uBid.com Holdings announced that Paul Traub has been elected to the company's Board of Directors, increasing the Board size to three. Traub is an advisor to Petters Group Worldwide, LLC a principal stockholder of uBid.com.

Stuart R. Romenesko, Chairman of the Board of Directors of uBid.com stated, "I'm pleased to welcome Paul to the uBid.com Board of Directors. He has vast experience acting as a mentor to numerous management teams and has been instrumental in helping other companies evaluate their strategic direction and implement their objectives. I believe Paul's entrepreneurial spirit combined with his 30 years of legal training will be an invaluable asset in guiding the future of uBid.com."

According to the press announcement, Traub is a founding partner of Traub, Bonacquist & Fox, LLP, a New York based "boutique" firm, focusing on strategic asset acquisitions and disposition, insolvency and corporate restructuring, distressed financings, and litigation. He has served as lead counsel to creditors' committees, debtors in complex Chapter 11 cases, and in transactional work in dozens of cases representing sellers, purchasers, and creditors of financially troubled companies throughout the United States and Canada.

uBid recently announced it had acquired the assets of Bidville, another online-auction site.

http://www.auctionbytes.com/cab/abn/y06/m07/i27/s00