For those who are interested; Goat posted a transcript of the #btcst-trust conversation:
* Topic for #btcst-trust is: "Bitcoin Savings & Trust | Update at 8:30pm CST (-5). Invite Only
* Topic for #btcst-trust set by pirateat40!~pirateat4@unaffiliated/pirateat40 at Wed Aug 29 04:13:19 2012
<copumpkin> omg it's the hypergoat
<gigavps> goat on a rope
<gigavps> o, i meant boat
<Chaang-Noi> i will be a goat from a rope soon!
<Chaang-Noi> morning all
<[\\\]> shutup goat
<Chaang-Noi> lol, what is with the morning cheer?
<[\\\]> are you not watching #btcst?
<[\\\]> [2012/08/28 19:54:58] <@pirateat40> Bitcoin Savings & Trust has hereby given notice of default to it's account holders.
<OneFixt> um what?
<[\\\]> in #btcst
<[\\\]> 4 minutes ago
<[\\\]> so pirateat40, why the gathering here then?
<Chaang-Noi> i see
<hashking> well goat I hope you sold your account
<Chaang-Noi> no, it was a joke, i did get offers however
<pirateat40> More to come.
<Chaang-Noi> ill be back in 5
<[\\\]> I suppose I'll open it up now
* copumpkin isn't selling
<hashking> open what up
<copumpkin> pirateat40: so was there something specific for the PPT people? I guess the announcement time is still 24 minutes away
<hashking> It will probably be in 21 minutes
<pirateat40> Yes, 19min
<gigavps> if this is you trolling, i'm going to fly to Texas to kick your ass and buy you some more makers 46
<copumpkin> been there done that
<patrickharnett> For the terms of the bet and various business dealings, having a clearly defined statement of default (given the time frame specified) is a very useful point to reach
<pirateat40> gigavps, lol we could get drunk and watch breaking bad.
<Chaang-Noi> that is an awesome show
<[\\\]> I've yet to watch it
<pirateat40> It just got much better.
<[\\\]> So can we skip up a few minutes?
<Chaang-Noi> i just got done with number 5
<[\\\]> its close enough to 830
<pirateat40> I thought they were dying on the 3rd episode.
<patrickharnett> I haven't seen the show - looks like it has some warm/fuzzy characters in it
<pirateat40> then it picked back up and rocks again.
<patrickharnett> make'em wait till 8:30
<Chaang-Noi> it is a good show Patrick, however the first few shows are a bit slow, but its very worth it
<[\\\]> so I better make sure my current documents up to date?
<[\\\]> I was lazy and didn't calculate this last week's interest distribution
<copumpkin> pirateat40: I am the one who knocks
<copumpkin> on wood
<pirateat40> Is everyone here that can be?
<[\\\]> (no homo)
<patrickharnett> hmm, I don't watch much tv
<[\\\]> pirateat40: BW is with his kid
<[\\\]> he wanted to be on his androirc
<[\\\]> but it kept pinging out
<[\\\]> we've got a line to him though
<[\\\]> so he'll know shortly after
<patrickharnett> We're going to relay stuff for Burt
<[\\\]> all the told you so's already
<[\\\]> and regardless of anything that's happen, bitlane is frakking nuts
<gigavps> let's get started then
<hashking> Im ready.
<[\\\]> I'm pretty certain this channel can keep a secret for 11 minutes
<gigavps> o wait, i'm supposed to say that with my other acct
* [\\\] is now known as notpirateat40
* notpirateat40 is now known as [\\\]
<Chaang-Noi> i saw the photo, you are all pirate!
<pirateat40> It's not about what it said, i just wanted the most of people here see it.
<reeses> did I wake up just in time?
<gigavps> yes, now shut up
<Chaang-Noi> yes reeses, hows india?
<gigavps> let the man speak
<hashking> we are ready again.
<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.
<patrickharnett> would you like emailed lists?
