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Home > Letters to CR

Nat Gertler On The Foglios And Rights Reversion
posted April 10, 2013
 

Your coverage on Phil Foglio and his Girl Genius prose novels, as handy as it is, seems to rest on the assumption that he just didn't have a proper rights reversion capability in his contract, and that if people would just get such into their contracts, they would be safe if their publisher went bankrupt.

Assuming what I've been told by more than one lawyer is correct, that's not the case. The problem is that in the event of a bankruptcy, such reversion clauses are effectively void. That's because at bankruptcy, those rights are the asset of the company, and it's in bankruptcy that the distribution of assets is established. The whole point of bankruptcy is that a company cannot live up to its contractual obligations, and so we cannot say that their contractual obligation has to be fulfilled.