An Email to Creditors After AdBrite Shutdown

adbrite
AdBrite, Inc. was an online ad exchange, based in San Francisco, California, which was founded by Philip J. Kaplan and Gidon Wise in 2002.

AdBrite have started their cease operations on Feb 1, 2013.

Today, 11 Feb 2013, I just received an email from AdBrite. They wrote they are gonna sell their whole product. And before selling they would like to clear all dues to their creditors.

Look the following email that we just received from AdBrite Support team.

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Notice to AdBrite Unsecured Creditors:

On January 23, the secured lenders to AdBrite foreclosed on all of the assets of AdBrite. By law, until proceeds from the sale of assets exceed the amounts due to the secured lenders, no funds will be available to pay unsecured claims. At this point, AdBrite does not expect any funds will be available for unsecured claims. AdBrite will retain a record of your unsecured claim and will notify you if any payment is anticipated.

Regards,
AdBrite

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I am Zubi, a web analyst by profession and IT Entrepreneur. I live every moment at the fullest. I love open source projects and mobile development, and I am especially interested in Startup talks, Tech news and Trending projects.