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Expert wrote:The only logical explanation is that Telnic is in administration!
Q - What is a pre-pack?
A - A pre-pack is a shortened form of the phrase “pre-packaged administration”. A pre-pack is a deal to sell the assets of a failed company, which is agreed prior to the insolvency, and is then usually completed almost immediately after the appointment of the Administrators.
It can be the best way of preserving value for the business, creditors and shareholders. If a business enters administration it may result in disruption, uncertainty and a real certainty that the business would cease to operate, meaning losses to all stakeholders.
A pre-pack transaction can mean a smooth transition with enhanced realisations for creditors and the preservation of value for goodwill and the brands of the business.
If a pre-pack is applicable in an administration where you are a creditor, you will be sent information on why the pre-pack was used when you are notified of the appointment.
https://www.icann.org/resources/unthemed-pages/tel-agreement-2006-04-07-enARTICLE VI Termination Provisions
Section VI.3 Bankruptcy. This Agreement shall automatically terminate in the event Registry Operator shall voluntarily or involuntarily be subject to bankruptcy proceedings and such proceeding is not dismissed within sixty (60) days.
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