Feeds

Sex.com auction delayed

Lawyers step in to block bargain sale

Boost IT visibility and business value

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. ®

Best practices for enterprise data

More from The Register

next story
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
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
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
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
prev story

Whitepapers

7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
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.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?