Corbis-owned Sygma files for bankruptcy protection
French photo archive Sygma as filed for bankruptcy protection after a legal battle with an ex-photographer over lost images. A tribunal over the filing will be held on Tuesday in Paris. Corbis claims it is no longer able to fulfill Sygma’s financial obligations. Corbis spokesperson Stefan Biberfeld said that for a big part this was due to a judgment of the French court that forced the company to pay 1,5 million euros to a photographer for lost images. Other similar cases with photographers over lost images are ongoing.
Biberfeld also stated that the outstanding debt is 73 million euros that was accumulated over the past 10 years. The Sygma agency was founded in 1973.
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