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.
In its interim report for the third quarter of 2009, Global Gaming Factory, the company that tried to buy The Pirate Bay earlier this year, reports that its turnover has increased by 270%. While it refers to the decision to close the site’s tracker as a lost opportunity, it is not ruling out buying the world’s most resilient BitTorrent site.
Despite seemingly insurmountable problems experienced with its proposed purchase of The Pirate Bay, Global Gaming Factory continues to surprise. Today it has announced that it will call a meeting for the election of new board members. Those suggested are music industry veterans and include a BPI council member.
As if his financial issues couldn’t get any worse, the CEO of Global Gaming Factory suffered yet another humiliating setback yesterday. After a tax debt of more of $110,000 went unpaid, enforcement officers swooped last night, repossessing Hans Pandeya’s car and a motorcycle.
No matter where you go it’s Pirate Bay this, Global Gaming Factory that and to be honest, it’s all wearing a little bit thin. While you’re probably sick of reading about it, spare a thought for us – we don’t have much choice, we can’t pretend nothing is happening. So why has the BitTorrent community lost all interest in The Pirate Bay sale?
There have been many P2P-related dramas during the last decade but measured by intensity and media coverage, few have got anywhere near the proposed sale of The Pirate Bay to Global Gaming Factory. So, after everything you’ve heard and everything you’ve read – do you think the sale to GGF will go ahead in a few days time?
Despite the departure of ex-Grokster CEO Wayne Rosso and mounting doubts that Global Gaming Factory can raise funding to purchase and then legalize The Pirate Bay, the company is adamant. GGF CEO Hans Pandeya says everything is on schedule, the investors are in place and the purchase will go ahead on August 27th.
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