Claims Sex.com Over $10 Million in Debt — Mike Mann
Firms claim Sex.com owner in debt over $10 million.
Three creditors filed an involuntary bankruptcy petition against Sex.com owner Escom, LLC today in U.S. Bankruptcy Court, Central District of California.
The petition, obtained by Reglike (pdf), lists three creditors, all of which appear to have investor and BuyDomains founder Mike Mann as the chairman. All three entities have the same address in Potamac, Maryland:
Washington Technology Associates, claiming $6,607,803.66
iEntertainment, Inc. claiming $3,476,515.02
AccountingMatters.com, LLC $7,800.00
The total claims are $10,092,118.68
This ought to mean that Thursday’s planned auction of Sex.com will be postponed.
In earlier comments to Reglike, Mann stated “I am merely an investor who got completely railroaded by other investors with big guns, bad practices, and bad attitudes.”
Mann had stated he was going to take legal action to prevent the auction, but this was certainly last minute.
As the case moves forward, more details regarding what went wrong will likely become public.
