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FortressITX (DedicatedNow/SolarVPS) Files for Chapter 11 Bankruptcy

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tmzVPS-Daniel

Active Member
Verified Provider
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QuadraNet_Adam

QuadraNet_Adam

Active Member
Verified Provider
I still remember the good old days when HostGator used DedicatedNOW (before ThePlanet, which then became SoftLayer).
 
drmike

drmike

100% Tier-1 Gogent
This was posted on WHT:

"The company these documents reference is a holdings company. FORTRESSITX LLC did not file bankruptcy. Additionally, FORTRESSITX, LLC does not own Solar VPS or DedicatedNOW. Those are completely separate companies."

So it would appear the multiple corporation insulation game is at play.

Debt shedding of $205k is weird, cause Digital Realty is their landlord / facility owner it appears.
 
drmike

drmike

100% Tier-1 Gogent
From PACER:

Thursday, November 13, 2014 27 Order Granting Application to Employ Thomas M. Kotulak, CPA as Accountant Related [+]. Service of notice of the entry of this order pursuant to Rule 9022 was made on the appropriate parties. See BNC Certificate of Notice. Signed on 11/13/2014. (env)

..... Unsure why there is an accountant / CPA appearing in Court records ....
 
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Kris

Kris

New Member
They screwed back NAC.net back in the day and tried to play big-boy data center after stealing IPs via injunction, but it didn't last.

When I was with DedicatedNOW it was a bit of a joke, the hand scanners weren't plugged in, 1 guy there at night who didn't know much of what was going on. This was 2-3 years after they decided to start playing data center in Clifton.

Looks like TelX might have bought the property, and their attempted move from budget dedicated -> high end seems like it never made it to fruition. 

Looks like the night run to Clifton and old DCJN* came back to bite him.

*look that up for extra points, mentioned in the NAC lawsuit
 
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drmike

drmike

100% Tier-1 Gogent
Kris said:
They screwed back NAC.net back in the day and tried to play big-boy data center after stealing IPs via injunction, but it didn't last.

When I was with DedicatedNOW it was a bit of a joke, the hand scanners weren't plugged in, 1 guy there at night who didn't know much of what was going on. This was 2-3 years after they decided to start playing data center in Clifton.

Looks like TelX might have bought the property, and their attempted move from budget dedicated -> high end seems like it never made it to fruition. 

Looks like the night run to Clifton and old DCJN* came back to bite him.

*look that up for extra points, mentioned in the NAC lawsuit
Click to expand...

The NAC lawsuit is quite a read.  

The filing was wrote by a moron, be they a BAR member or not.  Tons of funnies about Silverman and his oy vey is me sympathy to the Court.

Word has it there are other cash flow issues and perhaps some lavish living at play in this latest matter.  Not like we haven't seen that a million times before or anything.

At minimum it's more corporate structuring games to protect and arguably to evade payments.
 
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Steven F

New Member
Verified Provider
drmike said:
This was posted on WHT:

"The company these documents reference is a holdings company. FORTRESSITX LLC did not file bankruptcy. Additionally, FORTRESSITX, LLC does not own Solar VPS or DedicatedNOW. Those are completely separate companies."

So it would appear the multiple corporation insulation game is at play.

Debt shedding of $205k is weird, cause Digital Realty is their landlord / facility owner it appears.
Click to expand...

http://puu.sh/cVR1F/d7159be279.png

Mhmm...
 
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Steven F

New Member
Verified Provider
Just to distinguish.

The company that filed bankruptcy is Fortress ITX WEEHAWKEN LLC. This is supposedly a holdings company for Fortress ITX LLC.
 
TurnkeyInternet

TurnkeyInternet

Active Member
Verified Provider
I'm a firm believer in a rising tide lifts all boats - never good when you see entrenched/real companies struggling or going off the cliff.   It's one thing when you are dealing with 'kiddie hosts' as they call it, 1-person operations - but the bigger players with entrenched history going off the cliff is never good for anyone.

I hope they do find a way to recover and come out of this - and based on some of the discussion it looks like certain subsidiaries are what they are doing this with and maybe not all the business hosting entities, but it still doesn't instill good thoughts to anyone looking at anything related to that.
 
Kris

Kris

New Member
I'm betting the only thing that comes out of this un-touched is SolarVPS and assets, which probably doesn't have Jay's name on it for good reason.

That's probably the only profitable arm since DedicatedNOW tried going high-end (missstakeeee)
 
qps

qps

Active Member
Verified Provider
Sounds like this company is the one that signed the lease on the data center space.  This smells like a dispute with the landlord since they are the only debt listed in the BK.

If any of the other companies were involved, there would be a lot more involved in the BK.
 
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tmzVPS-Daniel

Active Member
Verified Provider
From the facts that I know which I cannot release at the moment, things are not going good there. There are serious internal issues, and they will start coming up 1 by 1 soon.

- Daniel
 
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