"Hello everyone, here is n instant entertainment news. Starting from the end of June, due to the great success of the 2D animated film "The Lion King", the popular Disney animation department and the parent company Firefly Group had huge differences in the development strategy of animated films. Subsequently, the dispute showed signs of intensification. On Monday, the Firefly Creditors Alliance initiated by the famous Wall Street investor Ron Perelman suddenly put pressure on the Firefly Board of Directors to obtain two creditor directors seats on the board of directors. The Firefly Creditors Alliance's request was soon publicly supported by Disney animation department. Peter Schneider, head of Disney animation department, said that introducing creditor directors can better supervise the management and operation of Firefly Group, preventing major shareholders from arbitrarily and arbitrarily, and harming the common interests of tens of thousands of employees of small shareholders, creditors and Firefly Group."

A small cocktail party was being held in a mansion in Beverly Hills. Ron Perelman, Roy Disney, and Peter Schneider, who attended the cocktail party, were shaking their goblets in their hands, staring at the TV set that was specifically placed on the open-air venue and seemed to be waiting for something.

On the TV screen, the host briefly explained the news and then continued: "After the box office of the Lion King broke the box office record of American local animated movies last week, the Firefly spokesperson publicly stated that it would hold a grand celebration party for "The Lion King" at the Sunset Tower Hotel in Hollywood today. The industry generally speculated that the party was held to represent the Firefly Group's start to compromise with the Disney animation department, but this afternoon, all employees of the Disney animation department issued a statement in the Los Angeles Evening News. In order to support the Firefly Creditors Alliance to join the Firefly Board of Directors. All employees of the Disney animation department will refuse to attend the party. It is now 19:15 Western Time. What is the specific situation? Please see the live report sent by our reporter from the Hollywood Sunset Avenue..."

The TV screen cut to Los Angeles, which was already sunny, and the N-joined reporter standing in front of the Sunset Tower Hotel with a microphone in hand said: "Hello host, Hello, audience friends, we can see that the Sunset Tower Hotel, which should have been lively, is actually no different from the past, fifteen minutes ago. A Firefly spokesperson announced the emergency cancellation of the "The Lion King" celebration party tonight. However, before seven o'clock, the cars of the Firefly high-risers such as Eric Williams, Jeffrey Carsonberg appeared in the parking lot of the Sunset Tower Hotel. We guessed that this was the final struggle of the Firefly high-risers, but obviously, this effort ended in failure. So far, we have not found any senior executives and employees of the Disney animation department appearing at the Sunset Tower Hotel."

Looking at the Sunset Tower Hotel, which was neglected on the TV screen, Peter Schneider suddenly felt a little worried about whether he had done too much. He was not worried about offending Eric. Even if he left Fireflies, he felt that he could find his next home. But the current situation did not seem to be of much benefit to his own interests.

Roy Disney, who noticed Peter Schneider's change in expression, patted him on his shoulder and said, "Peter, think about how Eric Williams has treated us in the past two years. Moreover, as long as Ron and the others get two board seats and Disney animation continues to be profitable, we don't have to worry about anything."

Ron Perelman, who still smiled like Maitreya Buddha, also said: "Don't worry, Peter, as long as we get two board seats, the number of directors of Firefly's 11 directors will reach 5. We can also take the opportunity to cultivate our own power within Firefly. At that time, even if Eric Williams owns the absolute controlling stake in Firefly, he will not dare to take the risk of turmoil in Firefly, he will do anything extreme."

Peter Schneider nodded relaxedly, and Roy Disney then raised the goblet in his hand and said, "Then, for our common goal, I suggest everyone raise their glasses together."

Most of the people attending this small cocktail party were representatives of Fireflies. When they heard Roy Disney's words, they were about to agree, but the TV screen that was still playing the news just now suddenly changed.

On the screen, reporters from all media who were originally scattered near Sunset Tower Hotel seemed to feel the nails of magnet suction, and suddenly rushed towards the gate of Sunset Tower Hotel. In the group of reporters, Eric soon appeared in the live broadcast camera of the TV station shaking.

Eric in the picture was protected by bodyguards with expressionless face. After waiting for the reporters around to calm down, Eric stared at the camera lens, as if staring at some people in front of the TV, and said in a deep tone: "Since that's the case, then at nine o'clock tomorrow morning, Fireflies will hold a press conference, and welcome the welcome and unwelcome people will be there together."

Eric left this sentence and hurried into his car under the escort of the bodyguard.

In front of the TV, the group of people who were planning to raise their glasses to celebrate looked at each other. Even the scheming Roy Disney had a bad premonition in their hearts. As a member of the Disney family, Roy Disney had many contacts with Eric. In his impression, Eric has always been calmer than his peers. But even if he was precocious, Roy Disney still had to admit that Eric was just a young man less than 25 years old. If Eric impulsively decided to kill the ball, he would probably be beaten up.

Because of this anxiety, Roy Disney could not rest well the next night. Early the next morning, Roy Disney got up and turned on the TV. He waited patiently until nine o'clock. The scene at the Firefly Headquarters press conference hall appeared on time on the news station.

