RWA Offered to Bid on Triskelion Assets
RWA offered to serve as a Trustee and bid on the Triskelion Assets on behalf of the authors. The authors were requested to send $100 per contract to RWA and RWA would bid in the bankruptcy proceedings on their behalf, returning all of the unspent money to the authors. There appear to be over 200 contracts in question and which amounts to a bid of a little under $8 per contract to beat out the Loose Id bid of $1500.00
The Triskelion authors rejected this, apparently believing that the Loose Id bid is in their best interests.
I did see that there are some authors making the argument that the contracts are not the property of the estate and so it will be very interesting to see what the ruling will be on that issue.
The auction is currently slated for November 15, 2007, but I am not sure how the auction can take place when there is a challenge as to exactly what the Trustee is entitled to auction off.