Bankruptcy for The Pirate Bay suitor?
p2pnet news view Freedom | P2P:- It would seem Global Gaming Factory X’s effort to buy The Pirate Bay are going under for the last time.
Despite reports that everything was going swimmingly, repeated ad nauseum by TPB and GGF fans, it’s been clear almost since the beginning the deal was doomed, the first indication coming when Wayne Rosso, who’d been working with GGF owner Hans Pandeya, decided he didn’t like the way things were going and retired from the proceedings.
The deal has been fraught with problems.
Pandeya was accused of insider trading, his company was thrown off an equity exchange, Swedish tax authorities impounded Pandeya’s motorcycle, car and motor launch, and former board member Johan Sellström, “was making not waves, but tsunamis, which threaten to swamp the acquisition plans,” said p2pnet last month.
Now, in a bid to reclaim at least some of the more than $200,200 GGF is said by Sellström to owe his company, Advate Systems, he’s asked a Stockholm court to declare GGF bankrupt, says The Local.
But, “GGF is not aware of any bankruptcy petition for GGF, the company said in a brief press release,” states svd.se.
fraught with problems Global Gaming debts threaten Pirate Bay deal, August 22, 2009
p2pnet – GGF boss Pandeya `subject of smear campaign`, August 26, 2009
The Local – Pirate Bay buyer faces bankruptcy, September 18, 2009
svd.se – Begäran om konkurs för GGF, September 18, 2009
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Foto: DAN HANSSON, GGF, TPB, MONTAGE: SVD
Begäran om konkurs för GGF
September 18th, 2009 at 6:28 pm
Suppose GGF had been one of the RIAA companies.
Imagine the implications! All TPB would have to do is fake toward the “right” (i.e. correct) and solicit for an RIAA company to buy them out, then watch the deal fall through and the RIAA company implode. Rinse off the filth and repeat.
September 20th, 2009 at 10:16 am
There is such a thing as poetic justice. 20 years from now people will look back and say: the death of The Piratebay was the first sign of the internet becoming a safer place. This is when people stopped accepting rogue ISPs, rogue hosting providers, black hats, a nazi and an ad broker from putting up the largest online criminal organization ever.
The Swedish court will put an end to this in November.
This will the be the best Christmas ever. Neij, Warg and Sunde going into internet detox for a year!
September 20th, 2009 at 11:03 am
Thanks for the tip Eric. But next time we will do that without the Magician and the three clowns of the Royal Institute of Technology.
It’s always the same with these scientists. They should leave the campus more often to see what the real world looks like.
September 21st, 2009 at 7:37 am
Haha @ Luke.