Thread: A Humble Request (Merged)

Yes agreed and very well put michaelr.
I must say I find it very interesting that Bryan chose to post here that tidbit about the credit card processors, the other day. What I find interesting is that I’m wondering if Bryan was attempting to give us a clue as to why the investigation continues to drag on.
Bryan is telling us that the cc processing companies are holding millions of dollars from members payments to PIPS that were made by credit card.
According to Bryan, the cc processors have not paid one cent of that money to PIPS.

I’m wondering… is it possible that perhaps the restructured version of Picpay is actually ready but before it could be launched there has to be an official winding down of the original Picpay company?
Could it be that the winding down of Picpay is the final phase in this long, drawn out process?
However, if Picpay is liquidated (or whatever the correct term for that is) before the matter with the credit card processors has been resolved to PIPS/Bryans’ satisfaction, could that possibly result in PIPS/Picpay legally forfeiting any claim for monies owed?
Just a thought and I realize I could be way off track.

Originally Posted by Chester

However, if Picpay is liquidated (or whatever the correct term for that is) before the matter with the credit card processors has been resolved to PIPS/Bryans’ satisfaction, could that possibly result in PIPS/Picpay legally forfeiting any claim for monies owed?

I certainly pray this is not true.

Murray

I think I may have caused confusion with my wording. I mean any claim by PIPS for what is owing to PIPS, specifically the Millions of dollars that has been withheld by the credit card processors. Sorry I didn’t make that more clear.

I may be wrong but I believe that in a voluntary winding up of a company it is possible to transfer assets to a new entity or a restructured company so I do not think this should be a dangerous issue especially when the restructure is being supervised by a Central Government Regulator as is the case with BN.

Originally Posted by michaelr

I may be wrong but I believe that in a voluntary winding up of a company it is possible to transfer assets to a new entity or a restructured company so I do not think this should be a dangerous issue especially when the restructure is being supervised by a Central Government Regulator as is the case with BN.

Very good point. I agree

I thought it premature to speak about the shut down at this point. It would not have made much sense to many. I believe the statement by DrWho to be a little skewed......just because BM may or may not have invited in BNM does NOT preclude the activities by those who would see him fail, and members lose. IF you have been following along, and IF you have been weighing the "evidence", you will see, no matter what, an orchestrated effort on both sides - lets call it a duel - to advance their own vision. I will not speak to the "shut down" just yet, as we have a few other things to tie up. I find the post regarding the shut down nicely refreshing, as it reminded me of a couple of things that were going on in August and September; but more on this later.

I cannot promise to be here later today - I am swamped, but I will do my best. I have complete faith in the rest of you to continue the timeline and summarize where we are at. THEN, we will discuss the "need" for the consultants, and what happened over the summer of 2005.

Arcturus

Originally Posted by michaelr

I may be wrong but I believe that in a voluntary winding up of a company it is possible to transfer assets to a new entity or a restructured company so I do not think this should be a dangerous issue especially when the restructure is being supervised by a Central Government Regulator as is the case with BN.

I have no doubt that this is possible to accomplish, but will "they" (BNM) allow it? Perhaps that's what they are working on, and Bryan can't discuss it, at least I hope that's what's going on.

No offence Guest1, having the same problem here ;)
Cheers mate
paddy

well i must say that as a member , i stuck with the p---s forum for my information , and did not know about all of these other forums for info . soo i have to say that i have been learning more with this discussion . i thank you all.

Hello Everyone,

I had planned to summarize what we have covered to this point but between work, interviews, and family, I haven't had the time to do so yet. If anyone would like to step up and take a crack at it, I would greatly appreciate the assistance...

Everwiser