Interesting Globill document

[solonline]

Dont know if its been posted here - but for those who lost bucks it is worth a read
http://www.utb.uscourts.gov/LocalOpi...ns/473opin.pdf
a full can of squirming maggots

[AmeliaG]

Can you summarize the important points? I know I never got my settlement from them and I paid all of my affiliates out of pocket, so I sure wouldn't mind getting some of that dough back from the Globill people, whether or not they sent me a basket of Godiva.

[polish_aristocrat]

anyone here has any contact information to the Mathai brothers by any chance?

( and no, i am not interested in Globill )

[vicki]

When globill went down it took alot of my friends with them. That was the final straw and the day I decided to change focus in my career and find reliable banking solutions for people in this biz. I've never looked back ... guess in some sick manner I owe them a touch of gratitude

[The Other Steve]

Can you summarize the important points? I know I never got my settlement from them and I paid all of my affiliates out of pocket, so I sure wouldn't mind getting some of that dough back from the Globill people, whether or not they sent me a basket of Godiva.

Amelia the essentials of that document are that the Warrens were operating Globill as front people for the Mathais.

However they got greedy and took money out of Globill leaving it unable to pay its webmasters - people like you and me.

When Globill folded the Mathais sued the Warrens who realised that they could not cover the court costs of defending the action so they elected to go into Bankruptcy but before they did the liquidated all their assets and either hid the money by prepaying large amounts of various accounts or spending it on items that were exempt from liquidation under the bankruptcy laws.

The Warrens failed to disclose many of those transactions because some of those transactions could have been reversed by the liquidator of their estate.

The Mathais were aware of what the Warrens were doing and through various hearings in the bankruptcy court finally got the Warrens to admit to what they had done.

When the Warrens could legally ask to be released from their bankruptcy they did so and the Mathais contested their application. The judicial officer who heard the matter concluded that many of the Warrens dealings were verging on fraudulent and fell within the boundaries of several sections of the Bankruptcy law that could be enforced to keep the Warrens locked in bankruptcy.

And so it appears they still are.

The question of whether any of us will get money from Globill is now quite clearly answered. There is no money left in Globill because the Warrens took it and there is no money in the Warrens estate either.

Nor will we be able to sue the Warrens when and if they are released from bankruptcy because it appears they named every one of us as creditors in their bankruptcy and so their debt to us will be wiped when they are released ,

Personally scum like that should have no protection of any of their assets under any bankruptcy law. They should be thrown out in the street with nothing but the clothes they are wearing at the time.

Unfortunately that will never occur because we live in a civilised society and predators like the Warrens can prey on us at will.

The judicial officer who handed down that judgement should have a pat on the back - it was well reasoned and very fair, it's just a pity they couldn't jail the Warrens because I think that officer might have done it if she could.

[polish_aristocrat]

anyone here has any contact information to the Mathai brothers by any chance?

( and no, i am not interested in Globill )

[Mikey_219Inc]

i still enjoy the monthly letter i get from daniel boone

[directfiesta]

Amelia the essentials of that document are that the Warrens were operating Globill as front people for the Mathais.

However they got greedy and took money out of Globill leaving it unable to pay its webmasters - people like you and me.

When Globill folded the Mathais sued the Warrens who realised that they could not cover the court costs of defending the action so they elected to go into Bankruptcy but before they did the liquidated all their assets and either hid the money by prepaying large amounts of various accounts or spending it on items that were exempt from liquidation under the bankruptcy laws.

The Warrens failed to disclose many of those transactions because some of those transactions could have been reversed by the liquidator of their estate.

The Mathais were aware of what the Warrens were doing and through various hearings in the bankruptcy court finally got the Warrens to admit to what they had done.

When the Warrens could legally ask to be released from their bankruptcy they did so and the Mathais contested their application. The judicial officer who heard the matter concluded that many of the Warrens dealings were verging on fraudulent and fell within the boundaries of several sections of the Bankruptcy law that could be enforced to keep the Warrens locked in bankruptcy.

And so it appears they still are.

The question of whether any of us will get money from Globill is now quite clearly answered. There is no money left in Globill because the Warrens took it and there is no money in the Warrens estate either.

Nor will we be able to sue the Warrens when and if they are released from bankruptcy because it appears they named every one of us as creditors in their bankruptcy and so their debt to us will be wiped when they are released ,

Personally scum like that should have no protection of any of their assets under any bankruptcy law. They should be thrown out in the street with nothing but the clothes they are wearing at the time.

Unfortunately that will never occur because we live in a civilised society and predators like the Warrens can prey on us at will.

The judicial officer who handed down that judgement should have a pat on the back - it was well reasoned and very fair, it's just a pity they couldn't jail the Warrens because I think that officer might have done it if she could.

Very nice summary.

[polish_aristocrat]

bump.....

[polish_aristocrat]

[V_RocKs]

Globill was doomed from the start... Who uses a forum that has been hackable since 1998 and what self respecting payment processor stores the server generated passwords in plain text in their DB? You are just asking for trouble.

[Drake]

Interesting...both of the Warrens are certified accountants.