DxO Labs in receivership

[davidedric]

According to various news feeds, e..g. https://petapixel.com/2018/04/23/dxo...opened-report/

DxO Labs is the software company, not the lens testing bit. Hopefully, it will be ok.

Dave

[Donald]

This is potentially awful news.

I use DxO PhotoLab and the Nik packages.

If anyone hear any more about the fate of the software, please post it up.

[Manfred M]

A quick scan of some of the articles suggests that DxO went into receivership in early March and is working on restructuring its debt and looking for investors (i.e. someone to buy the business), rather than going into liquidation. Let's hope that they succeed.

[rpcrowe]

Poor, poor NIK Software It seems that NIK is the red headed stepchild of the photo editing industry.

I was just about to pull the plug on buying DXO Photolab

[NorthernFocus]

...I was just about to pull the plug on buying DXO Photolab

Maybe we use the expressions differently. I was considering pulling the trigger on buying it but now I think I'll pull the plug instead

It wasn't that long ago they pursued NIK. Surely they already had financial issues at that time. Maybe NIK pushed them over the edge. Better get that stuff off your machine. Bad juju

[DanK]

Better get that stuff off your machine. Bad juju

My reaction was the opposite: better keep a copy of the installation file for NIK.

[billtils]

From what I've read it looks more like a Chapter 11 type thing than out and out receivership. Basically a legal manoeuvre to protect them from creditors and allow them to continue trading while they try to sort things out.

[William W]

From what I've read it looks more like a Chapter 11 type thing than out and out receivership. . .

I don't know what a 'Chapter 11' is, but the Petapixel's link that was cited in the OP had the heading: "DxO Labs in Receivership, Bankruptcy Case Opened: Report" - yet in the copy text, Michael Zhang cites a 'Canon Rumors Forum' and copies some text from that Publication.

The salient point being is the text quoted from Canon Rumors Forum states that an Administrator was appointed.

I am not cognisant of the legal company proceedings in France, but I do know that in some Jurisdictions the Appointment of an Administrator is quite diffident to a Company being placed in Receivership.

The fact that Zang went on to cite Wikipedia's definition of "Receivership', seemingly to add credence to his headline, is, in my opinion very poor Journalism, if one might term it journalism at all - more like sensationalism: that's rampant on the www and it bodes well to call so called journalists to account to show evidence to corroborate their headlines.

WW

[DanK]

From what I have read, how much a company can preserve after filing for bankruptcy varies from country to country. I have no idea what the law might be in France.

I have my copy of the Nik installer safely stored....

[William W]

. . .
The salient point being is the text quoted from Canon Rumors Forum states that an Administrator was appointed.

I am not cognisant of the legal company proceedings in France, but I do know that in some Jurisdictions the Appointment of an Administrator is quite diffident to a Company being placed in Receivership. . .

I think my meaning could have been cryptic, sorry.

My point was (for example as applicable to my Company, not that it has happened nor likely to happen) the appointment of an "Administrator" is not uncommon nor something necessarily to be feared by a Company. An Administrator is a "professional fixer"; the goal being to keep the Company both solvent and also trading. On the other hand a "Receiver" is more a "professional chopper-upperer", charged with cutting up the Company for the best returns to pay off the debts accrued. Once a "Receiver" has been appointed, there is likely little chance that the Company will survive.

Additionally, a Company filing for "Bankruptcy" is not uncommon and may be the first step (a fiscally and tactically favourable step) in a Company Restructure.

Again, this is my understanding applicable to the Rules, Prudent Management and Laws under which I work; I am only surmising that similar and very important technical differences apply to the terms used for Company Law which are applicable in France.

WW