Jacksonville, FL, Dec. 04, 2008 [*]. a21, Inc. ("a21") (OTCBB: ATWO), today announced that it and its subsidiaries, SuperStock, Inc. and ArtSelect, Inc., have filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the US Bankruptcy Court for the Middle District of Florida, Jacksonville Division.
In addition, a21 has filed separate motions to sell the U.S. assets of SuperStock, Inc. to Masterfile Corporation, and to sell the assets of ArtSelect, Inc. to Metaverse Corporation. Both sales are free of liens and encumbrances pursuant to Section 363 of the Bankruptcy Code, and are subject to higher and better bids at an auction sale expected to be conducted by the Bankruptcy Court in the next 4-6 weeks.
