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  1. #1

    DV2 - Chapter 11 Bankruptcy Filed May 1 - No Longer Multi-homed

    Well, after seeing a thread here back a few weeks ago that was removed, I did some more research, and found out the rumors to be true - DV2, Incorporated, has filed for Chapter 11 Bankruptcy in the United States Bankruptcy Court, Northern District of Georgia, Atlanta Division as of May 1, 2002. Obviously since DV2 and Tranxactglobal are so closely connected - with Tranxact using DV2 IP space, equipment, and bandwidth, this means real trouble for TranxactGlobal. It also has come to my attention that DV2 has lost their connectivity to NationalNet, which means that they are only connected to one provider - Netrail/Cogent (one in the same). This means they are no longer providing the promised multi-homed bandwidth.

    Here is evidence of my claims:

    DV2, Incorporated filed for Chapter 11 Bankruptcy in Georgia on May 1. Their case number is 02-94626. You can verify the existence of this record by calling the Northern District of Georgia's toll-free information system at 1-800-510-8284, option 2. Enter the case number without the dash, hit pound, and it will read off the information pertinent to the case. If you're international, you can call +1-404-730-2866. You can obtain a copy of the filing if you are local to Atlanta by visiting the court - directions are available at http://www.ganb.uscourts.gov/. I hope to have access to the Public Access to Court Electronic Records system, or PACER shortly, so that I can post a link to a copy of the filing online.

    They are no longer multi-homed because they lost their connectivity to NationalNet. You can see the listing of their peers at http://www.fixedorbit.com/AS/16/AS16626.htm - it shows only Netrail and Cogent. Unfortunately for DV2, Netrail was acquired by Cogent a while back, so having a Netrail and a Cogent connection is simply like having two connections to Cogent (same peers, running on the same network).

    Finally - for a bit of irony - look at Jeff Hinkle criticizing companies for choosing a provider in Chapter 11 Bankruptcy on a public list - http://isp-lists.isp-planet.com/isp-.../msg00402.html.

    So, in light of these discoveries, I would advise you to make backup plans for your dedicated server and colo providers - DV2 may not be around for much longer.

    I hope that the administrators of this board will not remove this posting, because it contains very important information for customers of DV2 who need to be informed about what's happening behind the scenes. Thanks for listening.
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  2. #2
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    Re: DV2 - Chapter 11 Bankruptcy Filed May 1 - No Longer Multi-homed

    so why not post on your normal username?
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  3. #3
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    Word of the year: "Bankruptcy"
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    Re: Re: DV2 - Chapter 11 Bankruptcy Filed May 1 - No Longer Multi-homed

    Originally posted by clocker1996
    so why not post on your normal username?
    Not defending him, but would it really make a difference?
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  5. #5
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  6. #6
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    Re: Re: DV2 - Chapter 11 Bankruptcy Filed May 1 - No Longer Multi-homed

    Originally posted by clocker1996
    so why not post on your normal username?
    why does it matter? it's factual information... why does it matter where it came from? whoever it was would just get blasted somehow for 'bashing' another company when all they are doing is reporting something that persons may want to know before investing money in a server.

    and it's funny how someone asked if they had filed bankruptcy a few weeks ago and it was denied and the thread got REMOVED... not just ended.
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  7. #7
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    Damn.. Look like dedicated server pricing is on the way up... Or maybe rackshack is going to take over the world..lol.
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  8. #8
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    Re: Colo space in San Diego??? help
    To: [email protected]
    Subject: Re: Colo space in San Diego??? help
    From: Jeff Hinkle <[email protected]>
    Date: Thu, 31 May 2001 13:20:08 -0400


    why go with someone in Chapter anything when there are other providers that are
    not???? Seems like something to get fired over when the boss asks - "who signed
    up with a company in bankruptcy?"

    "Scheulov, Daniel" wrote:


    _______________________________________
    > From: Bill Pavich [mailto:[email protected]]
    > Sent: Thursday, May 31, 2001 12:20 PM
    > To: [email protected]
    > Subject: Colo space in San Diego??? help
    >
    > I was ready to move into Colo.com in san diego just before they chapter
    > 11'd, so now I am in a bind. I can't find another colo.com in the san diego
    > area at all. Does anyone have any ideas or can recommend a carrier neutral
    > colo? I need mfs/worldcom and time warner local loops into the facility.
    > The only option I have seen so far is switch&data, which i'm going to call
    > today, but I heard they are maxed out at their facility.
    >
    > If anyone has any colo options they can recommend, please shout away!
    >
    > I need 4 racks.
    >
    dotGig
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  9. #9
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    All I can say is wow.

