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Originally Posted by Tipsy
Oh I agree entirely. The comment was more about the point of having 2 companies one in Europe and one in the US - even if the US is ultimately the controlling company. Little to do with tax and more to do with VISA regs ie they need a European company to process there.
As far as iBill goes I made it clear a while ago I thought the adult Internet would be better with them NOT bouncing back as they have the inability to do the job. Rather than iBill adult needs someone to replace them. Sucks for those they owe money to though.
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Got ya!! Yes, understand.. They do (or did!) have at least one corp in Europe, but checking at the moment for more.
There is a lot unknown, but do doubt will become clear be over time. If they are claiming to be dealing with the original Credit Suisse (the actual bank in Switzerland with that name), - they only deal with private clients and Swiss domiciled companies, so, there may be more companies yet :-)
This is the bank that sold/merged a substantial amount of their business and that is known as Credit Suisse First Boston (CSFB) and in turn is owned by another bank. Although CSFB still deal with the original Credit Suisse - this is handled entirely differently and controlled from Switzerland. CSFB and others have commented that the type of biz iBill do is not the "normal" type of business the Swiss Bank (Credit Suisse) would handle, which is mainly just "private banking".
Various bankers (mainly merchant banks), have also commented that they cannot see any bank taking more than a day to open an account if all information is available and looks OK. So, smells like another problem.
Totally agree on iBill not rising from the ashes - they have nothing to offer and, based on the previous history, - would just be an ongoing source of problems to many folks if they were foolish enough to deal with them. There is also a severe problem with the principals on banking issues - they remain involved and have an interest in IBD.
Yeah.. I've just been hearing from some webmasters who are owed money - a few are fine and will live OK despite iBill. Others are in severe hardship cos they trusted a processor to deliver the service they paid for - or overpaid for :-) All the more reason for iBill to cease to exist now and a liquidator take control and split any remaining assets over the creditors - if any assets do exist!
This is what happens when a defunct company (PHSL) tries to become *something* and buy into businesses simply on the understanding they will take the debt over - the problem was, they didn't and couldn't.
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Hey Jason!! Ain't that last bit the truth????
I know you see all this stuff while you continue to paint, - even this week, - "forward looking" pictures of iBill to PHSL and IBD shareholders. Looks like family habits die hard - some call that fraud and scamming.