Dear Author on Triskelion bankruptcy

[julesjones]

Jane at Dear Author goes over the whys and wherefores of the Triskelion contract, and explains why the bankruptcy clause in the contract does not guarantee that the authors get their rights back:
http://dearauthor.com/wordpress/2007/06/24/authors-rights-when-a-publisher-files-bankruptcy/#comments

Comments

[hafren.livejournal.com]

I don't really figure this (assuming "rights" means copyright). Obviously authors owed money will have to whistle for it, but doesn't copyright remain with the author whoever publishes the book? What they assign, at least here, is publication rights, and if the company goes out of business I'd assume those reverted to the author?