What happens if Linden lab closes/shuts down

[Kimmi Zehetbauer 1,309]

I think of SL is entertainment, like going to the movies --- it was fun while it was here.

If I see anything shutting down, it's a MMO a couple in our amateur radio group plays. It's a game about using "pets" to help you battle the mobs while leveling. The name of it is the French word for "recall."

Edited July 26, 2019 by Kimmi Zehetbauer
Typo and old age.

[Selene Gregoire 10,353]

11 minutes ago, Kimmi Zehetbauer said:

French word for "recall."

Don't make me rely on Google translate... the suspense is killing me!

Edited July 26, 2019 by Selene Gregoire
Google not Goggle... dammit

[Kimmi Zehetbauer 1,309]

Called "Rappelz."

[Selene Gregoire 10,353]

6 hours ago, Kimmi Zehetbauer said:

Called "Rappelz."

I'm sorry. I should have said please. I apologize for my momentary lapse of good manners.

[Kimmi Zehetbauer 1,309]

3 hours ago, Selene Gregoire said:

I'm sorry. I should have said please. I apologize for my momentary lapse of good manners.

I always blame my man for that!

[CandyStarcore 2]

No refunds but the fairness provides to download anything from your inventory. So if a company and their services no longer exist all the things we collected since we joined - and paid for it - is ours. Just like a closedown sale. Abilities from contractors (seller) from a non-existent company can not be extended because as buyer you have been granted the permission to use it at your own discretion. In my opinion i dont see a high 'risk' that much from the created objects will be used later in other systems anymore. The hype and the big interest in second life and similar open sim projects is gone, because the big companies poached them their clients away.

[CandyStarcore 2]

On 7/18/2019 at 9:04 AM, Matty Luminos said:

What's more likely is that Linden Lab would close down due to debt, in which case any US$ balance held by user accounts would go towards paying off their debts, or be simply written off.

To be honest, clients are not responsible for the financial activism of a company where they use - and probably also pay - their service. If they do so as you quoted, it would be a immoral transaction.

Edited July 27, 2019 by CandyStarcore

[Selene Gregoire 10,353]

18 minutes ago, CandyStarcore said:

To be honest, clients are not responsible for the financial activism of a company where they use - and probably also pay - their service. If they do so as you quoted, it would be a immoral transaction.

No, it would be because it is the law in the US.

Chapter 7 Bankruptcies

Under Chapter 7 bankruptcy law, the money gained from selling the company’s assets goes first to back taxes, secured creditors and employees. That usually depletes available assets. If any assets are left over after the company goes out of business, they are divided among unsecured creditors, including customers who didn’t receive services or goods already paid for.

Customers who paid with credit cards may be able to dispute the charge with their credit card company to get their money back. Others who paid by check or cash, will need to file a claim with the bankruptcy court administering the process. A creditor must file a proof of claim within 90 days after the first date set for the meeting of creditors.

Chapter 11 Bankruptcies

A Chapter 11 bankruptcy allows the company to continue operations while it reorganizes for future stability. If a company files for Chapter 11 protection, they will often still redeem unused gift cards, fulfill services and deliver on goods. Unfortunately, some Chapter 11 bankruptcies are unsuccessful and convert into Chapter 7, which leads to closure and complete liquidation. At that point, the chances for the consumer to receive any compensation are greatly diminished.

 

Visit https://www.uscourts.gov/ for more information.

Edited July 27, 2019 by Selene Gregoire

[CandyStarcore 2]

But `us` is not the rest of the planet. More a `yours`then a `us`. lol But immoral is it anyway. This is why such wildwest manners cropped the reputation. Always with the head thru the wall.... Well, its a thing of local lawing how a liquidation has to go but how would you make clients from a.e. China India South Africa Russia or other countries liable for their debts? Thats foolish

\edit

but thank you to let me know they think about to close it. I dont waste anymore here. end of discussion.

Edited July 27, 2019 by CandyStarcore

[Selene Gregoire 10,353]

21 minutes ago, CandyStarcore said:

But `us` is not the rest of the planet. More a `yours`then a `us`. lol But immoral is it anyway. This is why such wildwest manners cropped the reputation. Always with the head thru the wall.... Well, its a thing of local lawing how a liquidation has to go but how would you make clients from a.e. China India South Africa Russia or other countries liable for their debts? Thats foolish

\edit

but thank you to let me know they think about to close it. I dont waste anymore here. end of discussion.

What does the debts of other countries have to do with Linden Lab going out of business in the US? Are you trying to say Linden Lab owes companies in countries other than the US money? 

Whatever it is you are trying to say, the bottom line is, if Linden Lab dba (doing business as) Second Life goes out of business, all residents, regardless of where they reside on the planet, will have to wait for any refunds they may get until all other debts owed by LL have been paid off. There is no guarantee any customers will get a refund of any kind because the assets are used to pay off the largest debts first, by US law (remember LL is domiciled in the US). IF anything is left over after that, it is distributed according to guidelines already in place. 

