CompuServe Messages

"There is a million possible scenario's as to how the creditors get their $$$$'s, and what "our" world may look like when it's done." Not really. Most of the answers will be in the Commodore annual report which should show and define the corporate structure and whether or not any part of Commodore survives as a standalone entity. If everything is a wholly-owned subsidiary, any of the units surviving on their own is a very improbable scenario. In terms of how the creditors get whatever money they can, that's pretty cut and dried: 1) all the assets are appraised to determine their likely market value, 2) the claims of secured creditors against specific property are processed (this probably means all the real property, all the inventory, all the parts and supplies, all the patent rights, all the accounts receivable and everything else), 3) if any assets remain, they will be auctioned off, 4) proceeds of the auction are distributed to the secured creditors against their balances, if any, and the remainder to unsecured creditors, and 5) if anything remains, the proceeds are distributed to the shareholders. Under normal lending terms, secured creditors take a collateral interest in everything, absolutely everything, value not withstanding. If I understand things correctly, a bank owned by Gould or Gould himself was the last to advance Commodore funds. Depending on the lending agreement, this could make Gould the strongest secured creditor or among the weakest. It is also possible that the secured creditors will agree to an auction with the proceeds being distributed between them. Private sales of selected parts of the estate are also possible. I kind of doubt if you'll see anyone making an "Amiga" again, although licensees or new owners of some or all of the technology may wind up making dedicated machines for their own purposes (i.e., NewTek). Jerry