shpongled Posted September 18, 2002 Share Posted September 18, 2002 Bamboo Forest's first album was going to be released on Flying Rhino but as we know FR just bacame bankrupt.... so what's gonna happen to BF album? I was waiting this release. Quote Link to comment Share on other sites More sharing options...
Guest hippo Posted September 18, 2002 Share Posted September 18, 2002 best bet is to email one or the other online store, maybe even the label.. but with the release date being next week, everything is on the way already anyways, so there shouldn't be any trouble, right? otherwise the mp3 mafia comes into play, since the promo has been around for a while Quote Link to comment Share on other sites More sharing options...
Guest Elysium Project Posted September 18, 2002 Share Posted September 18, 2002 "but with the release date being next week, everything is on the way already anyways, so there shouldn't be any trouble, right?" When a record label go bankrupt no further scheduled releases will be released even the ones allready printed. Bamboo Forest will have to take the album to another label. I highly doubt that any lawyer involved in the bankrupcy act will say yes to further releases on Flying Rhino. Quote Link to comment Share on other sites More sharing options...
Guest hippo Posted September 18, 2002 Share Posted September 18, 2002 but from what I learned regarding executional law, it would even make more sense if they still sell their products. If they go bankrupt they have debts, those debts will be paid from what's left (kinda) and in a deal with all the creditors, where they usually get a certain % of the total debts, usually not more than 20%, will be taken care of. So selling already printed cds should bring in some extra money, since the money for producing everything was already spent. So I would assume that a good administrator will do anything to get more money for the creditors, since the rest will be taken from those who have the liability? maybe anyone knows of similar cases before? wouldn't be the first label to die and probably not the first one that was just about to bring out a release. Quote Link to comment Share on other sites More sharing options...
Guest Elysium Project Posted September 18, 2002 Share Posted September 18, 2002 yes it make sense to kepp selling old products hippo but the topic here was Bamboo Forests new not yet released CD! How would they be able to sell the new not yet released but scheduled CD's and then give the artists their royalties when they are gone bankrupt? That would not make any sense would it? They have enough creditors knocking on their door and mark my words...those creditors would end up taking all the royalty money earned by these new releases before any artists could say his/her A B C. And in the end even if they did try to seel the products (I am not talking about old releases but only new scheduled) the artists have a final say according to any country's law. I am sure no artists would say yes to a company that's all ready bankrupt...I do not think that any artists is that stupid or loyal. Quote Link to comment Share on other sites More sharing options...
Guest hippo Posted September 18, 2002 Share Posted September 18, 2002 very true, I wasn't thinking about the fact that the artists don't get their money until afterwards so indeed all the money would go to the creditors and none to the artists, my bad Quote Link to comment Share on other sites More sharing options...
Guest spacemonkey - 604 Posted September 18, 2002 Share Posted September 18, 2002 i agree, but if the cd's are already printed they have to go somewhere now wouldn't they? trowing them away is a option, but since they need money, selling is a better option. wouldn't there be some way to sell the cd's and rights to another label, which would mean BF would get their royalties and flying rhino more to pay of thier debt. this seems more reasonable then trowing away ready to be solld CD's this of course if the CD's are printed. Quote Link to comment Share on other sites More sharing options...
khogg Posted September 18, 2002 Share Posted September 18, 2002 That would be a tragedy if they just threw away hundreds or thousands of perfectly good psy CD's. Quote Link to comment Share on other sites More sharing options...
Strumpling Posted September 22, 2002 Share Posted September 22, 2002 Yeah hopefully they can find somebody else to distribute at least..... I heard it was gunna be a cool album too. Quote Link to comment Share on other sites More sharing options...
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