Post
Topic
Board Service Announcements
Re: bitfloor needs your help!
by
repentance
on 04/09/2012, 22:27:37 UTC


Au contraire, US law is perfectly clear on the matter:

Quote
No person shall be...deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.
http://en.wikipedia.org/wiki/Fifth_Amendment_to_the_United_States_Constitution



US insolvency requirements are "due process of law".  It's up to those who don't believe that US insolvency law should be applied in this case to petition the court with on point arguments and case law supporting that assertion - the cost of defending against any such actions will come out of the bankrupt estate.  Unless USD holders can establish that they're secured or preferential creditors as defined by US insolvency law, there are no legal grounds on which they can be paid in full in preference to other unsecured creditors without the agreement of those other creditors.