Umm wasn't Tihan fired at one point by the "Wendon Group" ? In the leaked emails he is very much claiming to be so. In light of that I don't really see how you guys can take anything he says at face value.
@Tihan: indeed clarification needed. Are you still acting on behalf of the Wendon Group?
I emailed with Tihan on July 29 and he addressed some of these questions, so I hope he does not mind me sharing his clarifications here:
The idea that I've been fired is one of many false rumors perpetuated by the Consultancy. This disaster will negatively impact my livelihood. However, I have not had a "boss" since 1999
Wendon Group is an investment fund -- an inanimate pile of dollars. It does not have the ability to 'care' about Bitcoinica customers. I can and do. The return of funds to customers has been my first priority since the theft.
Tihan really seems to be acting in the best interest of Bitcoinica customers here. Of course; time will tell, but at least I have some hope again.
Thanks for this.
Now that 15k BTC is with MtGox (where is the rest? wasn't disclosed if there was still any in cold storage or if all of it was on mtgox), I'm curious about the further role of Patrick Murck. Hopefully zhoutong is still working with him on getting the rest of the funds from Chen Jianhai, BTC and USD.
Acting in its capacity as creditor to Bitcoinica LP, the Wendon Group investment fund will appoint a receiver under New Zealand law. This has been an option of last resort which is now unavoidable. Under receivership, a licensed and insured specialist will replace the Consultancy as the designated authority. Upon satisfaction of secured creditor interests, the company will proceed to liquidation in which remaining funds are distributed. Without Consultancy cooperation, this is the only ready way forward.
Is there any possibility for Patrick Murck to meet the requirements of New Zealand law, so that Wendon Group can appoint him as receiver? Maybe Mr. Murck is willing to handle the claims process, and Bitcoinica Consultancy could hand over all the filed claims and their work on separating the valid from the fraudulent.
Tihan, you also previously stated that the fund would be proceeding with legal action against the Bitcoinica Consultancy. Is the fund still planning to do that?