http://www.spencerfane.com/Eric-L-Johnson/

T: (816) 292-8267
F: (816) 474-3216
ejohnson@spencerfane.com


Eric L. Johnson Partner




Eric Johnson is a partner practicing in the Financial Services Group. His practice involves representation of trustees, creditors, debtors, committees, and other interested parties in bankruptcy, receivership, workout, collection, and other related insolvency matters. Eric also represents the various litigants in insolvency related litigation, including bankruptcy avoidance actions. Eric is board-certified in business bankruptcy by the American Board of Certification.*

Eric has a strong commitment to the bar and legal education. In addition to being a frequent speaker on insolvency related topics, Eric is currently serving or has served in the following capacities:

American Bankruptcy Institute Bankruptcy Litigation Committee, Membership Director (2014-present)
Kansas City Bankruptcy Bar Association, President (2011-2013), Board Member (2011-present)
Midwestern Bankruptcy Institute, Advisory Board Member (2010-present), Co-Chair (2014-present)
Missouri Bar Commercial Law Committee, Co-Vice Chair (2013-present)
Missouri Bar Commercial Law Committee, Receivership Subcommittee Member (2013-present)
United States Bankruptcy Court for the District of Kansas, Bench Bar Committee Member (2004-2005) and (2012-2014)
United States Bankruptcy Court for the Western District of Missouri, Advisory Board Committee Member (2014-present)
Since 2010, Eric has been listed in The Best Lawyers in America for Bankruptcy and Creditor-Debtor Rights Law and Bankruptcy Litigation and in the Kansas City Business Journal’s “Best of the Bar” as well as being listed as a Missouri and Kansas Rising Star for 2009, 2011-2013 by Super Lawyers.

Eric received his bachelor's degree in political science, with highest honors, from the University of Northern Iowa. Eric earned his law degree, with distinction, from the University of Iowa College of Law. While in law school, Eric was an Articles Editor for The Journal of Corporation Law and authored “Waste Not, Want Not: An Analysis of Stock Option Plans, Executive Compensation, and the Proper Standard of Waste” that was published in The Journal of Corporation Law’s Fall 2000 edition.

Eric is licensed to practice law in Missouri and Kansas, the federal district courts in Kansas, Colorado, Nebraska, and the Western and Eastern Districts of Missouri, as well as the Eighth and Tenth Circuit Courts of Appeals.

*The American Board of Certification’s Business Bankruptcy certification program is accredited by the American Bar Association. Neither the Supreme Court of Missouri nor the Missouri Bar reviews or approves certifying organizations or special designations. Colorado does not certify attorneys or specialists in any field.


AREAS OF EMPHASIS

Bankruptcy Litigation
Secured and Unsecured Creditor Representation in Bankruptcy and Receiverships
Bankruptcy Trustee Representation
Out of Court Workouts
Collections and Foreclosures
Bankruptcy and Reorganization for Businesses and Individuals (non-consumer)  

can some one please post a picture of their Monarch... I will like to see prof customers are receiving the rigs?
Thanks

I am bump this bcus ... I am hearing complaints concerning Cryptsy... Please let us know ur concerns?

http://www.coindesk.com/ftc-butterfly-labs-held-back-shipments-illicit-mining/


New court documents filed by the US Federal Trade Commission (FTC) against Butterfly Labs allege that the manufacturer mined bitcoins using customer-purchased equipment prior to shipment.

The documents, filed on 27th September, further allege that Butterfly Labs employees mined bitcoin for personal gain using machines purchased and later returned to the company. The agency says this assertion is supported by the testimony of several former employees.

As a result of the findings, the FTC asked a Kansas City federal judge to impose a preliminary injunction on Butterfly Labs that would extend the temporary restraining order it filed earlier this month. The company will now be controlled by a court-appointed receiver.

The official document reads:


“[Butterfly Labs] misrepresented the delivery and profitability of the BitForce machine, and then made the same misrepresentations to induce consumers to purchase the Monarch, and did so yet again to sell their cloud mining services. They should not get a fourth change (or a fifth chance, in the case of one of the defendants).”

According to the 17-page filing, Butterfly Labs exhibited a “repeated pattern of advertising new and allegedly innovative equipment” and failed repeatedly to deliver on its claims, so closing the company is necessary on these grounds.

The news comes just one week after the manufacturer was shutdown by the US government amid accusations of fraud and public misrepresentation. The FTC was earlier given permission to seize the company’s assets and close its operations pending a formal trial.

Butterfly Labs subsequently alleged that the FTC overreached in its decision to close the company’s operations, suggesting it was in the process of issuing customer refunds – though these refunds would not negate its law violations.

The FTC strongly rebutted these claims in statements to CoinDesk, asserting it acted in the best interests of consumers.

At press time, Butterfly Labs indicated that it would be issuing official comment on the developments later today.

Mining for profit

The FTC alleges that Butterfly Labs was slow to complete the product of its mining units, and that when it did so, it conducted a process known informally as ‘burning in’ wherein equipment was tested and the bitcoins mined as a result were kept for company gain.

One former employee, the FTC said, suggested Butterfly Labs would conduct this process with 500 mining machines operating in three separate ‘burn-in rooms’, meaning as many as 1,500 were in operation in total. Another said that such testing went on for two days – a process that should have taken only 10–30 minutes.

Statements from at least one employee suggest that Butterfly Labs knowingly conducted this process to boost its bottom line. The document reads:


“One employee inquired with company management as to why they chose to test by mining rather than using the test-net, and was told that the company would not make any money using a test-net.”

