They arent the only one either. Theres a couple companies that are ticking time bombs of order from at your own risk people continually send money too.
Theres enough places to order from now with the internet that no one should risk it with a company that has been down this route before
I know if I was buying bullion to stack, which I would NOT be fond of... but I would pay with a credit card for my orders. Forget the wire transfer etc, charge me the fees, I dont care, I can pay the balance in full, I dont care about saving a small %, at least I have recourse if you dont send me my stuff.
Quote: Clawbacks by bankruptcy courts are quite common and may apply here, so people that think that they missed the bullet when Tulving finally sent them their metal or wrote them a check may not be out of the woods yet.
This is important information. Do you know if there is a time limit (weeks, months, years) of a clawback?
Regarding clawbacks in this case, the date I saw referenced was December 9th, 2013.
Tulving's bankruptcy filing was March 10, 2014. Soooooo.... Based just on those dates it looks like there is a 90 day window where transactions in that time frame may be subject to clawback. Check with your lawyer.
There is a mid-September 2014 "drop dead" date if anyone needs to be listed as a creditor in the Tulving bankruptcy. The last I looked, the liabilities have exceeded 5M$ as of July 10.
Wow! I reckon this is more of a common problem with the falling PM industry than I know about. It is way outside my experience in other collectables area which I have a very reasonable understand about.
It sounds like I got my PM $$$'s from elsewhere in a very timely manner.
A lot of what I have read with the link gives, sounds like a situation I was in. I am so glad that I........Wow! All the $$'s I could of lost!
Reading the bankruptcy docket, they're history, motion to convert to Chapter 7 (liquidation) was granted on 5/29. With the business records all seized as part of a criminal probe, no hope of reorganization.
Assets are around 370K, liabilities at least the $5M cited and so what little is left will be sucked dry by the legal and consultant fees, leaving nothing for the creditors. 100 claims as of 7/1...
-----Burton
50+ year / Life / Emeritus ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club
Owned by three cats and a wife of 40+ years (joined 1983)
Will be interesting to see how Tulving himself comes out of all this after the dust clears. So far, he's been a "Teflon man" in all previous proceedings the past 30 years.
Quote: Will be interesting to see how Tulving himself comes out of all this after the dust clears. So far, he's been a "Teflon man" in all previous proceedings the past 30 years.
Now if he'd actually labeled boxes with shipping addresses and sent stuff out to people that paid for it he'd probably not be in the major pickle he finds himself in today!
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Posted 03/18/2014 9:50 pm
