Metropolis is Suing Voldemort 5 5

[jaybuck43]

1 minute ago, Jaydogrules said:

I've already said I don't know that.  Nor could I if the proceedings were sealed.

And again, it doesn't take Sherlock Holmes to follow the bread crumbs that I have already specified to the most likely conclusion.  

-J.

While proceedings could theoretically be sealed, the case is NOT.  In other words, it would be listed in a Florida court.  It's not, meaning it does not exist.  Thus no bankruptcy filing.

[Jaydogrules]

1 minute ago, jaybuck43 said:

While proceedings could theoretically be sealed, the case is NOT.  In other words, it would be listed in a Florida court.  It's not, meaning it does not exist.  Thus no bankruptcy filing.

 I'm not so sure about that.  

And again, if your best case scenario is Voldy sold to Beckett to resolve its insolvency, or they did it through a bankruptcy, it's essentially a distinction without a difference.

-J.

[justafan]

33 minutes ago, kimik said:

True, but at that point it is usually just pennies on the dollar as the owners have cut a deal to "sell" the assets into a new company/new owner where the owner(s)/key persons mysteriously end up working at doing the same thing. It happens in the oil patch and construction industry all the time.

 it tends to happen a lot with govt contracting where the cleared personnel or software developers are a significant portion of the intellectual asset. they arent necessarily sold but in many cases to encourage them to remain with the new company the key personnel are given raises, bonuses or contracts.   in voldys case the trained and knowledgeable grading, restoration, and pressing, would be the key personnel Beckett would want to try and maintain, unless beckett has already been hiring and training their own resources.

some of the other assets that could have been sold:

real estate property, unless Voldy rented their space.

encapsulation machines

encapsulation supplies

pressing machines

grading/restoration tools

voldys slab database of graded comics, notes, and cert numbers

Web domain

and of course the name or licensing

I suppose much of that could be just liquidated if Beckett already has a setup grading vault in Texas and doesn't plan on maintaining the name.

 

[jaybuck43]

1 minute ago, Jaydogrules said:

 I'm not so sure about that.  

And again, if your best case scenario is Voldy sold to Beckett to resolve its insolvency, or they did it through a bankruptcy, it's essentially a distinction without a difference.

-J.

No-one said anything about resolving insolvency.  Where do you get this stuff?  He sold to Beckett to AVOID a debt.  He's probably going to lose in arbitration.  He doesn't want to pay Metro (for whatever reason), so to AVOID paying a lose he believes to be coming, he allegedly structured a sale to Beckett to keep all their assets, goods, employees, etc. BUT leave only debts and liabilities to the old company.  So that if/when they lose in arbitration, Metro collects nothing (or collects pennies on the dollar).  There is a MAJOR difference.  If Voldy DID sell through bankruptcy, Metro would have filed as a judgement creditor and gone right to the head of the line AND had the ability to vet the sale to Beckett and block it.  

[GACollectibles]

18 minutes ago, Jaydogrules said:

 

And again, it doesn't take Sherlock Holmes to follow the bread crumbs that I have already specified to the most likely conclusion.  

-J.

No you haven't.  You have stated, repeatedly, that it is in fact the conclusion.

You may want to change your tune to "I think they (insert whatever jargon you want here)", not a statement of fact of which you arrived via speculation..

Edited May 11, 2018 by GACollectibles
underlined

[Jaydogrules]

8 minutes ago, jaybuck43 said:

No-one said anything about resolving insolvency.  Where do you get this stuff?  He sold to Beckett to AVOID a debt.  He's probably going to lose in arbitration.  He doesn't want to pay Metro (for whatever reason), so to AVOID paying a lose he believes to be coming, he allegedly structured a sale to Beckett to keep all their assets, goods, employees, etc. BUT leave only debts and liabilities to the old company.  So that if/when they lose in arbitration, Metro collects nothing (or collects pennies on the dollar).  There is a MAJOR difference.  If Voldy DID sell through bankruptcy, Metro would have filed as a judgement creditor and gone right to the head of the line AND had the ability to vet the sale to Beckett and block it.  

What you're describing is ONE possible scenario- the most favourable one, naturally. But you've missed a few beats-

It's possible metro had not yet realized any actual damages at the time Voldy became insolvent and went bankrupt.  

And if Voldy's insolvency was resolved though the sale to Beckett on the down low then Metro would have been screwed from the beginning  (which is what this suit appears to be about).

-J.

Edited May 11, 2018 by Jaydogrules

[Jaydogrules]

4 minutes ago, GACollectibles said:

No you haven't.  You have stated, repeatedly, that it is in fact the conclusion.

You may want to change your tune to "I think they (insert whatever jargon you want here)", not a statement of fact of which you arrived via speculation..

Ok! 

-J.

