@Darrin

Did the court just out the blue declare Hyperion dead (aka bankrupt) ?

Probraly not, so your analogy fails.

With the release of OS4.1FE1stT it has been probraly the 1st time in years that their was actual money inside the company. Money that made atleast one creditor attempt to claim it.

That claim obvioulsy had some merit and Hyperion hadn't payed up on time, otherwise it wouldn't have through court.

Possible outcomes:
- Hyperion prooves that the claim is invalid
- Hyperion finds a way to pay that creditor
- Hyperion is dissolved

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@Dirk-B

Exactly! :D

I sense a pulse.

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@Darrin

if a court says you are dead and stay dead then you are undead even though alive.

@Darrin

Quote:

"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 ever been pronounced." This would be like me declaring you dead, but you going to court and declaring that you're alive.

You might want to ask Hermans what he did wrong at first hearing to get Hyperion declared bankrupt.

Quote:

Are you dead or alive in reality?

This has been addressed.

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@Kronos

Obviously someone filed something and the court agreed with the findings. However the reality is that there are always two sides to a story and we do allow the accused to contend any charges and appeal any decisions (at least we do where I come from).

So, as you say, there are at least 3 possible outcomes and if the claim is invalid then obviously the initial "bankrupt" state is false and they are not bankrupt (nor were they ever).

Now we just have to wait for the legal system to slowly drag its heels. Phrases like "when it is done" and "two more weeks" springs to mind.

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@itix

I assume that will all come out in court. However you're assuming that he has done something wrong. The court might disagree with you.

Anything you want to share or is this just speculation?

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@OlafS25

So is a Zombie dead or alive? This could be a good tax-loop hole!

I think the lead singer of Disaster Area took a year of dead for similar reasons.

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@itix

Quote:

You might want to ask Hermans what he did wrong at first hearing to get Hyperion declared bankrupt.

This is covered by the term administrative error (or similar, can't be bother to track up to quote exact phrase) use by Hyperion earlier. (from comments else where I don't believe it was Hyperions eror, but I don't know the fine detail).

Last edited by broadblues on 14-Feb-2015 at 07:35 PM.

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BroadBlues On Blues BroadBlues On Amiga Walker Broad

Well, you wont end up in Court over bankruptcy if you got solid finances.

I hope Hyperion are able to pay their creditor(s) for several reasons.

Whoever got unpaid bills gets covered.
Amigakit/Aeon will/have lost buissniss over it already (ref Amiga.org thread).
And people will be less inclined to invest in AOS4 platform/hardware if they dont expect
future OS updates (beyond 3rd party driver development by AEON).

For those of us/me that just regard AOS (Classic or NG) as a hobby and have kept the investment level to a relative minimum; Hyperion going bankrupt or not wont affect me much.
I can imagine those that shell out 3000 dollars for AOS4 system with the expectation of full 3d and multicore support etc feel a bit uneasy, atleast some of them, again ref amiga.org thread.

BUT hope they can sort themselves out.

Last edited by Overflow on 14-Feb-2015 at 07:40 PM.
Last edited by Overflow on 14-Feb-2015 at 07:38 PM.

@Darrin

Quote:

Anything you want to share or is this just speculation?

Just what I wrote earlier. Hyperion is bankrupt. That is current state of affairs until it is overruled.

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@Overflow

I completely agree. As a business owner myself, I expect to get paid for work I invoice and I expect to pay those I use to conduct my business.

From AmigaWorld.net we can see it has already cost one X1000 sale, so the sooner this whole thing is cleared up then the better it will be for the users.

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@itix

Sorry, Hyperion has been "declared" bankrupt by a court based on initial information. They state otherwise. That doesn't mean they are bankrupt as it is pending an appeal. There is a difference even if you don't want to accept it.

You might be right, but until the appeal is heard you might equally be wrong.

It is like when someone slaps a restraining order on you until you get your chance to stand in front of a judge and have him restrict it. It doesn't mean that until that point you are a violent offender, just that you've been accused of it until the facts become available.

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@broadblues

Quote:

This is covered by the term administrative error (or similar, can't be bother to track up to quote exact phrase) use by Hyperion earlier.

This is Hyperion's opinion to the court ruling. Whether it holds water remains to be seen but if they dont get their finances sorted they find themselves from the court again.

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@itix

Very true.

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@Darrin

they would not officially publish that a company is bankrupt if it is not official. It can ruin even a healthy company if that is "just for fun" published. Imagine your business partners (who might still want money from you) reading that that you are declared bankrupt, will they not rush to get their money? And who would start new businesses with you if he can read that in the public and official register?

@Darrin

Wishful thinking.

Besides, there is nothing wrong if Hyperion is insolvent. If they get liquidated then other company (like A-eon) could buy their assets cheap and continue development. Not having to carry burden of debts Hyperion is presumably having.

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@Darrin et Al

Quote:

Darrin wrote: @itix "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 ever been pronounced." This would be like me declaring you dead, but you going to court and declaring that you're alive. Are you dead or alive in reality?

About the accusations of a hidden agenda etc ... maybe not directly addressed @me, but it felt like it was:

As to the why I even bother replying here, sticking out my neck: thanks to the proficiency of our beloved Business Lawyer, I am directly affected by this crap, and this crap is none other than the direct result of his shenanigans over the last couple o' years. I wish, I truly wish I could put this behind me, but mister Business Lawyer just doesn't let me. And I am not the only one affected by this as I'm sure you all understand. It affects each and everyone of you, directly or indirectly, as a customer or otherwise.

So my agenda is ... simply to expose a little crap.

Mister Business Lawyer gives us this explanation:

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

Think about this for a minute. No really, think about this.

That's about the biggest load of crap I have ever heard from this ... hum^H^H^H being.

It could very well be that some administrative issue played a role here but all it really says is that Hyperion probably did not initiate the proceedings themselves.
As a consequence, it does say that someone else did.
In other words, it says, that some creditor, and no, it wasn't me, stepped to the Court, asking for a bankruptcy declaration of Hyperion. That's not a mishap, that happens after probably long proceedings .. someone who has been hoping and trying to recoup some of his losses, investments ... or other claims, and has been doing so for a long time.

You guys almost make it sound like its a mere administrative issue, a correction of some "adminstrative mishap", you almost make it sound like he's already won, and that life will continue as if nothing happened.
If you do care about Hyperion/OS4, and no, I really don't have anything against those who do, or you have a vested interested (as a creditor ... of for any other reason) there's ample reason to be very concerned.

Evert

Last edited by jorit2 on 14-Feb-2015 at 08:07 PM.

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< comment removed >

Last edited by Darrin on 14-Feb-2015 at 08:20 PM.

@jorit2

It wasn't directed at you, it was directed at everyone who just seems to want it to be true for personal reasons and just seem to want to gloat about it

You had already stated earlier in the thread that you had no involvement in it.

Quote:

It could very well be that some administrative issue played a role here but all it really says is that Hyperion probably did not initiate the proceedings themselves. As a consequence, it does say that someone else did.

I think it is obvious that Hyperion didn't do this themselves. It is equally obvious that someone else did. So until we know who did and why and whether the case has any merit then I don't see what can be achieved here.

As for personal attacks and name calling, do it in a PM.

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@itix

Quote:

This is Hyperion's opinion to the court ruling. Whether it holds water remains to be seen but if they dont get their finances sorted they find themselves from the court again.

I would think all their assets (including bank accounts) are now in control by Bert Dehandschutter since he is the curator of Hyperion Entertainment CVBA. It's his job to make sure the creditors (Amiga Inc one of them?) get their fair portion of whatever the assets that can be liquidated. I guess time will tell the tale.

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