Fan-funded music firm SellaBand has filed for bankruptcy in a Dutch court, but claims it’s on the verge of a comeback. Amsterdam lawyer Paul Schaink has been appointed as trustee, and has announced that “apart from a few technicalities, the completion of a transaction with a potential buyer of the business, is to be expected soon, in order to make a fresh start, safeguarding both the rights of Believers and Artists”. SellaBand’s business model – which involves money held in escrow until artists reach their targets – means there are plenty of fans and bands following the situation closely to see what happens to the cash. Source: Music Ally Blog

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