[joeypost]

18 minutes ago, 1Cool said:

Thanks for giving us some real world info about what you are seeing from a major submitters perspective.  Have your customers voiced a doubt about the Beckett buy out being a reason for the switch?

I am sure Voldy having their own in house service has had something to do with it, but the regulars I have that switched over to Voldy when they opened, have for the most part gone back to CGC. When  I ask "Why the change ?" has to do with prices realized as the reason.

[jaybuck43]

8 minutes ago, Jaydogrules said:

What you're describing is ONE possible scenario- the most favourable one, naturally. But you've missed a few beats-

It's possible metro had not yet realized any actual damages at the time Voldy became insolvent and went bankrupt.  

And if Voldy's insolvency was resolved though the sale to Beckett on the down low then Metro would have been screwed from the beginning  (which is what this suit appears to be about).

-J.

I haven't missed any beats.  Metro does not need to realize any damages at any time.  It's an arbitration for breech of contract, the breech could benefit me and I can STILL sue and recover for it.  Damages are not necessary in a breech case.    

[Logan510]

47 minutes ago, Jaydogrules said:

 I'm not so sure about that.  

And again, if your best case scenario is Voldy sold to Beckett to resolve its insolvency, or they did it through a bankruptcy, it's essentially a distinction without a difference.

-J.

You're really far off, I mean...way way off.

Please don't take that personally because it's not intended that way.

[Ryan.]

38 minutes ago, GACollectibles said:

56 minutes ago, Jaydogrules said:

 

And again, it doesn't take Sherlock Holmes to follow the bread crumbs that I have already specified to the most likely conclusion.  

-J.

No you haven't.  You have stated, repeatedly, that it is in fact the conclusion.

You may want to change your tune to "I think they (insert whatever jargon you want here)", not a statement of fact of which you arrived via speculation..

Oh no, you've been sucked into the vortex. 

[GACollectibles]

1 minute ago, Ryan. said:

40 minutes ago, GACollectibles said:

58 minutes ago, Jaydogrules said:

 

And again, it doesn't take Sherlock Holmes to follow the bread crumbs that I have already specified to the most likely conclusion.  

-J.

No you haven't.  You have stated, repeatedly, that it is in fact the conclusion.

You may want to change your tune to "I think they (insert whatever jargon you want here)", not a statement of fact of which you arrived via speculation..

Oh no, you've been sucked into the vortex. 

Did you realize our waitress never got back to us about reporting that tipped over deviled egg to her manager?

[Ryan.]

4 minutes ago, GACollectibles said:

Did you realize our waitress never got back to us about reporting that tipped over deviled egg to her manager?

You're right. They should have been comped. She completely ruined the presentation.

[comicwiz]

2 hours ago, Jaydogrules said:

for all your various shill accounts you post under

If you know them, sharing that information would be more helpful for the community than anything you have shared.

[zosocane]

On 5/8/2018 at 1:41 PM, HENRYSPENCER said:

It's $15k in damages no way in heck it's headed for a "jury trial".

 

 

The reason for the $15,000 threshold is to show that the amount in controversy for the claim exceeds the max limit for a case to be handled by a Florida small claims court.  The suit alleged damages in excess of $15,000, so that means that a regular Florida trial court (i.e., a circuit court) can hear the case.  Metro's lawyer didn't file the lawsuit in federal court under diversity of citizenship, which has a minimum amount in controversy threshold of $75,000 if the parties are from different states, which tells me the amount Metro is seeking is somewhere in between $15K and $75K.  But, who knows.

Edited May 11, 2018 by zosocane

[zosocane]

8 hours ago, seanfingh said:

The complaint on its face describes a classic fraudulent transfer scenario (not that I am suggesting this is what happened): Company A owes Company B money for whatever reason.  Company A doesn't want to pay. Company A sells all of its assets to Company C and tells Company B to "go pound salt, get your judgment, we don't own anything." Company B files an action seeking to set aside the sale as it was done, not for a legitimate business purpose, but for the purpose of defrauding (putative) creditors.     

[shadroch]

Beckett has been around a long long time. What is their reputation? Do they have a history of sleazy purchases, or even questionable ones?

I know Steve B. certainly doesn't.

[shadroch]

Beckett has been around a long long time. What is their reputation? Do they have a history of sleazy purchases, or even questionable ones?

I know Steve B. certainly doesn't.

[Foley]

10 hours ago, shadroch said:

I can't help but conclude you have a very strange relationship with the truth. 

That's custom title material if I ever saw it.

[Cat]

9 hours ago, Jaydogrules said:

I've already said I don't know that.  Nor could I if the proceedings were sealed.

And again, it doesn't take Sherlock Holmes to follow the bread crumbs that I have already specified to the most likely conclusion.  

-J.

I believe Sherlock would refuse your case, and resent the mention of his name...