James just go back to playing your video games and praying for salvation with the southern baptists.   Unless you are going put some effort in and put something together that will convince the court not to pay all the lawyers that management hired that did not act in creditors' interests, you are likely getting $0.   Maybe you will get many multiples of that amount.  
Try to act like the christian you pretend to be and watch your language.   As for being smarter than you, the hurdle you set was low.

There were negotiations in the sense that Liquidbits negotiated with Hashfast (ie: Monica, Simon, etc...).  It's just that Hashfast's idea of a "good" deal and the creditor's were different and they didn't include the creditors in meaningful negotiation.  Now that the CRO is in control he is much more likely to negotiate a deal for the creditors that the bankruptcy judge will actually approve.  I posted the CRO's contact email back a few pages in this thread.

There will be an important hearing this Tuesday. The US trustee wants to appoint a trustee and the creditors committee filed an opposition because they already put a CRO in place. The US trustee says that the CRO isn't in charge at the company (in the opposition to the opposition to the motion), while he actually should.

Bruno, you really need to take a step away from the computer.

Just because someone is CEO of a company does not mean that they started the company or have a controlling interest in the company.

List of 20 largest creditors:

http://hashfast.org/14-30725.148.pdf

http://web.archive.org/web/20140827184109/http://hashfast.org/14-30725.148.pdf

Most these names are related to HashFast of which they want to pay themselves first. Hell, I'm beginning to believe that LiquidBits didn't give a dime to HashFast, and only made a bogus claim on paper. Greg Bachrach is not listed as LiquidBits since its founding or even now, yet there he is front and center with his hand out.

http://www.scribd.com/doc/237907113/Sandgate-Technologies-PA-Business-status

http://s9.postimg.org/ujsl2slin/Sandgate.jpg

Ironically, Adam Ettinger, HashFast's former lawyer, is now on Team Sandlot.

http://hashfast.org/14-30725.170.pdf

Just because I don't throw up with my keyboard all over the forum does not mean I am not keeping tabs on what is going on.

I am acutely aware of what is / is not happening with HashFast.

You lost your way Cedivad.  Your first posts were full of justified anger and action.  Your optimism regarding the judicial system was refreshing.  Wether we were active on the forums or just lurking, I think many of us rooted for you / us. 

Overall, it seems that you overestimated the assets of Hashfast, just as you got used to lashing out too quickly.

I am not scr3.ucr3trs nor do I have any form of communication with him other than this forum. 

I simply do my homework as rigorously as I can.  I base my comments on what I find and believe to be true.

There is no doubt that the current mess has been created by Hashfast's Eduardo and Simon.  Absolutely.  They should remain the real target of our wrath. I agree with you on that.  However, regarding the Creditor's Council, I have a different position than they "worked for us" on a voluntary basis.  I think others, directly on the council are now starting to agree with this.  There were serious conflict of interests.  That is simply a fact.  Not wanting to admit that and the consequences it had, that is "not seeing beyond your nose".  Now, admittedly, this is no longer important as there is nothing that can be done about it any longer.  The reality today is what it is, and in my opinion, there's no reason to be optimistic about the outcome for the unsecured creditors.




The sad but only truth remaining is this:  The ONLY people left at HF are Simon and Eddie.  Sad.  Those that created the mess are still collecting paychecks on behalf of the creditors.  Sick.  The CRO has been in charge for a week - the website still hasn't been touched, no news, no millions of dollars of recovery.  Everyone that has tried to reach out for anyone at HF meets with absolutely no response, as is typical with the current remaining employees.  There was a severe and serious conflict of interest, and it begins also with the lawyers who are "representing" the creditors.  They don't have a clue about business reality.  Millions of dollars are gone, wasted, and now we wait a slow spiral death for nothing to happen except for the CRO , who was recommended and selected by the committee and their counsel, to collect his fees, pay the lawyers, and screw the creditors more.  Where is the plan that was alluded to weeks ago?  There is no "secrecy" now that HF management isn't negotiating any more with the committee?  Where are all the sales that were promised now that management is no longer in charge?  Why not post what the CRO has accomplished over the past week, and how much progress has been made and what it has cost?  The silence is deafening. 

Wow!!!  Really?  No longer an issue?  Hands wiped clean? All forgotten? That easily?  Seriously?  Sadly: probably correct!

Why aren’t we all appalled by the Creditor's Council decisions over the past few months?  It is highly unlikely that such mismanagement, followed by targeted misinformation by family relatives of a lead member of the Council, is caused by simple incompetence or lack of experience.  There is indeed a compelling argument to be made for voluntary sabotage motivated by glaring self-interest.  After having actually read the transcripts, blaming the CFO of a few months (Monica) for everything that has transpired is as absurd as it is unjustifiable.  It was very likely an intentional diversion. 

The truth should emerge ultimately, but it will very probably be way too late for creditors (or anyone) to do anything about it. 

