UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
December 12, 1997
MARVEL ENTERTAINMENT GROUP, INC.
Delaware 1-10779 94-3024816
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation
387 PARK AVENUE SOUTH, NEW YORK, NEW YORK 10016
(Address of principal executive offices and Zip Code)
(212) 696-0808
(Registrant's telephone number, including area code)
(Former Name or Former Address, if changed since last report)
<PAGE>
Item 5. Other Events.
On December 12, 1997, the United States District Court for the District
of Delaware granted a motion filed by The Chase Manhattan Bank asking that an
order be issued to the U.S. Trustee Office to appoint a trustee of Marvel
Entertainment Group, Inc. and related chapter 11 debtors. On December 22,
1997, the Court approved the appointment of the Honorable John J. Gibbons.
Mr. Gibbons is a senior member of the law firm of Crummy, Del Deo, Dolan,
Griffinger and Vecchione in Newark, New Jersey.
Copies of the press releases issued by Marvel on December 12 and 24,
1997, reporting the foregoing actions are filed as Exhibits 99.1 and 99.2.
Item 7. Financial Statements and Exhibits.
99.1 Press Release dated December 12, 1997
99.2 Press Release dated December 24, 1997
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MARVEL ENTERTAINMENT GROUP, INC.
Date: December 29, 1997 By: /s/ August J. Liguori
Name: August J. Liguori
Title: Executive Vice President and
Chief Financial Officer
Exhibit 99.1
Marvel Entertainment Group, Inc. (NYSE: MRV)
Court Will Appoint Trustee to Assist in Chapter 11
New York, NY, December 12, 1997 ... Marvel Entertainment Group, Inc.
(NYSE: MRV) today reported that Judge Roderick McKelvie of the U.S. District
Court in Delaware will issue an order to the U.S. Trustee Office to appoint a
trustee who will replace the current board of the Company.
Executive Officers of Marvel will remain in place, and will continue to
conduct operations consistent with its business plans. The secured lenders
have indicated in documents filed with the Court that they have no desire for
the Company to change direction, focus or strategy in connection with its
business plans, or to run the operation differently from how it is currently
being managed. In connection with the appointment of the trustee, the secured
lenders, led by Chase Manhattan Bank as their agent, will advance Marvel
additional operating funds.
Exhibit 99.2
Marvel Entertainment Group, Inc. (NYSE: MRV)
New York, NY, December 24, 1997 ... Marvel Entertainment Group, Inc.
(NYSE: MRV) today reported that the U.S. Trustee Office has appointed Hon.
John J. Gibbons to serve as trustee. Mr. Gibbons, a senior member with the
Newark, NJ-based law firm of Crummy, Del Deo, Dolan, Griffinger & Vecchione,
was a Judge for the United States Court of Appeals for the Third Circuit for
more than twenty years. He was Chief Judge from 1987-90.
