toggle

AAPL Stock: 101.79 ( + 0.21 )

Printed from http://www.macnn.com

Psystar files for bankruptcy, delays Apple lawsuit

updated 01:55 pm EDT, Tue May 26, 2009

Psystar files for Ch. 11

Psystar has filed for Chapter 11 bankruptcy protection through a federal court in Florida, documents show. Although a sign of serious financial trouble, the move will also grant the Mac cloner a temporary reprieve from an Apple lawsuit, charging Psystar with breaking the Digital Millennium Copyright Act and the license agreement for Mac OS X Leopard. All legal actions against Psystar have been put on hold while bankruptcy proceedings get underway; the hold may be lifted within a few months, at the discretion of the judge.

A moment of crisis could come for Psystar on June 5th, the first date of the bankruptcy hearings. The company will be forced to disclose its equity creditors at that time, which may either confirm or debunk Apple suspicions that Psystar has an unusual amount of outside support. Some 10 groups or individuals are argued to have contributed to Psystar's actions, though Apple has so far been unable to name them.

Despite the filing Psystar is continuing to sell its cloned PCs, such as the Open(3) computer. The systems come preloaded with Leopard, but only as a result of unauthorized hacking methods. The company has pursued a countersuit against Apple, accusing it of abusing copyright to block hardware competition.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

  1. climacs

    Joined: Dec 1969

    +6

    scum

    can't believe anyone would piss away money buying a computer from this fly-by-night outfit.

  1. Bobfozz

    Joined: Dec 1969

    +7

    Go Get 'Em Apple

    When Rudy couldn't produce documents about his company (or I should say "wouldn't) that was a sign of "Get the money while we can and see how much we can keep later." Get the $$$ now and we'll get loyal fans and support. I don't feel sorry for any chumps who bought this system. Rudy isn't ignorant, but the buyers are.

  1. nomadman

    Joined: Dec 1969

    -6

    haha

    I smell chicken feathers.

  1. Jittery Jimmy

    Joined: Dec 1969

    +6

    Oops

    Equity creditors may have to come forward, but not someone that gave Psystar a "gift" with an unwritten contract for more "gifts" if things go their way. Certainly extremely easy to hide.

    Perhaps the judicial heat was getting too hot, so Psystar just pulled the plug in hopes that the discovery process disappears.

    With the reported lack of financial records, it seems like understanding Psystar's cash flow would be almost impossible. And therefore any creditors would have been foolish to loan them any money.

  1. Mr. Strat

    Joined: Dec 1969

    +2

    Let 'em die

    These scummy SOBs deserve to die on the vine.

  1. Mr. Strat

    Joined: Dec 1969

    -7

    Let 'em die

    These scummy SOBs deserve to die on the vine.

  1. kerryb

    Joined: Dec 1969

    +4

    This is getting good

    I can't wait to read the next chapter (no pun intended).

  1. honest_luk

    Joined: Dec 1969

    -4

    Alternatives?

    Do you like mushrooms? So look on the additional alternative rising as mushrooms after rain. For your convenience in automated translation http://translate.google.com/translate?prev=hp&hl=en&js=n&u=http://russianmac.ru/&sl=ru&tl=en&history_state0=

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Autodesk Smoke 2015

Since May of this year, Autodesk has been shipping the highly anticipated update to its high-end post-production video editing suite, ...

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

toggle

Most Commented