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thomascook.com

Discussion in 'Domain Name News' started by super-whois, Oct 30, 2019.

  1. super-whois United Kingdom

    super-whois Active Member

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  2. Domain Forum

    Acorn Domains Elite Member

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    articles.co.uk
     
  3. ian

    ian Well-Known Member

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    The vultures are circling. Makes sense for Thomson to try and buy the domain though, the confusion between the brands goes back as long as they do and has always been a thing.
     
  4. diablo

    diablo Well-Known Member

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    I once offered to buy a domain name from a liquidator, but the offer was rejected. I increased my offer, but it too was rejected. Months later, with the company still in liquidation, the domain name dropped.
     
    Last edited: Oct 30, 2019
  5. domain-names United Kingdom

    domain-names Active Member Full Member

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    Us too, made a decent offer but rejected and dropped a few months later.
     
  6. Trauiner United Kingdom

    Trauiner Active Member

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    Liquidation is one of those weird 'industries' where it's not as simple as taking low ball offers because they need every penny they can. There's a lot more to it as they have to try and sell for the best fair value possible so that creditors get the best payback. People incorrectly assume that if a company is in liquidation, it's automatically a way to get things for extremely cheap.

    This does result in odd situations sometimes where the creditors may actually lose out. Liquidators can't simply go "Let's sell this £50,000 domain for £1,000 because that's the highest offer we've had", even though it will drop in 5 months if we don't sell it. Well, technically they can... but it would lead to possible investigations, them personally be held liable for underselling asset's etc.

    It can be very odd but logically it makes sense. It prevents a lot of 'legal' fraud, stripping of assets etc.
     
  7. ian

    ian Well-Known Member

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    Bought quite a few domains via liquidators, though not for a couple of years, and there always seemed to be a default "offer must be more than £700 to make it worth the paperwork".
     
  8. domain-names United Kingdom

    domain-names Active Member Full Member

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    We didn't try to get anything cheap, our offer for the particular domain name was £10k.

    if an individual can be held liable for selling assets cheaply, surely then can also be held liable for losing a valuable asset for the sake of £4.50.

    It wouldn't make any sense to the creditors of the company that don't get paid.
     
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  9. diablo

    diablo Well-Known Member

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    Both my offers were five figure offers.

    Liquidators have a duty to realise a company's assets so that creditors and hareholders can be repaid. They are failing in that duty by allowing valuable assets to be lost when offers are on the table. Personally, I believe this happens because the liquidators in question have no idea about domain names and are not in the loop as regards renewals.
     
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  10. Edwin

    Edwin Well-Known Member Exclusive Member

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    Back in the olden days of the internet, I was within hours of buying a "real" PR9 domain from a bankrupt company's liquidators in the US. (If you don't know, a PR9 domain would have had millions of legitimate incoming links from trusted sites all over the web.) But this was before Paypal was in widespread use, and I couldn't find any way to get the money from Japan to their US account in time. Despite several calls and faxes (yes, they were a thing) they ultimately refused to wait 24 hours for me to clear payment on my higher offer, and sold it at a loss to them of over US$10,000.
     
  11. Trauiner United Kingdom

    Trauiner Active Member

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    In that situation, it seems they felt your offer wasn't worthwhile, so they obviously thought your offer was too cheap/low. (If it WAS too cheap/low is another matter, but they clearly felt it was too low.)

    It's one of those things were the odd rare situation like this arises and it makes it sound like it doesn't make sense, as the creditors miss out. However, it's considered the best way to handle it overall. The issue you would run into otherwise is liquidators would want to keep the liquidation on the quiet and get the least amount of people to know about the liquidation as possible. They could then have 'pals' come in and buy large valuable things for pennies in every liquidation because those were the 'highest offers' and it's 'better than nothing' for the creditors.

    Do some creditors miss out because of it? Yes. However, the vast majority of creditors get more due to it, so it's considered the better option

    It's kinda like the whole thing were a married couple can be better off tax-wise than a single person, even if their wages total the same. When you first hear it, it's outrageous and you think why does that even exist. When you look into it further and understand why it happens, it makes more sense -- even if a percentage of low-earning people are worse off due to it.
     
  12. pugyrob United Kingdom

    pugyrob Well-Known Member

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    Bought many at liquidation and missed many. More backhanded float around with liquidators than at Wimbledon. Plus on the whole they have not got a clue about domains or where they are held.
     
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  13. BREWSTERS United Kingdom

    BREWSTERS Well-Known Member

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    Liquidators are, in general, scum. Such a corrupt business, they make estate agents look like saints. They wield too much power and rarely have to explain their actions. Often underselling assets (to their pals), their loyalty lies with the entity that employed them...so long as they and that entity gets their cut.
     
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  14. Katch!

    Katch! Active Member Full Member

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    If I remember rightly, there was a liquidator on this forum not so long ago.