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perezoso
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June 04, 2014, 10:44:09 AM |
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I don't see anything substantial here. They took the whole 21 days and did nothing so far, basically.
It's my understanding there are negotiations behind the scenes. |
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cedivad
Legendary
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Activity: 1176
Merit: 1001
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June 04, 2014, 12:24:42 PM |
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It's my understanding there are negotiations behind the scenes. I never doubted that, but those negotiations should have resulted in something that we mere mortals can read by now. And no, I don't like the idea of being excluded by those negotiations. Everything could be happening as far as I know. |
My anger against what is wrong in the Bitcoin community is productive: Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)Hashfast.org - Wiki for screwed customers |
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pmorici
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June 04, 2014, 02:51:34 PM |
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They were served the 13 of May, so this is the twenty-first day...
Is there any news about what will happen to HashFast LLC? Apart from the judge saying that he expected it to be putted into bankruptcy as well, I haven't seen anything written.
Okay, so they moved to convert to Chapter 11. So at least that's finally completely settled. They will go into Chapter 11. But no plan yet. They say they have over 1,000 people to notify in case - presumably mostly creditors - and are asking the judge to allow them not to notify everybody of everything. They want to limit notice to the court, the lawyers, the companies and people who are named in the suits that have been filed (the "creditors mailing matrix"), its 20 largest creditors, and various government agencies with an interest. Just sayin'. I'm pretty sure anything important will appear here. I am not sure that means what you think it means. Let me check. I would assume they only want to make public the top 20 but everyone needs to be informed in these cases so they can exercise their rights to vote and appoint a committee to represent their interests. Maybe I missed something but seems to me that the Delaware based Hashfast is notably missing from any mention in these documents. |
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perezoso
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June 04, 2014, 05:26:14 PM |
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Maybe I missed something but seems to me that the Delaware based Hashfast is notably missing from any mention in these documents.
That's a good point that should be clarified. |
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starsoccer9
Legendary
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Activity: 1630
Merit: 1000
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June 04, 2014, 07:51:38 PM |
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Just to confirm, so they are going into chapter 11 which basically means what?
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Entropy-uc
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June 04, 2014, 08:14:35 PM |
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Just to confirm, so they are going into chapter 11 which basically means what?
It means they are trying to reorganize and continue the business as an ongoing enterprise. They need to file a plan on how they would do so, and how they would fund themselves in the interim. We were expecting to see that yesterday but they seem to have failed to file anything of substance. |
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Airwhale
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June 04, 2014, 08:16:50 PM |
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http://en.wikipedia.org/wiki/Chapter_11,_Title_11,_United_States_CodeThey are reorganizing their busness, while maintaining their possesions 1)They do not have to sell everything and divvy it up to creditors 2)They can acquire new loans without paying the old ones off. 3)They are protected from some other litigation 4)They have to propose a plan within 120 days. Interested creditors can also submit plans. Then any creditors who are interested can vote on a plan.
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DPoS
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June 04, 2014, 09:01:56 PM |
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Just to confirm, so they are going into chapter 11 which basically means what?
it means instead of mining you get an education in bankruptcy laws... perhaps that will pay off more in the end |
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pmorici
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June 04, 2014, 10:09:37 PM |
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We were expecting to see that yesterday but they seem to have failed to file anything of substance.
Par for the course from them unfortunately. |
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HardwareReviewer
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June 04, 2014, 10:09:54 PM |
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Just to confirm, so they are going into chapter 11 which basically means what?
it means instead of mining you get an education in bankruptcy laws... perhaps that will pay off more in the end  |
Prepare to enter a world of stress
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jjiimm_64
Legendary
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Activity: 1876
Merit: 1000
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June 05, 2014, 02:04:51 AM |
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Does anyone know if customers due refunds are still due money after a chapter 11? or do the little guys just stiffed.
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1jimbitm6hAKTjKX4qurCNQubbnk2YsFw
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minternj
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June 05, 2014, 02:41:57 AM |
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You become a creditor. sucks.
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jjiimm_64
Legendary
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Activity: 1876
Merit: 1000
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June 05, 2014, 02:45:33 AM |
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You become a creditor. sucks.
better than a poke in the eye! |
1jimbitm6hAKTjKX4qurCNQubbnk2YsFw
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Minor Miner
Legendary
Offline
Activity: 2282
Merit: 1012
Be A Digital Miner
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June 05, 2014, 04:03:20 AM |
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You become a creditor. sucks.
better than a poke in the eye! you will become a creditor and you can PM entropy_uc to get information on what you should do to make sure your refund request becomes a registered "claim" against the company. It is not that complicated and does not require that much effort to ensure you get a fair part of any settlement of the claims. |
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armyof1ne
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June 05, 2014, 02:11:21 PM |
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You become a creditor. sucks.
