Post
Topic
Board Securities
Re: [BitFunder] Ukyo.Loan - Paying 0.05% daily.
by
IPO Magic
on 10/07/2014, 22:28:52 UTC
...Its true that its possibly easy to get him sued for his loan. But i doubt that there are assets of any substantial value. Future incomes ok but rest of his life wouldnt be correct too. He simply would need to file personal bankruptcy and thats it...

An illegal, unlicensed exchange can not declare bankruptcy.  Just like a Ponzi scheme can not declare bankruptcy.  See Piercing the corporate veil.


You speak about bitfunder. Thats different from ukyo loan. Ukyo loan was a private person, ukyo, taking a debt from other private persons. Thats why you can sue him easily.

Weexchange is different. Its a company. If you sue it theres a chance it goes bankrupt and thats it for the debts. If you claim it was a scam you need to provide proof. An unregistered exchange is no scam in itself...

An unregistered exchange is not a scam in itself, but by virtue of being illegal it is not afforded the protection of teh corporate veil.  It can not enjoy bankruptcy protection any more than Dimebag Pedro could.  Again, see Piercing the corporate veil