Feeds

Pirate Bay buyer admits doubts over deal

Also, sky is blue

Top three mobile application threats

GGF, the troubled Swedish firm aiming to buy BitTorrent tracker the Pirate Bay, has admitted the deal may be crocked.

"At present, GGF cannot discern whether the acquisition will be completed regardless of the outcome of the trial," it said in a statement, referring to its ongoing travails in the bankruptcy courts.

In September, GGF, a publicly traded company, was hit with a winding up order by one of its creditors, a former director. The firm's shares were suspended in August after it failed to demonstrate funding was in place.

Despite the obvious problems, GGF's boss Hans Pandeya had continued to insist its $7.7m Pirate Bay deal will go through.

Today GGF struck a different tone. "The acquisition process stalled because of a bankruptcy filing against GGF and despite several attempts by GGF to clarify the situation uncertainty remains," it said.

The firm had planned to take Pirate Bay legit by negotiating licensing for the hundreds of thousands of illegally-shared files it tracks.

A bankruptcy hearing is scheduled in November. ®

Build a business case: developing custom apps

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.