The industry has been talking this morning about bankruptcy notices received from the US Bankruptcy Court that includes the entity “Neverblue Communications Inc” as listed in the bankruptcy. Since the Bankruptcy filing of Velo Holdings, many companies have been concerned that they would not be paid by Neverblue. However, despite the bankruptcy, Neverblue reported that they would be operating as usual, and as a non-US subsidiary they would not be included in the bankruptcy and could pay all affiliates.
So when these notices started showing up this week, people were rightly concerned that they weren’t being told the truth. We contacted Neverblue this morning, and they informed us that Neverblue Communication Inc was not the Neverblue of Canada, that operates the well-known affiliate network, but instead was the operating name for affiliate network AKMG, out of California.
Also listed, besides Neverblue Communications is several other companies in the industry included in the bankruptcy including FYI Direct, Vertrue and Adaptive — all large purchasers of leads on many CPA Networks. This leaves many networks concerned that they will not be paid, or paid in part for money currently owed.
The Bankruptcy notice is below, with “Neverblue Communications” (AKMG) clearly mentioned as a co-debtor, and included int he bankruptcy of Velo Holdings on the second page and is included in the bankruptcy. It is recommend that anyone owed money speak to their attorney.