Corporate News 23-Aug-17
Lycos Internet provides update on subsidiary - Ybrant Media Acquisition
YMA moves out of Chapter 11
Lycos Internet announced that its wholly owned subsidiary Ybrant Media Acquisition has moved out of Chapter 11. While the required funds were not available, Lycos informed the court that significant progress was made toward completion of the financing. United States Bankruptcy court of NY denied confirmation of the plan filed by the debtor causing YMA to being moved out of Chapter 11. The Judge advised both YMA and Daum to settle the case out of court. Lycos reached out to Daum consultant to lay the ground work for settlement discussion.
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