associated with ibooks, Inc. and Byron Preiss Visual Publications.