Scammed by Hashfast, and screwed by their Council will likely be Hashfast creditor's epitaph.

This facade is just going to go on and on and on until there is nothing left to liquidate as the chips will be become worthless... IMO the best way forward is for the new CRO or whom ever to agree a sale over the remaining inventory, tangible and intangible and then do HF to pay back the creditors what ever they can get.

Question is who's gonna buy the chips? Who's gonna buy the IP? Is anyone actually proactively looking for a buyer? What we waiting for?

The only concrete 'plan' was to get a CRO or a trustee so we could perhaps begin to do some of those things.  The committee has no control over anything.  They can suggest things or object to things that are clearly bad that is about it.  Up until now all the suggestions the committee made to the HF management were ignored.  That is why we needed a CRO.

There's no "secrecy" there just isn't anything to report because nothing has happened.

You are ONLY NOW getting to the first days when someone other than HF has control over the delays.    We are basically at day ONE because of the stonewalling of HF management.   Even after they agreed to give up some control, they then delayed before doing what they agreed to.   Disgusting behavior.   Just like their testimony where Simon "has no idea why they set up the Delaware LLC".   
Just read the sworn testimony at the link above.   While people were asking for refunds AND MANAGEMENT INCLUDING MONICA knew the company was insolvent, they gave everyone raises (some of them $100,000 per year) for FAILING and they started paying 85,000 per month in "royalties" to a delaware company for use of the IP that the delaware LLC paid NOTHING FOR.

This is probably the most important point everyone needs to read in the testimony for themselves and think about what kind of people would do that.   You have wasted $20 Miilion of other people's money and your actions AFTER it is clear the ship is sinking is to enrich yourself personally through cash raises and an attempt to steal the assets of the company (that other people's $20MM paid for) by transferring them to another company that MOST employees (including the CFO) own shares in.

You are ONLY NOW getting to the first days when someone other than HF has control over the delays.    We are basically at day ONE because of the stonewalling of HF management.   Even after they agreed to give up some control, they then delayed before doing what they agreed to.   Disgusting behavior.   Just like their testimony where Simon "has no idea why they set up the Delaware LLC".   
Just read the sworn testimony at the link above.   While people were asking for refunds AND MANAGEMENT INCLUDING MONICA knew the company was insolvent, they gave everyone raises (some of them $100,000 per year) for FAILING and they started paying 85,000 per month in "royalties" to a delaware company for use of the IP that the delaware LLC paid NOTHING FOR.

This is probably the most important point everyone needs to read in the testimony for themselves and think about what kind of people would do that.   You have wasted $20 Miilion of other people's money and your actions AFTER it is clear the ship is sinking is to enrich yourself personally through cash raises and an attempt to steal the assets of the company (that other people's $20MM paid for) by transferring them to another company that MOST employees (including the CFO) own shares in.

1.   You are wrong.
2.  You are wrong again on both you "points" in the one sentence.

You should stay anonymous, your statements are idiotic so anyone with any pride would want to keep their face covered while spewing them.

Appointing a CRO is a voluntary action taken by a company.  If the CRO hasn't been officially hired yet even though HF's lawyer told the court last Friday they agreed to hire a CRO then that is because whomever is in charge at Hashfast is dragging their feet and hasn't signed the paperwork making it official.  I agree the run around we are getting is really old but lets not fool ourselves about where the problem lies.

Further more as has been repeated multiple times here, the LiquidBits deal would have in all likelihood resulted in $0 being paid out to customer creditors who are owed refunds.  The only people it would have benefited are a select group of Hashfast's suppliers and employees.  You can't get a worse deal than zero.

O, and by the way for anyone who still thinks that a different law firm should have been chosen to represent the creditors the choice that some other people were pushing made the legal news yesterday because they are being sued for hiding conflicts of interest and over billing in a bankruptcy case.

http://www.law360.com/bankruptcy/articles/567327

They talked about how happy they were to be done with HF.  Eddie apparently lives at the office, along with his dog that is pooping a lot, even on someone's computer monitor.

Has there been a final ruling yet on the Hashfast case?

Agreed.  Why?  And frankly, blaming Monica is getting really old and annoying.  LB deal has been out of the picture for some time now.  I am now starting to fear that we might all miss their proposition later on. 

I've been slowly catching up on this thread and court tapes.  I think I did hear right when Ashley, the lawyer for the Creditor's Council, told the Court that in the Creditor's opinion, the chips were NOT a depreciating asset?!  Seriously?  What end game does the Creditor's Council want?  It is getting very hard to understand and to believe in them.  I had previously not taken any claims of conflict of interests at the Creditor's council leadership level seriously.  Perhaps this was a mistake and the issue deserves to be revisited.  This being said, even if true, it's getting really too late in the exercise to do anything about it.  I wonder how much HF's assets left have depreciated with the latest rise in network difficulty.