I'm not sure if this is good advice or not. I am most certainly not a lawyer.
I will say that when dealing with companies in a bankruptcy or wind down situation be very careful.
Often you'll find that their bankruptcy trustee will expect you to follow to the letter of the law the contract you signed while at the same time they'll use the shield of bankruptcy to their advantage to try and get out of their own duties.
I've seen this play out more than a few times. Usually with a small company providing a service to a larger one. When the small company goes under they'll still try to collect all revenue due from the larger company while telling the larger company that they are creditor 128 in line to collect what they are owed.
I think Joel Spolsky alluded to something similar, though much more dubious, where in the first dot com companies would sign contracts where it would be one company selling $200,000 of services to another, but in order to beef up the revenue of both companies they'd also do a "swap" of services so the contract would end up looking like A pays B $1,200,000 and B pays A $1,000,000.
So in theory things would net out to A paying B $200,000. However if A went bankrupt it would still try to collect the $1,000,000 owed to it by B but do their best to get a hair cut from anything they had to pay.
I will say that when dealing with companies in a bankruptcy or wind down situation be very careful.
Often you'll find that their bankruptcy trustee will expect you to follow to the letter of the law the contract you signed while at the same time they'll use the shield of bankruptcy to their advantage to try and get out of their own duties.
I've seen this play out more than a few times. Usually with a small company providing a service to a larger one. When the small company goes under they'll still try to collect all revenue due from the larger company while telling the larger company that they are creditor 128 in line to collect what they are owed.
I think Joel Spolsky alluded to something similar, though much more dubious, where in the first dot com companies would sign contracts where it would be one company selling $200,000 of services to another, but in order to beef up the revenue of both companies they'd also do a "swap" of services so the contract would end up looking like A pays B $1,200,000 and B pays A $1,000,000.
So in theory things would net out to A paying B $200,000. However if A went bankrupt it would still try to collect the $1,000,000 owed to it by B but do their best to get a hair cut from anything they had to pay.