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Businesses

Pirate Bay Buyer Sued For Bankruptcy 102

pharazon writes "Global Gaming Factory (GGF), the prospective buyer of file-sharing site The Pirate Bay, has been sued in the Stockholm District Court for bankruptcy due to an unpaid debt of up to 1.4 million SEK (Swedish Crowns, roughly 200k USD). The issuer is GGF's trading partner, Advatar Systems. GGF was recently de-listed from the Aktietorget.se equity market due to financial and reporting failures, but was able to re-list later. The Swedish Tax Office was also claiming large sums of unpaid taxes from the owners of GGF. The discussion in the Swedish media has been skeptical about the Pirate Bay deal due to financing issues."

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