+++21/04/95SOLD!
With an enhanced bid, Escom managed to silence the creditors fears, and have duly won the bidding process.The remaining objections from IBM and Dell seem to have been overuled, although the sale must still be approved in the Bahamas.
See the full story in the June issue of Amiga Format.
Commodore UK will place no further bids for the rights to the Amiga. In a press release, the UK team stated that they preferred to withdraw from the process now, and now hoped to co-operate with the winning bidder. The statement went on to say:+++20/04/95"In this way our ability to our achieve our original objective of re-establishing the Amiga ina prominent position in the marketplace would be maximised."
NO SALE!+++18/04/95At the auction, held in New York on 20th April, all bids apart from the initial Escom one were deemed invalid. Effectively, the whole sale collpsed in farce.
As we understand it, the Escom bid will be put before the US courts today, but it is unlikely that this will be ratified.
More complete news, as soon as we get it.
It is confirmed from the liquiators and US courts that the final bids must be in by 10am, 20th April. Anyone with large quantities of cash welcome... If you're really interested, why not have a look at the the official text of the Court document relating to the sale of Commodore?+++07/04/95
A final date has apparently been set for the Commodore International liquidation proceedings.+++15/03/95We believe this to be 20th April, although this has not yet been confirmed with the liquidators
It has been confirmed that German PC manufacturer, Escom, have entered the bidding process, which is now in its final phase. Escom had previously been carrying out seperate negotiations for the C= trademark, which they hoped to use on their own PCs.+++01/03/95Commodore UK have said they are "looking forward to entering the bidding process with Escom". Under the original terms of the liquidation, this final phase was to take 14 days, but the Commodore UK team believe that it could actually take six weeks before a result was announced.
Colin Proudfoot and David Pleasance are currently in Germany, drumming up support from developers there.
Details of Commodore's bid being accepted have been eclipsed by the reports that CEI have entered another bid.+++16/2/95To a great extent, this doesn't matter, as the whole contest should now move to the courts in the Bahamas for the final bidding phase.
The investors and the liquidators are meeting at the moment. The agreement amounts to some 93 A4 pages and is taking time to work through. Some minor quibbles are still to be worked out. Signing expected early next week.+++6/2/95
Reports that Medhi Ali and Irving Gould had interrupted the liquidation process have been denied by Commodore UK and the liquidators. The process has been requested to be moved to the Bahamas in the interests of speeding everything up.+++ 27/1/95
At the moment, the Commodore UK bid is still the biggest on the table, and the liquidators are drawing up an agreement which specifies exactly what they will be getting for their money.
Still no definite answer on success of Management Buyout. Also no confirmation that Amigas are being assembled again, in spite of many rumours to this effect.
Firm news expected in a matter of days.
