Registered: 1435857416 Posts: 981
Reply with quote
Bullion Direct released the amended list of creditors in
Docket 101. You can also use the searchable webpage I put together to more easily see if you are listed properly. If you are listed properly (e.g. your name and the dollar amount corresponds with what you believe you are owed), then there is no need to do anything further unless the court tells you otherwise (e.g. if the case is converted to Chapter 7, you would then need to file a Proof of Claim form). The exception would be if you are listed as contingent, unliquidated, or disputed (but I don't see anyone who is). Note that the metal was valued based on the number of ounces you have, times the spot price they used for the day of the bankruptcy filing ($1103.60 for gold, $14.76 for silver ($14.74 by error for some people), $974 for platinum, $603 for palladium, and $.50 for copper). Original (outdated) Information: *** UPDATE #2 *** It is expected that Bullion Direct will file an accurate amended list of creditors. If so, and you are listed properly, you will not need to file a Proof of Claim form. The deadline for filing one, if necessary, has been extended to January 25, 2016. *** UPDATE #1 *** The list of creditors has been released, and lists all claims as "disputed", which normally means that you must file a Proof of Claim if you want to be sure to get your share of any distributions. I am waiting to hear back from Bullion Direct to see if they plan to file an amended list of creditors, as is hinted at in the filing. At this point, you should assume that you must file a Proof of Claim before the November deadline, unless you hear otherwise. Probably the #1 question people ask is "What steps do I need to take?" Bullion Direct is in Chapter 11 bankruptcy. If all goes as intended, you do not need to do anything, and would end up with any check(s) that came when money was distributed. However, you need to make sure that your name appears on list of creditors that will be filed with the bankruptcy schedules, and that the claim appears properly there. If so, there is no need to file a claim. If you are not listed, or there is a problem with the listing, or if you get further paperwork saying you need to file a claim, in that case you would have to file one. I also suggest that you subscribe to the mailing list (you can find the form at http://about.ag/BullionDirect.htm ). I only send E-mail to that list occasionally, which would include any important changes (such as a switch to Chapter 7, which would require filing a Proof of Claim form). I am locking this topic, but feel free to ask any questions you may have in other threads (or you can start a new thread).