1. Jon claims that the coin is there, but "unavailable." The court would explicate the meaning of that mysterious word, letting you find out WHY and FOR HOW LONG. Absolutely no reason for any form of bankruptcy.
So? And you cant imagine reasons why a court could say that it doesnt matter since the coins are unavailable and getting them back is speculative? You speak like you never checked how bankruptcies work. If a company has a debtor that doesnt pay and doesnt pay, while in the meanwhile you cant pay your bills... then the company goes bankrupt. Thats it for the company. So please dont only put your believe in this, check reality.
2. If the coin is gone, what difference does it make if the entity known as WeEx files for bankruptcy?
I dont know the details but in case weex gets sued... and driven to bankruptcy... would you buy the company to be able to get the chance to get the coins back? You would buy all debts with weex too and you dont even know for sure you get the original coins back. So would you buy the company to be able to get the coins back? If not... lets assume someone would have to pay the coins back to weex... if there is no weex anymore then the debt dies too.
Im not saying this way.
3. WeEx is an Australian-registered company, if I remember correctly. Not sure about Australian law re. bankruptcy, but in US, only chapter 7 is straightforward liquidation. The creditor would also have to petition for it. It is not automatic, and it is not "the law."
But you would force a company owner to file bankruptcy to avoid "failure to file for insolvency in due time" since thats something you can be punished for. So ukyo only has to choice to let weex life, have the chance and hope to get the coins back or being forced to file bankruptcy in order to not being charged. He could go the easy way as far as i saw, letting his trust here die completely and thats it. But he choses to try getting everything back and holding chances open.
So yes... its insolvency by law.
4. The Australian registration will be examined, laughed at, and promptly deposited into recycling bin, so it may, some day, become useful. Unless there's a more credible registration, there is no corporate entity to seek bankruptcy protection, only teh natural person, Jon.
What? Only because you believe a company isnt a real company doesnt make this true. If this would work we all had our coins back long ago. Please a bit less dreaming. A company registration is a company registration. It doesnt matter if you think a company registration is credible.
5. In the alternative, even if the business registration holds up, it offers no protection, since WeEx was not registered as a money transmitter.
So? Please ask a lawyer before being so sure about this. I think its more correct that the missing registration leads to a fee that has to be paid but the company and what it did doesnt become illegal automatically only because of that. It would be plain stupid if so. Its like you say a restaurant had a mice in the kitchen... they dont have to clear things and pay a fine if you would be the judge... no the whole restaurant would be illegal out of the sudden. Every guest suddenly had to get back his money he paid for eating and and and. Thats a dream of yours only.
TL;DR: I hope you're fronting for Jon, 'coz it hurts to think that people could be so easily conned.
I constantly try to catch him on IRC to speak with him so that i get informed about whats going on. And like i wrote... im sueing the labcoin scammer (at the moment only police investigation and private investigations) and i would have sued pirateat40 if i lost coins there. I would sue kslaughter too if i wouldnt think he only is an inept business man and not a scammer. But ukyo is different for me and thats why my unemotional decision is how it is. But believe me... im angry... it only doesnt matter. And i really really really hate not to know what happened. But i chose to be calm and trust ukyo for now. If i would act how i feel i would beat everything to pulp. Unfortunately it wouldnt help me at all.
