Vantage Press, which closed down in December, has sent a letter to authors informing them that they have until January 31 to return an “Assignment & Release Agreement” if they want to get their rights back to their books. In exchange, Vantage is requiring authors to release Vantage from any claims and liabilities, including any royalties earned through the date of the returned agreement.
One of the first “vanity presses,” Vantage filed for bankruptcy last month. In a one-page status update, Vantage reiterated that it has no funds and that its distributor, Ingram Publisher Services, has stopped selling its titles and is accepting returns until March 24. At present IPS does not have a plan for authors to claim or purchase their books from them, but Vantage said it hopes to get a procedure put into place.
