Topic: Bitcoinica LP (In Liquidation) form request (Read 4124 times)

I just added it on the form and added text to the effect of open positions.

How do you claim for an open position on the form? Does the total claim include the open position? Do you assume the open position is paid in BTC or USD?

ie.
 - Do 5a & 5b (the Total Cash & BTC Owed) include the open position, or are they just the collateral?
 - If 5d (Total Claim) includes the open position, the cost of my open position makes my USD balance negative (I funded the account in BTC). Is that right? Has anyone else had this issue? (eg. if I funded 100 BTC and bought +150 BTC @ 5 USD/BTC = Total claim of +250 BTC and -750 USD)

Thanks!

Awesome.  I'll have to get ahold of them by phone to confirm.  I would hate to see people accidentally not included on the list before Jan. 3

No

Did anyone receive a confirmation from the liquidators after submitting the paperwork?

Thanks for the reply.

I don't think they have access to that at this time from what they said in the report.  They said that Patrick provided them with information on outstanding balances, though, so they'll probably be able to check your claim against that.

Yes...

What do you mean by your "original claim"?  Are you talking about the claim you lodged with Bitcoinica itself earlier in the year?

Is there a way to see my original claim if I have the claim ID? Because I'm afraid I don't remember the exact numbers any more...

well at least something legit is happening. 

actually starting to trade again. took off for a long time because of bitcoinica

Well of course, it is public process.

Not to mention the fact that some refunds were processed from the reconstructed database after the hack.  Some of those refunds may well have been made by payment methods which involved people's real life identities.  Patrick provided them with a list of investor balances, remember.

We gave it to Taslim Bhamji

the real question is how did they get our real names in the first place I thought the database was destroyed in the hack?

Can't say that I am satisfied my name is out there like that either, but I rather have this progress than not knowing anything.

finally some real movements on this issue!

i am not happy with my name being publicly on their list though

This is the first time after the whole disaster that I am confident that things (slowly) move into the right direction. It seems to me that the whole thing is now in professional hands (thanks Mr. Seale!). Furthermore, it is a good sign that at least Patrick is finally willing to cooperate in order to bring this to an end.

From the financial statements (assets vs. unsecured creditors) I understand that there is some hope to recover a substantial amount of the claims. I would expect something in the area of 60%-70% of the claim. However, this very much depends on

(1) the amount of the "other creditors" position
(2) how many of the creditors will make a claim
(3) liquidation costs

Let's see....

What are the chances we'll finally get paid?

Thanks for your cooperation Mr. Strateman!



Excerpt (copied from PDF OCR / hand, bold is mine):

6. Proposed Conduct of the Liquidation

Upon our appointment, we obtained background information regarding the Limited Partnership from the solicitors of Wendon Group Incorporated, who filed the application to place the Limited Partnership into liquidation. We sent a business questionnaire to Patrick Strateman, Donald Norman and Amir Taaki, as limited partners who we understand were in control of the Limited Partnership along with a request to deliver records of the Limited Partnership. The three limited partners have all responded advising that they were not responsible for the operational management of the Limited Partnership and do not hold books or records of the Limited Partnership. Mr Strateman has however recently provided us details of the investor balances of claims which we will review prior to any distributions being made. We understand that a significant amount of information was lost during the breaches of the Limited Partnerships servers which is likely to lead to delays to the liquidation process.

We have written to Mt Gox and have requested details of the investor funds held as well as the account structure. We are still awaiting this information, which we will require in order to reconcile against claims received from investors and the information provided by Mr Strateman.

We note that some investor accounts are a mixture of foreign currency and bitcoins. We are investigating the basis upon which the Liquidators have the ability at law to refund cash and bitcoins.

We have completed our statutory obligations in respect to advertising our appointment and notifying the Registrar of Companies. We have closed the Limited Partnership’s bank account, as identified in the statement of affairs.

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