Creditors: Name too Hot to be Sold

By: Megan K. Scott AP Email
By: Megan K. Scott AP Email

NEW YORK (AP) - The suitors for 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. 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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