Post
Topic
Board Mining speculation
Re: Buying BFL debt. $0.10 per dollar owed.
by
Frankie Delaney
on 20/04/2013, 03:51:40 UTC

Without giving too much away with regards to my legal strategy, 4 people have made themselves and their personal assets liable by representing themselves as officers of the company in more than 1 country. I'm not opening myself up to scammers by purchasing their "word" that they're selling me their order. I'm not an idiot, i wouldn't make the offer, and won't issue payment without a means to recover my investment. I made that mistake with my initial BFL order, and won't make it again.

You do realise that staff are not necessarily officers of a company regardless of their inflated job titles.  If you've managed to get 4 people to admit that they're directors of BFL, then more power to you - but you still have to prove more than incompetence on the part of BFL before you can pierce the corporate veil and go after their personal assets (assuming they're not smart enough to have made their assets judgement-proof).  

The reason why such litigation is so rarely pursued is because it's so damned expensive and the prospects of recovering meaningful amounts after legal expenses are so small, especially when multiple jurisdictions are involved.


The reason why i created this offer is because i wouldn't be able to recover the value of my refunds with my own orders. Collectively, WE won't be able to recover the value of our orders. At the value i have placed on BFL debt, i will be able to make myself whole, and people who would otherwise see no return will see something which they can then re-invest, and hopefully make themselves whole. This offer won't make everybody happy, but i believe for most it will provide something from nothing, and through my efforts allow me to at least break even(if not profit, if i'm honest). Again, i don't expect any PMs today, but at some point expect to be swamped.

I have requested and received a refund for my most recent order(of many, i have re-invested my mining proceeds in various offerings as readily as i could), but believe a request for every order would spark the run that would sink BFL as it sunk bASIC.