03|17|2010 11:41 pm EDT
According to Sedo and Mike Mann (as reported by Elliot Silver) the auction for Sex.com that is scheduled for tomorrow, may not take place after all. Both sources say that an Involuntary Chapter 11 was filed against Escom, LLC the company that owns the domain. The auction page now states that the auction has been postponed.
Involuntary Chapter 11 Petition Filed Against Escom, LLC – Owner of the Sex.com Domain Name
Woodland Hills, California – Creditors of Escom, LLC (“Escom”) today filed an involuntary Chapter 11 bankruptcy petition against Escom in the United States Bankruptcy Court for the Central District of California (San Fernando Valley Division).
Petitioners took this action to protect their interests and to maximize value for all other creditors and equity holders. The filing will stay the public auction foreclosure proceedings previously scheduled for March 18, 2010, which petitioners believe would have diminished the value of Escom’s assets.
For more information, please contact:
Lawrence Morrison, Esq.
Meister Seelig & Fein LLP
The sex.com saga continues.