PracticeConsultingMore dotcoms forced to call in IPs

More dotcoms forced to call in IPs

Administrators from top 20 accountancy firm Kingston Smith have been appointed at betting website Firststake.com.

The dotcom is part of OFEX-listed Firststake plc, which also owns bookmaking chain First UK Racing Limited – which continues to trade normally.

Firstake, which has a UK staff of 30, has reached an agreement with Sportingbet.com who has agreed to honour internet customer accounts from Firststake.

Nick Miller and Tim Bramston from Kingston Smith are seeking a buyer for the bespoke software and the associated intellectual property rights designed to operate the site.

  • Insolvency practitioners Nick Edwards and Colin Wiseman of Deloitte & Touche have been appointed provisional liquidators of AduroNet, a virtual private network and web-hosting company.

The company was unable to secure a second round of financing and was forced to file a winding-up petition. AduroNet was created last year in Uxbridge with £35m of venture capital funding.

‘The failure of AduroNet to secure further funding reflects a downturn in market conditions for technology-based investments,’ said Edwards.

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