A public company
it had the following shareholder structure:
S1: 55,000 stock (company manager)
S2: 50,000 stock
S3: 50,000 stock
S4: 50,000 stock
S5: 50,000 stock
S6: 50, 000 stock
S7~S11: 13,000 each (65,000 jointly)
S1 files for bankruptcy, and the whole public company is liquidated even if S1 owned only 14.9% of the company
Is this a bug?
Wasn't the AS supposed to take over the company and become the holder of 55,000 shares initially held by S1 that bankrupted?
No, it is not a bug!
In case AS becomes position "S1" the airline will be liquidated.
AS will never manage an airline (think about the traffic-rights too, AS ist based in Switzerland).
In case AS becomes a position between"S2" and "S999" AS will offer the shares on the stock-market.
No this is not correct, there were cases when AS “managed” various airlines, and this airline in particular. Also this particular airline, when S1 was acquiring stock, went through about 15 minutes of AS management.
The airlines only liquidate if AS gets to own more than 50% of shares.
Yep, Rainer is correct. Has been a topic before.
EDIT: Don't know why it might have happened before in that case, but it's supposed to work like that.
@Spezialist - again that is not correct, please see
http://idlewild.airlinesim.aero/app/info/airports/2988 look at 05.04.2015 AS Holding took over, then it was taken back by the manager.
AS will never manage an airline (think about the traffic-rights too, AS ist based in Switzerland).
AS will manage an airline, and the airline will get Swiss traffic rights for the time it is managed by AS Holding.
It even did manage this particular airline in question for a brief moment on 05 April, that's why I do not understand why the airline was liquidated now.
AS Holding regularly takes over the companies (they are not liquidated, until AS Holding owns 50.something % of stock)
http://idlewild.airlinesim.aero/app/info/enterprises/4
http://tempelhof.airlinesim.aero/app/info/enterprises/3
http://fornebu.airlinesim.aero/app/info/enterprises/3
http://aspern.airlinesim.aero/app/info/enterprises/3 - see here this case: AS Holding now has the largest stake in Northshuttle Airways and thereby took over control of the company. -- this airline is still operational, with new manager: http://aspern.airlinesim.aero/app/info/enterprises/3151
http://gatow.airlinesim.aero/app/info/enterprises/3 - see here this case: AS Holding now has the largest stake in Liquidation #25837 (Gaelic Swiss Airways) and thereby took over control of the company. -- this case AS Holding became the largest shareholder so it liquidated
http://stapleton.airlinesim.aero/app/info/enterprises/3- see here this case: AS Holding now has the largest stake in Montecristo Airways and thereby took over control of the company. -- this airline is still operational, with new manager: http://stapleton.airlinesim.aero/app/info/enterprises/55858
or this one, from yesterday:
http://nicosia.airlinesim.aero/app/info/enterprises/2- see here: AS Holding now has the largest stake in Arabic South East and thereby took over control of the company. -- this airline is also alive and well, now under new management: http://nicosia.airlinesim.aero/app/info/enterprises/68011
and here we can also see both types of AS ownership:
http://meigs.airlinesim.aero/app/info/enterprises/3-- e.g. on 2012-06-08 AS Holdings took over the liquidation, meaning it liquidated because AS Holding got to own more than 50% of shares. In other cases, the AS Holding became the manager but the company did not liquidate, because AS Holding while argest shareholder was a minority total shareholder.
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For this reason, this particular case this post is about, is very strange, because AS Holding should have taken over the same way it did on 2015-05-04 with that airline, and not liquidate, because why largest shareholder it becomes manager, but a total minority shareholder (under 15%), and therefore should not cause liquidation!
It seems to me that in the instance that AS becomes majority shareholder it should not immediately liquidate the company. It should offer the shares in the market to the highest bidder and a notice sent to all players that in 3 (or 7, or whatever) days the company will liquidate if no new majority shareholder comes forth. This would allow the minority shareholders a chance to not lose their entire investment and an opportunity for a "white knight" to step forth.
