Mirror Trading International liquidators say they rejected all claims in first creditors' meeting to save time

[Jan]

What the Mirror Trading International liquidators tried to hide — all member claims rejected

At the first meeting of creditors held with the Master of the High Court on 5 November, the provisional liquidators of Mirror Trading International resolved to reject all claims that the scheme's former members had submitted.

In a statement to MyBroadband, the liquidators explained that the creditors—former members of the scheme—do not yet have to resubmit their claims.

 

[Willie Trombone]

Ah yes, the legal profession will eventually be the only claimants lol.

 

[quovadis]

Surely the liquidators, by rejecting all claims, have for the most part prejudiced those who they represent? Is there even a legal basis for such? I'm not sure how they reconcile such action primarily due to the volume of claims. Surely each claim has to be evaluated on its own merits? Bizarre to say the least especially since there might be more litigation delaying the process as a direct result of this. It would be interesting to know if the BTC was liquidated prior to finalisation of the liquidators and how that was decided on in light of the volatile nature of crypto and possible litigation.

 

[rvZA]

No surprises here, moving on.... no one involved here will be getting any money back. It will be by stroke of luck if anyone gets R100.

 

[r00igev@@r]

Here is our bill for legal fees. R1B. Thanks for playing.

 

[quovadis]

Here is our bill for legal fees. R1B. Thanks for playing.

They definitely don't inspire confidence but that was evident from the outset. I'm sure there'll be some interesting details to come.

 

[RedViking]

I struggle to feel sorry for them.... Not sure why.

 

[r00igev@@r]

They definitely don't inspire confidence but that was evident from the outset. I'm sure there'll be some interesting details to come.

Ou Seekoei must be fuming that she was scammed.

 

[ScamHunter]

Well yes - if they submit claims for monopoly money nobody will accept it. The only basis of claim a liquidation of a ponzi can have is money in-money out.. fairy tale bonuses (theft) don't count as that money has to go back to the members who lost

 

[RedViking]

Well yes - if they submit claims for monopoly money nobody will accept it. The only basis of claim a liquidation of a ponzi can have is money in-money out.. fairy tale bonuses (theft) don't count as that money has to go back to the members who lost

Well people are dumb enough to invest in crap even after being warned, ignorance. The members are just as guilty for conning their "friends" as well, well those they didn't cancel.