SECURITIES AND EXCHANGE COMMISSION
                            Washington, DC  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 27, 1996

                             MARVEL HOLDINGS INC.
              (Exact name of registrant as specified in charter)

           DELAWARE                 33-62366            13-3709544
 (State or other jurisdiction      (Commission       (IRS employer
       of incorporation            File Number)      identification no.)

     5900 NORTH ANDREWS AVENUE, FT. LAUDERDALE, FLORIDA    33309
          (Address of principal executive offices)      (Zip Code)

                                (305) 772-3409
             (Registrant's telephone number, including area code)


          ITEM 3.  BANKRUPTCY OR RECEIVERSHIP

          On December 27, 1996, the registrant filed a voluntary
          petition (Case No. 96-2066 (HSB)) for reorganization
          under Chapter 11 of the United States Bankruptcy Code in
          the United States Bankruptcy Court for the District of
          Delaware.  The Company remains a debtor in possession and
          no trustee has been appointed.  See Exhibit 99.1.

          ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
                   INFORMATION AND EXHIBITS

          (c)   Exhibits

          Exhibit 99.1  Press Release dated December 27, 1996. 


                                  SIGNATURE

          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.

          Date:  January 9, 1997

                                        MARVEL HOLDINGS INC.
                                             (Registrant)

                                        By:  /s/ Laurence Winoker
                                        Name:  Laurence Winoker
                                        Title: Vice President and Controller
                                               (Principal Accounting Officer)


                                EXHIBIT INDEX

          Exhibit

          99.1 Press Release dated December 27, 1996
[{"type": "8-K", "sequence": "1", "description": "8-K", "secsgml_size_bytes": 2406}]
{"company-data": {"conformed-name": "MARVEL HOLDINGS INC", "cik": "0000904083", "assigned-sic": "2721", "irs-number": "133709544", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "033-62366", "film-number": "97504157"}, "business-address": {"street1": "5900 N ANDREWS AVENUE", "city": "FT LAUDERDALE", "state": "FL", "zip": "33309", "phone": "3057713409"}, "mail-address": {"street1": "387 PARK AVENUE SOUTH", "city": "NEW YORK", "state": "NY", "zip": "10016"}}
SECURITIES AND EXCHANGE COMMISSION
                            Washington, DC  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 27, 1996

                             MARVEL HOLDINGS INC.
              (Exact name of registrant as specified in charter)

           DELAWARE                 33-62366            13-3709544
 (State or other jurisdiction      (Commission       (IRS employer
       of incorporation            File Number)      identification no.)

     5900 NORTH ANDREWS AVENUE, FT. LAUDERDALE, FLORIDA    33309
          (Address of principal executive offices)      (Zip Code)

                                (305) 772-3409
             (Registrant's telephone number, including area code)

          ITEM 3.  BANKRUPTCY OR RECEIVERSHIP

          On December 27, 1996, the registrant filed a voluntary
          petition (Case No. 96-2066 (HSB)) for reorganization
          under Chapter 11 of the United States Bankruptcy Code in
          the United States Bankruptcy Court for the District of
          Delaware.  The Company remains a debtor in possession and
          no trustee has been appointed.  See Exhibit 99.1.

          ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
                   INFORMATION AND EXHIBITS

          (c)   Exhibits

          Exhibit 99.1  Press Release dated December 27, 1996. 

                                  SIGNATURE

          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.

          Date:  January 9, 1997

                                        MARVEL HOLDINGS INC.
                                             (Registrant)

                                        By:  /s/ Laurence Winoker
                                        Name:  Laurence Winoker
                                        Title: Vice President and Controller
                                               (Principal Accounting Officer)

                                EXHIBIT INDEX

          Exhibit

          99.1 Press Release dated December 27, 1996