In a new filing in the Callaway Arts & Entertainment bankruptcy case, founder Nicholas Callaway claims that the Covid-19 pandemic and “predatory lenders” are the causes of the company’s debt. The company filed for Chapter 11 Bankruptcy in U.S. Bankruptcy Court for the Southern District of New York at the end of March, revealing six- and seven-figure debts to Hachette Book Group, Bob Dylan, and others. The new filing states that each Callaway book “takes years to develop” and “each published work is a piece of art in and of itself.” Someone must pay for this art; apparently independent lenders […]
