p.p.s. What this means, AFAICS, is that the new company buys the good stuff from the old company for £1 (i.e. our rights), whilst leaving the debts (i.e. our royalties) to get written off via administration
p.p.s. What this means, AFAICS, is that the new company buys the good stuff from the old company for £1 (i.e. our rights), whilst leaving the debts (i.e. our royalties) to get written off via administration