Dorchester Media has been foreclosed on.
But get this--the person foreclosing on the company isn't an author or any other creditor trying to collect what's owed them.
It's John Backe. As is John Backe, the founder and principal of The Backe Group Inc. And guess who The Back Group Inc. owns? Yep, Dorchester's owner in the one foreclosing on the publishing company.
Supposedly, the investment banking firm handling the matter will auction off the company and the book licensing rights separately.
In the meantime, according to Brian Keene, more bad things have been done to authors, and a couple of writers are FINALLY filing a lawsuit. But it may be too little, too late, in this horrid situation. Brian has a chronology of his own situation on his blog. It ain't pretty and far worse things have been done to others.
*sigh* And people wonder why I'm pro-indie.