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Creditors: Sex.com too hot to be sold
Auction for domain name canceled
Updated: Thursday, 18 Mar 2010, 1:27 PM EDT
Published : Thursday, 18 Mar 2010, 1:27 PM EDT
NEW YORK (AP) - The suitors for Sex.com have been put off for now.
An auction for the much-sought-after domain name was canceled Wednesday after three creditors filed a petition forcing the owner into bankruptcy.
Mike Mann, an investor with all three creditors says the petition was filed to stop the auction. The creditors have a combined $10.1 million claim.
Mann says selling the domain name at an auction was not going to enhance its value. Sex.com is considered one of the most expensive domain names in Internet history.
Escom LLC paid a reported $12 to $14 million for it in 2006 but has been unable to pay the lender who backed the deal.
The opening bid for the auction was set at $1 million.
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