New York, Mar 21 (THAINDIAN NEWS) The auction of the domain name sex.com has being postponed for the time being, because of bankruptcy filing. The auction had to be halted as the owner of sex.com – Escom went into foreclosure because of the unpaid debts. So the buyers who wanted to bid and win one of the most lucrative domain name in the world, will now have to cool their heels and wait awhile, till the legal matters of the bankruptcy filing are sorted out.

The domain name was set to be auctioned on Thursday, and the bidders at the auction were asked to deposit $1 million, just to be allowed to bid at the auction. Even though many bidders put up the required money upfront, yet they were not allowed to bid as Escom was forced to file for bankruptcy on Wednesday night, by a group of people to whom Escom owes money.

“The auction has been postponed based upon an involuntary bankruptcy filing in California that was filed after 5 p.m. yesterday,” according to Scott Matthews who is a lawyer for DOM Partners, who is one of Escom’s main creditors. He also clarified that the auction would happen, however he was not at liberty to specify the date. He also added there were a lot of bidders who wanted to bid for the domain name, but he refused to divulge the exact number of the bidders of domain name.