Feeds

Sex.com auction delayed

Lawyers step in to block bargain sale

Build a business case: developing custom apps

The auction of the controversial domain name sex.com has been delayed, after some of its owner's creditors stepped in with a bankruptcy claim.

The foreclosure sale had been due to go ahead in New York today, with a simultaneous online auction at ProxiBid.com, but the auction is now listed as “postponed”.

The law firm of Meister Seelig & Fein said in a press release that it has filed an involuntary Chapter 11 bankruptcy petition against sex.com's indebted current owner, Escom.

“Petitioners took this action to protect their interests and to maximize value for all other creditors and equity holders,” the firm said. The sale “would have diminished the value of Escom's assets”.

Domain investor Michael Mann, who said he is a creditor, said in an email: “[I]t has been delayed because the auction and sale process was flawed and illegal and a bankruptcy judge can protect it.”

It seems Escom's creditors were worried that a foreclosure auction was not the best place to sell off one of the internet's most valuable pieces of real estate.

Escom acquired the domain for a rumoured $14m in 2006. Sex.com has a storied past, and was the subject of a 2007 book by our own Kieren McCarthy. ®

5 things you didn’t know about cloud backup

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer quits Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
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.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.