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Besides bankruptcy there is also shutting a business down, in which case are no new owners. Lavabit and Silent Circle being examples of businesses that shutdown
by markstos 4mo ago
Besides bankruptcy there is also shutting a business down, in which case are no new owners. Lavabit and Silent Circle being examples of businesses that shutdown rather than comply with laws they didn't like.
- Ukv 4mo agoShutting down operations as Lavabit/Silent Circle did doesn't negate existing contractual obligations. Voluntarily dissolving the company would also involve completing performance of outstanding contracts.
- jandrewrogers 4mo agoHow would this solve anything? Performance under existing contracts is still required to shutdown. The mechanisms for getting around contract performance without bankruptcy essentially require handing control of the company to the contractual counter-parties.