Napster Creditors Hire Firm to Auction Assets
Investment banking firm Trenwith Securities LLC, said Tuesday it was retained to auction the assets of the once wildly-popular Napster song-swap service. Trenwith, a unit of BDO Seidman LLP, said it was hired by the committee of unsecured creditors of Napster to market the assets free of all liabilities and pending litigation claims. Proposals from qualified bidders must be submitted by Aug. 21, 2002 for the auction commencing on Aug. 27, 2002. The service has been idle since last summer due to a copyright infringement suit filed by the recording industry. “Despite being shut down in July 2001, the company… Read more »
