Potential “Pirate Bay” Buyer Hindered By Debt
Buyer Beware: Company Sale Spotlights Bankruptcy illegal Bankruptcy Sales
Acquiring property from an individuals’ bankruptcy sale or foreclosure is a fairly common practice: property that needs to be liquidated immediately can provide low rates on cars, homes, jewelry and more. But what happens when your bankruptcy purchase has illegal ties, for instance with stolen cars and goods? You can be held legally accountable?
Pirate Bay, (frequently noted as the largest “bit torrent” tracker in the world), would require millions of dollars to pay off its piracy fines and a great lawyer. They are continually pursued by both Swedish and Dutch governments despite trying to sell the company since early 2007.
Pirate Bay’s current operators actually claim they have no legal ownership of it, while its registered owner Reservella is in the Seychelles. Three different Swedish men in Dutch civil court absolutely denied any ownership of Pirate Bay, maintaining that they owned it up until 2006 when the Swedish government pursued them and they supposedly “sold” their shares. Investigators are avidly attempting to prove that one of the Swedish men is actually the elusive CEO of Reservella.
The new prospective owners, however, had their own hunk of debt, and were (perhaps fortuitously) prevented from purchasing Pirate Bay. Swedish GGF’s stock was delisted, one of the routines of bankruptcy. Bankruptcy is holding back the only serious buyer Pirate Bay has had for its two whole years on the market: perhaps the discouragement will bring the actual Pirate Bay owners into the light. With this publicity, what potential buyer would sign on for ownership that would almost guarantee criminal prosecution?
Personal bankruptcy auctions are usually much less shady, and are an important step to repaying your debts. To find out whether your Chapter 7 or Chapter 13 personal bankruptcy will implement an auction to bring you closer to financial freedom, call one of Legal Helpers’ representatives today. We offer a free initial consultation, valuable bankruptcy advice, and are available toll-free 6 days a week. Call us for debt relief today at 1-800-260-1402.
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