Mandrakesoft: Mandrakesoft Exits Bankruptcy

“The Commerce Court today accepted Mandrakesoft’s exit plan from
‘redressement judiciaire’ (Chapter 11 like protection). The plan
was approved as proposed by the company and its court appointed
administrator.

“The plan provides for the payment of creditors, without
recapitalization as a precondition, over a period of nine years.
The turnaround was largely made possible by improvements in the
company’s financial results–Mandrakesoft recently recorded its
first profitable quarter since 1999. This signals the return to
normal operations for Mandrakesoft after a 14 month observation
period…”

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