IP addresses are now assets

Michael R. Wayne wayne at staff.msen.com
Fri Dec 2 04:04:23 UTC 2011

>From http://www.detnews.com/article/20111201/BIZ/112010483/1361/Borders-selling-Internet-addresses-for-$786-000

   Borders selling Internet addresses for $786,000

   Bill Rochelle/ Bloomberg News

   Borders Group Inc., the liquidated Ann Arbor-based bookseller, will
   generate $786,000 by selling Internet addresses, thanks to the
   current shortage.

   In September, Borders was authorized to sell most of the intellectual
   property to Barnes & Noble Inc. for $13.9 million. Borders' block
   of 65,536 IPv4 Internet protocol numbers weren't sold.

   After negotiating with multiple prospective buyers, Cerner Corp.
   agreed to buy the Internet addresses for $12 each. Other bids were
   as low as $1.50 each, according to a bankruptcy court filing.

   The sale to Cerner is scheduled for approval at the Dec. 20 hearing
   where Borders also hopes the bankruptcy court will confirm the
   liquidating Chapter 11 plan. The plan distributes assets in the
   order of priority called for in bankruptcy law.

   The disclosure statement says unsecured creditors with $812 million
   to $850 million in claims can expect to recover from 4 percent to
   10 percent. The projected recovery doesn't include proceeds from

   Borders completed liquidating the remaining stores in September and
   separately sold store leases and intellectual property.

   Borders had 642 stores on entering bankruptcy in February and was
   operating 399 when the final liquidations began. It listed assets
   of $1.28 billion and liabilities totaling $1.29 billion.

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