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Last think I read is that they got some money to solve the problems:
http://arstechnica.com/open-source/reviews/2010/07/mandriva-rescued-from-bankruptcy-releases-new-version.ars0 -
The last official press release about their state is at http://www.mandriva.com/enterprise/en/company/press/mandriva-restructures-to-establish-european-leadership
It sounds like they are currently tightening the belt and courting more new investors to ensure that they remain a player.0 -
Well, updates keep coming and 2011 version was on RC or beta, so i think that, albeit a bit slow, they are still on bussiness0
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