The newsfeeds of the whole Internet have shocked everyone with news about the bankruptcy of E-gold. What is it and regard such statement made by the administration of E-gold?
About 1PM New York time in the newsfeed of Google News appeared a press release with a link to http://www.prlog.org/10087220-gold-ltd-and-gold-silver-reserve-gsr-inc-b..., published on behalf of the owners of E-gold Ltd. and Gold & Silver Reserve (G&SR), Inc. In the text Chairman of E-gold Douglas Jackson and Director Barry K. Downey have made an announcement that on July 7, 2008 the companies E-gold Ltd. and Gold & Silver Reserve were declared bankrupt.
From that moment, following the Bankruptcy Code (Title 11, United States Code) a bankruptcy process, regulated by Chapter 7 of Bankruptcy Code will start. According to that chapter the trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of article 726. The assets excluded from the bankruptcy assets and obtained by the debtor after the beginning of the bankruptcy proceeding are not included.
What's the drift of all this?
Judging by the issued release one can draw a conclusion that E-gold payment system has ended its existence and waits only for the procedures dept discharge. According to the statement of Douglas Jackson, Chairman of E-gold, the registered capital of the company is $20000 and the property of E-gold is presented by the computers and the office furniture, thus, one can conclude that the accountholders of the system will get any compensation neither from E-gold Ltd. nor from Gold & Silver Reserve (G&SR), Inc.
What consequences can be expected from the E-gold’s composition in bankruptcy?
One can suppose that composition in bankruptcy will result in rapid drop of e-gold currency liquidity and further waiver of this currency. In the near term we can expect a sharp unload of the currency to the exchange services of the Internet, and also the concentration of e-gold in a limited number of the exchangers which will meet the heavy losses due to the bankruptcy of e-gold.
However, we should wait for the next statements of Douglas Jackson and
Barry K. Downey who will probably determine the exact terms of company shut down and the ending of the bankruptcy procedure.
http://www.ecommerce-journal.com/articles/e_gold_is_a_bankrupt_what_is_going_on
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On July 7, 2008 a voluntary petition regulated by Chapter 7, Bankruptcy Code (Title 11, United States Code) was submitted in respect of E-gold Ltd. and Gold & Silver Reserve (G&SR) Inc. The present petition was submitted voluntarily, i.e. personally by the Chairman of E-gold Douglas Jackson and Director Barry K. Downey.
July 7, 2008 -- On July 7, 2008 a voluntary petition regulated by Chapter 7, Bankruptcy Code (Title 11, United States Code) was submitted in respect of E-gold Ltd. and Gold & Silver Reserve (G&SR) Inc. The present petition was submitted voluntarily, i.e. personally by the Chairman of E-gold Douglas Jackson and Director Barry K. Downey.
Since Chapter 7 of Bankruptcy Code determines the duties of the debtor to notify all the organization creditors of the bankruptcy process in advance, this public utterance targets to inform all the creditors that E-gold Ltd. and Gold & Silver Reserve (G&SR) are not liable for the obligations to the creditors, i.e. the companies are insolvent.
In view of this fact during these coming three days a liquidation proceeding of E-gold Ltd. and Gold & Silver Reserve (G&SR) Inc. will be started. The proceeding will be conducted under the control of the federal governor appointed by the United States District Court for the District of Columbia. The name of the federal governor is not a subject to disclose yet. After the appointment of the governor the whole property of E-gold Ltd. and Gold & Silver Reserve (G&SR) Inc. will be tuned into the bankruptcy assets and will be put out to auction to fulfill the existing liabilities to the creditors. The appointed governor collects the property of the debtor (except the property excluded from the bankruptcy assets and obtained by the debtor after the bankruptcy proceeding began), reduces to money and distributes the collected funds to the creditors following the requirements stated in article 726. Today the property of E-gold is presented by the computers and the office furniture. The registered capital of the company is $20000. All the gold accounts of E-gold Ltd. and Gold & Silver Reserve (G&SR) Inc. Will be arrested during 7 days and then will be studied with the object to legitimacy and legality of the funds in them.
The liquidation proceeding of the legal entities E-gold Ltd. and Gold & Silver
Reserve (G&SR) Inc. will be performed as soon as practicable in accordance with article 704 which states that "the trustee shall collect and reduce to money the property of the estate for which such trustee serves, and close such estate as expeditiously as is compatible with the best interests of parties in interest."
We, Douglas Jackson and Barry K. Downey, announce the possible massive ddos-attacks due to the declared bankruptcy of E-gold Ltd. and Gold & Silver Reserve (G&SR) Inc., hereupon the system may operate unstable.
In accordance with the Chapter 7 of the Bankruptcy Code after the completion of the liquidation proceeding E-gold Ltd. and Gold & Silver Reserve (G&SR) Inc., and thus e-gold will go into liquidation.
http://www.newsguide.us/business/e-...ver-Reserve-G-SR-Inc-bankruptcy-announcement/
выводите деньги...
