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Lycos’ arm YMA out of Chapter 11
Highlights
Lycos Internet Ltd, a global internet brand, on Wednesday announced that its wholly owned US subsidiary Ybrant Media Acquisition (YMA) has moved out of Chapter 11.
Hyderabad: Lycos Internet Ltd, a global internet brand, on Wednesday announced that its wholly owned US subsidiary Ybrant Media Acquisition (YMA) has moved out of Chapter 11.
While the required funds were not yet available, Lycos informed the US court that significant progress was made towards completion of the financing. United States Bankruptcy court of NY denied confirmation of the plan filed by the debtor causing YMA moving out of Chapter 11.
The Judge advised both parties YMA and Daum to settle the case out of court. LYCOS reached out to Daum counsel to lay the ground work for settlement discussions.
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