153,000 Premium Domain Names Owned By Ondova Hits The Bankruptcy Court Auction Block: Minimum Bid $4.3 Million
The U. S. Bankruptcy Court has just issued a Court Ordered for the sale of two portfolios of domain names, one containing more than 150,000 domain names and separate portfolio of more than 3,000 domain names (the “Portfolios”), plus related monetization and registrar contracts.
The minimum bid is $4.3 million dollars and you will have to put up $500,000 into escrow to bid on the auction.
The domain names are owned by Ondova a company that Jeff Baron was involved in and which we wrote about in March of last year.
“The auction of these two portfolios, one containing 3,000 premium domain names, and another large portfolio containing more than 150,000 domain names, will take place on November 9, 2012, in Dallas, Texas.”
“The ruling allows liquidation of receivership and bankruptcy assets to resolve all claims, terminate the receivership currently administering the portfolios, and to pay fees owed to 22 different law firms and solo attorneys.”
“Interested bidders are invited to visit the website http://CourtOrderedDomainSale.com/ to request bid information. November 6, 2012, is the deadline to qualify as a bidder.”
To be considered a qualified bidder, a $500,000 earnest money deposit must be made, the standard Asset Purchase Agreement (APA) form must be signed with a qualifying overbid of at least $4.3 million, and a Non-Disclosure Agreement must be signed no later than November 6, 2012. ”
“Validation of ability to close is required; only serious bidders should apply.”
The Receiver retains the right to sell the portfolios in whole, or in part. Due Diligence materials will be made available on a confidential basis and at the sole discretion of the Receiver.
The auction will take place November 9, 2012 at 1717 Main Street, Suite 4000, Dallas, Texas, 75201, at 10:00 a.m. CDT.
Only Qualified Bidders will be permitted to attend the auction.