Court Greenlights Sex.com Order
Wednesday, June 9th, 2010
Order paves way for sale of Sex.com.
The Central California Bankruptcy Court has issued an order approving a settlement between the managers of Sex.com owner Escom, LLC. This means that Escom can go forward with entering into an agreement with domain broker Sedo to sell the domain name.
There was a slight hitch in the process as investor Nothin’ But Net (run by Mike â€œZappyâ€ Zapolin), which had been quiet in the early stages of the case, filed an objection. After filing the objection Nothin’ But Net worked with creditors DOM Partners and Washington Technology Associates to resolve their differences.
Escom will now operate as a debtor in possession pursuant to sections 1107 and 1108 of the Bankruptcy Code. Assuming the deal with Sedo goes through, you can expect marketing of the domain to begin shortly.