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ExtraTorrent.cc > Articles > Global Gaming Factory Faced Bankruptcy After Failed Pirate Bay Buyout

Global Gaming Factory Faced Bankruptcy After Failed Pirate Bay Buyout

Global Gaming Factory Faced Bankruptcy After Failed Pirate Bay Buyout

Added: Tuesday, December 21st, 2010
Category: Bit Torrent Freedom > The Industries Of Records, Gaming, Software, Movies
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, 2010, www.extrattorrent.com
After Global Gaming Factory X had unsuccessfully flirted with various BitTorrent websites, the unsteady financial position of the company has reached its peak. The failed games included recent attempts to purchase The Pirate Bay tracker. Now, 2 creditors claim that they are together owed over $220,000 and demand that the courts put the Global Gaming Factory into bankruptcy. Meanwhile, company’s total debts are supposed to be at least double that amount.

The Swedish company has managed to break into news every few months since it announced in 2009 that it was going to purchase the world’s largest BitTorrent tracker The Pirate Bay and turn it into a miracle service. However, the deal never came to pass.

Unfortunately for Global Gaming Factory, that news was bad one for the company, and today it faces bankruptcy – for the 2nd time in just over a year. History is repeating itself just like last year, when the company’s ex-employee demanded court action against GGF for unpaid debts. The only difference is plaintiffs, which are now a pair of companies – Hercora Trading Technology and Kennicott AB. They say that they are owed about $220,000 in total. The money was loaned to the company more than 2 years ago, but was never repaid.

Now the creditors require in their application to the district court that the company is placed in bankruptcy. As per a report, GGF owner Hans Pandeya already has liabilities of over $58,800 registered with the bailiff. In addition, a couple days ago Global Gaming Factory has also recorded liabilities of $66,200. Meanwhile, GGF has filed no financial reports for last year.

In his filings, the company owner put much of the blame for the current situation on the failure to buy a tracker The Pirate Bay in 2009. As you might remember, last year GGF was kicked off Swedish stock market due a number of serious violations, but Hans Pandeya paid no attention to the event and continued pursuing his dream of acquiring a torrent website. After he failed with The Pirate Bay, he approached Demonoid with a buyout offer several months ago, but was rejected. This failure also didn’t discourage Pandeya, as in September 2010 some law firm put in offers to purchase a number of the largest BitTorrent websites on behalf of an “unnamed” client, who appeared to be GGF. Unsurprisingly, those offers were rejected as well.

Thanks to TorrentFreak for providing the source of the article

December 21st, 2010

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Date:  Tuesday, December 21st, 2010

Comments (1) (please add your comment »)

posted by Blocked (2010-12-22 16:37:30)
desiboy30x avatarpirate bay is a great thing man

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