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GGF facing bankruptcy?

Published on 21 Sep 2009 under category: legal

The Global Gaming Factory (GGF) is reportedly facing bankruptcy.

It has been claimed that the firm, which was lined-up to take over popular file-sharing website the Pirate Bay, has been served a bankruptcy order in a Swedish court.

Johan Sellstrom, a former director of the company, is thought to have taken this action in relation to money that he says he is owed.

He said: "This is just standard procedure and the next step is for GGF to pay or explain why not and to show that they are indeed not bankrupt."

It is not yet known how this reported legal action will affect the company's proposed takeover of the Pirate Bay, insolvency and bankruptcy solicitors may be interested to hear.

In other news, last week it was revealed that In The Box, a County Durham-based business which specialises in the supply of fitted kitchens, is set to be shut down by the Insolvency Service.

If you require advice on Insolvency and Bankruptcy please call us on +44 (0)20 7831 0101 and ask for Katherine Sillett.