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VIScorp Message: July 24, 1996
July 24, 1996
An Open Message to the Amiga Community
from Bill Buck, CEO, VIScorp:
1. Escom AG and Amiga Technologies GmbH are in bankruptcy and will cease
to exist as corporate entities. VIScorp has reached an agreement with the
Trustee for the liquidation of these companies and with the creditors of
these companies for the purchase of "Amiga." There were at least eleven
different banks or companies that had claims to be "owners" of the
technology and/or the inventory. Escom had liabilities of over $250
million. Imagine the confusion...
2. The steps that we had to follow through the last three months were
painstaking. As the situation at Escom deteriorated, we had to continually
re-negotiate our purchase contract. We could not speed-up the process.
Many things we wanted to begin immediately we have had to delay. The
situation at Amiga and Escom were extremely troubled. This was in part
because of the difficult financial and management situations at Amiga and
Escom, but also because of how poorly organized the intellectual property
had been under Commodore. In the course of the Commodore bankruptcy many
problems developed that were never repaired.
3. The final (and last of three) purchase contract was signed on Friday,
19 July. It cannot be changed; it has been executed. The intellectual
property of the former Commodore and the inventory of the former Amiga
Technologies will be owned finally by VIScorp. The final paperwork will be
completed in the next 30 days. During this month, VIScorp GmbH will be
registered and Amiga Technologies will continue to operate temporarily in
bankruptcy for VIScorp.
4. Petro Tyschtschenko and his staff will continue to operate from
Germany. Raquel Velasco and Petro Tyschtschenko will be the new General
Managers of Amiga, to be known as VIScorp GmbH. Al Duncan, a former
General Manager of Commodore will join VIScorp to manage the sales and
distribution of VIScorp and Amiga products in North America. Petro will
continue to operate from Germany and manage the existing business. Raquel
is looking for someone from the community to manage the re-organization of
the sales and distribution in Europe. Please contact <A
HREF="Raquel">mailto:email@example.com">Raquel if you are the right person for
5. The engineering efforts of the former Amiga Technologies and the
on-going engineering of VIScorp will be combined and professionally
managed. We intend to begin to implement the plans we outlined in Toulouse
6. Please excuse our lack of communication with the community over the
last months. We were severely restricted from communicating our
activities. Please resend your emails to any of the VIScorp staff if they
have not been answered by this letter. We simply could not answer all the
7. Do not expect miracles from VIScorp, expect slow, but steady progress.
Thank you for your continued support.