I also think that it would be a cool feature if the companies stock price gradually fell as well. Even to the point a new startup could eventually become the majority shareholder. Obviously this would only happen in countries without major competitors because at a minimum you'd want to take over the company and gradually take over their markets even if your ultimate goal was dissolution of the company.
This would give new players an opportunity to start in small and medium sized markets with the potential to take over large airlines and start bigger than usual...at the cost of not controlling all the shares.
By the way ... AS Holding is in no way intended to manage an airline. So these airlines should be eliminated too. I'm pretty sure this isn't working at the moment, but I sometimes do this manually.
It should offer the shares in the market to the highest bidder and a notice sent to all players that in 3 (or 7, or whatever) days the company will liquidate if no new majority shareholder comes forth
Actually, as soon as AS becomes the owner of even 1 share, the message is already sent out that new stock is offered for sale. Because as soon as AS becomes the shareholder, it puts up the stock for sale, meaning a message is generated sent to all current shareholders.
By the way ... AS Holding is in no way intended to manage an airline. So these airlines should be eliminated too. I'm pretty sure this isn't working at the moment, but I sometimes do this manually.
Well, what time AS holding could "manage" the company is up for discussion... it could be a day or a week to give time other shareholders to react and buy shares, the point is that in this case a liquidation of a shareholder with less than 15% shares, who happened to be the manager, forced the liquidation of the whole company.
Yep shure, but if the decission maker is willing to close the enterprise ... ;)
AS will liquidate company even when it has less than 50% of shares. AS holding will not simply manage any airline. For example: my former competitor, FENCC01, has only 40% shares of Garuda Connect. When his Indonesian Skylines was liquidated, Garuda Connect was also liquidated with it. I didn't even have a chance to take the company.
AS will liquidate company even when it has less than 50% of shares. AS holding will not simply manage any airline.
Yes it will, see above both my post and sk's. Though they manually delete companies that AS Holding get to manage...
But somehow the circumstances must differ in some tiny detail between this case in particular and other cases, when AS got to take management of the enterprise.
I will probably have to set up some subsidiaries and IPO them in two weeks and then do some testing to see what are the exact conditions when it gets liquidated and when not.
Yes it will, see above both my post and sk's. Though they manually delete companies that AS Holding get to manage...
But somehow the circumstances must differ in some tiny detail between this case in particular and other cases, when AS got to take management of the enterprise.
I will probably have to set up some subsidiaries and IPO them in two weeks and then do some testing to see what are the exact conditions when it gets liquidated and when not.
Maybe those companies were not suddenly taken over by AS holding. It can be the major shareholder didn't bankrupt, but other shareholders were liquidated. and those shares adding up makes AS holding becoming the largest shareholder.
Maybe those companies were not suddenly taken over by AS holding. It can be the major shareholder didn't bankrupt, but other shareholders were liquidated. and those shares adding up makes AS holding becoming the largest shareholder.
That's possible ... that's why I will test to see what exactly happened and will run couple of different models. But I will not find sooner than in two weeks
Simply put, AS should not liquidate a company until it has had controlling shares for at least a week. AS doesn't need to manage it...just let it go on autopilot and AS should have traffic rights so the company itself doesn't bankrupt itself in the meantime. But shares should be offered on the market and a chance given for others to buy the company. After all, in the real world a subsidiary company woudn't just liquidate if the parent went belly up...it would be sold off in a bankruptcy court if nothing else. AS should simulate this by giving us players a chance to take over these companies.
Obviously, if you are a US company and the failing company is Algerian or something it doesn't matter. But if it is another US (or unrestricted market) then you'd want to buy it if for no other reason than to keep your competitors from getting their grubby hands on it (and the markets the company serves)
And even in the Algerian market case a new player could potentially take over a much bigger airline this way and allow them a "quickstart" to a game. Traffic rights prevents them from taking over the world but it would bring in a new interesting way to start the game.
While I don't think the whole public company should taken down when its parent goes bankrupt, it could be due to S1 is deliberately liquidating/resetting its airline that the system wiped out the parent airline and its entire subsidiary in which it has majority shares. In this case, even AS holding doesn't have a chance to grab the shares. So AS holding doesn't liquidate this one I guess, the player does.