After more than a year of flirting with torrent sites, including the now infamous attempts to buy The Pirate Bay, the perilous financial position of Hans Pandeya’s Global Gaming Factory X has reached a peak. Two creditors, who are together owed more than $220,000, have demanded that the courts immediately put the company into bankruptcy. GGF’s overall debts are thought to be at least double that.
The Winnipeg-based law firm Thompson Dorfman Sweatman LLP has put in offers to acquire several of the largest BitTorrent sites on behalf of an unnamed client, TorrentFreak has learned. Although the true source behind the offers has not been officially confirmed, all leads point to a familiar name.
Global Gaming Factory’s planned acquisition of The Pirate Bay last summer surprised BitTorrent’s friends and foes alike. Eventually the deal didn’t go through due to financial problems, but after a few months of silence the company’s CEO returns to the stage. This time around there’s a new target for his ambitious plans, Demonoid, the largest semi-private BitTorrent community.
Global Gaming Factory’s planned acquisition of The Pirate Bay last summer surprised BitTorrent’s friends and foes alike. But The Pirate Bay was not the only site the company was after. It also put in a massive 20 million euro offer for fellow BitTorrent site Mininova.
Little over a month ago, Global Gaming Factory (GGF) announced that its shareholders had agreed to buy The Pirate Bay – the only thing that stood in their path was the actual money transfer. Today the deadline to transfer the money passed silently, putting an end to the deal and three turbulent months.
Just as the payment deadline for the Pirate Bay deal is set to expire, its intended buyer Global Gaming Factory (GGF) faces yet another setback. Former director and board member Johan Sellstrom is owed hundreds of thousands of dollars by the company and has now requested bankruptcy for his former employer.
Global Gaming Factory (GGF), the company that says it is set to buy The Pirate Bay, has been kicked off the Swedish stock market following several serious violations. Since half of the payment for The Pirate Bay acquisition would be in GGF shares, it is uncertain whether the deal will now go through.
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