Reorganization at Nevrax - 2nd Phase

[lawrence]

Xavier has posted a statement about the second phase of the reorganization over at Nevrax. His announcement can be found here: http://ryzom.com/forum/showthread.php?t=13352

Feel free to discuss the announcement in this thread.

[sx4rlet]

Xavier has posted a statement about the second phase of the reorganization over at Nevrax. His announcement can be found here: http://ryzom.com/forum/showthread.php?t=13352

Feel free to discuss the announcement in this thread.

As I am not very familiar with US law, what does a chapter 11 mean?

[roninpvp]

As I am not very familiar with US law, what does a chapter 11 mean?

Basiclly chapter 11 means they cant pay their debts but want to stay in business (i.e. does not want to liquidate company to pay of debtors). Worldcom is a huge example of this.

below link for a better description of what chapter 11 means.

http://encyclopedia.thefreedictionary.com/Chapter+11+bankruptcy+protection

[b00ster1]

As I am not very familiar with US law, what does a chapter 11 mean?

Title 11 - Bancrupcy -> Chapter 11 - Reorganisation

[dc77066]

What's to discuss?

What are we looking for? A bunch of ex-players flooding the forums with "I told you so!" or "If you'd listen to me you wouldn't be in this mess" or "AOL keyword: Advertise"? A horde of fanbois chiming in with "Hang in there!" or "We haven't given up on you so don't give up on us!" or "I'll be playing until they pull the plug (said that one myself)."

I'm waiting to hear what Xavier and Mr. Corval has to say. I understand they are under great pressure from the Ryzom community, their investors, their employees and their support teams. Not to mention their creditors.

I'll pay my subscription on time. Heck, even while I was unemployed I was paying. Hope that helps y'all get back on your feet and allow us to continue with the Saga.

[systemv]

Don't know how it is in France but companies here rarely come out of something like this intact.

I guess E3 will be make or break - if they can't generate interest there I doubt this will be around much longer.

I hate the prospect of so much time wasted but I also recognize that this is a very trying time for them and they need all the support they can get. I can't make a promise of being here till the plug gets pulled but I'll definately be around to see what happens at E3.

GL Nevrax, you have a wonderful product; make other people realize this.

[thexdane]

actually the french version of chapter 11 is possible to come out of

the american bankruptcy system is unfair, it totally screws over the person for some mistakes that may or may not be their fault but that's another post and forum topic


as for the french version of chapter 11 it is possible to come out of it, a prime example of this is mandrakesoft now called mandriva

[layswan]

Well I know a little about company law etc and how it works.

It would appear Nevrax is in a bad position - but many companies go through very bad times and come out on top.

I say lets hear what they have to say.

And good look to you guys - you have the customer sup`port form this side - we are with you 100% (I reckon I speak for a majority of people here).

Ryzom is a great game and I think you can pull iit off.

I have my fingers crossed for you - and us all.

[sx4rlet]

Thank you all for answering, I thought it was something like that. But its better to know what it says, then to speculate what it says.

[michielb]

/worried

(what more is there to say?)