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      /  Hyperion Entertainment - Reorg/Restructure
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PosterThread
Rob 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 29-Mar-2024 18:18:58
#241 ]
Elite Member
Joined: 20-Mar-2003
Posts: 6351
From: S.Wales

@number6

Entrepreneurial skill - Travelling- Fairground operator

https://docs.google.com/file/d/1RnGBdluw_ZGZMONYg9h8S_omn82RUT6o/edit

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OlafS25 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 29-Mar-2024 18:19:25
#242 ]
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Joined: 12-May-2010
Posts: 6341
From: Unknown

@Kronos

I thought the same only interesting will be excuse. This time Corona is hardly convincing

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BigD 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 29-Mar-2024 18:24:32
#243 ]
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Joined: 11-Aug-2005
Posts: 7323
From: UK

@number6

They are not taking back my copy of OS3.2. That's mine you hear! I not going to settle for 3.X! It's not going to happen!

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John Lasseter, Co-Founder of Pixar Animation Studios

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number6 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 29-Mar-2024 18:38:00
#244 ]
Elite Member
Joined: 25-Mar-2005
Posts: 11588
From: In the village

@OlafS25

Nah. Pandemic excuse has been way too overused by everyone who fails.

I'll give even odds this time it will be:

Bofidi

#6

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number6 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 30-Mar-2024 16:04:22
#245 ]
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Joined: 25-Mar-2005
Posts: 11588
From: In the village

@thread

Just some slightly different wording here from the news articles. Whereas the articles/reports on several websites state "proceedings reopened", this official site clearly states:
Quote:
was declared bankrupt by the court


Source

Hopefully this offers some clarification as to meaning.

#6

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Rob 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 30-Mar-2024 17:42:08
#246 ]
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Joined: 20-Mar-2003
Posts: 6351
From: S.Wales

@BigD

Hyperion have probably crashed more times than Starbug.

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Kronos 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 30-Mar-2024 17:46:19
#247 ]
Elite Member
Joined: 8-Mar-2003
Posts: 2562
From: Unknown

@Rob

Next benchmark is Boeing!

Last edited by Kronos on 30-Mar-2024 at 07:53 PM.

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OneTimer1 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 30-Mar-2024 18:02:07
#248 ]
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Joined: 3-Aug-2015
Posts: 981
From: Unknown

@Thread

That is not dead which can eternal lie,
And with strange aeons even death may die.

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BigD 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 30-Mar-2024 21:51:30
#249 ]
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Joined: 11-Aug-2005
Posts: 7323
From: UK

@Rob

Quote:

Rob wrote:
@BigD

Hyperion have probably crashed more times than Starbug.


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OlafS25 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 30-Mar-2024 22:59:23
#250 ]
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Joined: 12-May-2010
Posts: 6341
From: Unknown

@BigD

some news

https://www.amiga-news.de/en/news/AN-2024-03-00105-EN.html

According to the Belgian Business Register, there is now another company called Ben Hermans B.V., founded on March 11 of this year. The provider faillissementsdossier.be, which centrally processes up-to-date information on Belgian company insolvencies and similar events, has an entry for the original Ben Hermans B.V., which claims "Ben Hermans [...] was declared insolvent by a court in Brussels on 19.03.2024"

I am a little confused what this really means

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AmigaBlitter 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 1-Apr-2024 9:53:40
#251 ]
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Joined: 26-Sep-2005
Posts: 3513
From: Unknown

@OlafS25

I wonder what this could mean to the future of Amiga.

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number6 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 1-Apr-2024 15:09:27
#252 ]
Elite Member
Joined: 25-Mar-2005
Posts: 11588
From: In the village

@thread

Although the facts presented are undeniable, there are certain agreements in place between the principals that may affect the outcome.

In addition re:the new Ben Hermans entity, there is a comment on Amiganews I believe to be accurate:

Quote:
I assume that Ben Hermans needs this construct for his full-time work as a lawyer.


Put another way...my understanding from conversations is that a legal entity gone bankrupt in Belgium can lose his rights to practice law. If this is not correct, please let me know.
However, this -would- explain- the need to establish the new legal entity being discussed.

#6

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matthey 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 1-Apr-2024 23:29:39
#253 ]
Elite Member
Joined: 14-Mar-2007
Posts: 2012
From: Kansas

#6 Quote:

Nah. Pandemic excuse has been way too overused by everyone who fails.

I'll give even odds this time it will be:

Bofidi


OlafS25 Quote:

some news

https://www.amiga-news.de/en/news/AN-2024-03-00105-EN.html

According to the Belgian Business Register, there is now another company called Ben Hermans B.V., founded on March 11 of this year. The provider faillissementsdossier.be, which centrally processes up-to-date information on Belgian company insolvencies and similar events, has an entry for the original Ben Hermans B.V., which claims "Ben Hermans [...] was declared insolvent by a court in Brussels on 19.03.2024"

I am a little confused what this really means


It looks like the old business shell game which has been overplayed on the Amiga before. Transfer the valuable assets of the business to a new entity while leaving the debt behind with the old entity which declares bankruptcy.

https://sites.google.com/site/amigadocuments/ Quote:

As Amiga Delaware turned against Hyperion Entertainment, Hyperion Entertainment appeared to express surprise at the sequence of events it had previously accepted: "Subsequent developments in this case have only strengthened the evidence supporting the claim that ITEC engaged in the fraudulent conveyance of Amiga Washington's assets, first from Amiga Washington to ITEC, and then from ITEC to KMOS/Amiga Delaware, and that those acts damaged both Hyperion Entertainment and other creditors here in Washington, where Amiga Washington's assets were located."