[Shaun1970 0]

I think way too many people have forgotten that Second Life is not forever and have built their entire life around it.  Everything that you've purchased could be taken away.  It's all temporary and Linden is well within their right to shut it all down and not refund you a penny.  You should expect that.   This is the case with all games as service and Second Life is no different.  No one should be mad at Linden if (more like when) this one day happens.  You agreed to it when you chose to play it.

Edited January 16, 2020 by Shaun1970

[Blaise Glendevon 988]

On 7/17/2019 at 1:29 AM, Arduenn Schwartzman said:

Now since this issue has been definitively resolved, allow me to raise another hypothetical.

What would you do, if Linden Lab gave you L$ 1,000,000?

I would buy all the heads. ALL OF THEM.

And wear one because I don't have time to make all those custom shapes. 

[Fauve Aeon 3,045]

On 7/17/2019 at 1:29 AM, Arduenn Schwartzman said:

Now since this issue has been definitively resolved, allow me to raise another hypothetical.

What would you do, if Linden Lab gave you L$ 1,000,000?

Cash out and Vegas, Baby? Weekend trip, prolly. You didn’t say I had to spend in in SL...

[Evah Baxton 524]

On 7/27/2019 at 12:47 PM, CandyStarcore said:

No refunds but the fairness provides to download anything from your inventory. So if a company and their services no longer exist all the things we collected since we joined - and paid for it - is ours

In SL you aren't really buying a thing. You are buying a license to use it. The original creation still belongs to the creator (and most likely LL) unless they choose otherwise. The creator could still port their creation to other markets. Would you want to take that away from them?

[Solar Legion 3,950]

1. Kiss your inventory goodbye.
2. Kiss any money you've spent goodbye.
3. No way to contact your SL friends elsewhere? Kiss them goodbye too.

[ChinRey 6,577]

41 minutes ago, Solar Legion said:

No way to contact your SL friends elsewhere? Kiss them goodbye too.

How am I supposed to do that if I can't contact them anywhere???

[Alwin Alcott 11,850]

2 hours ago, ChinRey said:

How am I supposed to do that if I can't contact them anywhere???

start kissing next time you log in.. and keep doing it till the last day?

[BelindaN 14,661]

Maybe the Community Forums might be saved? 

Only a small part of SL but a big part of SL for the contributors here?

[Fauve Aeon 3,045]

2 minutes ago, BelindaN said:

Maybe the Community Forums might be saved? 

Only a small part of SL but a big part of SL for the contributors here?

The Community Forums are run with a 3rd party service, Invision. I’m assuming the enterprise plans are also time-based leases like the regular ones so I’d expect the forums to also go poof.

[Tolya Ugajin 1,518]

If LL shuts down, you lose the game.

[Ceka Cianci 8,037]

You mean you guys didn't get in on the Linden Lab 401k?

Not only do I get everything I spent back,but they match up to 6% of what I put in..

So when or if it shuts down..Drinks on me!! \o/

 

hehehe

 

 

[Tarina Sewell 2,011]

On 7/17/2019 at 3:28 AM, ThorinII said:

I think you would get nothing back. At all.

 

This is a valid reason for not extending my membership beyond a year.  ; )  I will have to look deeper into that. Although the 2 year extension is over.. I did not have the funds, what a horrid time to do this around Christmas....

[Tarina Sewell 2,011]

2 hours ago, Ceka Cianci said:

You mean you guys didn't get in on the Linden Lab 401k?

Not only do I get everything I spent back,but they match up to 6% of what I put in..

So when or if it shuts down..Drinks on me!! \o/

 

hehehe

 

 

 You always get in on the good stuff... ; P

[bigmoe Whitfield 1,249]

On 7/27/2019 at 1:47 PM, CandyStarcore said:

No refunds but the fairness provides to download anything from your inventory. So if a company and their services no longer exist all the things we collected since we joined - and paid for it - is ours. Just like a closedown sale. Abilities from contractors (seller) from a non-existent company can not be extended because as buyer you have been granted the permission to use it at your own discretion. In my opinion i dont see a high 'risk' that much from the created objects will be used later in other systems anymore. The hype and the big interest in second life and similar open sim projects is gone, because the big companies poached them their clients away.

This is not going to work out well for you if you do it, we are only licensing to use items from the content creators, even teh full perm ones,  you'll be in court for a long time trying to fight this "well it's mine" sch tick.

[Alwin Alcott 11,850]

12 hours ago, Tarina Sewell said:

This is a valid reason for not extending my membership beyond a year.  ; )  I will have to look deeper into that. Although the 2 year extension is over.. I did not have the funds, what a horrid time to do this around Christmas....

doesn't have to mean a lot of course.. but i get very suspicious when a company offers subscription renewal for a virtual product as old as SL  up to 3 yrs ..