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JG

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Reply with quote  #16 
Quote:
Originally Posted by spainte
Hope there will be a conference call option. At the very least, a recording. This meeting will most likely be included via transcript into the court documents (?). I've emailed Martinec to find out. The clerk of the court did not know.


I was able to get the audio for the creditor meeting for Tulving, and although the process is a bit different for Texas, I expect to be able to get a copy of the audio (although it might take a couple weeks). Assuming I get a copy, I would post a pseudo-transcript online and the actual audio.


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areabird

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Reply with quote  #17 
I will be attending the 341 meeting. I will print out whatever questions have been posted / compiled by that date and try to ask as many as I can.

Every 341 meeting is tape recorded. The audio can be requested from trustee, though it may take a few weeks to be made available.
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Dcscott

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Reply with quote  #18 
I will be going to the meeting. If alowed i will reord everything. In response to those asking will i get my property, aka bllion bought, paid for and being held..... I thought this whole thing was about the fact that BD did NOT store any , or very little (4%) of the bullion purchased.so there is no mtal to be returned.
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RippedOff

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Reply with quote  #19 
JG, Thanks for all this invaluable work.  Were it not for you, we'd be "flapp'n in the breeze".
I was looking through the list of removed questions and saw one that I think you should reconsider.  It was "How did 150k of unsecured debt put a bullion dealer with 15 years experience out of business?"  You said you were "Unsure of meaning".  But (perhaps rephrased) its a valid question.  How come BDI couldn't secure a bank's line of credit or a VC's "traunch" to keep-on operating?...i.e. What did THEY see/know that we customers didn't?

 

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JG

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Reply with quote  #20 
Quote:
Originally Posted by RippedOff
JG, Thanks for all this invaluable work.  Were it not for you, we'd be "flapp'n in the breeze".
I was looking through the list of removed questions and saw one that I think you should reconsider.  It was "How did 150k of unsecured debt put a bullion dealer with 15 years experience out of business?"  You said you were "Unsure of meaning".  But (perhaps rephrased) its a valid question.  How come BDI couldn't secure a bank's line of credit or a VC's "traunch" to keep-on operating?...i.e. What did THEY see/know that we customers didn't?


All it would take would be a simple question "Why do you show liabilities of $33M and assets of $1M?" to prevent a loan from going through. Or "You show that you hold $10M+ of cash for customers, can you show us the bank account that money is in?"

If this were a typical bankruptcy -- they had all the stored metal and account cash, then $150K of debt would be a problem that could be overcome (if Charles took a reduced salary of $125K/year, the debt would be gone in a year).

From Docket 45, the only financial institution, creditor, or other party to be issued as financial statement within 2 years of the bankruptcy was Richard Dacey in July, 2014 (presumably of Dacey, Richard, Philford Johnson & April Sheehy that Bullion Direct entered into a Brokers Agreement with per Docket 44). [Note to self: add to list of questions. Note to self: Done.]

Ultimately, going to investors may have drawn unwanted attention to the proven to be possibly fraudulent activity.

If you still think it should be asked, I can move it elsewhere on the list. Part of the reason for that section was to make sure I didn't accidentally "over-moderate" the list of questions and remove a question that is important to someone.

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PM

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Reply with quote  #21 
I purchased everything through the Nucleo Exchange, meaning I bought from other Customers, not BDI.
How will that be handled?
Are those purchases going to be considered assets of BDI?
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JG

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Reply with quote  #22 
Quote:
Originally Posted by PM
I purchased everything through the Nucleo Exchange, meaning I bought from other Customers, not BDI.
How will that be handled?
Are those purchases going to be considered assets of BDI?


I do have a question about that on the list now, so we will hopefully find out the answer soon.

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nobody

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Posts: 360
Reply with quote  #23 
While the ToS doesn't spell it out, their FAQ at least suggests they didn't treat the event as significantly different from trading with BD.

Quote:

The products available on Nucleo are a combination of products owned by other members (individuals and institutions alike), as well as Bullion Direct. 

Regardless to whom your order matches, you will not be dealing with a third party. Bullion Direct takes on both sides of the transaction and is responsible for fulfilling your order to your satisfaction.



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PM

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Reply with quote  #24 
Thanks nobody, so some of it could have been purchased from BD.
They were probably the one that kept lowballing a bid for 5000 oz.

Thanks JG for adding that to the list of questions.      [smile] 
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nobody

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Reply with quote  #25 
While I'm sure it's staring me in the face, does anyone have the dial in information for this meeting? I want to make sure I'm not scrambling to find it in an hour or three :-)
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JG

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Reply with quote  #26 
Quote:
Originally Posted by nobody
While I'm sure it's staring me in the face, does anyone have the dial in information for this meeting? I want to make sure I'm not scrambling to find it in an hour or three :-)


Sorry, as far as I know, there will be no dial-in for this (unlike the first hearing).

However, I will be posting the audio of the meeting as soon as I get it.

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