Pirate Bay Buyer Sued For Bankruptcy
pharazon writes "Global Gaming Factory (GGF), the prospective buyer of file-sharing site The Pirate Bay, has been sued in the Stockholm District Court for bankruptcy due to an unpaid debt of up to 1.4 million SEK (Swedish Crowns, roughly 200k USD). The issuer is GGF's trading partner, Advatar Systems. GGF was recently de-listed from the Aktietorget.se equity market due to financial and reporting failures, but was able to re-list later. The Swedish Tax Office was also claiming large sums of unpaid taxes from the owners of GGF. The discussion in the Swedish media has been skeptical about the Pirate Bay deal due to financing issues."
What are some good alternatives?
Oh wait...
When The Pirate Bay was owned by people had little money, they were frequently sued by people with money. Now the opposite is true.
Quick, Lets sue Ronald McDonald for being a clown or Apple for falling from grace.
That whole deal stank of desperation from the getgo. The Napster sale earlier this decade should have been clue enough that you can't take a brand known for being A) Free, and B) illegal, and somehow turn a profit simply by using the name in a legitimate marketplace.
1.4 million Swedish kronor = 138 545.887 Euros
It's the Curse of The Pirate Bay I tells ya
They never completed the deal. TPB continues to be operated by the founders. This only affects the sale, which everyone was against anyway.
These big corporations save themselves through chapter 11 while small investors go down the drain. http://next-world-war.blogspot.com/
The English word for the currency of Sweden is "kronor" or "Swedish kronor". There's only a few Swedish crowns in existence, and they're displayed in the Royal Armory Museum in Stockholm.
diealready
I have to wonder, was the whole Pirate Bay buyout plan orchestrated so that TPB could out these guys?
T' me,
Yo, Ho, Yo, Ho,
It's "Talk Like A Pirate" Day!
That time in September when sea dogs remember
That grown-ups still know how ta play!
When wenches are curvy and dogs are all scurvy
And a soft-wear patch covers your eye,
Ta hell with our jobs, for one day we're all swabs
And buccaneers all till we die!
So hoist up the mainsils and shut down your brain cells,
They only would get in the way,
Avast there, me hearty, we're havin' a party,
It's "Talk... Like... A Pirate" Day!
...but suing for taxes are second most popular way how more "alternatively democratic" countries deal with opposition in business :)
Anyway, as far as I know, deal is more or less dead in the water, so probably it is for the best.
user@ubuntubox:~$ stfu This server is going down for shutdown NOW!
What are some good alternatives?
God is Pirate Bay -Nietzsche
Even an AC should understand significant figures.
1.4 million Swedish kronor = 140000 Euros.
1,378,525 Swedish kronor, as was the exact number mentioned in the article, however, currently amounts to 136,420.70 Euros
May we live long and die out
Maybe they'll get some angel funding from Niklas Zennstrom and Janus Friis.
This is probably the first time i like the artificial body called Corporation: but this EXACTLY what the law intends.
A corporation is separate from its shareholders. Financially and legally.
If a company declared bankruptcy, the court can appoint a receiver and make sure every one gets their money.
If not, then tough luck.
Suing individuals behind the corporation however much shares they own, is a strict no-no.
BUT, OTOH, its the lawmakers who have sued.
So they can change the law to make sure pirate bay's backers pay up.
"Doing what i can, with what i have." ~ Burt Gummer
Look at the date.
Your local retailer?
It's becoming difficult to find any home theater audio or video device that doesn't support streaming media out of the box.
It won't be long before you'll just key in the title from your remote and the movie will launch.
If you want the full experience - multichannel theater sound - the ultra high definition 2K x 4K video on the 50 or 250 or 1250 GB optical disk, it will be a one-click order that arrives by post in two or three days from Netflix or Amazon.
The sea going pirate retired from the trade not only because he was being ruthlessly hunted down by the world's navies - but because his markets were being flooded with easily affordable - instantly accessible - high quality product from the legitimate trader.