They can bank with as many banks they want where ever they want. I don't care. LB AND its parent company are US companies, and have been for some years. That's all I would have cared about. There are many btc companies that have banks accounts all over the world in case of problems. This being said: 1. which Bank are you refereing to because I didn't see that anywhere; 2. They did propose to put up cash upfront as part of the deal -- vanish to where? I think the DD on them was pretty thorough, the datacenters they do use are all in the US but the deal was NOT acceptable to the Creditor's council. Period. OK. Fine. If there is better, then it was the right call. 3. Who cares ? The deal is OFF the table and has been for a while now.
Can we know what is going on now? What are the propositions on the table and what is the truth of our outlooks? What better proposition do we have? Why don't we have any updates at all besides everything being Monica's fault?
LB's deal never would have went forward. The judge was angered by how it tried to take everything from the creditors. He REFUSED to hear anything more than the filing because it was so stupid. You should listen to the hearing.
Besides, if they did propose a good deal, they would have had to prove the source of their funds. Did you listen to all the testimony? They hadn't even come up with a smaller amount of money on time.
Monica is the incompetent person that has run this company into the ground over the last 4 months while she has done nothing to return it to an ongoing concern. She is now the ONE person that is holding up everything to bring in a CRO. Considering the only deal that she has come up with in 4 months is one so bad a Federal Judge would not even hear arguments on it, she should step aside quickly. More value would have been realized if they just accepted chapter 7.
Yes Minor Miner. We have read your venom against LB over and over. That too is getting old. The fact is that from what I heared from the audio tapes that is NOT what happened. LB put an ultimatum on their proposal to the court. The Judge refused the ultimatum, and didnt like that, perhaps precisely because according our creditor's council, there is NO hurry since the assets are not depreciating. I also easily found out who LB is banking with: WF and UTB (a big bank, and a small bank) IN THE US. So I have no idea where this Indian Ocean Bank thingy came from. I also re-read the LB proposition. THe fact that it was not liked is OK BY ME. I have no problem with that. What do we have today? LB answered on the forum, made their case, it was refused, end of story. WHY THE FOCUS on LB now? WHo cares? They are no longer trying to make proposal.
WHAT WE ALL WOULD LIKE TO KNOW IS WHAT ARE THE OPTIONS TODAY THAT THE CREDITORS COUNCIL HAS? It has to be meaningfull and significant with a lot of cash up --- Like CEDIVAD said to LB at the time: PUT 10million in a company upfront... I'd like to see that. I thought that the creditor's council HAD such an offer on hand. WHAT HAPPENED? What are the assets worth (TRUTHFULLY, not a valuation according to Simon Barber or Eduardo Criminal PLEASE).