    I never knew this stuff was happening behind the scenes...
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  10. #10
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    Originally posted by freeva
    Damn.. Look like dedicated server pricing is on the way up... Or maybe rackshack is going to take over the world..lol.
    Why would server pricing be going up?
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  11. #11
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    Originally posted by freeva
    Damn.. Look like dedicated server pricing is on the way up... Or maybe rackshack is going to take over the world..lol.
    Pull a Yipes....all debt gone and still the same people own it....funny how this stuff works.
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  12. #12
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    Originally posted by rastoma


    Why would server pricing be going up?
    Maybe proving $99 server is not sustainable?? who knows..
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    The moral of this story is, cheaper doesn't mean better.
    Life is Minimum live it Maximum.
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  14. #14
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    I can never ever come to grips with the way Modern America does business..
    Offering Managed Servers - for an exclusive clientèle who value uptime, caring support and superior technology.
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  15. #15
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    Originally posted by freeva


    Maybe proving $99 server is not sustainable?? who knows..
    ahh.. i thought maybe he saying DV2 was a large business and that RS would now corner the market if they went under
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    Re: Re: Re: DV2 - Chapter 11 Bankruptcy Filed May 1 - No Longer Multi-homed

    Originally posted by rastoma


    why does it matter? it's factual information... why does it matter where it came from? whoever it was would just get blasted somehow for 'bashing' another company when all they are doing is reporting something that persons may want to know before investing money in a server.

    and it's funny how someone asked if they had filed bankruptcy a few weeks ago and it was denied and the thread got REMOVED... not just ended.
    i was just wondering, my god

    calm down

    no need to get up all on my case
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  17. #17
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    I believe that there is more to the story but Jeff will have to enlighten us to the "rest of the story".

    Jeff is a good guy. I hope that he will share the additional information in this forum.

    Robert
    Robert Marsh
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  18. #18
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    Rackshack should buy them out
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  19. #19
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    So I wonder why no comments from Jeff or anyone from Cabal Studios?

    Imran was quick to jump in on the post a few weeks ago and emphatically said DV2 had NOT filed bankruptcy. But he's been getting quite comfy with other businesses... most notably Transoptics.... so if there were no problems I wonder why he has been out looking for other places to resell servers through?

    http://www.webhostingtalk.com/showth...c&pagenumber=4
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  20. #20
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    Re: Re: Re: Re: DV2 - Chapter 11 Bankruptcy Filed May 1 - No Longer Multi-homed

    Originally posted by clocker1996


    i was just wondering, my god

    calm down

    no need to get up all on my case
    dude... YOU calm down.... i wasn't getting on your case


    i was just pointing to the fact that people on WHT can't say anything about another host without getting blasted for it
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    Re: Re: Re: Re: Re: DV2 - Chapter 11 Bankruptcy Filed May 1 - No Longer Multi-homed

    Originally posted by rastoma


    dude... YOU calm down.... i wasn't getting on your case


    i was just pointing to the fact that people on WHT can't say anything about another host without getting blasted for it
    lol
    i am calm

    you on the other hand sound like you want to see dv2 burn =/

    just saying thats the impression I get
    does not mean its true
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  22. #22
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    Re: Re: Re: Re: Re: Re: DV2 - Chapter 11 Bankruptcy Filed May 1 - No Longer Multi-homed

    Originally posted by clocker1996


    lol
    i am calm

    you on the other hand sound like you want to see dv2 burn =/

    just saying thats the impression I get
    does not mean its true

    No, no..... I don't want to see that... the fire may damage 56 Marietta across the street..

    Seriously though, I want just as much of a chance to make a living at this stuff as DV2 has had and I'm not jumping around gleefully at this. I've known about this news for a couple of months now, and I hope things stay together for the sake of their customers.

    I've had my differences with Jeff.. and the lawsuits he's threated me with (which is no big deal.. he threatens EVERYBODY with a lawsuit). I'm not perfect... and I have a LONG ways to go before I can say I'm better than anyone else. But things have a funny way of coming back to bite you in the ass There is a lot more to the story.... but I doubt anyone will tell it all.
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  23. #23
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    Chapter 11 isn't the end of the world, but it's certainly not promising. Maybe this helps to explain why my emails to Jeff don't get returned?

    BTW, that recording has an appropriately ominous tone to it.
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  24. #24
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    Read the tranxactglobal forum Jeff is in England at the moment and he posted an emergency email address where customers can contact him if need be.
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  25. #25

    Hate is not nice

    There is nothing wrong with posting the information. However, when the first poster (under an new name) uses the name, "I Hate DV2" it tends to cloud the motive.

    That said, I have experienced no deterioration of service, have continued to get excellent response from the entire staff, and remain pleased with the overall service of DV2. Do I have some concern...of course...but I do with most providers because their financial situation is not public. DV2's will be public as a result of their filing.

    There are many things that lead to Chapter 11 filings...some very bad...some quite understandable. Without knowing the rest of the story, we are only speculating. Some of us may have additional information, but can't disclose it.

    Once again, Robert Marsh shows class in stepping to the defense of Jeff, a competitor. I applaud that.

    If we are only going to deal with providers we have absolute proof are financially stable, we will have to shut the entire industry down, unfortunately. We have many more Chapter 11's coming.

    Let's just keep things in perspective.
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  26. #26
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    So what will happen with customers, why are they still misleading customers about multihomed, I now see why the decline in the network speeds. Why did cabalstudios deny the rumor? If I had known that I wouldn't purchased any more servers what can I do now?

