#6 Quote:

re: Overdue filings of the Hyperion Entertainment financials There seem to be 2 postings from Amiga Documents that "might" speak to that topic: part 1 part 2 #6 Added a quick check of Belgian law: Quote: In Belgian law, failing to file annual accounts or consolidate annual accounts on time can lead to several consequences, including fines, potential director liability, and even involuntary winding-up. The National Bank of Belgium (NBB) can impose surcharges for late filing, and the damage suffered by third parties is presumed to result from this failure unless proven otherwise. Directors may also be held liable for damages resulting from the infringement of the articles of association and the Companies Code. Involuntary winding-up of a company can be ordered by the court at the request of any interested party or the public prosecutor if the company fails to file its annual accounts.

Possible sources of bankruptcy or dissolution for Hyperion that we know about.

1. Belgium court for not filing annual accounts
2. Belgium court for lack of payment of court appointed Hyperion administrator
3. Ben Herman BV for lack of Ben Herman legal fee payment?
4. Lack of payment for Hyperion legal fees after Ben was booted
5. Lack of payment to Trevor for joint ownership of AmigaOS 4 from sales of AmigaOS 4?

Hyperion was nearly insolvent due to debt before these newer potential sources of bankruptcy/dissolution. Despite the continued demonization of Amiga/Cloanto, Amiga/Cloanto are unlikely to be the nail in the coffin that ends Hyperion. Scapegoating and coercion will not fix their finances anymore than it did for Ben. Maybe they will get lucky like Ben multiple times and get another Trevor bailout but I would not count on it. Trevor may acquire more assets leaving them a worthless shell business after paying Trevor to use his assets and Trevor's sinking PPC AmigaNOne leaves no hope of increasing revenues. Selling assets is one of the few options Hyperion has left to survive but the AmigaOS carries litigation risk that only Trevor is likely to find acceptable. The other option would be to make a deal with Michele ending the litigation risk, selling AmigaOS related assets to pay debts and allowing THEA1200 which would enlarge the Hyperion Amiga game porting business but that would require making a deal with the devil according to Ben's brainwashing of Hyperion employees. Ben is the primary reason why Hyperion is in this situation and he would suffer the same fate if still in charge without selling more assets to Trevor who is the beneficiary of the alliance more than angel investor savior.

Last edited by matthey on 23-Apr-2025 at 07:38 PM.

@matthey

Quote:

Possible sources of bankruptcy or dissolution for Hyperion that we know about.

Correct me if I am wrong, but...

Bankruptcy and Dissolution are 2 entirely different outcomes that would each potentially involve a different set of parties. In other words, some parties might gain from one outcome but not the other?

#6

Added: for what it's worth generative AI says:
This about that

Last edited by number6 on 23-Apr-2025 at 08:31 PM.

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@#6
It looks like the Google AI did a pretty good job in this case. As far as I know, a dissolved business usually can not reorganize and continue like a bankrupt business has the option of doing. The idea of bankruptcy is to protect the business from creditors with bankruptcy laws which may not apply with dissolution. A forced dissolution may provide less protection. A business can do a voluntary liquidation and winding down which may be considered a form of voluntary dissolution.

https://www.investopedia.com/terms/v/voluntary-liquidation.asp

If the shareholder equity (the businesses net worth = total assets - total liabilities) is positive then bankruptcy is not needed to wind down a business. All assets are sold, liabilities and debts are payed and remaining funds are distributed to the shareholders. If the shareholder equity is negative then bankruptcy protection is often used to protect the business and shareholders from creditors. The business continues to exist but a bankruptcy administrator may be appointed to make sure bankruptcy procedures and laws are followed. A forced dissolution by the Belgium government would likely have less protection as it may be the government taking over the business, selling the assets, paying creditors and winding it down permanently. I am not a lawyer and do not know Belgium Law so I could be off but this is roughly what I expect.

@matthey

April 17, 2025

New doc posted at SPF Justice

#6

Added: Reference for how "kb" link read in March

Compare with current listing.

Last edited by number6 on 28-Apr-2025 at 02:51 PM.

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#6 Quote:

April 17, 2025 New doc posted at SPF Justice

Website update for 2025-04-17 removal of Bart DE MOOR as managing director of Hyperion? Do you see anything else?

Last edited by matthey on 28-Apr-2025 at 05:21 PM.

@matthey

Just a reminder. The Dutch translation to english of the doc is still "provisional administrator", not director.

Quote:

Do you see anything else?

Indeed I do, but it's a different entry and makes no sense to me based on what we know.

#6

Last edited by number6 on 28-Apr-2025 at 06:00 PM.

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@Matthey

Another "circumstantial" regarding Artes Law:

2023

Filing is here as usual

#6

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