Join Date: Jul 2002
Thanked 4 Times in 4 Posts
Rep Power: 14
Old Sailnet order
PMFBI...but of course not. Marine.com didn''t buy any obligations, they just bought computer files and ''content''. They would like to have your ''good will'' but would rather start fresh rather than earn it back. I would wager the folks who bought the "sail business" didn''t accept any financial obligations, either. Sadly, they all get to start fresh while you are called an ''unsecured creditor'' by the court and offered a small (empty) bag to hold.
I think it would be great if some of you folks who had charges assessed for orders never filled were able to pressure the bankruptcy administrator (or local DA) to look into how much money was ''invested'' but dissolved before the business went away. You might even have a shot at recovering a portion of your funds. But that normally isn''t what happens; instead, the typical dynamic is that small losses don''t generate much (individual) effort, while samll losses (accumulated) provide big ill-gotten gains.
If you just run the numbers, someone(s) collected a lot of cash the last few years of Sailnet''s operation. My bet is that the court and the DA know this but are wondering if it''s worth their time.