Quote from: DeathAndTaxes on September 12, 2012, 06:35:59 PM

Quote from: ArticMine on September 12, 2012, 05:17:14 PM

Quote from: SgtSpike on September 12, 2012, 03:59:00 PM

Quote from: ArticMine on September 12, 2012, 03:52:53 PM

Quote from: DeathAndTaxes on September 12, 2012, 01:43:35 PM

So what did Vlad do that is wrong? Matt indicated he had cut including ownership of BitTalk. Guess that was yet another lie made by Matt. If Vlad uses his defaulted obligations as leverage to boost him from the company before he does anymore damage I don't see a problem with it.

Honestly I am not sure what the problem is? Matt hasn't repaid the debt because he feels nobody is in a posistion to collect. Vlad believes he is in a posistion to collect. Selling debt to "stronger hands" happens all the time, everyday, all around the world. Vlad likely wants Matt far far away from the company he is a part owner. Can you honestly blame him? Matt has already done significant damage and if it comes out later that Matt still owns a significant stake that will be another blow to the company. Obviously depsite his "apology" Matt is looking to play hardball and Vlad see his debt as a method to gain leverage. It is called "big boy business".

Also Goat posting PM publicly? Huh

They are called PRIVATE Messages for a reason. Nobody is saying it is criminal but it is downright scummy. Your actions indicate you don't care if a conversation is private you are just going to violate that privacy when you feel like it. Kinda sends a message that nobody should ever do business with you and nobody should ever tell you anything in confidence.

TL/DR: "snitches get stitches" j/k

This misses a very critical legal point. Does BitTalk and Vlad have right of offset on Matt's debt? If I were in Vlad's position I would be getting legal advice pronto. Seriously. Otherwise Matt could potentially bankrupt BitTalk over this.

Maybe I'm just a noob at this, but HOW?

IANAL
I am going use Pirateat40 as an example since unlike this case it is fairly straightforward to establish the amount of the damages in court. In Matt's case the first question that comes to mind on the other hand is: Would a court consider a scammer tag on bitcointalk.org liquidated damages in the event of a default? So it is actually a lot worse for Vlad and BitTalk.

So let us say I purchase some Pirateat40 debt at say 5 bitcents on the BTC. I spend another 5 bitcents per BTC on debt collection efforts, get Pirateat40 to settle for say 15 bitcents on the BTC without forcing him into bankruptcy for a cool 100% profit. Sounds great? Not really. Let us say the other Pirateat40 creditors force Pirateat40 into bankruptcy shortly thereafter, and his bankruptcy estate cannot pay them 15 bitcents on the BTC. The bankruptcy estate can then sue me for the 15 bitcents per BTC pre-bankruptcy settlement.

In theory but i don't see how you think it could bankrupt BitTalk. BitTalk has no liability regardless. At most it could cause a personal loss to Vlad but even that is unlikely. For those who are interested the concept is called voided debt. First (at least in the US) only payments made 90 days prior to a bankruptcy petition can be voided.

Lets say hypothetically Vlad buys up 40K BTC of Matts debt (the risk to the company is lower the more of the debt he owns). He buys Matt's share of BitTalk for 40K of debt. Note BitTalk the legal entity isn't a creditor or debtor in the situation. The sale (if any) would be between Matt & Vlad. Now hypothetically Matt files bankruptcy in the next 90 days. Technically other creditors in the bankruptcy could move to void the payment (of equity) between Matt & Vlad.

I would point out this is a legal longshot and probably not one worth worrying over. One Matt is almost certainly not filing for bankruptcy over this. No bankruptcy no risk of voided payment. Two it is very unlikely the courts would see an online gambling debt made by pseudonyms involving a virtual currency on an unregulated forum as a valid creditor in the bankruptcy. If they don't then they other bettors have no method to petition the payment be voided.

Even if those things happen (and if I was Vlad I would like my odds) the company has no liability this is just a sale of equity between one shareholder and another. The company neither gains nor loses in that transaction.

Given the limited loss even if the grossly unrealistic worst case scenario (and honestly I am not recommend anyone hold on to their debt thinking this will happen because it won't) I don't really see there being much of a realistic risk for Vlad.

Quote from: Chaang Noi (Goat) ช้างน้อย on September 12, 2012, 12:12:48 PM

Quote from: Vladimir on September 11, 2012, 03:48:26 PM

Will buy Matthew's debt. How much would you want for it?

It seems I might be in position to collect. I do not want to pay much for it (there are a few people who offering me hes debt for free), maybe will pay some very symbolic amount.

I could however promise you a percentage of whatever I might be able to collect. And I can promise that Matthew will be very very unhappy once he finds out about this debt assignment.

Quote from: Vladimir on September 11, 2012, 04:35:47 PM

Quote from: Chaang Noi (Goat) ช้างน้อย on September 11, 2012, 04:05:29 PM

I dont know what to think. What is your offer for five k?

First of all, please keep it all strictly confidential if you could.

I must mention that I am negotiating on behalf of Bitcoin Magazine (Bittalk Media Ltd).

What to offer? .... Hmmm... It is a bit unorthodox and hugely ironic... I will offer for it 12 issue subscription to Bitcoin Magazine, starting with #2.

Bold on the Chaang Noi (Goat) ช้างน้อย quote my emphasis. It is Bittalk Media Ltd, who is liable here. What we are talking about here is a corporation turning over some of its shares held in trust for one of its shareholders in exchange for some very questionable liabilities of the shareholder, without a right of offset, with multiple international jurisdictions involved and where the shareholder in question is at risk of bankruptcy! Talk about a legal hornets' nest. The legal fees to clean up this mess alone can easily bankrupt many a business start up.