Re:Ask HN:DippinDots is going bankrupt can someone buy their...
by pavel_lishin on Friday November 04, 2011 @04:20PM
(#3197551)
> perhaps the fanpage would be counted as an asset
But it's not something they own, right? If anyone owns it, it's Facebook.
Re:Ask HN:DippinDots is going bankrupt can someone buy their...
by cd34 on Friday November 04, 2011 @04:33PM
(#3197587)
I think it would be a pretty good test of the value of social media. If anything, they could create a small spinoff that manages their social presence, which could be converted which may not violate any T&C that Facebook has.
However, it could be counted as goodwill which is not a tangible asset. There is intrinsic value in it, but, you'd have to hope Dippin Dots knows that, and a creditor also places a value on it.
Otherwise, as the original poster suggested, it might just vanish.
Chapter 7 and 13 are the ones where the company is liquidated and ceases to function.
IF they are not able to use their cash as collateral for the loan from Regions Bank, then, they will amend their filing and at that point, perhaps the fanpage would be counted as an asset - at which point creditors would be first in line to obtain the asset.