I had a friend who had the misfortune to sign with a major Independent Publisher just when they were beset with all financial troubles and a number of obligations in her contract were not met by the publisher, including her advance. Fortunately, that’s all been worked out. But it got me thinking. What happens to an author’s works when the publisher actually does go belly-up? Is that normally spelled out in the contract? Would it be a big deal if an author wanted the rights to revert to them if the publisher went out of business or does that defacto fall under the out-of-print clause in a lot of contracts? Do you lose your right to your royalties—as in all money that comes in to the publisher goes to payback creditors like in a bankruptcy or would you still get paid? Might you have to take a pro-rated rate?