Zultys Auction Picks Up on Monday amid Political Posturing
By Robert Liu
TMCnet Executive Editor
As the Zultys Technologies (News - Alert) auction proceedings enter their second week on Monday, the parties attending the hearings in U.S. Bankruptcy Court, Northern District of California, in San Jose have begun to resort to political posturing.
On Wednesday, Pivot VoIP, the Mountain, Calif.-based company backed by Telrad Connegy of , signaled its intentions to start the biding at $1.6 million, following the initial bid of $1.55 million pledged by InPath Devices, a former Zultys reseller based in
Instead, Pivot VoIP has been accused of trying to break up the company in order to take all of the key intellectual properties back to its Israeli headquarters. Word is also that InPath (acting as Newzul) doesn’t plan to return to the proceedings next week.
In his posting, Weinrib stated:
“Pivot is planning to continue to product. Pivot is also planning to continue to utilize the reseller channel to make the company profitable as soon as possible,” Movshovich told TMCnet during a telephone interview.