Design Pics Becomes Interim Manager Of Masterfile

Posted on 4/7/2020 by Jim Pickerell | Printable Version | Comments (0)

Design Pics Inc., based in Edmonton, Alberta, Canada has assumed the interim management of Masterfile during the bankruptcy process. Masterfile first filed to restructure its business in April 2017 and was unable to make any royalty payments to photographers after January 2018. According to information supplied to creditors by Harris & Partners, the insolvency trustee, as of March 3, 2020 Masterfile had total assets of $270,000 and total liabilities of $4,092,654.41. They owe royalty payments for the images they licensed to 530 stock agencies and independent photo creators.


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Copyright © 2020 Jim Pickerell. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-461-7627, e-mail: wvz@fpcubgbf.pbz

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