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Sex.com up for sale?

Discussion in 'Domain News' started by Jonathan, Mar 18, 2010.

  1. Jonathan

    Jonathan Membership: Community

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    Just got this email from SEDO:

    Hello Jonathan,

    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
     
  2. Lorenzo

    Lorenzo Membership: VIP

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    No one is "Owner" of any domain.
     
  3. Jonathan

    Jonathan Membership: Community

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    Once someone registers a domain, they have the option to renew the registration indefinitely. So although you're right and no one technically 'owns' a domain, the arrangement is akin to a freehold lease in which there is an option to renew the lease forever for a nominal fee.