[SWLUG] FW: Reg Headlines Friday January 17

[Davage, Marcus]

Oh Dear. For all you Mandrake users out there...

Marcus

<snip>
-----Original Message-----
From: update at list.theregister.co.uk
[mailto:update at list.theregister.co.uk] 
Sent: 17 January 2003 03:00
To: Reg Subscribers
Subject: Reg Headlines Friday January 17

    Mandrakesoft goes tits up
    Runs to bankruptcy court
        http://www.theregister.co.uk/content/4/28895.html
</snip>

Here is the company's statement....
 
<snip> 
MandrakeSoft News

   MandrakeSoft's financial reorganization 2003-01-15 

The liabilities accumulated by MandrakeSoft through a series of quarterly
losses have prompted the company to file for "declaration de cessation des
paiements". The filing, similar to the U.S. Chapter 11-Reorganization, took
place on January 13, 2003. 
This reorganization of liabilities enables MandrakeSoft to continue its
current operations, which are showing increases in revenue and significant
decreases in expenses. MandrakeSoft's strategic partners are supporting the
company in this process and the MandrakeSoft team is focused on continuing
to deliver high quality services and products to its customers. 

Following this filing and with the support of the court via a
court-appointed Administrator, MandrakeSoft will be protected from its
creditors, renegotiate its liabilities and prepare a continuation plan to be
approved by the French Court in the coming months. 

Version 9.0 of the product was a success both technically and commercially
and the company is now focused on Version 9.1 which will be announced as
scheduled in April. 
</snip>


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