A Conversation With Becky Roof

In my earlier post titled “The Violation Of Think3” I wrote:

In my book this is nothing less than the violation of a company. A systematic and planned violation. If you sell the IP of a software company how is it supposed to survive? What is the point in appointing a Chief Restructuring Office for a software company which no longer has its IP and hence a revenue stream? What is left to restructure? The whole point of restructuring is to re-negotiate payments and contracts so that the company can continue with its operations and return to profitability. Not deprive it of its precious assets and leave it to rot. So after restructuring does Think3 plan on cooking up another CAD and PLM system from scratch? WTF?

Yesterday I had an email conversation with Becky Roof, the Chief Restructuring Officer of Think3 Inc., and asked her some pointed questions:

Deelip: As Chief Restructuring Officer what exactly are you restructuring? Is it the debt, expenditure, revenue?

Becky: As CRO, I am charged with protecting the global think3 estate in order to maximize value to creditors. I am assessing the best way to do that.

Deelip: How many employees does Think3 Inc. presently have?

Becky: think3 has contracted with AP Services to provide temporary employees, including me, as necessary.

Deelip: It is my understanding that Think3 Inc. sold its IP to ESW Capital and kept the rights to sell the product range in China? If that is correct can you explain the benefit to Think3 Inc. from doing that?

Becky: Your information is not accurate.  Please see the details in the CRO message posted on www.think3info.com.

Deelip: Now that Think3 Inc. does not have IP, what are its sources of revenue so that it can remain a viable company?

Becky: I am currently working through the best way to develop and market the China IP rights to provide a steady revenue stream. I am also investigating other global assets that think3 may own.

Deelip: How would you describe your negotiations with Dr. Andrea Ferri, the court appointed trustee of Think3 Italy?

Becky: I have met with Dr. Ferri and we have discussed ways to cooperate. To date, he has not provided me with certain information necessary to comply with US bankruptcy reporting requirements. As you may be aware, unlike Italy, bankruptcy in the United States is a very transparent matter to all constituencies, including creditors. I am hopeful that Dr. Ferri and I can continue to have productive discussions.

Today one of my readers left a comment saying that think3.com, the web site that Dr. Ferri took away from Versata, has started pointing to think3info.com, the web site that Becky Roof is running.

In all of this confusion I find some things quite interesting. Versata claims that Dr. Ferri doesn’t care about Think3 customers. All that he wants to do is see that the creditor’s get their money back. Becky belongs to AlixPartners, a company that specializes in bankruptcy reorganization, has herself admitted that she is “charged with the protection of the global Think3 estate in order to maximize the value to creditors“. Dr. Ferri claims that Versata has plundered Think3 and is trying to squeeze every bit of support revenue from Think3 customers.

Well, if there is some truth in what these people are saying then who the hell is actually looking out for the interests of Think3 customers?

  • 1234

    it´s getting confusing

    Cant follow anymore this situation :D

  • 1234

    seems like  Becky took control of this homepage.

    As I said, confusing. Does think3 italia belong completely to think3 Inc?

  • Kiran

    Versata’s true strength is their lawers… they know all the loopholes in the system…

  • token

    http://www.think3.it turns to http://www.think3.eu/en.  who know the real relationship between think3 Italy and think3 US?

  • Gtim

    here is the new think3 web site.
    http://www.think3.eu

    May be Becky is liked to Versata? the game is over??

  • Jhon

    I’m  sure that Think3.inc have not employes since 4 or 5 year …. at least

  • Nainar

    This is taking a turn of US Law Vs Italian ( Euroean Law ). The bankruptcy proceedings in the US is transparent but they dont look at why the company went into bankruptcy in the first place. If there is a govt appointed trustee they can look into fraudulent transfer of assets. And this is precisely the reasone Think3 Inc has not appointed a trustee, but a Chief Restructuring Officer. . Italian law looks into that as well and takes corrective action if there were decisions that went into and there Think3 Italy has a Trustee who has taken action to revoke the fraudulent transfer. I dont think Ms.Becky Roof would even want to get into the facts of why Think3 Inc went into bankruptcy, atleast from the way they are talking. There is nothing to restructure, no assets. I dont know what she is trying to do, except covering up the fraud.

  • 1234

    Again my questions, I´m sorry, perhaps I didn´t get it right. Does someone know – Whats the real realtionship between think3 Inc and think3 Italy? Is think3 Italy a part of think3 Inc? Or the other way around?

  • 4321

    think3 inc owns think3 italy since Joe Costello

  • John

    There is some customer who received a new release 2011.4 or 2011.5 promised from Austin Scee?

