|Commodore Auction News As of 21-Apr-1995 @ 07:00:00 EDT This document will not be updated again until around 18:00:00 EDT as I will be working all day. Please email me (root@wizard.hip.cam.org) the latest information regarding the auction and I will update this document when I return. Current Information: Up to the minute information can be obtained from IRC on the #Auction channel. An IRC conference is scheduled for Apr 21, 1995 at 23:00:00 EDT on IRC. Join the #Amiga channel to find out the actual name of the channel. You can obtain several other log's here from IRC and GENIE conferences. Commodore UK has pulled out: Date: Fri, 21 Apr 95 12:31 BST-1 From: John Kennedy To: mat@darkside.demon.co.uk Subject: Re: Your mate Marc Title: Press Release April 21st 1995 PRESS STATEMENT --------------- Commodore/Amiga UK Management Buyout During the last few days leading up to the bidding process it became clear that ESCOM and their associates or DELL COMPUTERS would have the financial muscle to overbid our independently financed offer. In the circumstances the UK Management Team took the decision to withdraw early and work with the winning bidder. In this way our ability to achieve our original objective of re-establishing the Amiga in a prominent position in the marketplace would be maximised. ENDS JohnK Jason Compton: The News, as best as I can present it, as of 4-20-1995, about 10:00 PM Eastern US time. OK. Today, the only valid bid presented to the liquidators was from Escom. Two other bids were presented. One, from Creative Computers (NOT CEI, a California-based dealer) was rejected because they could not put up the necessary deposit. The second, from Dell (PC-clone manufacturer) was rejected because it dictated a 7-day investigation period on patents. The liquidators ruled that any and all conditions were unacceptable, which is why Alex Amor and presumably David Pleasance did not bid. So, Escom's standing bid of $5 million was accepted. NOW-Tommorow Judge Garrity will be ruling on the objections to the sale. In addition to the objections from the C= US creditors, the liquidators of Commodore BV/Philippines/Netherlands/UK, and IBM... He will ALSO have objections from Alex Amor, very probably from Dell, and possibly from David Pleasance. Essentially, Dell and Amor are both willing to offer more than the Escom $5 million and can't fathom why their bids have been rejected or invalidated. Amor told me he hopes to get the judge to open the courtroom floor for bidding right there and then. How likely this is, I have no idea. That's all I know. Jason Compton Editor-in-Chief, Amiga Report Magazine jcompton@xnet.com Amazing Computing Managing Editor (Older News): From: donhicks@aol.com (DonHicks) Newsgroups: comp.sys.amiga.misc Subject: >>ESCOM Wins first round in CBM Auction<< Date: 20 Apr 1995 16:45:08 -0400 Organization: America Online, Inc. (1-800-827-6364) Lines: 27 To: All 4/20/95 From Amazing Computing For The Commodore Amiga According to our source at the Commodore Auction in New York today, initial bidding was made by only two companies, ESCOM of Germany and DELL Computer. There were sixty attendees at the auction. Most of the attendees were previous stockholders, creditors, and other interested parties. No one else offered the required $1 million deposit, although one CA dealer did express interest and attempted to bid but they were unable to show an ability to pay the $1 million. Although the Dell Computer bid offered more money, the Dell bid required additional time to study the patents. This request was declined and ESCOM's lower bid was accepted. The ESCOM bid will be presented to the Bankruptcy court in New York on 4/21/95 but there is expected to be strong opposition. In any event, the court presentation tomorrow should be the final act in this continung saga. Don Hicks Managing Editor Amazing Computing