AfterDawn: Tech news auction halted by creditors

Written by Andre Yoskowitz (Google+) @ 19 Mar 2010 18:31 User comments (2) auction halted by creditors, the domain name that was expected to go up for auction with a minimum $1 million bid, has seen that auction taken down by its creditors.
Escom LLC., the company that bought the domain name for $14 million just 4 years ago, has filed for bankruptcy protection, saying they are owed $10 million. The three creditors, Washington Technology Associates, iEntertainment Inc, and noted that the auction "would have diminished the value of Escom's assets."

When a company files for an involuntary bankruptcy protection, lenders are temporary prevented from seizing assets.

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2 user comments

119.3.2010 20:37

Yeah looks like the creditors NEED their share of porn from the sound of it. Can't take the candy away from them without them crying!!

210.1.2011 0:40

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