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Sex.com Sale Approved, Creditors to Get $10 Million

Sex.com Sale Approved, Creditors to Get $10 Million
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Oct 29, 2010 3:00 PM PDT    Text size: 
LOS ANGELES — The sale of Sex.com to Clover Holdings for $13 million has been approved by a bankruptcy court.

Upon completion of the sale, Sex.com owner Escom will pay out more than $10 million to its creditors.

Washington Technology Associates will receive $6.3 million and DOM partners will get $3.7 million.

Sedo also gets just under 10 percent, its commission for brokering the deal.

Another $2 million has been set aside until an objection filed by Nuthin’ But Net is resolved.

Earlier this week, Nuthin’ But Net filed a motion objecting to the purported amounts claimed by the secured lenders and asserted the purported creditor iEntertainment’s claims should be disallowed because its note was wrongfully obtained.

The motion also accused investor Mike Mann of “self-dealing,” an allegation Mann denies.

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