Linux distributor MandrakeSoft said yesterday that a French court had approved its plan to exit bankruptcy protection.
The company's plan provides for the payment of creditors over a period of nine years.
The turnaround was largely made possible by improvements in the company's financial results - MandrakeSoft recently recorded its first profitable quarter since 1999.
"This signals the return to normal operations for MandrakeSoft after a 14-month observation period," the company said in a statement.
The Linux developer chose the Chapter 11-style bankruptcy protection in January 2003, but recently posted fourth-quarter 2003 profits of €270,000 (£180,000) and revenues of €1.42m, its first profit in four years.
MandrakeSoft will release the next version of its operating system, Mandrakelinux 10.0 Official, in May, and is planning several new products for the corporate and individual markets, the company said.
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