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[News] Amiga Inc. Has Sold AmigaOS RightsANN.lu
Posted on 16-Mar-2004 01:11 GMT by Anonymouse124 comments
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Amiga Inc. Has Sold AmigaOS Rights : Comment 79 of 124ANN.lu
Posted by takemehomegrandma on 16-Mar-2004 09:00 GMT
Well, lots and lots of people will have to make some really sweet apologies to some certain other people over that "Garry Hare" incident. I remember that people was called liars in *real* tough wordings, and now it turns up that once again, there were no lies only truth, and of course the usual efforts from Amiga Inc to deceive spread lies and FUD as well. Well, the truth usually comes forward in the end! Now people (you know who you are) let's hear you say "I'm sorry, I was wrong, and my senseless and ungrounded vomiting on certain people that claimed otherwise was uncalled for and for that, I am hereby officially a moron."
:-)


OK, over to the asset stripping of Amiga Inc now. As the lawyer(?) Ben Hermans himself states:

"No offense but one of the main purposes of bankruptcy law is to prevent this type of asset stripping with assets being transferred out of a company on the verge of bankruptcy, to the detriment of the remaining creditors.

This is blatantly illegal unless it would happen at normal market valuation.

If you were one of the creditors being stiffed (think suppliers and employees alike), wouldn't you want to prevent people running off with your collateral?"


http://www.ann.lu/comments2.cgi?show=1076172906&category=forum&number=39#comment


And it continues (this is me):

> You mean like making a contract that transfers all IP of a certain OS to a
> certain company in case of a bancruptcy?

Yeah, that was an interesting spin! Ben Hermans, who currently owns the IP for OS4? Amiga Inc? Or has it been transferred to Hyperion? And at what time became Amiga Inc to be on the verge of bankruptcy; was it before or after the transfer?"


http://www.ann.lu/comments2.cgi?show=1076172906&category=forum&number=42#comment


Ben Hermans answeres (not giving any real information though, except the last sentence which is kind of interesting IMO):

"I was making a general observation about bankruptcy law, that's all.

I don't know anything about the specifics other than the stories printed in several newspapers.

Nice spin incidentally about the Amiga Inc. situation.

You'll understand that the contractual arrangements put in place are not really going to be made public and that all parties involved looked at this from different legal angles."


http://www.ann.lu/comments2.cgi?show=1076172906&category=forum&number=43#comment


So Amiga Inc, a company that at that time obviously was "on the verge of bankruptcy" transferred (sold?) it's only asset of value to another company? Was it sold through a public auction to make sure they got the highest possible price to cover their debts? Or was it simply transferred for no money at all? This could IMHO be obvious asset stripping that "the main purposes of bankruptcy law is to prevent".

And by the way, in the context of "who owns the OS4 IP", what does "all parties involved looked at this from different legal angles" mean?


Questions, questions, questions ...

;-)
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#81 Amon_Re #98 Don Cox
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