  • Toto

    How could we call
    this a version (2011.4 : 2011.5 of Versata !) These gentlemen have simply
    deleted Thinkteam from Thinkdesign!

    I am wondering if
    they know that it is also a product integrated with
    Thinkdesign!

    I think now is the
    time to take CAD experts in law courts to see what Versata is capable of and
    consider it in all procedures as this is very disappointing ! Doesn’t Miss Roof
    want to protect Think’s property ? It would be good to also focus on the
    technical aspects !!

    Versata plans to
    release a version with Thinkteam this summer ! Bullsh**, never seen before ! If
    that’s what they call stabilizing the code, then well done
    !

    Toto

  • Arthur

    Let’s analyse this. Think3 has been mis-managed for quite some time by the Italian office. The situation came to ahead when they couldn’t pay their staff and taxes. The organisation was rotten to the core, with incompetence and financial irregularity, well before Versata stepped in. Versata only realised the number of dead bodies buried, after buying the company and reeled from it. Versata are a very focused company with hugh capital and technical resources, which can really turn things around. You cannot expect Versata to do in 1 year which think3 has been unable to do in a decade. The only people that are upset by this are the leeches that sucked think3 dry in the first place. Think3 is a great product and hope that it lives on to see great times.

  • Nainar

    Dude,get the facts right. Versata did not buy or acquire Think3, but only the IP of the product. It is ESW Capital that bought Think3 and sold the IP to one of their crossholding companies, making Think3 go bankrupt. Versata is the licensee of the IP and not the owner of Think3.

  • Nainar

    BTW, for all the transparency being talked about by Ms.Becky Roof, my emails to her about the Indian subsidiary and its liabilities to the Indian employees evoked no response from her.

  • Rox

    If Versata was really interested to make think3 product continue to live, they would have keep the core team of the product. there are many companies bought by others in the world. There are often fired people , but never all the staff. It’s clear that the only goal of Versata/ESW is to make money without effort. Obviously, all companies want to make money, but not this way

    American people do not like lies : Versata do not follow this rule !

  • Toto & Co

    To respond briefly to
    your analysis… in the first place, are you a lawyer, developer, user ? Based on
    your response we will understand better your
    analysis.

    Being a user for over
    a decade, I am not sure that the problems only come from the Italian part of the
    company. Do you remember a period during which Think3 was faced with certain
    problems highlighted in this blog whilst under the Management of Joe Costello
    ?

     

    You only talk about
    the financial aspect when you say that Versata cannot do in one year what Think3
    hasn’t done over a decade. Like you say, Think3 is already a good product and
    what I describe as a malfunction (suppression of ThinkTeam) has been done by
    Versata. It’s clear that within a short amount of time, we cannot expect
    miracles but this type of problem shows that things are not 100% under control
    and the increase in price with maintenance services lacking experience only
    create doubts amongst customers. They could have taken things in a more coherent
    manner to follow up on the code development, but as of today this is not
    concluding…

     

    The people who have
    developed the product are not the financial managers and Versata preferred
    getting rid of the people who made this great product. Unfortunately, we are not
    talking about a simple database but a complex software with a history behind. It
    would also be good to differentiate the technical and financial aspects from
    your analysis.

     

    Furthermore, one can
    only be judged on what is produced. In the case of Versata, many managers have
    been presented and many promises have been brought forward to the customers. So
    tell me, what has been done since Versata took over
    ???

     

  • http://www.mactonweb.com seo bangalore

    CAD software has really a good Boom in the world, as most of the design part is done using CAD software.

  • http://www.facebook.com/cacciatorino Alessandro Marchetti

    New communication from Italian trustee A.Ferri:

    Dear Sir/Madam,As the trustee of Think3 inc I would like to update you on the following:

    The
    Court of Bologna with the decree of 28.06.2011 published on 30.06.2011,
    which is attached to this communication for your information (with
    certified translation), dismissed the appeal filed by Versata FZ LLC
    art. 36 l.f,. giving a final ruling that the Technology License
    Agreement that was entered into between think3 Inc. and Versata FZ on
    07.10.2010 was terminated in accordance with and for the purposes of
    Art. 72 L.F.

    Based
    on a lot of evidence and demonstrating absolute impartiality through
    the Court of Bologna, the Italian judge decided in favour of the fact
    that the ownership of the IP is of the Italian Trustee of the bankruptcy
    of think3 inc, rejecting the arguments proposed by Versata. In
    particular, by applying the principle of general universality of
    bankruptcy proceedings, the Court upheld that the Bankruptcy Trustee has
    legitimate power to dissolve the existing contracts regardless of the
    contract law indicated by the parties. Versata also recognized the
    Italian jurisdiction by making the appeal against the initial ruling of
    the Court of Bologna and therefore must respect the effects of the
    decision of the Court of Bologna.

