Quote from: repentance on November 22, 2012, 04:54:29 AM

Quote from: augustocroppo on November 22, 2012, 03:06:53 AM

Quote from: repentance on November 21, 2012, 10:15:07 PM

It is a waiting game right now, but the fact that they're upgrading the MrBitcoins site suggests that they intend to keep operating that business - something they would not be able to do if the company is insolvent. There is no indication that they're planning to shut down MrBitcoins and the notice about upgrading the site is new - it's been posted since the announcement of the CryptoXchange shut-down.

I guess we all just wait and see what upgrades are made to the MrBitcoins site (this is supposed to be done by 26 November) and whether payments start being processed over the next couple of weeks.

How do you know that and who is "they"?

How do I know what? Their upgrading of the Mr Bitcoins site implies that they intend to keep operating that business. Otherwise, why not a shut-down notice on that website as well. KenseyCol operates both CryptoXchange and MrBitcoins (as well as a few other businesses). If they are insolvent, they can't legally continue operating any of them. I'm not only in Australia, but I'm in the same state as the operators of CryptoXchange. I spent over 30 years working in business administration - I'm well aware of the duty directors of Australian companies have under the Corporations Act to prevent insolvent trading (s 588G) and the penalties for breaching that duty ( s 588G and s 1317G). In addition to the statutory obligation to prevent insolvent trading (which allows for both civil and criminal penalties) a common law obligation also exists.

While there are circumstances under which a company in financial trouble can continue to trade, it requires the appointment of an administrator and companies which are under administration must disclose that fact and the administration must be reported to ASIC. The ASIC register is showing no record of any type of insolvency (voluntary or otherwise) for KenseyCol.

In fact, KenseyCol registered yet another business in July this year.

https://connectonline.asic.gov.au/RegistrySearch/faces/landing/bySearchId.jspx?searchId=159519687&searchIdType=BUSN&_adf.ctrl-state=zl6yve47k_22

http://www.centralwestautos.com.au/

This business is actively trading - there are current ads for their cars on places like Trading Post.

Now you can certainly choose to believe that they're running around opening new businesses while insolvent if you like, but can you see why the assertions by WME that his lawyers cannot locate them are beyond ridiculous?

Anyone taken them to small claims court yet?