Court Ordered Domain Sale: Auction Sale of Domain Name Portfolios in Ondova Settlement

Large domain name portfolios will be auctioned November 9 to satisfy bankruptcy and receivership related debts.

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Dallas, TX (PRWEB) October 23, 2012

The U. S. Bankruptcy Court has issued a Court Ordered Domain Sale, a section 363 auction sale of two portfolios containing a total of 153,000 premium domain names (the Portfolios), plus related monetization and registrar contracts, together with related portfolio data for a minimum of $4.1 million to a “stalking horse bidder.” Ondova Limited’s Chapter 11 Trustee, and the Receiver in related litigation, will conduct the Court Ordered 363 auction sale to satisfy various claims.

The auction of these two portfolios, one containing 3,000 premium domain names, and another large portfolio containing more than 150,000 domain names, will take place on November 9, 2012, in Dallas, Texas.

The ruling allows liquidation of receivership and bankruptcy assets to resolve all claims, terminate the receivership currently administering the portfolios, and to pay fees owed to 22 different law firms and solo attorneys.

Interested bidders are invited to visit the website http://CourtOrderedDomainSale.com/ to request bid information. November 6, 2012, is the deadline to qualify as a bidder.

To be considered a qualified bidder, a $500,000 earnest money deposit must be made, the standard Asset Purchase Agreement (APA) form must be signed with a qualifying overbid of at least $4.3 million, and a Non-Disclosure Agreement must be signed no later than November 6, 2012. Validation of ability to close is required; only serious bidders should apply.

The Receiver retains the right to sell the portfolios in whole, or in part. Due Diligence materials will be made available on a confidential basis and at the sole discretion of the Receiver.

The auction will take place November 9, 2012 at 1717 Main Street, Suite 4000, Dallas, Texas, 75201, at 10:00 a.m. CDT. Only Qualified Bidders will be permitted to attend the auction.

For more information, visit http://CourtOrderedDomainSale.com/ or Email CourtOrderedDomainSale (at) gmail (dot) com.

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