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Nick

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Reply with quote  #1 
If so, I would likely be willing to contribute some limited amount of money and time to the effort. It would be a shame if McAllister got to skate completely on this.
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JG

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Reply with quote  #2 
Quote:
Originally Posted by Nick
If so, I would likely be willing to contribute some limited amount of money and time to the effort. It would be a shame if McAllister got to skate completely on this.


And the Department of Justice, FBI, etc. will pursue the criminal route.

My understanding is that Bullion Direct is responsible for taking care of pursuing options that could potentially bring cash to customers.

If Bullion Direct for some reason does not pursue Mr. McAllister (and legally can, and there are potential assets to recover), the Creditors' Committee should push to find out why they are not pursuing it.

Of course, it couldn't hurt to check with a bankruptcy attorney to see if it is OK to just sit back and assume it will get handled, or if it is necessary to be more pro-active.

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Dcscott

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Reply with quote  #3 
I will do anything it takes to
get what is owed me , plus see him punished for theft. I have already filed complaints with fbi, ic3, DA...even linkedin ... to hopefully get him ... tossed !
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nancy

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Reply with quote  #4 
My name finally showed up on the revised list.  I was a first time customer at BD, with a catalogue order for 10 OZ of gold.  However my name is not under catalogue orders customers but is listed as (Ship Regular Active) can anyone tell me what that means, and do I need to put in a claim to clarify?     
Thank you everyone (special thanks to JD) for all the valuable information.  
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JG

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Reply with quote  #5 
Quote:
Originally Posted by nancy
My name finally showed up on the revised list.  I was a first time customer at BD, with a catalogue order for 10 OZ of gold.  However my name is not under catalogue orders customers but is listed as (Ship Regular Active) can anyone tell me what that means, and do I need to put in a claim to clarify?     
Thank you everyone (special thanks to JD) for all the valuable information.  


I would not be concerned about that. Bullion Direct hasn't stated what those terms means. From the best I can tell, "Catalog Order (unshipped)" is where someone simply placed a catalog order, and "Ship Regular Active" is for product draws (where someone requested delivery of metal that they had listed in their account). So it may be that you did something (or there was something unique about your order) that caused it to switch categories. But in any case, I cannot imagine there would be any issues if the category is listed improperly (with the usual caveat that I am not a lawyer).

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nancy

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Reply with quote  #6 
Okay, thanks JG. I was just concerned based on what is being said about how a certain $$amount of a catalogue order may be considered as a secured creditor as opposed to deposit accounts?  The only reason I created an account with BD was because I had to do so before I could place the order.  
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JG

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Reply with quote  #7 
Quote:
Originally Posted by nancy
Okay, thanks JG. I was just concerned based on what is being said about how a certain $$amount of a catalogue order may be considered as a secured creditor as opposed to deposit accounts?  The only reason I created an account with BD was because I had to do so before I could place the order.  


As far as I know, nobody is being treated as a secured creditor. That's because you can only be a secured creditor if there is property owned Bullion Direct that you have a security interest in, and normally only one person can have security interest in property. But with $600K of metal backing much more than that, it isn't possible for someone to point to a specific piece of metal and say "That's the one that they were going to send to me!" (and even if you could, you'd still need to find a way to have a security interest in it, which normally doesn't happen automatically). A security interest is usually used for things like collateral for loans.

Some people are trying to claim that they have a priority on the first ~$3,000 based on it being considered a "deposit" -- that's something the lawyers are going to have to figure out (and there is no precedent from the Tulving case). With Tulving, at first I thought it might apply, but then later changed my thoughts on it. But I suspect it will be all-or-nothing for catalog orders (either everyone gets that priority, or nobody does).


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