You may recall, if you have read all of my posts (and why wouln’t you, they are literary gold!) that early on I posted some thoughts and links abou unpaid artists and the closure of Metero Studios:
http://www.thejuniorcompositor.com/2009/01/25/industry-the-state-of-the-visual-effects-industry/
It seems like some kind of agreement has been reached with the artists getting 70% of their wages. That’s right, 70% of their wages for producing A-level visual effects for a major VFX studio which was in turn part of the Discovery group. That is to say, Discovery are not exactly hurting for cash. There are more than a few galling aspects to this case, least of which is working for 3months and not getting paid. There is the fact the artists got shafted and not paid just before Christmas. That pretty much sucks the big one, but how about Meteor effectively shutting down and opening again with the same muppets running the business with the same equipment on the same premises? This is what happens with limited liability companies. They can go bankrupt/insolvent and wind up and there is nothing you can sue them for. They sell the equipment and facilities to another $2 company for cents in the dollar and start again as a “new and different” company.