[CliffFletcher]

Beaton's name is attached to the new business presumably because it carries some cachet. Well, that works both ways. You want people to patronize your business because of your good reputation, then don't be surprised if they turn away from your business if you earn a bad reputation.

There's an Alberta-based boardgame publisher that engaged in a similar scheme a few years ago. They took a big chunk of coin from an investor (a member of the hobby community) on the promise to republish a new edition of an old classic. But they were losing business on other publishing efforts, so before they could publish this game they shut down the company, leaving the investor high and dry.

Then they immediately started a new company with a new name and tried to get back into the business of publishing games. But the boardgaming community is small, and everyone knew exactly who they were. Nobody is supporting them. One of the principals of the company has to wear a fake name badge when he attends a local game convention because his name is dirt in the hobby.

Legal or not, the practice of leaving creditors, employees, supporters high and dry and then immediately starting a new business strikes a great many people as unethical. If your business relies at all on public reputation, expect to pay the price.