The prospected buyer of the popular file-sharing website The Pirate Bay on Wednesday said that it is now “uncertain” of the reported takeover, stressing that “the acquisition has been rendered difficult.”
In a statement, small Swedish-based software firm Global Gaming Factory X said that the planned $8.6 million or 60 million kronor buyout of The Pirate Bay may no longer be amenable for the company, saying that they could no longer evaluate if the acquisition will take place.
“It has been difficult for us. We can no longer confirm or evaluate if the acquisition is viable for Global Gaming,” GGF added in the statement.
GGF executives also cited the recent filing of a company called Advatar for bankruptcy against them, saying that Global Gaming owing some 1.4 kronor.
The bankruptcy case will be heard this coming November 2 at the Stockholm District Court.
It was learned that Advatar was run by a former Global Gaming board member, who disclosed the GGF’s debt.
Meanwhile, Global Gaming denied that accusation by Advatar, saying that it is financially strong to make such acquisition.
“The filing of the bogus bankruptcy case has affected the acquisition process for The Pirate Bay after it has been reported all over Europe,” GGF CEO Hans Pandeya said.
He added that assurance of the acquisition have been reinforced by GGF. However, uncertainty among the involved parties has not dispersed.
It will be recalled that GGF announced plans of a takeover of the popular file-sharing website The Pirate Bay and transform it to a “legal” website for music and movie sharing.
The Pirate Bay, since its launch several years ago, has been one of the largest file-sharing websites in the world. To date, it has more than 20 million active users.
It will also be recalled that four pioneering men was sentenced by a Swedish Court in April to a year of prison term for allegedly violating copyright laws.