Hi Broker, Are you concerned about the clause in the sign-off letter that requires you to pay back any amount received over the final prorata percentage left to pay creditors. If it is 60% and you have already received 72% (for sake of example) by signing are you not agreeing to pay them back some of the money you have already received?
Well I am ashamed to admit that I will probably cave-in and sign the letter. I don't want to miss out on any potential future pay outs. I think the letter stinks and have nothing but contempt for Giddens in this whole affair, but what are the other options? I don't see any info or support for not signing and we are stuck with this fucked up system full of liars and thieves. It obviously need changing, but missing out on having my stolen money returned will only result in me missing out on having my stolen money returned. Nothing else.
So so sad, but so so true. Look at this one in the UK - http://www.bbc.co.uk/news/business-15919515 The professionals have milked this one for all it's worth, it's taken years. But now the money is running out, ie not much left for them to skim, the professionals are ready to settle the matter. Some of these professionals reallyt are a disgrace...
The judge said that you don't have to sign the letter to be entitled to future payouts. He is saying God-darns has no authority to not return money to people who don't sign if he returns it to people who do sign. See early post in bold (page 2 on my screen). --- As I get older I come to realize how important it is to establish our principles and then stand by them. Using an example most people will not understand: A few years back I watched a documentary on how Google was providing the technology to the Chinese govt to help them track down and jail those in China pushing for freedom of information or for democracy. China is a brutal totalitarian regime (Tamenin square, murdering of Tibetan priests etc). Google was doing business with evil people for money. And more recently Apple has been found to be using sweat-shop slave labor wages and armed guards to save a $1 on an iphone sold for $800. I won't use gmail. I won't use Paypal (owned by Google). I won't use Chrome. I don't use "google" as a search engine. I won't buy an ipod or iphone. I won't buy Apple stock. Perhaps inconvenient, perhaps different than the crowd. ------------ When you bend your ethics an associate with bad people, your consciousness gets engaged with their consciousness - even if your association is only to do mental battle with them. The lure (which is false I believe) of getting my stolen money back by dealing with bad people and signing - no not signing - swearing with an oath (which Jesus forbade) - is not even an consideration for me. If the mafia had stolen my money and then made me take an oath that they are nice people and if I did they might return some of my stolen money --- well no, not even an consideration for me. I have been stolen from and cheated before. It is part of being on the earth plane with many bad people around. For myself the is no pressure and therefore nothing to "cave-in" to. I have let it go. ------- I will make money my clearing my head and focusing on my trading. And doing this requires being free of running into the past mentally and hating bad people. To be in touch with the force of Universal Good and Love one must remain in a positive loving vibration (state of mind). With God all is possible. ( With goodness and faith all is possible) I hope this is of help to you - not just for this situation - but for others. All the best and Happy trading!
Attorneys , aren't they just grand . Here are people losing thousands, possibly millions and these guys still have the audacity to take their normal cut (which I may add is ridiculous) . There should be a cap on what they can earn off other people's misfortunes in cases like this . LET MF HEADS PAY THEM OUT OF THEIR OWN GREEDY HANDS!!
The beauty of bankruptcy laws in the US... Shareholders get zip, creditors get 10 cents on the dollar and the attorneys and accountants are employed until all assets are depleted by way of their fees. They complete their work when they report to the court there are no remaining assets. All states have enacted uniform statutes providing a release from fiduciary duties for "liquidating" trustees. If you sue the trustee they get to charge the trust more defending themselves... they will stretch it out as long as possible... and in the end after all trust funds are depleted in their billings they submit in a pleading they have a statutory release and the trust has no more assets... The judge dismisses the claim and terminates the trust. The best thieving racket to be in is to be a professional liquidating trustee. You should see some of their accounting work... Trust Consulting: $12,235,135 That's it.. no details... plus its contents are protected under client privilege.
Are these buyers offering $.90 on the dollar?!!!! If it is based on the balance in your account without any other haircut, which I doubt, GRAB IT.
.90 cents on the dollar is a STEAL !!! I CAN NOT imagine that to be true .. I hear REFCO guys got nothing ....
you are correct IMO it is not true. You need to read the fine print. More 90% of what the final settlement is. So if you are owed 10K and it is finally decided, depositors will get 77% (a laugh but for example) then 90% of 77% or $6,930 less the $7,200 you may have received already. .... ah wait a minute is than $0 --- and you need to sign the release ... you can only con a greedy man.
90 cents is for account balances well into six figures isn't it? Massive haircut for the rest I would imagine.