...

At the same time, the Amiga community observed with passion how Hyperion Entertainment's lawyer-owners aggressively exploited the move from Washington to Delaware (which Hyperion Entertainment had previously accepted), using it to further attack the Amiga companies, as if the claim of the missing $250 payment was not sufficient to win or settle the case to Hyperion Entertainment's advantage.


Hyperion hypocritically complained about Amiga IP transfer shell games previously and now they appear to be using the same shenanigans. Does anyone think the old Ben Hermans B.V. debt was transferred from the old to the new B.V.? If this was the case, the new B.V. would be declaring bankruptcy instead of the old B.V. The valuable assets (stock) was transferred while the debt was left behind in an empty shell to disappear. There wasn't even an attempt to disguise the shell game by renaming businesses as the same name was reused for the new B.V.

Of course these shenanigans are illegal. Amiga Corporation and Michele Battilana are the ones most hurt by the shell games as it appear to be an attempt to eliminate debt without being forced to sell the Hyperion Entertainment stock. This should be reported to the proper Belgium authorities and challenged in court if necessary. The shell games make it more difficult to show standing though. Showing authorities that Ben Hermans is a con man with all of his shenanigans should be easy enough and authorities should be sympathetic to his victims. Court cases and especially a criminal conviction would likely be more difficult.

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number6 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 2-Apr-2024 0:28:23
#254 ]
Elite Member
Joined: 25-Mar-2005
Posts: 11588
From: In the village

@matthey

Read and refresh the comment section from the Amiganews.de (German version) story.

Some interesting interpretations appear.

#6

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DiscreetFX 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 2-Apr-2024 3:42:14
#255 ]
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Joined: 12-Feb-2003
Posts: 2495
From: Chicago, IL

@OlafS25

Does it mean it's an April Fools joke?

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matthey 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 2-Apr-2024 5:50:02
#256 ]
Elite Member
Joined: 14-Mar-2007
Posts: 2012
From: Kansas

#6 Quote:

Read and refresh the comment section from the Amiganews.de (German version) story.

Some interesting interpretations appear.


Yes. It looks like Ben Hermans posted with some useless lame excuse. Post #18 by Fein is interesting though.

https://www.amiga-news.de/de/news/comments/thread/AN-2024-03-00105-DE.html?frm_start=18 Quote:

Fein (31-Mär-2024, 22:29)

Am 19. März 2024 wurde ein Konkursverfahren gegen Ben Hermans BV eröffnet.
Da Ben Hermans BV der Mehrheitseigentümer und Geschäftsführer von Hyperion
Entertainment CVBA ist, bedeutet dies, dass beide Unternehmen von einem
gerichtlich bestellten Insolvenzverwalter verwaltet werden.


Google German to English translation...

Quote:

On March 19, 2024, bankruptcy proceedings were opened against Ben Hermans BV.
Since Ben Hermans BV is the majority owner and managing director of Hyperion
Entertainment is CVBA, this means that both companies are owned by one
managed by a court-appointed insolvency administrator.


If true, this may imply that an "insolvency administrator" is already aware and involved as of March 19. This is soon after the new Ben Hermans BV was founded on March 11. Perhaps he has already been caught trying to play the shell game? Is this what you were referring to or did you see something else?

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OlafS25 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 2-Apr-2024 11:39:45
#257 ]
Elite Member
Joined: 12-May-2010
Posts: 6341
From: Unknown

@DiscreetFX

Date is 29.3., not 1.4.

so no april joke

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number6 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 2-Apr-2024 15:31:25
#258 ]
Elite Member
Joined: 25-Mar-2005
Posts: 11588
From: In the village

@matthey

Is not the post by "Fine" basically a word for word repost of the Amiga Documents tweet?

#6

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matthey 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 2-Apr-2024 15:37:38
#259 ]
Elite Member
Joined: 14-Mar-2007
Posts: 2012
From: Kansas

OlafS25 Quote:

Date is 29.3., not 1.4.

so no april joke


Even the OlafSch = Olaf Scholz joke in the comments was too early for April 1.

#6 Quote:

Is not the post by "Fine" basically a word for word repost of the Amiga Documents tweet?


Right. Amiga Documents appears to be the source of the post and is very up to date with "More details to be added." Somebody seems to be investigating this topic with interest and is ahead of me.

Last edited by matthey on 02-Apr-2024 at 03:45 PM.

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number6 
Re: Hyperion Entertainment - Reorg/Restructure
Posted on 2-Apr-2024 15:54:09
#260 ]
Elite Member
Joined: 25-Mar-2005
Posts: 11588
From: In the village

@matthey

Quote:
Somebody seems to be investigating this topic with interest and is ahead of me.


Perhaps that "Somebody" should be plural?

#6

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