For previous posts regarding the Dorchester Boycott, click here (that is the original post, along with updated links to further posts).
As previously reported, an unofficial committee representing Dorchester Publishing’s unsecured creditors (including authors and their agents) was formed last August. Since then, the committee and its financial advisers have been monitoring the company’s operations, and have had access to Dorchester’s financial information and legal documents.
Today, the committee notified Dorchester of their decision to disband, because they have determined that Dorchester will be “unable to propose any meaningful repayment plan to unsecured creditors in the foreseeable future”. The committee states that this leaves Dorchester’s unsecured creditors (including authors and agents) free to take “any action or inaction they determine to be appropriate.”
Since the initial boycott call, myself and the other authors on this list, feeling we took the appropriate action (given that Dorchester was continuing to sell our work but was unable or unwilling to pay us for it), have kept quiet. A small handful of our peers disagreed with our actions, and took to their Blogs and online forums to decry the boycott. While we respect their varied reasons for doing so, it’s worth noting that most of them took issue with our stance that Dorchester was unable to repay their authors and other unsecured creditors. We will, of course, be curious to hear their thoughts now that the committee has confirmed what we’ve been saying all along…