better than a poke in the eye! you will become a creditor and you can PM entropy_uc to get information on what you should do to make sure your refund request becomes a registered "claim" against the company. It is not that complicated and does not require that much effort to ensure you get a fair part of any settlement of the claims. only if there is a settlement, beware of signing up with any lawyers, sadly alot of small players will probably have to end up owing the lawyer in the long run due to fees, or get little to nothing back. once the restructuring is completed and minimal sales increase(if any) there might be a chance at reconciliation but sadly, because the involuntary doofs decided to make a decision for everyone, we have to sit a long time to wait for our money, and still probably not get it. |
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Minor Miner
Legendary
Offline
Activity: 2282
Merit: 1012
Be A Digital Miner
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June 05, 2014, 02:59:49 PM |
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You become a creditor. sucks.
better than a poke in the eye! you will become a creditor and you can PM entropy_uc to get information on what you should do to make sure your refund request becomes a registered "claim" against the company. It is not that complicated and does not require that much effort to ensure you get a fair part of any settlement of the claims. only if there is a settlement, beware of signing up with any lawyers, sadly alot of small players will probably have to end up owing the lawyer in the long run due to fees, or get little to nothing back. once the restructuring is completed and minimal sales increase(if any) there might be a chance at reconciliation but sadly, because the involuntary doofs decided to make a decision for everyone, we have to sit a long time to wait for our money, and still probably not get it. You are completely incorrect and should stop posting about things you know nothing about. No one has any need to pay a lawyer to file a claim. We have paid, out of our own pocket for the filings etc. Now, as Hashfast enters bankruptcy and a US Trustee is appointed everyone registers in the case and is represented by the Trustee and the committee. That does not cost them anything. You are a idiot if you think a company that was trying to sell off all its assets (see TWO sworn affidavits from two separate people that were offered the assets that are filed with the court) and get a piece of the action while leaving creditors with nothing WAS somehow going to "make us all whole". Post your invoice or shut up. You have no idea about anything. BTW, wikipedia is not one of america's best law schools. |
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ninjarobot
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June 05, 2014, 08:55:54 PM |
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You become a creditor. sucks.
You become an unsecured creditor so you will be at the very end of the line. Your chance to recover anything meaningful will be next to 0. Sucks. |
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Entropy-uc
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June 05, 2014, 08:59:18 PM |
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You become a creditor. sucks.
You become an unsecured creditor so you will be at the very end of the line. Your chance to recover anything meaningful will be next to 0. Sucks. It's doubtful at this point that there are any secured creditors. There is also a spectacular number of bitcoins collected by Hashfast that blockchain analysis suggests are still controlled by Hashfast or related parties that could be recovered by the bankruptcy trustee. We are optimistic at this point. |
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armyof1ne
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June 05, 2014, 11:02:07 PM |
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You become a creditor. sucks.
better than a poke in the eye! you will become a creditor and you can PM entropy_uc to get information on what you should do to make sure your refund request becomes a registered "claim" against the company. It is not that complicated and does not require that much effort to ensure you get a fair part of any settlement of the claims. only if there is a settlement, beware of signing up with any lawyers, sadly alot of small players will probably have to end up owing the lawyer in the long run due to fees, or get little to nothing back. once the restructuring is completed and minimal sales increase(if any) there might be a chance at reconciliation but sadly, because the involuntary doofs decided to make a decision for everyone, we have to sit a long time to wait for our money, and still probably not get it. You are completely incorrect and should stop posting about things you know nothing about. No one has any need to pay a lawyer to file a claim. We have paid, out of our own pocket for the filings etc. Now, as Hashfast enters bankruptcy and a US Trustee is appointed everyone registers in the case and is represented by the Trustee and the committee. That does not cost them anything. You are a idiot if you think a company that was trying to sell off all its assets (see TWO sworn affidavits from two separate people that were offered the assets that are filed with the court) and get a piece of the action while leaving creditors with nothing WAS somehow going to "make us all whole". Post your invoice or shut up. You have no idea about anything. BTW, wikipedia is not one of america's best law schools. Please tell me what you just said invalidated everything i wrote, yeah... burn in a fire dumbass |
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Entropy-uc
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June 06, 2014, 01:58:57 AM |
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Please tell me what you just said invalidated everything i wrote, yeah... burn in a fire dumbass
You seem to be awfully butthurt over the bankruptcy, which is strange because every customer who has talked to me has been happy with what was done. You claim to have a lawyer, but you haven't been in the creditor conference calls. Why don't you man up and join the adults in trying to recover what we can from this scam? Unless you're just Eduardo using another sock puppet. |
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