Breaking Business News: Sex.com Auction May Not Take Place
Breaking news about a business opportunity rarely found came to my email inbox and thought it would be good to share with a few of my friends.
In case you didn't know it, Sedo is a place you can buy or sell domain names. The process is pretty simple and, of course, they will take a fee out of the sale price for their business services. This becomes a reference because of the question heard in a variety of workshops: "How and where can a person buy or sell their domain?"
Here is the news I received by email about sex.com. I know you were probably getting ready to make a bid.
Sedo just learned that an Involuntary Chapter 11 petition has been filed against Escom, owner of the Sex.com domain name.
This could mean the scheduled foreclosure auction of the domain, Sex.com, will not take place tomorrow as previously planned.
Sedo will keep you informed of any further updates regarding this breaking news.
For more information please reference the official press release below:
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
Your Sedo Team
Now the question might be: How the heck does a business that owns the url domain name sex.com go into chapter 11? Will that story become the next hit movie?
Keep Sedo.com in your business success toolbox. You never know when they might come in handy.