    We
    also bring to your attention that fact that Versata is operating in bad
    faith in using the think3 trademark in connection with the Versata
    brand, creating the appearance of being the owner and the heir of the
    think3 company thus causing confusion and discrediting the commercial
    efforts of think3. There are numerous customers who have testified the
    attempts by Versata to acquire the think3 network of customers and their
    contracts through deception on the subject of the legitimate holder of
    industrial property rights.

    Another
    very serious issue that denotes the absolute inconsistency of the
    position of Versata occurred on June 28th, 2011 when Mr. Austin Scee,
    coincidentally the same day the Court of Bologna made it’s ruling on the
    IP, communicated to think3 customers that the Chief Restructuring
    Officer of think3 USA would have regained control of the website
    think3.com.  This is a totally illegitimate act that was promptly
    reported to the Italian judiciary.

    As
    specified by Mr. Scee the Chief Restructuring Officer of think3 in the
    U.S. stated that the License Agreement was still in force in favor of
    Versata, something that is totally unfounded. This statement has been
    completely and definitively proven not true by the decree of the Court
    of Bologna 28.06.2011 as mentioned above, which permanently denies the
    allegations of Versata.


    Another
    important clarification: Mr. Scee continues to try and convince
    everyone that the bankruptcy process handled by the Italian trustee is
    simply for a subsidiary of think3 Inc. that has no power. This again is
    not true because the bankrupt company in Italy is think3 inc and due to
    the fact that Italy was think3 Inc’s principle place of business the
    Trustee has the rights and the powers to manage all the assets that make
    up the company wherever they are. Given that the company is only one
    and it has only one set of assets these can’t be managed by two
    different procedures.  In the case of think3 inc the Italian procedure
    has started first and so the assets are under its control.  It is also
    true that the Italian trustee represents creditors from all over the
    world, not just from Italy.

    The
    transparency and fairness with which the Trustee and his team are
    working in the interests of customers, creditors and employees, whose
    professionalism and dedication has allowed the company to return to the
    market, is confirmed by the fact that recently a series of important
    contracts have been signed with multinational companies which have
    renewed their support and confidence in the Italian company.
    Best Regards
    Dott. Andrea Ferri

  • Jhon

    Official Communication Dr. Ferri - Dismissed the appeal filed by Versata FZ LLC Dear Sir/Madam,As the trustee of Think3 inc I would like to update you on the following: The Court of Bologna with the decree of 28.06.2011 published on 30.06.2011, which is attached to this communication for your information (with certified translation), dismissed the appeal filed by Versata FZ LLC art. 36 l.f,. giving a final ruling that the Technology License  Agreement that was entered into between think3 Inc. and Versata FZ on 07.10.2010 was terminated in accordance with and for the purposes of Art. 72 L.F. Based on a lot of evidence and demonstrating absolute impartiality through the Court of Bologna, the Italian judge decided in favour of the fact that the ownership of the IP is of the Italian Trustee of the bankruptcy of think3 inc, rejecting the arguments proposed by Versata. In particular, by applying the principle of general universality of bankruptcy proceedings, the Court upheld that the Bankruptcy Trustee has legitimate power to dissolve the existing contracts regardless of the contract law indicated by the parties. Versata also recognized the Italian jurisdiction by making the appeal against the initial ruling of the Court of Bologna and therefore must respect the effects of the decision of the Court of Bologna. We also bring to your attention that fact that Versata is operating in bad faith in using the think3 trademark in connection with the Versata brand, creating the appearance of being the owner and the heir of the think3 company thus causing confusion and discrediting the commercial efforts of think3. There are numerous customers who have testified the attempts by Versata to acquire the think3 network of customers and their contracts through deception on the subject of the legitimate holder of industrial property rights. Another very serious issue that denotes the absolute inconsistency of the position of Versata occurred on June 28th, 2011 when Mr. Austin Scee, coincidentally the same day the Court of Bologna made it’s ruling on the IP, communicated to think3 customers that the Chief Restructuring Officer of think3 USA would have regained control of the website think3.com.  This is a totally illegitimate act that was promptly reported to the Italian judiciary. As specified by Mr. Scee the Chief Restructuring Officer of think3 in the U.S. stated that the License Agreement was still in force in favor of Versata, something that is totally unfounded. This statement has been completely and definitively proven not true by the decree of the Court of Bologna 28.06.2011 as mentioned above, which permanently denies the allegations of Versata. Another important clarification: Mr. Scee continues to try and convince everyone that the bankruptcy process handled by the Italian trustee is simply for a subsidiary of think3 Inc. that has no power. This again is not true because the bankrupt company in Italy is think3 inc and due to the fact that Italy was think3 Inc’s principle place of business the Trustee has the rights and the powers to manage all the assets that make up the company wherever they are. Given that the company is only one and it has only one set of assets these can’t be managed by two different procedures.  In the case of think3 inc the Italian procedure has started first and so the assets are under its control.  It is also true that the Italian trustee represents creditors from all over the world, not just from Italy.The transparency and fairness with which the Trustee and his team are working in the interests of customers, creditors and employees, whose professionalism and dedication has allowed the company to return to the market, is confirmed by the fact that recently a series of important contracts have been signed with multinational companies which have renewed their support and confidence in the Italian company.Best RegardsDott. Andrea FerriTo download and read the final ruling of the Court of Bologna click on this link.

