MandrakeSoft is currently operating under bankruptcy protection, which was granted by the French courts on January 27, 2003. Despite its efforts to cut losses and improve profits, MandrakeSoft was forced to file for protection due to a series of quarterly losses. The "declaration de cessation des paiements[?]" (similar to the US Chapter 11) gives the company protection from its creditors for six months. MandrakeSoft claims that the filing will enable it to reorganize its liabilities, and continue its current operations.
Search Encyclopedia
|
Featured Article
|