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plankton

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Reply with quote  #31 
Any updates for 2017?  Final fillings? Anyone receive anything from anyone?
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"In God We Trust"

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Reply with quote  #32 
Haven't had any communication from anybody. I've been hoping JG would be able to dig something up. Has anything been filed for 2016? It may be a bit early for year end filing. 

Also, what ever happened to the creditor committee?   
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JG

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Reply with quote  #33 
I haven't heard anything in quite some time.

I don't expect any tax documents will be sent to creditors, as I don't believe there is anything to report (e.g. if there were any tax documents for transactions that occurred, they would have been for 2015, to be mailed out a year ago). And the bankruptcy professionals tend not to be too interested in updating creditors in what is going on <sigh>.

I believe the creditors' committee still exists, as the Bullion Direct Trust now exists (with everything except the assets that Charles' parents bought), which includes the right to sue people.
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oldAG

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Reply with quote  #34 
Are they actually in business yet and if so, under what name and online address?
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JG

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Reply with quote  #35 
Quote:
Originally Posted by oldAG
Are they actually in business yet and if so, under what name and online address?


I haven't heard anything yet about whether the business has started. The name they were planning to use was "Platform Universe", but that could have changed.

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jkline

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Reply with quote  #36 
Platform Universe?  Sounds like a gay bar in Thailand.

Prediction:  epic fail.
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don krueger

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Reply with quote  #37 
There remains a huge dilemma with the reorganization. My IRA requires an annual distribution.  How could I make this requirement if there is no gold in the vault?
DE Krueger
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oldAG

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Reply with quote  #38 
Doesn't your IRA require some value to base your annual distribution on? Technically isn't it worth zero at this point in time? Maybe you can figure a way to close out the IRA account with the bankruptcy versus having it hang over your head for the next 8 years to claim any distributions you might get for tax purposes. You sure can't claim any in the years in which you receive none. 

To change the subject just a little, but only a little. This clears up my question as to rather he stiffed investors out of their IRA accounts as well. I've been hoping if that is the case it violates some kind of separate federal law dealing with the theft from IRA accounts.
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tboll

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Reply with quote  #39 
That's a great question and it started me wondering, if there ever was a profit, how would they distribute it to the creditors?  Would they get a check each year based on their portion of total credit.  Like 0.1% of a $10,000 net creditor profit pool for the year = $10?  Or would they decide that that is too much administration to process annually and just wait until the end of 7 years?  Or will they just convert all the "payout" to shares of the company at the end of the 7 years so that they don't have to write out any checks unless you sell back your shares?  Not sure if anyone would buy the shares or if the company would have to buy back the shares.  They probably never worked through the logistics of how they would actually pay out because they figured they'd cross that bridge when they came to it (or perhaps not).

Sorry, Don, that really didn't answer your question, it only generated more questions which are potentially irrelevant since they would require that the new company makes a profit and actually distributes the profit to the former customers (as opposed to other more important creditors).
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ikopt

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Reply with quote  #40 
What exactly is going on lately with Bullion Universe? Are they active or dead? I do not see any activities there, none of 'asks' or 'bids'. If Anyone has any ideas, please share them here.
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