Hi. When do you decide fail or success ?
Its already been decided. BFL has failed to produce any SC units at all, and still claim they're coming; they have clearly failed and are in default of their obligations to their investors. As the contract/policy for this insurance stated they must produce these units by the end of Oct 31st and they did not: the fail insurance will pay out.
The problem is nefario (owner of GLBSE) refuses to release the shareholder lists to asset issuers, so I can't payout until he does.
The entire pool was 38.732 BTC, so the final payout will be 0.00125 BTC per share of fail.