[For news on NWT Mint, see http://about.ag/NWTMint.htm]
[For research on bullion dealers, see http://BullionDealerData.com]




Forum
Sign up Calendar Latest Topics
 
 
 


Reply
  Author   Comment  
"In God We Trust"

Junior Member
Registered:
Posts: 23
Reply with quote  #1 
JG, is there any info update on filing the proof of claim. At one point you said you were going to post instructions and the proper forms to use. Is filing necessary if we are properly listed in the creditors list?  Thanks for your help.
0
JG

Administrator
Registered:
Posts: 991
Reply with quote  #2 
Quote:
Originally Posted by "In God We Trust"
JG, is there any info update on filing the proof of claim. At one point you said you were going to post instructions and the proper forms to use. Is filing necessary if we are properly listed in the creditors list?  Thanks for your help.


As it stands, the case is in Chapter 11 -- so if you are properly listed in the list of creditors ( http://about.ag/pics/bk/bd/101.pdf ), you have a claim already.

However, there is a motion to convert to Chapter 7. If this happens, then most likely everyone would need to file a Proof of Claim form. However, if a Chapter 11 ends up requiring a Proof of Claim form (e.g. due to a conversion to Chapter 7), the court should notify all creditors.


0
cczz

Junior Member
Registered:
Posts: 3
Reply with quote  #3 
I'm completely new to this forum but I decided out of the blue to double check my dad's Bulliondirect account to be certain that he had rec'd all his gold. He passed in 2010 and I thought I had gotten all of his gold that was being "stored".  But, before finding this forum I realized I don't know how to read his Catalog orders.  It now looks to me as if he didn't have all of his purchases shipped to his home, but they were all paid by check.  He is also not listed in the list of creditors.  What should I do?  Thanks.
0
JG

Administrator
Registered:
Posts: 991
Reply with quote  #4 
Quote:
Originally Posted by cczz
I'm completely new to this forum but I decided out of the blue to double check my dad's Bulliondirect account to be certain that he had rec'd all his gold. He passed in 2010 and I thought I had gotten all of his gold that was being "stored".  But, before finding this forum I realized I don't know how to read his Catalog orders.  It now looks to me as if he didn't have all of his purchases shipped to his home, but they were all paid by check.  He is also not listed in the list of creditors.  What should I do?  Thanks.


Hi,

I would recommend contacting Joe Martinec (martinec@mwvmlaw.com), the attorney for Bullion Direct.

For a quick search of the amended list of creditors, you can go to http://about.ag/nosearch/BD101.htm .

If your dad's claim is not listed, or not correctly listed, you would need to file a Proof of Claim form (the deadline is currently January 25).

0
cczz

Junior Member
Registered:
Posts: 3
Reply with quote  #5 
Thanks. I'm wondering how I know if there was anything left for which my dad would have a claim?  Can you give me help reading his account information?  Maybe he has nothing left with them.

When I click "Portfolio" a message says "You currently have no products in your online portfolio"
2 items (21 coins) come up as "Received" under "Product Deposits"

I matched my dad's purchases, all paid for by check under "Catalog orders", to his "Product Draws" and it comes up 80 coins short. I don't know if I'm finding everything I need but he was only active for a little over a year.  And I don't see any activity in any other fields but "Catalog orders, Product Draws, & Product Deposits"

Or should I just make my estimate based on what doesn't match up and contact the attorney anyway?  (I've printed all his account info in case they freeze it once they know he passed away)
I don't want to bother you or ask for help with questions you aren't comfortable answering.

Thanks so much for telling me who to contact.I didn't even know they had filed for Bankruptcy until I decided to just check his account and close things up, so the timing is coincidental.


0
JG

Administrator
Registered:
Posts: 991
Reply with quote  #6 
I'm not really familiar with the account information.

My impression is that the only time that someone would not be visible there is if someone did a product draw, and it never got shipped.

Perhaps a customer who is familiar in reading the account information could offer a suggestion?

0
tboll

Senior Member
Registered:
Posts: 299
Reply with quote  #7 
Are you sure that he didn't sell some of his coins on Nucleo rather than drawing the product and getting it delivered?  I know for me I would generally buy from the Catalog as the price went down because the catalog correlated better with the spot price of metal.  Then when the price went up, I would sell on Nucleo because frequently people would offer more for metal on Nucleo than the going price on the Catalog (especially several years ago when the prices of each weren't listed together).  So for my account there are more catalog purchases than there are product draws.

Look under "Order History" and select "Nucleo Trades" and see if there are any SELLs.
0
cczz

Junior Member
Registered:
Posts: 3
Reply with quote  #8 
Hi, thanks.  I looked under Nucleo Trades and there is nothing there.  If nothing shows at all I was assuming he didn't use that option.  Could that type of trading show up somewhere else?  

In his account the only places that had any information were Catalog Orders, Product Draw and Product Deposit.  I used the drop down and clicked on each option.
Knowing my dad, he liked having the actual metal.  

Before he passed away he had me get his remaining purchases shipped.  But, he was in the hospital and had trouble communicating, so although I thought I got everything--I'm confused by his account information and that I can't match shipments with all the purchases.

Would Joe Martinec actually help with that? I realize at this point I'm up against the Jan. 25th deadline.  The unaccounted coins only come to about $1200. -I guess I have nothing to lose by contacting them and filing out a Proof of Claim? I suppose the headache might not be worth too much of my time. 
0
JG

Administrator
Registered:
Posts: 991
Reply with quote  #9 
Quote:
Originally Posted by cczz
Would Joe Martinec actually help with that? I realize at this point I'm up against the Jan. 25th deadline.  The unaccounted coins only come to about $1200. -I guess I have nothing to lose by contacting them and filing out a Proof of Claim? I suppose the headache might not be worth too much of my time. 


Although Joe Martinec (and Dan Bensimon, the Chief Restructuring Officer) have shown they aren't really on the side of creditors, Joe does tend to respond to inquiries he gets, and at times has been quite helpful.

One thing to be aware of is that it is not at all clear at this point how much money might be recovered. If the intellectual property has minimal value, and no new assets can be recovered (e.g. from Charles McAllister, the half-owner-and-CEO), the distributions could possibly be limited to pennies on the dollar.

0
Previous Topic | Next Topic
Print
Reply

Quick Navigation:

Easily create a Forum Website with Website Toolbox.