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Pirate Bay Buyer Sued For Bankruptcy

Posted by Soulskill on from the thanks-for-playing dept.

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."

2 of 102 comments (clear)

  1. Re:Pirate Bay is dead. by Anonymous Coward · · Score: 5, Funny

    Your local retailer?

  2. Smell of desperation by matty619 · · Score: 5, Insightful

    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.