Lawyers are the big winners in Mirror Trading International liquidation

Jan

Jan

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Unreal said:
People think only politicians are dirty.
That’s why we curse each other out on MyBB thinking a different party will make a difference. The truth is: money is dirty and whoever handles money becomes dirty.
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I agree! Someone in our estate owe’s R1000 000 in arrear levies. Now, I ask, who didnt do their job? Trustees or lawyers?
 
Considering that many MTI members wanted the liquidators to hold the bitcoin instead of converting it to fiat the liquidators have actually improved the position even if you consider what has been spent to date and their fees they've set aside...
 
quovadis said:
Considering that many MTI members wanted the liquidators to hold the bitcoin instead of converting it to fiat the liquidators have actually improved the position even if you consider what has been spent to date and their fees they've set aside...
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Indeed. Even if it was blind luck, credit where it's due.

That said, someone inside the liquidator camp told me they couldn't hold it even if they wanted to. Without prior case law for guidance they assumed bitcoin would be treated like shares, which means they must convert to fiat immediately after securing the asset.

However, at this rate, whatever the liquidators don't farm out to their lawyer buddies will get gobbled up by SARS and/or the CFTC.
 
Sorry for the victims. I have yet to find the single case where victims got back at least 50% of their investments. Just simply never happens. School fees. Easy as that,
 
Harmonic said:
They are scammers. Take even something as trivial as transferring a bog standard house with bog standard terms...

Apparently it costs more because the value of the house is more.... WTF
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You're blaming the wrong people. Conveyancing, transfer and registration fees are set by the government.
 
Jan said:
Indeed. Even if it was blind luck, credit where it's due.
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Definitely luck - at the rate they're going its possible? it might rebound and turn against them too.
Jan said:
That said, someone inside the liquidator camp told me they couldn't hold it even if they wanted to. Without prior case law for guidance they assumed bitcoin would be treated like shares, which means they must convert to fiat immediately after securing the asset.
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The very definition of liquidation but regardless of crypto or not it's always been a cause of debate especially with assets with highly fluctuating value or potential for growth.
Jan said:
However, at this rate, whatever the liquidators don't farm out to their lawyer buddies will get gobbled up by SARS and/or the CFTC.
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MTI members will be lucky to receive anything imho.
 
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Harmonic said:
They are scammers. Take even something as trivial as transferring a bog standard house with bog standard terms...

Apparently it costs more because the value of the house is more.... WTF
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AFAIK it's the Transfer Tax that varies not the lawyer fees, I've seen a fairly flat rate in our last two home purchases.

Whether the lawyer fees are fair, that's another discussion.
 
The_MAC said:
AFAIK it's the Transfer Tax that varies not the lawyer fees, I've seen a fairly flat rate in our last two home purchases.

Whether the lawyer fees are fair, that's another discussion.
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Are the lawyer's fees the same for property of why price?
 
lol money long gone now. ran through mixer and more.. hahahha. got 2 love them high court fees. add up to so much quickly.
 
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