  • Arthur

    It seems that the Italian authorities are at best naive or stupid ! Think3 is a US entity, and is governed by US jurisdiction. They have no power to control a US entity. Courts of Bologna are talking humbug. No wonder Italian politics is a joke ! They don’t have an ounce of reality.

    Think3 SRL is an italian sales office, owned by think3 inc. Think3 SRL is an italian company limited in liability by shares, which means think3 Inc can walkaway from it without any recourse.

    Why are people so deluded ? The ruling by the Bologna Courts is worthless.

  • Jhon

    Arthur …. seems you are a little bit unexperted in CAS/CAD domain as like as versata managers.
    I will just underline that Think3 in less that 1 year (2000/2001) make some from the tecnical point of view, like GSM ect. that more claimed companies like dassault, siemes,PTC, autodesk, are not able to do again after 12 years.

    No strategy, No Party ….. after almost 1 year. Good luck if you believe in Versata strategy!

  • Nainar

    Which part of the notice talks about Think3 srl?Think3 Italy is same as think3 Inc and not a subsidiary like think3 India..Which is why the judgement will have to be honored in the US Courts as well.The llc scheme is there to enable global trade.It is time such piracy of intelectual property developed worldwide through the subsidiary business be controlled.It is going to be a battle and end game will be played when actually the customers make their choice.

  • Nainar

    It is not just firing.Despite not being paid for months people across the globe worked hard to turn the product around.And then ESW Capital takes over and leaves entire Think3 in limbo with an arrogant Versata executive saying “we will not pay”,while they acquired the IP.For sure Versata expected some back fire and prepared for that also but the facts brought out through online community has dented their plans.

  • Paul Salvador

    …I have to say it… Scum Bag Lawyers!

  • Nainar

    http://www.think3.eu/uploads/hu/jJ/hujJPdpsJVkwR-ChB3wcFQ/Provvedimento-Velotti-28_06_2011-English.pdf

    For your reading pleasure mate, if you happen to be a lawyer! The judge does cite applicable international laws. By the way, if Versata did believe in Bologna courts not having  juristiction in the US, why did they represent themselves in Bologna Courts? US may have some laws, but so does other countries and there are treaties between them which have to be honoured. Let us see how far this plays out.

  • John

    Deelip … After the new Judge documentation, will be interesting hear the position from the Think3 CFO, because I think the position is very clear.

  • Jhon

    FROM BOLOGNA

    ThinkDesign Suite 2011 – official beta release by think3 releasedThink3 announces the release of the new ThinkDesign 2011.1 beta versionBOLOGNA, Italy, July 11, 2011 – Think3 announces the release of the new ThinkDesign 2011.1 beta version of the highly appreciated CAD suite developed by the well-known Italian software house. The development has focused on the various application areas of the solution, with the result of offering customers operating in the field of styling, engineering and tooling, a new version full of features and improvements. Customers can now download the solution by accessing the Customer Care site, which makes available, beside the efficient maintenance services, the products updates. The download area is reachable on the new http://www.think3.eu website through Login Customer Care.
    Please see below the key areas covered in this version.

    Sketch
    The sketch environment, heart of solid modeling, has been improved thanks to the enhancement of the graphic representation mode of constraints applied to entities. Now symbols are used in place of texts enabling a clear and prompt reading. Moreover it is possible to create arcs in the 3D environment by using the traditional commands Three-Point Circle, Circle given Center, Circle given Radius, Fillet.