The FTC claims that no Butterfly Labs customer ever received products on the shipping date originally advertised. In addition, despite the company’s claims that it provided a “full product shipment or refund” to customers who ordered between 9th August and 9th November 2013, Butterfly Labs has not provided supporting evidence to this claim.

Deceptive promotional practices

The FTC went on to suggest that Butterfly Labs used deceptive promotional practices to encourage consumer investment in its products.

According to the agency, defendants also posted a mining return-on-investment (ROI) calculator to the company’s social media profiles, encouraging potential buyers to use the tool to measure the potential profitability of its mining rigs. It dismissed Butterfly Labs’ assertions that it was not responsible for such representations as it did not create the calculator.

Questioning Butterfly Labs’ original estimates about the capabilities of its mining hardware, the release stated:


“A former employee’s declaration asserts that the BitForce Mini-rig had less handing power and consumed more electricity than advertised.”

The FTC also attacked the company’s claims that Butterfly Labs had a “reasonable basis” for the original representations of the estimated delivery dates for their mining rigs.

Further, it suggested that is has firm legal footing to assert that Butterfly Labs could be liable for failing to deliver on its advertisements, citing past precedent.

“The law is well-settled that the FTC need not prove that defendants acted with intent to defraud or in bad faith to prevail,” the statement said.

found something

http://www.kansascity.com/news/business/article2295832.html#/tabPane=tabs-aed136ef-1


A federal judge Monday morning recessed a hearing over control of area bitcoin company Butterfly Labs so attorneys could talk about a plan for it to resume business.

U.S. District Court Judge Brian C. Wimes said in court that a receiver he appointed earlier this month had worked on a plan for the Overland Park company to move forward. Attorneys for both sides praised the plan without referring to any of its details.

“What if we have a plan that’s acceptable that’s a business plan,” Wimes asked the attorneys for both sides.

Wimes then adjourned the hearing and attorneys took up their talks in a small conference room. The discussions later moved outside the court room.


The U.S. Federal Trade Commision had requested a receiver, charging the company had defrauded more than 20,000 consumers for between $20 million and $50 million. The company denied those charges and was in court Monday to regain control.

Butterfly Labs sells computers that buyers can use to earn bitcoin, a virtual currency that lacks government backing but is accepted by its followers in lieu of other government currencies.

During the hearing, talks appeared unlikely after Wimes asked a Butterfly Labs’ attorney why the company was not in discussions with the FTC.

“The FTC called us ‘scammers’ and ‘bogus’. There’s nothing to talk about if that’s their position,” said James Humphrey, who represents the company.

The hearing began with Wimes extending his order that put control of Butterfly Labs under the receiver. The order now runs through Friday.



To reach Mark Davis, call 816-234-4372 or send email to mdavis@kcstar.com.

Read more here: http://www.kansascity.com/news/business/article2295832.html#storylink=cpy

Any Updates concerning Butterfly Labs Hearing... Please let up know

Thanks

Soniq, is on the run :!(

This dude ! HA!

Thanks for the update.

Butterfly Labs wants YOU to File YOUR Concerns and YOUR "Appreciation"  To: eljreceiver@spencerfane.com ... Please direct YOUR LOVE and your concerns to them


For the poll you can vote up to 3 times


spencerfane.com

OMG look what the Troll brought in LOL ... Braaa! are YOU delusional? ... You think this whole scam is a small thing? ... wow ... The fed's bring down your operation and your just like..."what ever man... ill show you who has the last laugh" ... Your DELUSIONAL boy...



I hope your cellie cuddle's YOU    

+1 what up waldo

Josh aka Inabobo, keeps taps on all of us... LOL ... BUT in 2weeks he'll have to watch out for all the gangster trying to cuddle with him LOL

ohhhhhhh poor poor babe... are you sucking on your Toe... or wait ...Little Joh will make u drop the soap ...lets see what happen in two week Inanbobobobobbobobobo

These are the idiots representing BFL and Josh... Ha! Josh is about to get scammed by real professionals scammers HAHAHAH!



http://www.spencerfane.com/

on BFL website they have an email and phone number to an attorney Can some one please check it out and let us know why???
http://butterflylabs.com/
eljreceiver@spencerfane.com
spencerfane.com
816-292-8316

Looks like the article has been updated with a little more info:

UPDATE 11:17am CT: Helen Wong, an FTC attorney, told Ars that all three principals had been served with the lawsuit and that no arrests were made. The USMS, she said, was present to "keep the peace."
Initially, she explained, the case was sealed to prevent BFL from moving money around (or, in government parlance, to prevent "asset dissipation").
BFL is no longer in the hands of its principals but rather under a temporary court-appointed "receiver," a situation which will last until Monday, September 29. On that date, the judge can choose to extend the receivership or cancel it.
"The court granted the FTC's request to put the company under a temporary receivership," Wong said. "Basically everything is under the control of the receivership. The order allows us to locate documents and assets. The receiver has temporary custody of the company; everything is under his ownership until or unless the court decides otherwise."
Wong also noted that in this action—the FTC's first involving Bitcoin—seeks "full consumer redress," which, if successful, would result in refunds payable in US dollars.

http://www.ftc.gov/news-events/press-releases/2014/09/ftcs-request-court-halts-bogus-bitcoin-mining-operation

LOOOOk who's not talking NOW... its time for some answers Boy

+1 Please do so!:)

+1
I was looking for it cant find it