Strategy First in Chapter 11 bankruptcy protection

[xander]

As gravedigs go, that one was a 25-pointer.

Well, he did bump an old topic, but only because new information has been published. It seems reasonable to me, though he could have started a new topic, I suppose. At any rate, what does this mean for IV? It sounds like this deal only covers about 20% of Strat First's debt... does IV get anything out of that? or are you guys too far down the list?

xander

[Darksun]

I think it was a perfectly valid bump

Now, the money injected by the takeover doesn't fully account for the $5 million debt, but I think with extra profit coming in now that they're out of the shit, so to speak, could account for that. It looks likely they'll clear bankruptcy (they wouldn't have been invested in otherwise), and once they do, I think they then have to start paying royalties to all the people they owe them to, as well as backroyalties for money they made while in Chapter 11.

Disclaimer: IANAL... hehe... Anal...

[Hrothgar]

I'm sorry, most of the places I usually post at frown upon creating a new topic if one is already open. This one was still on the first page.

Anyway, the article I linked to made the audacious assumption that all the creditor had been paid. I was curious to see if that was true.

[thaimodz]

Really can't get a poster. Could do with $3 or 4. Because I'm now nearly bankrupt too. Sorry couldn't help.

*looks at OUT OF STOCK*

Yay!