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      /  Hyperion restored to Belgium's company register
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PosterThread
number6 
Re: Hyperion forcibly deleted from Belgium's company register
Posted on 10-Aug-2018 16:15:59
#141 ]
Elite Member
Joined: 25-Mar-2005
Posts: 11415
From: In the village

@pavlor

Quote:
To be fair, nobody in charge of the Amiga companies is an angel without taint. Ego and messianism in deadly mix.


Well, to enter that one in the wiki, you'd need another corroborating "news" story. heh.

#6

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OlafS25 
Re: Hyperion forcibly deleted from Belgium's company register
Posted on 10-Aug-2018 16:19:55
#142 ]
Elite Member
Joined: 12-May-2010
Posts: 6082
From: Unknown

@pavlor

I never understood why you are so a big Hyperion-Fan...

What should Cloanto have done in last years to find your mercy?

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pavlor 
Re: Hyperion forcibly deleted from Belgium's company register
Posted on 10-Aug-2018 16:43:46
#143 ]
Elite Member
Joined: 10-Jul-2005
Posts: 9357
From: Unknown

@OlafS25

First, Im not Hyperion-Fan, Im Amiga.Inc supporter (which itself speaks volumes about my own sanity).

Second, I like Cloanto, I bought Amiga Forever several years ago and it was one of my best buys ever. However, since then, Cloanto did nothing to justify for me another purchase. Same old stuff. Im trying to support all Amiga companies with my limited resources. If Hyperion releases OS4.2 (or OS4.1 really FE not so FE update 12), I will buy it. If there are another useful applications on AmiStore (Aladdin 4D and ImageFX Im looking at you!), I will buy them. If Cloanto releases improved OS3, I will buy it. Im even considering MorphOS purchase (what a heresy!) once I get supported hardware.

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number6 
Re: Hyperion forcibly deleted from Belgium's company register
Posted on 12-Aug-2018 13:24:53
#144 ]
Elite Member
Joined: 25-Mar-2005
Posts: 11415
From: In the village

@pavlor

Quote:
At last.


The claim has been made that the 2009-2014 accounts are still required by law.
Conditions stated also as to possible implications.

Perhaps a legal mind can verify or dispute for us:

https://twitter.com/amigadocuments

#6

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number6 
Re: Hyperion forcibly deleted from Belgium's company register
Posted on 20-Aug-2018 16:39:46
#145 ]
Elite Member
Joined: 25-Mar-2005
Posts: 11415
From: In the village

@thread

I noticed official site info has changed again, but unsure of when.

Source

"Legal functions" used to list Timothy and Costel as "directors", now the listing is changed to "board members".

Quote:
The members of the board of directors are nominated by the general meeting of shareholders and can be dismissed by them at all times without any motive ('ad nutum').


Source accurate in this regard?

#6

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matthey 
Re: Hyperion forcibly deleted from Belgium's company register
Posted on 20-Aug-2018 21:46:37
#146 ]
Super Member
Joined: 14-Mar-2007
Posts: 1476
From: Kansas

Quote:

number6 wrote:
@thread

I noticed official site info has changed again, but unsure of when.

Source

"Legal functions" used to list Timothy and Costel as "directors", now the listing is changed to "board members".


It looks to me like...

directors = board [of directors] members

I doubt there has been any change other than the English used. English does allow to call the group of shareholders a "board of shareholders" but this would be highly unusual in the U.S.

I wonder if Belgian corporations are required to submit the names of all their directors. Only two directors is not healthy in my opinion. I was on a private S corporation board (not more than 10 employees and not more than 1 million per year U.S. net profit) with 4 directors (all stockholders). There was internal division and lack of perspective where we would have benefited from more (especially outside) directors.

Quote:

Quote:
The members of the board of directors are nominated by the general meeting of shareholders and can be dismissed by them at all times without any motive ('ad nutum').


Source accurate in this regard?

#6


This is typical of corporations patterned after U.S. corporations. The shareholders elect the directors who elect the officers.

shareholders->directors->officers

The shareholders have supreme power within the law but their authority is granted to the directors who can grant authority to officers (usually defined in the Articles of incorporation/organization/association or corporate charter). This is because there may be non-participating shareholders or too many shareholders to effectively govern. Directors meetings are usually held more often than shareholder meetings but a certain percentage of shareholders can usually call for an unscheduled shareholder meeting. If you are looking for a director change then it could take weeks or even months after a change of stockholders. If Hyperion has the kind of debt I have heard rumors of, it may be wise to let them declare bankruptcy before buying their intellectual property although there may be risks to this by business partners (A-Eon). If Hyperion is burning cash and has no way to raise money, it would be in their interest to find buyers/investors before their stockholders lose everything. Instead they are suing possible buyers which burns more cash. Perhaps this is a gambit to try to win more of the Amiga intellectual property and increasing the value of their assets but they still wouldn't have a profitable business model and I can't imagine there would be many interested parties who would pay up for it. Even if Hyperion pulled a miracle out of their boingbag and released AmigaOS 4.5 with features like SMP, full memory protection, resource tracking, 64 bit support, etc., I doubt it would be enough to save them so keep watching. Private companies certainly don't have to make much public.

