GameSpot clarifies

Brother None

Brother None

This ghoul has seen it all
Orderite
In hindsight, Gamespot had to clarify and rectify some of its earlier statements. Titus has indeed not gone bankrupt in the traditional sense of the word, rather they avoided being liquidated by "redressement judiciare" which in American is known as a receivership. Clarification:<blockquote>According to the news service AOF, Titus has entered redressment judiciare, the French form of receivership. For the layman, receivership is a form of bankruptcy in which a company can avoid liquidation by reorganizing with the help of a court-appointed trustee. The Tribunal of Commerce of Meaux halted the trading of Titus shares midday yesterday at 0.16 euros ($0.20) per share. Titus stock will remain suspended pending a review of Titus' finances and those of its two French subsidiaries, developer Sofra Games and distributor Avalon France.</blockquote>Link: Gamespot Article

Thanks Briosafreak
 
Not entirely sure about this, but if this is handled similar to how it is done where I live, while this move protects Titus from its creditors, the company is now in essence under the control of this trustee.
This guy is then supposed to work in the best interests of everybody involved, that is, for the employees, the creditors and the shareholders - in that order. The primary goal would be to keep the company afloat as this protects the interests of the employees and will most often pay off more of the creditor's debts in the long run than any other solution (of course, this requires some agreementl with the creditors).
Whether this is possible or not, the matter is out of the shareholders' and the current managment's hands. Shareholders will only get what's left after the other creditors are satisfied, which is in the best of cases a somewhat reduced share in the revitalized and now debt-free company. In the worst case, it's liquidation anyway and poor Herve (and his brother and the other shareholders) will receive nothing at all.

Then again, I might have misunderstood this entirely.
 
Funny how a little while after I suggest a translation and a definition, Gamespot updates its respective piece of news
Makes one wonder...
 
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