Home > Domain Name News > Architelos Announces Filing For Bankruptcy

Architelos Announces Filing For Bankruptcy

architelos-logo

Architelos announced today that they are filing for bankruptcy effective immediately. The petition for Chapter 7 bankruptcy was filed today in the United States Bankruptcy Court for the District of Delaware. Customers of the NameSentry service are not immediately impacted. NameSentry will continue to operate in the short term, however the decision on the continuation and or timing of the termination of the service will be up to the Trustee.

Here is the complete announcement:

It is with regret that I inform our clients, partners, and industry colleagues that after more than five years in business, Architelos Inc, ceased operations today and commenced bankruptcy proceeding by filing a petition for Chapter 7 bankruptcy under provisions of Chapter 7 of Title 11 of the United States Bankruptcy Code. Unlike Chapter 11, which provides for reorganization and continuation of operations, Chapter 7 entails immediate cessation of company operations and an orderly liquidation of its assets.

The petition was filed today in the United States Bankruptcy Court for the District of Delaware (“Bankruptcy Court”). As a result of the filing, a Chapter 7 Trustee will be appointed to the case, and all decisions regarding the company, its operations and assets are immediately turned over to the appointed Trustee. The Trustee will then determine how to liquidate the assets of Architelos Inc. in accordance with the bankruptcy code.

Customers of the NameSentry service are not immediately impacted. NameSentry will continue to operate in the short term, however the decision on the continuation and or timing of the termination of the service will be up to the Trustee. Customers of the service should contact the Trustee, once he/she has been appointed for further information. The contact name and number of the Trustee, updates to the process, as well as any information on the case will be posted to the court’s website.

Regardless of the circumstances leading up to it, the decision to file for bankruptcy is an agonizing one for the impact it has on clients, partners, employees, and vendors. We have done our best to ensure a fair and smooth process.

Sold.Domains

About Konstantinos Zournas

Konstantinos studied Computer Engineering and Computer Science in London, UK and lives in Athens, Greece. He works on domain names and website and software development. He has been online since 1995 and a domain investor since 2002.

Check Also

opinions1b

The new ICANN policy on domain WHOIS changes is active and crazy things are happening already

December 1st was the first day that the new ICANN policy on domain name WHOIS …

10 comments

  1. Ironic: Archi (beginning) has a Telos (end.)

  2. What’s a big deal ?
    99% of the people don’t know who they are and what they are doing (that includes me)

  3. Related in which way ??
    I am related to the late Howard Hughes but it did not help me in life

Leave a Reply

Your email address will not be published. Required fields are marked *