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Nonefornow 
Re: Hyperion forcibly deleted from Belgium's company register
Posted on 20-Aug-2018 23:01:03
#147 ]
Regular Member
Joined: 29-Jul-2013
Posts: 307
From: Greater Los Angeles Area

@matthey

Quote:
It looks to me like...
Quote:
directors = board [of directors] members


Board member is possibly more descriptive that "director". In publicly traded companies is not unusual to have management staff with a director title "i.e. director of lease operations" who is actually not part of the Board of Directors (BOD).


Quote:
The shareholders elect the directors who elect the officers.


Also not all officers are elected by the BOD. They can be simply hired to do the job.

In the linked source from Deloitte there a distinction between listed companies and non listed companies. My guess is that Hyperion is not a listed company.

Last edited by Nonefornow on 20-Aug-2018 at 11:02 PM.
Last edited by Nonefornow on 20-Aug-2018 at 11:01 PM.

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matthey 
Re: Hyperion forcibly deleted from Belgium's company register
Posted on 21-Aug-2018 0:48:23
#148 ]
Super Member
Joined: 14-Mar-2007
Posts: 1476
From: Kansas

Quote:

Nonefornow wrote:
Board member is possibly more descriptive that "director". In publicly traded companies is not unusual to have management staff with a director title "i.e. director of lease operations" who is actually not part of the Board of Directors (BOD).


Generically...

director = manager
board member = group member

I have heard of management titles called directors in larger businesses. I expect Hyperion is too small to have fancy "director" titles for anything but "director of the legal board".

Quote:

Also not all officers are elected by the BOD. They can be simply hired to do the job.


It should be possible if allowed by the Articles of incorporation/organization/association or corporate charter which the shareholders create. Corporations in the U.S. are very flexible. You are probably talking about larger corporations with multiple divisions and a daunting number of officers. The top level officers hire the division officers who are not company wide officers but further have delegated authority. Directors and officers are just high level managers with fancy titles. There are naming and delegation norms but few requirements.

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number6 
Re: Hyperion forcibly deleted from Belgium's company register
Posted on 5-Apr-2019 15:26:52
#149 ]
Elite Member
Joined: 25-Mar-2005
Posts: 11415
From: In the village

@matthey

Just curious, since this is far from my field of knowledge.
This thread died out in 2018 and the filings were brought up to date through 2017 at that time.

I note we are now in 2019 and no filings appeared for 2018.

Is this normal/accepted practice?

Ahh. nevermind:
https://www.nbb.be/en/central-balance-sheet-office/filing

#6

Last edited by number6 on 05-Apr-2019 at 04:06 PM.

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ggw 
Re: Hyperion forcibly deleted from Belgium's company register
Posted on 6-Apr-2019 4:13:02
#150 ]
Super Member
Joined: 24-May-2003
Posts: 1100
From: Austin, TX

@number6

Don't leave us hanging on the next word!

I followed the link and quickly lost interest in blindly following paths through that pretty big website.

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number6 
Re: Hyperion forcibly deleted from Belgium's company register
Posted on 23-Jun-2019 15:00:03
#151 ]
Elite Member
Joined: 25-Mar-2005
Posts: 11415
From: In the village

@ggw

Sorry. My link clearly stated 7 months, meaning there was a 7 month grace period (so to speak) in late filing. That would have meant by end of July, 2019.

However...

Although Pacer's last entry about an additional delay and rescheduling concerning the lawsuit did not mention anything else in their summary, Court Listener did.

Source

Quote:
Further, Hyperion is involved in a legal proceeding in the European Union that is expected to conclude toward the end of June 2019. The proceeding centers on whether Hyperion may continue as a legal entity in Belgium.


The fact that the 2018 accounts were never filed with the Central Balance Sheet Office of the National Bank of Belgium is common knowledge.
The fact that there is some legal proceeding about this underway is not common knowledge, afaik.

Edit added: obvious tie in above with recent posting:
Source
Additional Edit: changed central bank to exact/better title

#6

Last edited by number6 on 25-Jun-2019 at 05:02 PM.
Last edited by number6 on 23-Jun-2019 at 03:58 PM.

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Argo 
Re: Hyperion forcibly deleted from Belgium's company register
Posted on 23-Jun-2019 20:21:25
#152 ]
Regular Member
Joined: 8-Mar-2003
Posts: 311
From: St. Lawrence Co., NY, USA

@number6

Wow, they have lawsuits all over This one could end them all

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