Hyperion bankrupt?

[OlafS3]

Hyperion says: "The news of our demise is greatly exaggerated":

http://oldschoolgameblog.com/2015/02/14/hyperion-says-the-news-of-our-demise-is-greatly-exaggerated/

"This is the result of an unfortunate administrative mishap by a third party and is in the process of being addressed/cleared up."

someone with access to the account of Hyperion on amigaworld. Whatever this exactly means

[OlafS3]

Surely you don't mean... that somebody was wrong on the internet?!

I don't believe it.

no it was not the internet.

"while in Belgium whilst it comes to administrative and judicial matters"

if the information itselve would be wrong they could simply ask for correction (even in belgium). I think that is EU law.

[OlafS3]

Not deleted.

thanx for clarification. I read it somewhere when I was searching for informations about Amithlon but obviously the informations was wrong

@Bernd Meyer

you obviously are still around (at least reading). Why do you not use Aros Rom Replacements for Amithlon? It would be great to have it again, there would be a lot of people willing even to pay for it

[guest11527]

Whether this is good or bad news still has to be seen. But first things first: Just because a company is insolved does not mean it is out of business - it is only under administration of a curator whose job is to re-finance the company. If that is not possible, i.e. no new capital can be accquired, it runs out of business.

Regardless of this process, it means also that - in worst case - the assets of the company are sold, or remain the property of the curator if they cannot be sold. In other words, it could mean that the rights on AmigaOs will be lost in space and time, owned by someone who does not even know what this is all about, and all hope to do anything in this market will be lost forever.

On the bright side, this is at least a very clear indicator that the business model of Hyperion was/is non-working, and it means that - in case they will be able to re-finance themselves - they have to re-think their model (or rather, the curator will have to help them). That could also mean that there is a slight chance that they might probably learn that there is a (albeit small) demand for AmigaOs in the retro-market, and there is a life in AmigaOs beyond PPC, since PPC did apparently not work so well.

Anyhow, who knows what the future will bring. We can only just wait and see.

[Yasu]

Well, you can always count on the PR department on Hyperion then. When half the people are deeply worried and the other half is dansing on their grave they go to _one_ forum and write "sh*t happened. Don't bother us". If it was me I would go into overdrive, write some statement on my HP:s and send an open letter to the community.

I mean, being thought of as gone bust is ... really really bad, right? This way of handling it actually doesn't make me all convinsed that they havn't gone insolvent. Unless they are late starters and the overdrive will be underway this afternoon or something.

OK, we need some fact checking now. Bankrupsy handlings are public documentations in Sweden. Is it the same in Belgium? Can someone check what is really going on?

[Yasu]

I've also checked who the curator is, and it looks like this guy:

http://www.eurojuris.be/en/node/37684

I've e-mailed him and asked him if he is the curator and if so, what is going on? Hopefully he will answer me. If he does, I will post his reply here (as I don't have a working AmigaWorld account).

[guest11527]

I mean, being thought of as gone bust is ... really really bad, right? This way of handling it actually doesn't make me all convinsed that they havn't gone insolvent.  

I don't think anybody doubt that they have not.  But you confuse two things here: Being insolvent, and going out of business. Being insolvent means: "I cannot pay my employees and my bills right now". Going out of business means "I stop by buisness". If you are insolvent, the curator cares for handling of the affairs. What belgium law has to say about this I do not know, but in Germany, employees would receive some partial payment by the state for a short while, until the issue is resolved. It is not unusual that an insolvent company finds some way to refinance itself, and it will then be back in business soon. Only if all attempts fail, the company goes down.  

OK, we need some fact checking now. Bankrupsy handlings are public documentations in Sweden. Is it the same in Belgium? Can someone check what is really going on?

I neither know Belgium law, but in German law, it is also public. Actually, I believe it is reasonable to expect that in any law because it means that any investor or contractor of such a company should have a chance to protect his interest. Otherwise, a company just could go out of business, taking all the assets with them, and found a new one, ignoring the interests of its contractors. This sounds outright illegal to me.

[Yasu]

@Thomas_Richter

Well, I do know the difference but it's still a lot more serious than "just a misunderstanding" that HE claims. But sure, insolvent would mean that Trevor can invest money into the business, keeping it floating. Other than that it does look bleak. From what I know HE only have two paid employees. So if they can not pay their bills then they really don't have much chance of finding ways to do so.

Laws can be very different from country to country. But I suspect that they are quite alike in the EU.

[A1260]

So ends another chapter in the long running saga of the Amiga... RIP AmigaOS4.

[OlafS3]

@Thomas_Richter

Well, I do know the difference but it's still a lot more serious than "just a misunderstanding" that HE claims. But sure, insolvent would mean that Trevor can invest money into the business, keeping it floating. Other than that it does look bleak. From what I know HE only have two paid employees. So if they can not pay their bills then they really don't have much chance of finding ways to do so.

Laws can be very different from country to country. But I suspect that they are quite alike in the EU.

I can only say about Germany but propably it is similar in all european countries (i will look at Belgium law for fun too). There is someone that has to get money from you and requests it and you do not have it. The company can have lots of work, insolvency only means there is not enough on your bank account at a certain point of time. This person takes the evidences (contracts and so on) to court. The court checks it and send you a new request (with additional fees for the court). if you do not pay this too you are officially insolvent and a attorney is appointed by court who takes control on everything. The company still is active but every bigger expense has to be approved by the official attorney. That is how I know it from germany.

[Yasu]

I just got this reply from the curator:

"The company announced to start an opposition procedure according to the Belgian Bankruptcy Act. In that case the Court can take a decision to annul the first Court decision which means it is like no insolvency proceeding has even been pronounced."

[OlafS3]

I just got this reply from the curator:

"The company announced to start an opposition procedure according to the Belgian Bankruptcy Act.%&$#?@! In that case the Court can take a decision to annul the first Court decision which means it is like no insolvency proceeding has even been pronounced."

It sounds like one court declared them bankrupt but they still have options to let it check by another court.

[OlafS3]

I just got this reply from the curator:

"The company announced to start an opposition procedure according to the Belgian Bankruptcy Act.%&$#?@! In that case the Court can take a decision to annul the first Court decision which means it is like no insolvency proceeding has even been pronounced."

this is interesting:
http://www.lawyersbelgium.com/bankruptcy-procedure-in-belgium

sounds more or less like in Germany

[alphadec]

Very sad news I thought I never would experience this again thought we now have someone who knows what they was doing, guess not.

So like I have said before the only future for amiga is the users builds a amiga fpga, for users.

[AmiDude]

I'm glad Hyperion is dead! :banana: :pint:

Finally the PPC OS4.0 joke is over! It's time now for the software developers & hardware ingeneers (with an Amiga heart) to concentrate on our beloved 68k Amiga again!

:pint: :pint: :pint: :pint: :pint: :pint: :pint: :pint: :pint: :pint: :pint: :pint: :pint: :pint:

[Yasu]

They are not dead yet.

But even if they survive it raises a difficult question: who went to court to declare the insolvency and why?