Napster Files For Bankruptcy Under Chapter 11 Proceedings After Facing Extensive Copryight LiabilityIn an unprecedented move, Napster filed for Chapter 11 in United States Bankruptcy Court in Delaware. This move occurred after the inability to strike a deal with the recording industry and increasing legal bills have caused Napster’s resources to dwindle. This filing also occurs at a time where Bertelsmann will secure the company for an inexpensive price.
The following questions have been addressed in this article:What is the history of this lawsuit?
What is Chapter 11 Bankruptcy in federal bankruptcy court?
Why did Napster file for bankruptcy?
What is Napster’s future?
What is the effect of the bankruptcy?