Contents | < Browse | Browse >
== The Summary Of Events ==
A quick breakdown, based on the best information available, of how
Thursday and Friday transpired-
Thursday: Auction Day
The liquidators declare that no bids with conditions will be attached will
be accepted. Alex Amor of CEI does not submit his bid based on this
Computer Connection of California submits a bid for the assets that is
rejected for lack of a $1 M deposit.
Dell Computers, a US-based clone manufacturer, submits a bid for the
assets that is rejected because a condition is attached.
Escom, holding the only valid bid, finds their original signed contract
for $5 million accepted.
Somewhere Thursday Night:
The C= UK MBO issues a statement formally withdrawing for the running,
citing the overwhelming resources of Escom and Dell.
Alex Amor and Dell form a coalition bid. (It seems that Dell's primary
interest is in Commodore's patents, presumably to wage profitable lawsuits
with. Alex Amor convinces them to combine bids, allowing him to rein over
Friday Morning: Court Date
The objections against the sale are heards.
The IBM and Netherlands Trustees (of Commodore BV/Philippines/UK)
objections are heard, but very little comes of them.
The C= US Creditor's objection is heard. The result of this was unclear.
Dell offers $15 million for the assets. The creditors, the liquidator,
Dell Computers, and Judge Garrity all seem to agree that, given the
unusual circumstances, a new auction should be held, perhaps on Tuesday.
Escom is not in agreement.
Friday, During Lunch:
Escom ups its bid to $10 million.
Friday Afternoon: Court
The creditors announce that Escom has increased its bid to $10 million,
which is acceptable to them.
The deal is approved.
[My sources indicate that Alex Amor and Dell disappeared fairly quickly