mentor back? [7:31964]

2002-01-15 Thread marcus jensen

Isn't this the group that went bankrupt and took money with them from lots
of students for classes they paid for? There were lots of posts from angry
students here a bit ago, I wonder if their concerns have been address since
mentor is now back in business?


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Re: mentor back? [7:31964]

2002-01-15 Thread Chuck Larrieu

Is Mentor back in business? web site is not there.

The news this morning is that a company called Element K has purchased the
Vlab technology, and will be marketing the labs.

Point to note - in terms of Mentor, Vlabs was an asset, people who bought
services were creditors. The bankruptcy court will sell assets and use the
proceeds to start to pay creditors. There is a specific legally defined
hierarchy as to which creditors get paid in what order. Those who were owed
rack time are last on that list. Sorry, but that's the way it is.

Unless the Court specifically obligated Element K to honor the open rack
time, they are under no legal obligation to do so. It is possible that as a
gesture of good will, Element K might offer to make good on what Mentor
owed. But depending on the terms of the acquisition, they may not be legally
obligated to do so.

Just as a note, there are plenty of lab scenarios available, free and
otherwise, and more on the way. There are also plenty of places to rent rack
time, with more on the way. To be truthful, I'm not so sure that the Vlab
business model is as relevant as it was a couple of years ago. Time will
tell.

Chuck

marcus jensen  wrote in message
[EMAIL PROTECTED]">news:[EMAIL PROTECTED]...
 Isn't this the group that went bankrupt and took money with them from lots
 of students for classes they paid for? There were lots of posts from angry
 students here a bit ago, I wonder if their concerns have been address
since
 mentor is now back in business?




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