"On June 2, 2003, the management of CreamWare filed an application for protection from creditors, akin to Chapter 11 proceedings under US law. According the company, the driving force behind this move was the delay of the software for the Noah synthesizer until May, while full production of the hardware began in March, putting the company under financial pressure. The Noah is now shipping.
The business of CreamWare GmbH will remain in full operation. The company will continue to maintain its full staff of 55 employees. CreamWare has filed a plan to return from insolvency which is currenty under examination and is working to secure agreements with its suppliers.
CreamWare has stated that product development and support will continue at full scale. The technological platform the Company uses will not only be maintained, but also will be refined and expanded in order to provide continued product updates and releases."
No comment...
