• ComradeSalad@lemmygrad.ml
    link
    fedilink
    arrow-up
    10
    arrow-down
    1
    ·
    1 year ago

    When a company declares bankruptcy all of its assets are gathered together and sold off by liquidation lawyers to cover as much of the debt owed to creditors as possible.

    This process will sell anything not bolted to the ground and the process will squeeze every last penny out of the insolvency. In this case it seems the patents, technology rights, licenses, and so on were liquidated and sold to the highest bidder as per usual. Since those new owners are not beholden to any contractual obligation made by the previous company, actual user are left to suffer.

    Revolting.