Here is an update on the latest discussions regarding Biscit/V21.

1. BT has not yet agreed to start the migration of Biscit/V21's customers to our network, and so there are ongoing discussions that will run into tomorrow.

2. Because of this, we cannot take over the provision of services yet.

3. We have made BT and Biscit management aware of a number of network issues related to connectivity / mail services, and they are 'dealing' with them.

4. Unfortunately, as we still do not have direct control of the customers or services, we cannot take any action and must wait to be updated by BT and Biscit on those.

As soon as I learn more, I will post the information here and on our website.

Dominic Marrocco, Internet entrepreneur and owner of the rapidly growing ISP 186k Limited, sounded grave concerns over the slim chances of Biscit’s creditors actually being paid off in full.

“We made a formal offer of £2m to the company’s administrators and outlined a plan that would keep its users online with no disruption to their services, but that was ‘stone-walled’ by all of those involved.”

“Our offer would have provided the best outcome for its many creditors, keeping everything under one roof with further cash readily available to move it forward, but it seems the administrators have taken the ‘hack-up and hive-off’ route instead.

“Creditors beware,” warned Marrocco.

Over the last 12 months many companies in the sector have hit financial problems and disappeared without trace, leaving thousands of customers in limbo with no service and – in a majority of cases - out of pocket.

“We’ve had a lot of experience at dealing with the aftermath left behind following the demise of troubled Internet providers. Even in the case of V21, whose legacy might have been the beginning of how Biscit crumbled, saw many thousands of users rescued at the last minute by our lifeline.”

Marrocco’s 186k Limited is already in advanced acquisition talks with household names in the Internet sector, and having just concluded a substantial deal worth around £20m with Iomart plc, one of the UK’s leading datacentre and hosting solution providers to build a huge national datacentre resource, the company is now boasting a stacked cash-rich war chest to drive more consolidation through the sector.