Foundry Literary News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Literary agency Foundry Literary + Media dissolved in September 2020, and some authors had trouble getting paid, with reports of checks bouncing as early as last No­vember The Authors Guild got involved, and some authors were subsequently paid by wire transfer, but others were not. The agency’s found­ers, Yfat Reiss Gendell and Peter McGuigan, split up to form their own separate agencies last year, YRG Partners and Ultra Literary. Gendell initially blamed the problems with payments on the transition. The real cause of the situation remained unclear until January 18, 2021, when founder McGuigan filed suit against Gendell in New York Supreme Court, alleging breach of contract, fraud, and negligent misrepre­sentation. McGuigan says that Gendell criminally embezzled over $800,000 from Foundry accounts, made $45,000 in illegal charges to company credit cards, and even cut off McGuigan’s health insur­ance. McGuigan froze the company’s accounts when he began to suspect financial

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