Titus bankrupt, IPLY lives?

[Odin]

According to Gamespot, Titus has filed for bankruptcy and Interplay has reopened. Here's what Tor posted:<blockquote>...CEO Herve Caen succeeded in acquiring workers' compensation insurance for the financially ailing company, thereby allowing work to resume at its Irvine, CA offices. The offices were forcibly closed Friday by state labor inspectors due to lack of workers' compensation insurance and unpaid wages.


Ironically, the good news for Interplay came on the same day the publisher's majority shareholder, France-based Titus Interactive, declared bankruptcy. Speaking to GameSpot, sources close to the developing story said they heard news of the bankruptcy from Caen himself.</blockquote>Oooh..from Hervie himself, meh..wouldn't put to much into it..
Link: IPLY reopened, Titus bankrupt

EDIT: Caen says: <blockquote>"(Titus' bankruptcy) doesn't affect us in any way, shape or form," the Register quotes him as saying. Caen is hoping that funding through investment bank SG Capital will help get the troubled company back on its feet.</blockquote>Link: Interplay reopened, Parent Company Frozen on IGN PC Games
-Kharn

 

[Odin]

wow, so that's how we link to the sites that brought the news...*caughtlameasscaugh*

(don't worry guys...internal joke)

 

[Pope Viper]

Going to be a interesting week.

Any bets as to what Herve's "MASTER PLAN" is this time?

Sure to be a slam-dunk, I'm sure.

 

[Montez]

Work can resume at Interplay if any employees are dumb enough to show up for a job that doesn't pay them and has no prospects of being able to pay them. Honestly, how can "work resume" there? They're basically squatting at this point.

 

[Egis]

So they were at the edge of death and now theire going like nothing has happened.Sauneds like a nother evil genuis version: now with his minions back he can take over the world.OR thei realy are gona climb out of this shit. : : :

 

[agsilva]

Strange fishy smell

Look through the available financial statements for IPLY and TITUS and you'll definitely see signs of fishy activity going back several years. H.Caen always talked about creating value for the stockholders, but of course, he and his brother (though the various holding companies, etc.) are the major stockholders. They very carefully structured their company bylaws to retain voting control even when they didn't have apparent majority stock ownership. Further they strategically issued convertible bonds to adjust financials to suit themselves and regulators. I would suspect that a deep investigation would reveal practices that are legal but maybe not so ethical due to conflicts of interest. Then again since they are designed to serve themselves and almost anyone could have seen what was up, it really is an investor beware type of situation.

Anyway, I think that any payments of insurance premiums (or backpayments) are either a deception to keep up the charade of viability or just stop gap measures. Since much of the potential cash out value lies with INPLY I wouldn't be surprised if the brothers had arranged things to leave them in control of INPLY regardless of TITUS' situation. They are legal independent companies after all. My guess is that they have been looking at a way to cash out on the value of Black Isle, Fallout, and the good stuff for some time, while dumping the substantial liabilities. Certainly they have cashed out many of the really crappy assets. No one is interested in buying INPLY I suspect, only its assets.

Frankly, I think the whole house of cards is coming down. This could mean Fallout either remains with these parasites (as the jewel) or they ditch it to someone who also wants to milk it. Or maybe they really just don't get what it is worth (but I doubt that). I really don't see it going to a developer or publisher who cares because

1) If INPLY (Caen, et. al) have any inkling of the worth of Fallout they'll ask too much thus scaring (sp?) off any good pub/devs or,

2) They dump it to some low paying shmuck who likewise wants to cash in on it or,

3) They could (as stated previously) manipulate things to retain it.

There are other interesting options already underway (as far as the interests of the community are concerned), but I don't even think that those participating realize it yet. I can't say how because it would ruin it, but what I will say is everyone should keep up what you are doing and Fallout 3 or whatever will arrive, just not in a way you suspect. Cryptic (and theoretical just so you don't think I have some inside knowledge of a developer or something) but there is very definitely something in the works. Open discussion would surely kill it so you'll just have to figure it out for yourself at this point. Once I see how this recent news plays out then maybe I'll drop a hint for those who want it. It is NOT a mod or something like that BTW, but it does involve you already . Yes you.

 

[Capelworth]

Re: Strange fishy smell

Frankly, I think the whole house of cards is coming down. This could mean Fallout either remains with these parasites (as the jewel) or they ditch it to someone who also wants to milk it. Or maybe they really just don't get what it is worth (but I doubt that).

Check out the oustanding security interests on the Fallout trademark at the USPTO.

 

[Executioner]

Titus sells all of its Interplay shares in an effort to stay alive. This sudden selling of the majority of Interplay shares then causes the share price to drop so low that you couldn't pay a hobo off the street to take some. Its what happens when you screw bloodthirsty Fallout fans.

What's the name of that snake that grew so large it started devouring itself?

 

[Executioner]

Re: Strange fishy smell

Frankly, I think the whole house of cards is coming down. This could mean Fallout either remains with these parasites (as the jewel) or they ditch it to someone who also wants to milk it. Or maybe they really just don't get what it is worth (but I doubt that).

Check out the oustanding security interests on the Fallout trademark at the USPTO.

Interesting...so, the Fallout trademark is owned by a credit corporation?

 

[Brother None]

Re: Strange fishy smell

Frankly, I think the whole house of cards is coming down. This could mean Fallout either remains with these parasites (as the jewel) or they ditch it to someone who also wants to milk it. Or maybe they really just don't get what it is worth (but I doubt that).

Check out the oustanding security interests on the Fallout trademark at the USPTO.

Interesting...so, the Fallout trademark is owned by a credit corporation?

Yes, Greyrock. It has been for some time.

However, as far as I know, IPLY still has part of the trademark, just not most of it.

wow, so that's how we link to the sites that brought the news...*caughtlameasscaugh*

Ehehehehe

 

[Briosafreak]

The article has been updated, go check it.

 

[agsilva]

Ah...

So I am not the only one who sees what might come ? A relief...

However those records only show that the mark has been used as security (probably for loans) not that grey (or whoever it was) currently has an interest (ownership) in it. In fact it was released I think is what the last bits show. I don't really fully understand how to interpret everything on those pages, but if you begin to think about things you'll see what I was hinting at. The key is to keep on the low down until someone is willing to take things to the logical ultimate step. Since that will no doubt involve a fight (and money) I don't see any point in raising awareness of the issue.

No one should interpret this to mean someone is going to buy the trademark. That is just silly (seriously). Of course some publisher might nonetheless, but ask yourself what does another developer really need to make Fo3? More than just the trademark, right? Don't answer or (I repeat) you'll spoil things for the bold.

AS for the update, Interplay has convinced some sucker to provide worker's comp. Is that even true? Did they pay a premium (one assumes so) or was it merely backpaying what was owed? Pure propaganda if you ask me though of course there will be SOME truth in it.