Petteri Pyyny
27 Sep 2002 14:10
Napster's unsecured creditors' attorney said today that the group has analyzed the bids they have received for Napster's assets and have signed an agreement with one of the companies. They hope to finish the deal as early as on next week.
Attorney, Rick Antonoff, also expects that U.S. bankruptcy court will rule on Monday that Napster can keep its Chapter 11 bankruptcy status and avoids Chapter 7 liquidation, which would mean splitting up the company's assets and auction them to highest paying parties.
Source: News.com