Thread: Dreamspinner Press Restructures as Authors Cry Foul
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Old 01-20-2020, 04:40 PM   #12
j.p.s
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Quote:
Originally Posted by fjtorres View Post
Only if executed *before* bankruptcy.
Once the bankruptcy court takes over any such clause is void.
The copyrights become corporate *assets* to be sold to pay off creditors; secured debtors first and then if anything is left, the unsecured debtors. The contracts go to whoever buys them, even for pennies on the dollar.
What is the magic that allows top executives bonuses, golden parachutes, and pensions to survive bankruptcy?
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