<pirateat40> Bitcoin Savings & Trust has hereby given notice of default to it's account holders.
<pirateat40> At his time, all Pirate Pass-Thru operators are required to submit a list of their sub-accounts including; balance, forum / IRC name (or any other way of linking and confirming the account) and Bitcoin withdraw address. Payments will be processed directly by Bitcoin Savings & Trust to Pirate Pass-Thru sub-accounts upon verification and cleared of any outstanding conditions.
<pirateat40> Payments will be processed directly by Bitcoin Savings & Trust to Pirate Pass-Thru sub-accounts upon verification and cleared of any outstanding conditions.Payments will be processed directly by Bitcoin Savings & Trust to Pirate Pass-Thru sub-accounts upon verification and cleared of any outstanding conditions.
<pirateat40> Principal and interest payments are subject to review.
<pirateat40> No timeline or further information is available at this time.
Is there already any solution for the forced buy back when pirate likes to pay out directly?
What if for example i do buy BIB.Pirate Fonds now?
Will i get the par value when pirate pays back?
Did you already send him a list?
Goat and Nefario have spoken about this in the tygrr.bond-p thread and bond issuers (Goat in that case, Brendio in this case) do not have access to the full list of who owns what and Nefario is neither legally permitted (under UK law, where he's based) or willing to disclose this information. Legally speaking the thoughts (again from Goat's thread) are that the bond issuer on GLBSE is the only person who has contract with Pirate, and the only one who's information needs to be shared (and pirate of course already has all the information he should need).
As for the current state of things, so far as I can tell anyone can continue trading pirate's debt on the open market. I believe Pirate has every intention of returning something, the exact amount at this point is pure speculation (See above quote "<Pirateat40>Principal and interest payments are subject to review").
As for what Pirate returns (and if of course, there's a lot of uncertainty) I would expect Brendio to pay back what he receives from pirate (interest and possibly principle (since they'll probably be mixed somewhat) subject to his existing cut (as always per contract). For exact details you'll have to wait for him to chime in. What an unfortunate time to be busy
But such is life