    I find it a bit insulting that noone ever bothered contacting me or any other clients regarding this issue. Did they wan't to disappear overnight without being noticed?
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  27. #27
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    Originally posted by Monte
    Read the tranxactglobal forum Jeff is in England at the moment and he posted an emergency email address where customers can contact him if need be.
    Thanks for posting that info. As I'm not a customer, I wouldn't know to look there for his whereabouts. Maybe it's a moot point anyway.
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  28. #28
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    Originally posted by Myacen
    So what will happen with customers, why are they still misleading customers about multihomed, I now see why the decline in the network speeds. Why did cabalstudios deny the rumor? If I had known that I wouldn't purchased any more servers what can I do now?

    Maybe Jeff never told Imran since Imran just resells their servers there.
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  29. #29
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    Originally posted by Myacen
    So what will happen with customers, why are they still misleading customers about multihomed, I now see why the decline in the network speeds. Why did cabalstudios deny the rumor? If I had known that I wouldn't purchased any more servers what can I do now?

    I find it a bit insulting that noone ever bothered contacting me or any other clients regarding this issue. Did they wan't to disappear overnight without being noticed?
    Agreed. I've noticed the decline in network speed as well. I'm reserving my judgement on this though, until we get some kind of official word from cabalstudios or Jeff.
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  30. #30
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    Originally posted by rastoma


    Maybe Jeff never told Imran since Imran just resells their servers there.
    Why would they wan't to move to a different noc then?
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  31. #31
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    I didnt believe this thread when I saw it came from the username "I hate DV2", but I called the number and it does say they filed for Chapter 11... I hope Jeff posts here soon... I took my servers out of the DV2 datacenter a while ago, but I'm still concerned for them... Jeff, Shazad, and Imran are all good people, I hope everything's OK.
    Last edited by FDrive; 08-01-2002 at 01:19 AM.
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  32. #32
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    Many companies do file for Chapter 11, for various reasons. But, Jeff is the only one that can explain it.

    From what I understand of Chapter 11, it allows the company to reorganize it's debts. While still being able to pay it's employees, and to continue doing business.
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  33. #33
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    Originally posted by Myacen


    Why would they wan't to move to a different noc then?
    This is true.... that even occured to me a few messages ago but I thought I'd give Imran the benefit of the doubt
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  34. #34
    Me and one of our employees have been talking to DV2 about this a few days ago. While they did file for bankruptcy, they will not be ceasing operations. Filing for chapter 11 doesn't mean you're going to close down, but it does offer companies a protection. Is WorldCom ceasing operations? No.

    Think before you talk and act ...and don't panic.
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  35. #35
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    Thanks for the confirmation again Marc on the financial problems of DV2, disapointing really... I actually wanted to see them propel into the statos.
    dotGig
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  36. #36
    Heres my guess on what happened,


    They had illusions of grandeur of selling many many servers, were locked into big bandwidth agreements, T3s, oc3s, for several providers for 2 years.

    The Leased lines were totalling up to more then thye can pull in from selling $99 server, their data center rent is also skyrocketing,

    so

    Several t3 lines($30-50k) + Datacenter rent ($5-10k) + Several employees + Another expenses

    When you sell $99 servers and make $30 profit off of each, you will go bankrupt.

    They now have too much expenses but are still locked into those t3's and oc3 contracts for 2 years since they wanted a discount (providers lock you into long contracts and give you discounts)


    So now they file chapter 11 to get out of it.

    Hmm, I think I'm good.

    Yeah? No? Give me your opinions
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  37. #37
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    DV2 is relatively large. Maybe this will serve as a sort of a warning to other providers.

    Its high time that bandwidth was expensive for the consumer again.
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  38. #38
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    I read somewhere that some companies have used Chapter 11 to get out of long term bandwidth contracts. E.g. ones, from when bandwidth was horridly expensive.
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  39. #39
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    Originally posted by mrbling
    Heres my guess on what happened,


    They had illusions of grandeur of selling many many servers, were locked into big bandwidth agreements, T3s, oc3s, for several providers for 2 years.

    The Leased lines were totalling up to more then thye can pull in from selling $99 server, their data center rent is also skyrocketing,

    so

    Several t3 lines($30-50k) + Datacenter rent ($5-10k) + Several employees + Another expenses

    When you sell $99 servers and make $30 profit off of each, you will go bankrupt.

    They now have too much expenses but are still locked into those t3's and oc3 contracts for 2 years since they wanted a discount (providers lock you into long contracts and give you discounts)


    So now they file chapter 11 to get out of it.

    Hmm, I think I'm good.

    Yeah? No? Give me your opinions

    I really think you guys should first give Jeff a chance to explain before jumping to conclusions.

    Try and remember there is more to DV2 than just the server end. There is also a telco and DSL provider. I have been lead to believe it is the Telco DSL arm that has filed Chap 11 the dedicated server area has not.

    Hopefully when Jeff gets on line again he will post and clear it up a little more.

    I don't think wild guesses and speculation is going to help at all until then.

    my 0.02 cents.
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  40. #40
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    I knew this was coming. I hope everything turns out good for Jeff and DV2. He is a good guy.
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