The company behind internet news site Unilad should go into administration, a judge has decided.
Judge Clive Jones made an order on Thursday after being told that Bentley Harrington Ltd owed more than £6m.
The judge had analysed evidence at hearings in a specialist Insolvency and Companies Court in London.
He heard that a creditor and company directors agreed that administrators should be appointed.
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The founder of Unilad has taken legal action against current bosses.
Alex Partridge said he was owed £5m, promised as part of an agreement, and argued for the company to be placed into administration.
A barrister representing Partridge told Judge Jones that Bentley Harrington also owed the taxman £1.5m.
The judge was told that HM Revenue and Customs officials were not against administrators being appointed.
Lawyers representing Bentley Harrington had initially argued against administration. But they said on Thursday that bosses were now in favour.
The judge was told that a number of investment proposals were on the table and a lot of people were interested in the company.
Bentley Harrington director Liam Harrington had been at a hearing last week but was not in court on Thursday.
HM Revenue and Customs officials have issued a petition to wind up Bentley Harrington in separate litigation.
A judge is due to analyse that application on 31 October.
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