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Nachtwandler
Joined: 17 Mar 2014
Posts: 569
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 Posted: Fri Mar 11, 2022 5:34 am
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Something is wrong here. Wasn't ARMS got bankrupt in 2020? Has it re-emerged now?
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Psajdak
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Posted: Fri Mar 11, 2022 8:05 am
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When you think about it, it's kinda incredible that this series is still getting anime to this day.
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Chiyosuke
Joined: 06 Oct 2003
Posts: 395
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Posted: Fri Mar 11, 2022 8:43 am
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Wait... I thought Arms went to the abyss. Are they independent of Pierrot and St. Signpost now?
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GhostD
Joined: 07 May 2016
Posts: 1042
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Posted: Fri Mar 11, 2022 9:32 am
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| Psajdak wrote: | | When you think about it, it's kinda incredible that this series is still getting anime to this day. |
Indeed but Shin is a proper sequel to the original with the manga still ongoing IIRC. If anything Im surprised this only gets 3 episodes.
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Bvick00
Joined: 17 Jan 2022
Posts: 60
Location: Goa, India
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Posted: Fri Mar 11, 2022 9:52 am
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3 eps only? The same length as the previous OVA series - Disappointing  . But the thing that has piqued my interest is that Arms is animating it! Strange considering they went bankrupt in 2020 and nobody has heard news about their supposed revival. Maybe this trailer is their way of saying they are back in action!
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DRosencraft
Joined: 27 Apr 2010
Posts: 672
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Posted: Fri Mar 11, 2022 10:28 am
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| Nachtwandler wrote: | | Something is wrong here. Wasn't ARMS got bankrupt in 2020? Has it re-emerged now? |
Don't know their full story, but typically Ch 11 Bankruptcy is merely a salve to keep creditors at bay while you renegotiate debt and try to accumulate capital to pay off said debt. Company's don't normally go away in Ch 11 unless their efforts fail, in which case they then have to sell their assets to cover their debts, or sell the company itself, and typically the new owner of the company would have to assume the debt (would consider as much as part of the purchase price). Some creditors will be allowed to target the assets of the former owners and execs, thus failing to renegotiate or sell is not a "free pass" on the debt that forced the company into bankruptcy. Under Ch 11 they're still an operating business, meaning they also still can incur expenses and liabilities to pay off, such as employees (though they will likely have laid off most). In this case that may explain in part the episode count - a smaller project to generate more cash short term and hopefully more work long term.
So, technically speaking, as a bankrupt company they would and should still be trying to get work. It would help them emerge from bankruptcy, and worse case it would make them a more attractive buyout target for whatever value they have or are able to build up.
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Rob19ny
Joined: 13 Jun 2020
Posts: 1976
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Posted: Fri Mar 11, 2022 10:44 am
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Konomi Suzuki just don't miss. Of course Arms is back. Shin is a call to arms.
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Netero
Joined: 10 Jun 2018
Posts: 172
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Posted: Fri Mar 11, 2022 11:10 am
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| DRosencraft wrote: | | Don't know their full story, but typically Ch 11 Bankruptcy is merely a salve to keep creditors at bay while you renegotiate debt and try to accumulate capital to pay off said debt. |
ARMS is/was a Japanese company, not American. Still, there's a thing called the Civil Rehabilitation Law in Japan which is similar to Chapter 11 in that it lets a bankrupt company have some time to try to sort itself out before it gets liquidated.
That said, Wikipedia notes that ARMS shut down on August 4 2020. Strange - not that I'm in any way complaining about some more Ikki Tousen, though!
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DRosencraft
Joined: 27 Apr 2010
Posts: 672
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Posted: Fri Mar 11, 2022 3:25 pm
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| Netero wrote: |
| DRosencraft wrote: | | Don't know their full story, but typically Ch 11 Bankruptcy is merely a salve to keep creditors at bay while you renegotiate debt and try to accumulate capital to pay off said debt. |
ARMS is/was a Japanese company, not American. Still, there's a thing called the Civil Rehabilitation Law in Japan which is similar to Chapter 11 in that it lets a bankrupt company have some time to try to sort itself out before it gets liquidated.
That said, Wikipedia notes that ARMS shut down on August 4 2020. Strange - not that I'm in any way complaining about some more Ikki Tousen, though! |
Sorry, I used Ch 11 as a broad example as most developed/WTO nations use a very similar version of the US bankruptcy law, particularly Ch 11. I wouldn't fully trust the Wiki, as I don't know who updated the information. In my experience people tend to lump all forms of bankruptcy together as just "bankruptcy" and assume that shutdown is automatic, which is not the case. In this case we can either assume the author of the article misidentified the studio involved, or the Wiki mistakenly identified the bankruptcy filing date (or I've even seen office closure dates misidentified in some bankruptcy cases).
Bankruptcy usually sucks for everyone involved, so hopefully this is one case that resolved well. And as said, nothing wrong with some more Ikki Tousen.
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Casval Rem Deikun
Joined: 24 Feb 2021
Posts: 270
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Posted: Fri Mar 11, 2022 5:29 pm
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Such a nice surprise. Really wish someone would take the manga rights away from Tokyopop.
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Alan45
 Village Elder
Joined: 25 Aug 2010
Posts: 10029
Location: Virginia
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Posted: Fri Mar 11, 2022 8:43 pm
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There is an alternative to something akin to a Chapter 11 Bankruptcy. Usually in bankruptcy all assets of a company are sold. If the name Arms still has some value it is possible someone simply bought the name and any remaining assets. Either way, you have an old studio name wrapped around a new company. The creative staff of the old company would have been fired within weeks of filing for any sort of bankruptcy. If the new company was able to recruit the appropriate members of the old staff, the new show may have some of the "look" and quality of the old studio, most likely not though.
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DevilBrew
Joined: 25 Jul 2021
Posts: 131
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Posted: Fri Mar 11, 2022 9:02 pm
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Disappointed that it'll only be 3 episodes but its still something fun to look forward to.
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