About 1PM New York time in the newsfeed of Google News appeared a press release with a link to http://www.prlog.org/10087220-gold-ltd-and-gold-silver-reserve-gsr-inc-b..., published on behalf of the owners of E-gold Ltd. and Gold & Silver Reserve (G&SR), Inc. In the text Chairman of E-gold Douglas Jackson and Director Barry K. Downey have made an announcement that on July 7, 2008 the companies E-gold Ltd. and Gold & Silver Reserve were declared bankrupt.
From that moment, following the Bankruptcy Code (Title 11, United States Code) a bankruptcy process, regulated by Chapter 7 of Bankruptcy Code will start. According to that chapter the trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of article 726. The assets excluded from the bankruptcy assets and obtained by the debtor after the beginning of the bankruptcy proceeding are not included.
What's the drift of all this?
Judging by the issued release one can draw a conclusion that E-gold payment system has ended its existence and waits only for the procedures dept discharge. According to the statement of Douglas Jackson, Chairman of E-gold, the registered capital of the company is $20000 and the property of E-gold is presented by the computers and the office furniture, thus, one can conclude that the accountholders of the system will get any compensation neither from E-gold Ltd. nor from Gold & Silver Reserve (G&SR), Inc.
What consequences can be expected from the E-gold’s composition in bankruptcy?
One can suppose that composition in bankruptcy will result in rapid drop of e-gold currency liquidity and further waiver of this currency. In the near term we can expect a sharp unload of the currency to the exchange services of the Internet, and also the concentration of e-gold in a limited number of the exchangers which will meet the heavy losses due to the bankruptcy of e-gold.
However, we should wait for the next statements of Douglas Jackson and
Barry K. Downey who will probably determine the exact terms of company shut down and the ending of the bankruptcy procedure.
http://www.ecommerce-journal.com/articles/e_gold_is_a_bankrupt_what_is_going_on
-------------------------------------------
On July 7, 2008 a voluntary petition regulated by Chapter 7, Bankruptcy Code (Title 11, United States Code) was submitted in respect of E-gold Ltd. and Gold & Silver Reserve (G&SR) Inc. The present petition was submitted voluntarily, i.e. personally by the Chairman of E-gold Douglas Jackson and Director Barry K. Downey.
July 7, 2008 -- On July 7, 2008 a voluntary petition regulated by Chapter 7, Bankruptcy Code (Title 11, United States Code) was submitted in respect of E-gold Ltd. and Gold & Silver Reserve (G&SR) Inc. The present petition was submitted voluntarily, i.e. personally by the Chairman of E-gold Douglas Jackson and Director Barry K. Downey.
Since Chapter 7 of Bankruptcy Code determines the duties of the debtor to notify all the organization creditors of the bankruptcy process in advance, this public utterance targets to inform all the creditors that E-gold Ltd. and Gold & Silver Reserve (G&SR) are not liable for the obligations to the creditors, i.e. the companies are insolvent.
In view of this fact during these coming three days a liquidation proceeding of E-gold Ltd. and Gold & Silver Reserve (G&SR) Inc. will be started. The proceeding will be conducted under the control of the federal governor appointed by the United States District Court for the District of Columbia. The name of the federal governor is not a subject to disclose yet. After the appointment of the governor the whole property of E-gold Ltd. and Gold & Silver Reserve (G&SR) Inc. will be tuned into the bankruptcy assets and will be put out to auction to fulfill the existing liabilities to the creditors. The appointed governor collects the property of the debtor (except the property excluded from the bankruptcy assets and obtained by the debtor after the bankruptcy proceeding began), reduces to money and distributes the collected funds to the creditors following the requirements stated in article 726. Today the property of E-gold is presented by the computers and the office furniture. The registered capital of the company is $20000. All the gold accounts of E-gold Ltd. and Gold & Silver Reserve (G&SR) Inc. Will be arrested during 7 days and then will be studied with the object to legitimacy and legality of the funds in them.
The liquidation proceeding of the legal entities E-gold Ltd. and Gold & Silver
Reserve (G&SR) Inc. will be performed as soon as practicable in accordance with article 704 which states that "the trustee shall collect and reduce to money the property of the estate for which such trustee serves, and close such estate as expeditiously as is compatible with the best interests of parties in interest."
We, Douglas Jackson and Barry K. Downey, announce the possible massive ddos-attacks due to the declared bankruptcy of E-gold Ltd. and Gold & Silver Reserve (G&SR) Inc., hereupon the system may operate unstable.
In accordance with the Chapter 7 of the Bankruptcy Code after the completion of the liquidation proceeding E-gold Ltd. and Gold & Silver Reserve (G&SR) Inc., and thus e-gold will go into liquidation.
http://www.newsguide.us/business/e-...ver-Reserve-G-SR-Inc-bankruptcy-announcement/
выводите деньги...
и все!