<patrickharnett> you said pm's were a pain
<Chaang-Noi> we never got the sub accounts set up, i dont understand
<pirateat40> Emailed to email@example.com
encrypted with your private key if available.
<copumpkin> your public key, you mean
<pirateat40> Chaang-Noi, bonds are going to be tricky.
<hashking> Why is it being done this way.
<[\\\]> pirateat40: balances as of when?
<gigavps> Chaang-Noi ask nefario to lock the bond and give you a list of holders
<copumpkin> we need your public key to encrypt
<Chaang-Noi> can you please explain why this needs to be done this way?
<pirateat40> [\\\], current balances
<[\\\]> copumpkin: gpg info pirateat40
<Chaang-Noi> gigavps nefario wont do that, that is public knowledge
<reeses> copumpkin: look for the one I signed
<hashking> Not sure how to use that.
<[\\\]> pirateat40: well, does that include last monday's interest?
<hashking> I have to many small accounts to try and put this together.
<pirateat40> Chaang-Noi, it's a legal thing. That's really all I can say.
<Chaang-Noi> matthew will lose his bet then
<Chaang-Noi> there is no way you will every pay us
<hashking> It would take me forever to compile my list.
<pirateat40> [\\\], the balance should include the total balance up to today at 8:30 PM CST
<Chaang-Noi> pirateat40 you know you are asking me to do something i cant.
<hashking> When is the deadline to send this to you.
<pirateat40> Chaang-Noi, I know it's not something you can do with bonds and have relayed that information but I don't have an answer for you yet.
<patrickharnett> I can have mine compiled quite quickly as the bonds can simply be repurchased and I only have three sub accounts - when would payment be?
<[\\\]> I have mine ready already
<[\\\]> its a google doc
<pirateat40> hashking, Friday by midnight.
<pirateat40> [\\\] perfect
<gigavps> pirateat40 what are the next steps beyond this?
<hashking> I can't have it done by then.
<[\\\]> seriously, a basic timeline
<[\\\]> we've been very patient, you need to give us a little something.
<pirateat40> gigavps, I don't have a timeline other than Friday at midnight at this point.
<hashking> What are you intentions. What if I can't get you the information by friday.
<Chaang-Noi> im going to have to run this stuff by my lawyer.
<Chaang-Noi> this seems off...
<hashking> For once I will agree with goat
<reeses> it's pretty standard for a default
<hashking> So then there will be no payment.
<reeses> assets have to be divided fairly
<Chaang-Noi> pirate, do you have any assets to be divided?
<patrickharnett> a list of creditors yes, but the passing on of additional information is unusual
<[\\\]> gigavps, we're over here, wrong channel
<gigavps> pirateat40 can you please explain how you are using the term default?
<gigavps> pirateat40 is there a liquidation preference or priority?
<pirateat40> No timeline or further information is available at this time.
<Chaang-Noi> pirate, can you make your lawyers phone number public? i want to have somethings confirmed.
<reeses> that might be the smart move, because you can say things now that fuck you into piercing your corp. shield
<pirateat40> Chaang-Noi, those details will be available on Friday and all communication will be by certified mail.
<[\\\]> awesome, we're being served.
<hashking> served for what.
<copumpkin> we can get served by pirateat40 and by the lynch mob
<reeses> dibs on the m5
<Chaang-Noi> i wonder if pirateat40 is working with the feds...
<hashking> imsa need you in btcfgpa.
<Chaang-Noi> i would like to talk with your lawyer before anything else happens.
<hashking> I think that is fair.
<Chaang-Noi> you have all the information you need to know
<Chaang-Noi> if you need more info you need to tell us why
<hashking> I will need a lawyers number also before I give out any information as you are the one that has messed this up.
<pirateat40> Thanks guys, have a good night.
<Chaang-Noi> giving us 48 hours to make a list or not get btc is fail...
* pirateat40 sets mode +m #btcst-trust
* #btcst-trust :Cannot send to channel