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Topic: OPEN LETTER to Donald, Patrick & Amir RE: Bitcoinica - page 11. (Read 27049 times)

hero member
Activity: 574
Merit: 500
Tihan-

Do you have any idea, after paying for this entire process, what will be left over for the rest of us?  Any idea at all would be nice.

Thanks

I don't know how to read one of these things, but it looks like it's not that bad. http://www.mvp.co.nz/media/reports/11260+Limited+(In+Receivership)/112603report.pdf

A $472 fee to recover $6,221. I like that.

Here's another example: http://www.mvp.co.nz/media/reports/Water+Systems+Treatment+Specialists+Limited+(In+Liquidation)/watersystems2ndreport.pdf

$472 fee? It's the balance that was after all fees.

$6221 recovered - 3150 receivers fees - 1380 salvage payment - 1219 legal fees = 472 balance to pay to creditors.
newbie
Activity: 14
Merit: 0
Isn't Amir tied up all weekend with organizing the London conference?

Think and take a look at the paper work and decision for 60 seconds.
print it 60 seconds (print machine needs some warm up)
sign it 3 seconds.
tell people that they have sighed and mail the hardcopy, 300 seconds.

So, it will take 423 seconds from them.
hero member
Activity: 661
Merit: 500
Tihan-

Do you have any idea, after paying for this entire process, what will be left over for the rest of us?  Any idea at all would be nice.

Thanks

I don't know how to read one of these things, but it looks like it's not that bad. http://www.mvp.co.nz/media/reports/11260+Limited+(In+Receivership)/112603report.pdf

A $472 fee to recover $6,221. I like that.

Here's another example: http://www.mvp.co.nz/media/reports/Water+Systems+Treatment+Specialists+Limited+(In+Liquidation)/watersystems2ndreport.pdf

u r gud at teh internet
legendary
Activity: 1918
Merit: 1570
Bitcoin: An Idea Worth Spending
Tihan-

Do you have any idea, after paying for this entire process, what will be left over for the rest of us?  Any idea at all would be nice.

Thanks

I don't know how to read one of these things, but it looks like it's not that bad. http://www.mvp.co.nz/media/reports/11260+Limited+(In+Receivership)/112603report.pdf

A $472 fee to recover $6,221. I like that.

Here's another example: http://www.mvp.co.nz/media/reports/Water+Systems+Treatment+Specialists+Limited+(In+Liquidation)/watersystems2ndreport.pdf
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
I'm waiting for the version of this for pirate's BTCST to happen...oh wait...
legendary
Activity: 1092
Merit: 1001
From my limited experience with liquidation lawyers here in Australia, the administrators and lawyers will rip into the carcass like hyenas by gouging the wide-eyed puppies on the sideline for the privilege of picking over the merest scraps of what was once theirs.

Good luck though.


hero member
Activity: 661
Merit: 500
Tihan-

Do you have any idea, after paying for this entire process, what will be left over for the rest of us?  Any idea at all would be nice.

Thanks
legendary
Activity: 1918
Merit: 1570
Bitcoin: An Idea Worth Spending
Reading this http://www.mvp.co.nz/profile/our-people/iain-mclennan I see no reason why he shouldn't/wouldn't look into Zhou Tong as well, seeing that he's worth his salt. That said, I like this guy.

~Bruno~
legendary
Activity: 1918
Merit: 1570
Bitcoin: An Idea Worth Spending
You should probably fly to London and place it in their hands in front of an audience.

Tihan wouldn't have to fly there at all. Whoever is attending should have three copies on their person to present to them at the conference in front of witnesses with a camera rolling for our viewing pleasure. Walmart has a sale on caramel popcorn this week and I'm planning on stocking up.

~Bruno~
legendary
Activity: 3472
Merit: 1724
I think you should at least call them / email them in case they don't browse the forums.
hero member
Activity: 868
Merit: 1000
You should probably fly to London and place it in their hands in front of an audience.
hero member
Activity: 952
Merit: 1009
Isn't Amir tied up all weekend with organizing the London conference?
hero member
Activity: 661
Merit: 500
Thank you for trying to advance this along. 
donator
Activity: 18
Merit: 0
On behalf of the Bitcoinica investors and customers, I direct this message to Donald Norman, Patrick Strateman and Amir Taaki.

Gentlemen, I do not have to remind you of the calamities that have befallen Bitcoinica since April 24. The universal dissatisfaction surrounding the events has been discussed at length elsewhere.

In your absence, Bitcoinica's investors and others have been pursuing options to minimize loss and move the refund process forward. Unfortunately, there are no efficient ways to do this without your cooperation.  

I'm writing now to ask you to support the needs of the customers.

Attached you will find a company resolution that authorizes formal liquidation under New Zealand law. As you know, your legal authorization as owners is required to take this step.

If you continue refusing to act, the only way forward is court. This will add months of additional delay and drain significant funds that would otherwise go toward repaying customers.

I thank Patrick Strateman in advance for your promise to assist the liquidator. Words are a good start. What's needed right now is action, from each of you.

It's important that you return the signed resolution before the weekend.

----



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