Cointerra mining contract - no payout yet

[MichaelNZ]

My cointerra mining contract has not paid out yet ... at time of writing that makes it over 2 days late ...

Anybody know anything ?
Given the failures, the hacks, the Ddos's, general bollocks lately and cointerra's history

Update: Still no payout and no word yet from CT ... A black mood to end the year
Update 230 Dec 8:47am NZST ... Email from CT ...
Thank you for contacting CoinTerra.

Our offices will be closed for the Holidays from December 24th till January 5th.

We will respond to your email when we return.

Best regards,
CoinTerra Support

Thank you for contacting CoinTerra.

Your request (27711) has been received and is being reviewed by our support staff.

To add additional comments, reply to this email.

How lovely for them ... It would have been nice to know they were going to close beforehand ... and ... How does that affect an automated payout system ?
Did their IT systems go on holiday too ?
This is typical of CT, their customer service has been crap since they first started.
I cannot stress strongly enough to steer as clear as possible from them ... Do not deal with them ever !

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[MichaelNZ]

UPDATE
7th January 2015 and still no reply to my email to CT and still no payout either !!
That's now 2 weeks in a row they haven't paid. It's starting to look likely they have collapsed.

Has anyone heard if they've gone bust ?

[newIndia]

What is cointerra ?

[MichaelNZ]

What is cointerra ?

They are a hardware designer and reseller that moved to offering 12 month mining contracts when their hardware wasn't as good as they promised.

STEER WELL CLEAR OF COINTERRA !!

[Dilemma]

i hear this system first time
a lot of mining company is living in bitcoin world
must be carefully when we choose one of them..

[MichaelNZ]

The end of Cointerra ?
This email from them today ...

Hello Michael,

Thank you for contacting CoinTerra.

Our legal department has provided the following:

    “The company has defaulted on its secured notes. The Note Holders have senior, secured and, we believe, perfected liens on all of CoinTerra's assets, including servers. We have proposed a plan to the Note Holders. However, at this point we do not know how they are going to react to our proposal. The Note Holders are evaluating their options. Until this is resolved, CoinTerra will be unable to make further payments.”

What this means is that we cannot issue any payments to customers at this time. Rest assured we will let you know if this situation changes or if there are any relevant new developments but, for now, we have no further information.

Best regards,

Laura
CoinTerra Support Team