#Commodore Sale
Here is an update on the Commodore situation:
The liquidator is near a definitive agreement with C=Uk on the purchase
of the remains of Commodore. The liquidator had hoped to have it all wrapped
up by today, Friday, but there are some details still remaining. The details
are being left in the hands of the lawyers for the two sides and they are being
given until Nov. 4 to wrap things up. The liquidator will report to the
Bahamian Court on Monday that the two sides are very close to a deal. After
the deal is reached, other parties will have a chance to top the C=UK bid.
C=Uk says it also will have a chance to bid as well, in case someone surpasses
their bid. The liquidator, Franklyn Wilson, also said he is near agreement
with U.S. creditors on a compromise solution so that the thing won't be held up
in the U.S. courts. The agreement is necessary because about 30 percent of the
assets C=U.K. hopes to acquire are held by American subsidiaries, including the
Amiga subsidiary, which is incorporated in California.
CEI intends to bid in the auction. Escom may also still be involved,
but I haven't quite figured out where or how. It still ain't over. Maybe
when the first snows fall.
— Dan