A bankruptcy auction for the assets of former literary agency Donadio & Olson will be held on April 19. The agency filed for chapter 7 bankruptcy in December 2018 after being defrauded by their outside bookkeeper, Darrin Webb. Bankruptcy trustee Deborah Piazza will auction off three assets: commissions, judgements, and remnant assets. Since the shutdown of the agency, publishers have paid agency commissions to the trustee, while sending royalties directly to the authors. The trustee’s lawyer, Robert A. Wolf at Tarter Krinsky & Drogin, estimates that the estate has received about $300,000 in commissions, which is used to pay legal and […]