    Solid Modeling
    Solid modeling has been enhanced with the introduction of the new Rib command enabling the creation of the typical reinforcement structures applied to components. Still in the field of solid modeling, improvements have been made to the Split command and to the Fillet Reconstruction in the Move Faces and Offset Faces tools of Interactive Solid Modeling (ISM). To complete the feature enrichment a new analysis command, External Relations Info, has been added. It will help engineers to operate with greater control over components.

    Assembly
    In the assembly environment it is now possible to create Assembly Features. They are very useful when a single component is applied several times, but specific features must be added only to some of the instances. These features will be created on the selected instances in the assembly, without any change to the original external component.

    Subdivision Surfaces
    In this version, a special importance is attached to the new Subdivision commands and features. Subdivision surfaces are a new powerful modeling tool available for the control of solids. Similarly to NURBS that enable the modification of surfaces by means of control points, subdivision surfaces enable the modification of solids, by using points.
    What is really outstanding is that when the points are moved, the solid surfaces will be kept connected and the faces will retain their mutual tangency and curvature continuity conditions, since the command works on the whole shape and not on the single surfaces. Industrial designers will have one more tool to meet their needs.

    Sheet Metal
    In the sheet metal context, the commands Step Bend, Flange, Sheet Metal Wizard have been improved in usability and in the supported case studies, making the approach to this scope even more efficient.

    Curves and surfaces
    The new Approximation by Lines-Arcs command enables the conversion of a generic planar curve into a sequence of line segments and arcs. This is very useful to define a tool path for NC machines. The new Geodesic Curve command enables the creation of a curve that lying a surface, by generating the shortest path between two points.
    Another interesting point is the new ReCapping command that enables the creation of a quality capping surface by using a mesh and some limiting curves as input data.

    >MoldDesign
    The new Region Analysis command enables the analysis of the visible faces of the mold part from multiple view directions. The faces are grouped by typology as visible, under draft, undercut and overlapped. By selecting the view direction, it is possible to define, using specific colors, the faces as the core, the cavity, and the sliders. It is also possible to create skins of the selected faces that can be used by the Region based option in the Split Mold command. The Separation Surfaces command enables the creation of the parting surface for the mold parts. Other enhancements are related to the commands Project management, Draft Analysis, Cooling and Standard Parts.

    New Compensator concept
    Currently designers can predict the spring back deformation by using FEM (Finite Element Analysis) tools. This method requires a considerable time and effort in integrating the FEM results into the modification of the tool design. This is why the FEM tools are not always used and a measurement process is applied instead. This version offers a new approach in the Compensator solution. A new set of features has been introduced, to obtain the Compensation or Adaptation on the basis of Measured Data (AMD/CMD).

    Adaptation on Measured data
    It is possible to apply a deformation in order to adapt the original surfaces of the model. This operation is accomplished by identifying the deformation from the physical model (obtained by a scanning process) as compared with the initial digital model. The deformation is then applied to the digital model to produce a digital model identical to the physical tool.

    Compensation on Measured data
    It is possible to compensate the part based on the measured data rather than on the FEM data. The reverse deformation data from the physical model are applied to the digital model employing an inverse law. The result is a digital model identical to the physical one.

    These new functionalities make it possible to maintain quality throughout the whole design process, considerably reducing time and cost. It becomes much easier producing complex components that maintain the original design intent, with the possibility to manage design changes in a very effective way. Moreover users working in tooling departments will find the other new commands Blank Holder Addendum, Offset Mesh, Alignment.

    PDF 2D
    Document distribution will be improved thanks to the new PDF save option for the 2D drawing format, available as print mode.

    Rendering and Material Management
    This version introduces new Rendering functionalities and remarkable enhancements in the material management. The material and color attributes are distinctly classified and can be rendered separately on the shaded entities. The process of applying the Rendering properties remains the same, but with enhanced and easy-to-use features.

    General
    Generally speaking, version 2011.1 offers the optimization of the model structure management, a better compatibility with AutoCAD 2010, 3-Axis Scaling, 3D-Clipping View inversion, more accurate mesh generation, enhancement to the Capping and to the Global Modeling commands, and a lot of other improvements that will be appreciated by all users of ThinkDesign Suite that proves to be the best solution for design activities.http://www.think3.eu/en/news–events/news/thinkdesign-suite-2011—official-beta-release-by-think3-releasedI Think this version will work completely :)




Archives

© 2014 Deelip.com. All Rights Reserved. Deelip.com is a registered trademark of Deelip Menezes. Log in - Designed by Gabfire Themes