Publisher down the tubes

Sargentodiaz · Apr 8, 2011

What a kick in the arse!
Wait for over a year to find out when your novel is going to be released - and learn the publisher is folding!!!
Virtual Tales, according to their group messages - is out of business!
So now, where to? :Shrug:

MacAllister · Apr 8, 2011

I hate to be the bearer of potentially even worse news, but...well...there's potentially worse news. Check your contract closely; just because the publisher folded doesn't mean your rights automatically revert.

You may not have other options, actually -- since it's very likely still considered a publisher asset, and may not be your book to do anything with.

(Giving this thread a ride to the AW Roundtable, since it's not actually a paying market item.)

Sargentodiaz · Apr 8, 2011

Thanks - one of the message sent was that a contractual obligations are null and void and all rights revert to the authors.

Cyia · Apr 8, 2011

Well, since you have the rights and it was never actually published, but you got the benefit of an editor, hopefully you've got an even stronger MS to entice others with.

Momento Mori · Apr 8, 2011

Not to try and spoil the party, but has anyone checked that under the insolvency law of the applicable contract jurisdiction Virtual Tales can just give everyone their rights back? I'm only asking because under English law the insolvency practitioner would have the right to claw them back if it wanted to recoup money for creditors.

I don't know what the position is under US law, but personally I would want to confirm it before shopping any manuscript around (even one that has not been published) because any reputable publisher should be wary of taking on a manuscript that might still carry publication rights to it.

MM

sheilas_world · Apr 8, 2011

Whoa, that majorly sucks! But, if you're getting all your rights back, at least you can send it out somewhere else.

Hallen · Apr 8, 2011

Momento Mori said:
Not to try and spoil the party, but has anyone checked that under the insolvency law of the applicable contract jurisdiction Virtual Tales can just give everyone their rights back? I'm only asking because under English law the insolvency practitioner would have the right to claw them back if it wanted to recoup money for creditors.

I don't know what the position is under US law, but personally I would want to confirm it before shopping any manuscript around (even one that has not been published) because any reputable publisher should be wary of taking on a manuscript that might still carry publication rights to it.

MM

I think that would be the case under bankruptcy hearings. The rights would be considered an "asset" of the company. The entity that owns the rights still exists while in bankruptcy.

But, if the company just folds, and they have no outstanding debts, then it makes sense for the rights to revert since the entity that owned them no longer exits.

Phaeal · Apr 8, 2011

Ugh. That is truly nasty. You've earned the right to a King Lear in the nearest howling storm, followed by reckless indulgence in whatever reasonably legal substance soothes your beast, followed by sending that baby out again.

Always, out again.

Condolences.

lastlittlebird · Apr 8, 2011

awww... I'm so sorry, that sucks.

:Hug2:

kaitie · Apr 8, 2011

I'm so sorry. Not much I can really offer to help the situation, so *hugs*

Catadmin · Apr 9, 2011

Regardless of the email sent to you, Mac is correct. You need to check your contract to be sure. Don't take their word for it. Make sure you've got that legal "out" clause.

Purple Rose · Apr 9, 2011

Ouch, not nice to hear this. I'm sorry and hope that it is as Hallen says so you will get your rights back. All the best!

DrZoidberg · Apr 9, 2011

At least you at some point got some good news. If this publisher picked it up, chances are that whatever got these people to pick it up, also will prompt others to do the same.

Alessandra Kelley · Apr 9, 2011

I'm so sorry. I hope things work out for you.

Nick Blaze · Apr 9, 2011

I wish you the best of luck!

Anne Lyle · Apr 9, 2011

Hugs - that bites!

happywritermom · Apr 9, 2011

I am so sorry. What an unbelievable bummer.
But better that this happened now before you were published than shortly after. The timing could have been much, much worse.

shaldna · Apr 10, 2011

How crappy. I'm so sorry for you.

But at the same time, I would echo what the others said, particularly Momento Mori, to check whether the publisher has just folded, or whether it's gone bust - in which case there may well be debts and in that case you may not be able to just have your rights reverted back quite as easily.

It's a horrible situation, and I hope you get it resolved soon,

Sargentodiaz · Apr 10, 2011

The novel contracted for and the sequel that wasn't, deals with a modern day Cherokee serving in the US Army. It relates herbal medicine, Indian healing techniques and the nature side of the Sonora Desert. The sequel is a story of the MC and his new-found love [a Cherokee medicine woman] and how they seek and confront those who killed his family.

The trilogy I was shopping with them is about how the Franciscans dealt with California Indians during the founding of the missions in both Californias.

I suspect the editor won't easily give up trying to find a home for them as he's an American Indian involved in his tribal culture.

http://lvcabbie.blogspot.com

Publisher down the tubes

Sargentodiaz

MacAllister

'Twas but a dream of thee

Sargentodiaz

Cyia

Rewriting My Destiny

Momento Mori

Tired and Disillusioned

sheilas_world

digging in my word garden

Hallen

Mostly annoying

Phaeal

Whatever I did, I didn't do it.

lastlittlebird

avem narrans

kaitie

With great power comes

Catadmin

An Author in Search of a Plot

Purple Rose

practical experience, FTW

DrZoidberg

aka TomOfSweden

Alessandra Kelley

Sophipygian

Nick Blaze

Jun-Ikkyu

Anne Lyle

Fantastic historian

happywritermom

shaldna

The cake is a lie. But still cake.

Sargentodiaz