[Payout Updates] Bitcoinica site is taken offline for security investigation

[Blazr]

2012-10-04
    Tihan Seale reports that a hearing has been scheduled for November 1st before the High Court of New Zealand towards the liquidation of Bitcoinica LP.

Any word on this?

[Stephen Gornick]

Any word on this?

If you haven't seen it:

As alluded to elsewhere, Wendon Group's petition to the New Zealand High Court to commence formal liquidation was approved on Nov 1. This comes after significant effort and legal expense for which Wendon Group has donated 100% of the cost.

The court appointed the principals of PKF Corporate Recovery & Insolvency to administer the liquidation. It will be their job to return funds to customers to the full extend possible. They will require the cooperation of MtGox and Bitcoinica's managing partners to accomplish this.

[2GOOD]

This seems like a time consuming task, and does this includes the coins 

[repentance]

This seems like a time consuming task, and does this includes the coins 

It will likely include the value of the coins rather than the coins themselves.  Typically, "things" or "property" are only returned if someone holds a secured interest over them.  Unsecured creditors generally receive a proportion of the value they are owed.

And yes, liquidation is a time consuming process. 

[zero3112]

For those of you who don't know yet PKFCR is the company handling the liquidation. For details please visit the thread that follows https://bitcointalk.org/index.php?topic=126847.0