Publisher may declare bankruptcy... Where do I stand as author?

[Author in trouble!]

I have a book published with a publisher who is rumored to be exeriencing financial difficulty and may be judged bankrupt. My contract says that if this occurs the agreement is terminated and all rights returned to author. But what happens to my book? Will it still be available? And also what about past and future earnings? Since this is only speculation at this point, I have not confronted the publisher but want to be prepared and know my rights first, by knowing what I can expect from a legal standpoint. I am in California, and publisher is in New York. I would appreciate any advice and even what areas of the law would cover this matter... Thanks!

[Edited by Author in trouble! on 11-27-2000 at 12:27 PM]

 

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