Borders may own some stock in the ofttimes darling dark horse of the eBook world, but Kobo is very interested in separating themselves from the sinking Borders brand. That’s not exactly a shocking revelation, we know.

It was more or less a partnership that never was. Back in May of this year Borders “partnered” with Kobo to expand eBook services. In reality that partnership consisted of Kobo assuming Borders eBook business for them, in turn for some shares and a few coffee filters. Okay, that’s a lie. There were no coffee filters. But Borders  dressed up the lopsided deal anyway, most likely in hopes of sweetening the lemon juice deal they were offering would-be buyers.

Since the announced liquidation of Borders, Kobo has released a very concise and somewhat cold statement about their relationship with the recently deceased. The statement can be read in full on PaidContent’s blog. Here some of the juicier bits:

—While Borders is one of the early investors in Kobo, it holds only a minority stake in Kobo, approximately 11 percent. The Borders shares are subject to the terms of the Kobo shareholders’ agreement which, among other things, restricts their transfer or disposition.

—Borders serves as part of Kobo’s distribution in the U.S. along with Best Buy, Walmart, Sears and other top retailers.

—Kobo does not rely on Borders for content. Kobo owns the publishing agreements and has direct relationships with all major publishers, including Random House, Simon & Schuster (NYSE: CBS), HarperCollins, St. Martin’s Press and many more. Kobo is solely responsible for payment to publishers for eBooks sold through the Kobo platform and publishers will continue to be paid on time as usual.

Kobo goes on to explain how, because Borders was never really involved in the process to begin with, no service interruptions will occur for Borders users. Most likely the app will update one day and reload with the Kobo logo.

This lopsided relationship reminds us about just how amateurish Borders executives have been over the years. From the partnership with Amazon in 2001, thus forever losing them control over their online fate, to this last desperate attempt to enter yet another market they never foresaw coming (eBooks).

Borders booksellers, the folks in the trenches and bunkers, were some of the best in the business. It’s no fault of theirs that Borders arrived here. And it’s sad to see communities losing their local Borders, for even a big top, perhaps especially a big top, can become that wonderful lived-in entity we call a bookstore.

But let’s stow that sentimentality and instead take one last look at the Borders.com website.

Wait… Last? Change that. Take your first look at Borders.com.