On Qui 16 Jan 2003 14:18, Anne Wilson wrote: Yet IANAL, You are right Anne!
I've being looking for some info and this Chapter 11, would be a kind of preventive action from MandrakSoft to avoid having bankruptcy requested by others. So, they would have a situation their "under-controll" to fry to find their way out of such situation! Here in Brazil people call this situation, like this: "Ok, I owe you but I'll pay you whenever I can!" Of course, under rigid court control! That's totally legal and correct in many countries like USA, UK, France and Brazil as far as I know! Ricardo > As I understand it a Chapter 11 is not the same as a bankruptcy. I believe > the court's job is to evaluate and look at how it can re-organise, but also > to look at commitments and see whether they are fair and must be met, or > whether some serious negotation is required. I believe they can > considerably mitigate the pain presently being felt. However, I also am > not a lawyer. > > In response to the last comment, the shareholders' email said that further > details of the situation and plan will be issued next week. All I ask is > that we do not make things worse by spreading panic and gloom. When we > have seen that second stage statement we may feel better able to judge. > > Anne -- ========================================================== Linux user # 102240 => Machine # 96125 => Seti@home user ========================================================== http://counter.li.org/ & Get Counted!
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