Olivier,
Here is my
understanding:
Bankruptcy (by which I
mean filing for bankruptcy in Bankruptcy Court) itself would
not affect the existence of the SO/ACs and CCWG, which
currently don't legally exist as separate entities anyway.
One of the potential end results of a bankruptcy is a
dissolution of an entity, with a winding down of the business,
sale of assets and payments to creditors (by order of
priority, and often at "pennies on the dollar"). That is the
worst case scenario of bankruptcy. A dissolution could result
in the end of ICANN as we know it.
The better case in
bankruptcy is a restructuring or reorganization of the
bankrupt entity, allowing it to resolve its debts, restructure
or eliminate obligations, and then emerge from bankruptcy as a
"slimmed-down" healthier entity. It's up to board and
management of a failing or "flailing" company to declare
bankruptcy when the company is still healthy enough to file
for a restructuring, rather than a dissolution.
If the SO/ACs became
unincorporated associations, the bankruptcy of ICANN would
have no effect on the existence of the SO/ACs (which would
then be legal persons).
This is my
understanding of the general rules as they relate to business
entities. The rules of bankruptcy could be significantly
different for non-profits, but probably would not change the
direct answer to your question.
Greg Shatan
Caveat: I am not a
bankruptcy lawyer and this is not legal advice.
On Fri, Apr 17, 2015 at 6:27 PM,
Olivier MJ Crepin-Leblond <ocl@gih.com> wrote:
Dear Avri,
the document does not include the case of ICANN bankruptcy which I mentioned on the conference call.
Should it be included? Furthermore, in the unlikely event of ICANN bankruptcy would ACs, SOs and a CCWG actually still legally "exist"?
Kindest regards,
Olivier
On 17/04/2015 12:38, Avri Doria wrote:
hi,
the correct drive link.
https://docs.google.com/document/d/1WvBqtgXJ7rNrbN-5Tjf5-gi80aZ2oRYDtF_JLrETRqg/edit?usp=sharing
avri
On 16-Apr-15 22:39, Avri Doria wrote:
Hi,
A first draft of a possible separation mechanism is available
<https://docs.google.com/document/d/1pjRsvePXLHrK0zzFmMcavzvSXehds5FTCEUPPcc7K6w/edit?usp=sharing>
The drive document remains open for suggested edits and comments.
For convenience, have attached a word and pdf version
avri
This email has been checked for viruses by Avast antivirus software.
www.avast.com
_______________________________________________ CWG-Stewardship mailing list CWG-Stewardship@icann.org https://mm.icann.org/mailman/listinfo/cwg-stewardship
This email has been checked for viruses by Avast antivirus software.
www.avast.com
_______________________________________________ CWG-Stewardship mailing list CWG-Stewardship@icann.org https://mm.icann.org/mailman/listinfo/cwg-stewardship
_______________________________________________
CWG-Stewardship mailing list
CWG-Stewardship@icann.org
https://mm.icann.org/mailman/listinfo/cwg-stewardship