"At present, Firefly Group has held 17% of Marvel Entertainment's debt. As an important creditor of Marvel Entertainment, we found that the operating loss amount of Marvel Entertainment in the first half of 1994 had exceeded US$24 million, and the stock price of Marvel Entertainment continued to fall. Compared with Marvel Entertainment's total debt of US$553 million, Marvel Entertainment, whose stock market value is less than US$300 million, has experienced serious insolvency, according to the Federal Company Law. At the same time as the statement is issued. Firefly

The group will file a lawsuit in the New York District Court where Marvel Entertainment is located, demanding that the forced bankruptcy protection be imposed on Marvel Entertainment immediately. At the same time, we found that the huge debt financing used for the company's development was illegally occupied by Andrews Holdings, a parent company of Marvel Entertainment. This serious violation of the bond trading law directly caused the current dilemma of Marvel Entertainment's bankruptcy. Therefore, Firefly will file a lawsuit in accordance with the law, which will inevitably make Andrews Holdings pay the due price for its illegal acts."

Roy Disney patiently listened to Kasenberg's speech on the TV and felt worried all night. The statement did not mention the Disney animation department at all. This shows that Firefly's senior management did not intend to break the dead.

However, Roy Disney immediately became puzzled by the purpose of this speech. He could hear that this should be Firefly's revenge on Ron Perelman's behavior, but he didn't quite understand many details, so he picked up the phone and dialed his personal lawyer's number.

After some explanation from a private lawyer, Roy Disney understood.

According to the United States Company Law, when a company is seriously insolvent and its performance continues to lose, the creditor has the right to require mandatory bankruptcy protection against the company. Bankruptcy protection is different from bankruptcy liquidation. Bankruptcy protection is equivalent to the creditor giving the debtor a buffer period before bankruptcy liquidation. Let the debtor propose relevant plans for the company's restructuring and debt repayment within a certain period of time. However, once this plan still cannot take effect, the company will face bankruptcy liquidation immediately.

Firefly Group proposed the main purpose of the forced bankruptcy protection of Marvel Entertainment, similar to Ron Perelman, and also to obtain control of Marvel as a creditor. However, unlike Ron Perelman's method, because of Marvel's insolvency, Firefly Group's appeal will be supported by the federal court.

Once Firefly Group seizes control of Marvel, Andrews Holdings' illegal occupation of Marvel's debt financing will also become an important handle for Firefly Group to attack Ron Perelman. Andrews Holdings not only faces the return of Marvel's financing funds, but also faces huge fines from the Federal Securities and Exchange Commission. This is the final killer weapon.

As a country with very strict financing supervision, the fines that are faced by illegally occupying hundreds of millions of dollars in financing are definitely not just a joke. Once the crime is confirmed, even an industry giant with assets of tens of billions of dollars may be punished to the point of being so tragic.

At this time, in the mansion where Beverly Hills held a cocktail party last night, Ron Perelman, who was still wearing pajamas, no longer had the calm expression he used to be. His arm holding the microphone was trembling due to fear and anger. After Firefly Group issued this statement, Berkshire Hathaway, State Street Global Fund and Firefly Investment Company issued similar statements as creditors. The companies held nearly 90% of Marvel Entertainment bonds. Once the New York District Court determined that Firefly Group's appeal was reasonable, Ron Perelman knew that he had no room to turn around among other creditors.

"Avi, I want an explanation. Why I only know about this until now. 90% of the bond ownership transfer. Shouldn't I be notified in advance? Tell me why?" After roaring to Marvel EOAvi Arad, Ron Perelman patiently listened to the other party's explanation and threw the microphone on the table with a snap.

Avi Arad explained to Ron Perelman that Firefly and several other creditor agencies have submitted the relevant debt transfer statement to Marvel Entertainment in recent days. Marvel also prepared relevant documents at this time, but it was because Ron Perelman came to Los Angeles and did not deliver them to him in time.

Ron Perelman keenly discovered two time differences in Avi Arad's dialect. Fireflies, Berkshire, Hathaway and others used a reasonable time difference to inform Marvel Entertainment in writing within the statutory period after the transfer of the debt took effect. Then, Marvel's EO Avi Arad created a time difference again, further delaying the time when Ron Perelman learned the news.

Ron Perelman found that the situation he was facing seemed worse than he thought. If the guess was right, Avi Arad might have been swept by the Firefly Group. Once this is true, he is likely to fall into a big fall in Marvel Entertainment.

After wandering around the bedroom for a few times anxiously, Ron Perelman suddenly took a photo of his bald head. He suddenly realized that the Firefly Group had already started to make arrangements at least a month ago, so he discovered two possibilities. One was that the Firefly Group realized that he wanted to use the Disney animation department incident to join the Firefly Board of Directors a month ago, so he made arrangements in advance to prevent it. And the other possibility is that the Firefly Group had long been coveted by Marvel.

After issuing more than $500 million in bonds, Marvel has no value in Ron Perelman's eyes, it is just a mess that can be thrown away. Ron Perelman rarely pays attention to Marvel's operations. If Firefly Group also holds this concept, then the other party's purpose of doing this is likely to make him retreat and no longer covet the board seat of Firefly Group.

After quickly weighing the trade-offs in his mind, Ron Perelman keenly discovered that the first possibility was very low. If he just wanted to use the flaw of Marvel to force him to stop, companies like Firefly Group and Berkshire Hathaway would not have to absorb nearly 90% of Marvel bonds, which would be $500 million in cash.

In Ron Perelman's eyes, Marvel is not worth half of the $500 million now. To be honest, if someone takes out $500 million now, Ron Perelman feels that he will immediately throw Marvel to the other party.

Once the Firefly Group's purpose is the second possibility, then the 500 million US dollars will be explained immediately.

The question now is, why does Firefly Group want Marvel, and why does it take action at this very sensitive opportunity?

Aren’t they afraid of changes in Disney’s animation department?

Or, someone thinks Marvel is more valuable than Disney animation department?
Chapter completed!