Alternatives to ShareIt/MyCommerce/Digital River

[alexgn]

Why not just start a Google Spreadsheet and ask others who are affected and interested in a combined lawsuit to add their information

[PSP]

f**k them.

[buttermilk]

They had a fixed profit from each transaction, easy business.
How come they have financial issues?
What was the salary for the board?
Super boring...

[sft234]

even more so as this smells strongly of a planned bankruptcy while pretending everything was ok.

Yes - this supposition is supported by the fact that they didn't seem to care at all merchants leaving the platform in hordes, which are/were their only income source. They didn't try to stop the exodus by communicating. They took no measures at all to stop it like talk to the merchants, inform them about maybe just temporary financial constraints, maybe intervene here in this forum thread explaining the situation. They just let it happen. As if this would not have mattered anyway from the beginning on.

Plus some (who maybe had board insight) here on KVR and too on thelayoff predicted the exact date DR would file for insolvency already in October of last year, which has become true now spot on the predicted date.

So this all are clear signs of planned bankruptsy. And this is a crime. Also that they lied to the customers pretending everything is fine, just temporary issues, until they - at least for some who weren't on this forum - out of nothing delared bankruptsy on January 27th. Until this day they've let the business run and took orders and money.

Both of this is a crime in German right, which lets all limited liability fall away.

[sft234]

https://tcbmag.com/minnetonka-based-e-c ... shut-down/

Digital River Inc., a Minnetonka e-commerce firm that sold for over $800 million a decade ago, is shutting down.

In a Jan. 27 WARN letter to the Minnesota Department of Employment and Economic Development, CEO Barry Kasoff told state officials that the company is laying off 122 employees and permanently closing its offices. The layoffs, which will be effective March 28, are permanent, he said.

[buttermilk]

Sorry, but it hasn't been listed at:
https://data.usatoday.com/see-which-com ... -closings/

https://tcbmag.com/minnetonka-based-e-c ... shut-down/

Digital River Inc., a Minnetonka e-commerce firm that sold for over $800 million a decade ago, is shutting down.

In a Jan. 27 WARN letter to the Minnesota Department of Employment and Economic Development, CEO Barry Kasoff told state officials that the company is laying off 122 employees and permanently closing its offices. The layoffs, which will be effective March 28, are permanent, he said.

[sft234]

[quikquak]

MSN news: Closing in March….

https://www.msn.com/en-us/video/money/d ... i-AA1y2dto

[virtualdj]

If we get enough people together and the total amount owed to us is large enough, we should be able to get proper interest from law firms in the US and Germany to look into our case.

That's not how it works. law firms don't take interest in cases pro-bono just because it has "enough people".
But paying a law firm to file to sue on behalf of a few of us, on the ground of illegal planned bankruptcy, will not be that expensive, and will help to understand what are our chances (Kasoff seems to have a lot of experience doing this kind of fraud, so it might be hopeless, but we will never know unless we start). If it looks successful then we'll add everyone here to the case.

I myself thankfully didn't loose that much, around 250k, because we stopped using mycommerce a long time ago and only had a few lingering recurring subscriptions still processed by them.
But just for the sake of justice, we're ready to help financially with the lawsuit (and we're probably not the only ones).

We just need someone local who has the time to be the main point of contact with the law firm.
Any volunteer?

[csjanos]

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If we get enough people together and the total amount owed to us is large enough, we should be able to get proper interest from law firms in the US and Germany to look into our case.

That's not how it works. law firms don't take interest in cases pro-bono just because it has "enough people".
But paying a law firm to file to sue on behalf of a few of us, on the ground of illegal planned bankruptcy, will not be that expensive, and will help to understand what are our chances (Kasoff seems to have a lot of experience doing this kind of fraud, so it might be hopeless, but we will never know unless we start). If it looks successful then we'll add everyone here to the case.

I myself thankfully didn't loose that much, around 250k, because we stopped using mycommerce a long time ago and only had a few lingering recurring subscriptions still processed by them.
But just for the sake of justice, we're ready to help financially with the lawsuit (and we're probably not the only ones).

We just need someone local who has the time to be the main point of contact with the law firm.
Any volunteer?

Our company has suffered damages of nearly 400,000 EUR due to unpaid amounts.

We have hired a German lawyer to represent us. Our company have been informed that we need to wait a bit until it is officially visible on the Insolvency Announcements Portal (https://neu.insolvenzbekanntmachungen.de/ap (https://neu.insolvenzbekanntmachungen.de/ap)).
After that, we will be able to take further steps.

Presumably, a temporary insolvency administrator will be appointed, who will assess the remaining assets, such as cash, real estate, and insurance. Following this assessment, creditors (including us) will be notified to submit our claims.
There will be a time window for submitting these claims.

Afterward, each claim will be examined individually for its legal basis and amount. If the claim is undisputed and there are remaining funds in the company, creditors will eventually receive their payments.

The insolvency administrator will be independent of Digital River and will most likely be a German lawyer who must report strictly to the German court.

If you’d like, I can share their contact details, as it might be more efficient for everyone’s case to be handled centrally by one person.

[quikquak]

You might want to post this in the 'Lawsuit' thread:
viewtopic.php?t=614929&start=345

[mycommerce-action]

If we get enough people together and the total amount owed to us is large enough, we should be able to get proper interest from law firms in the US and Germany to look into our case.

That's not how it works. law firms don't take interest in cases pro-bono just because it has "enough people".

Maybe poorly phrased. Written in a hurry. Of course, the number of people is irrelevant. The total is relevant though, and I guess may easily surpass say €20M.

I myself thankfully didn't loose that much, around 250k, because we stopped using mycommerce a long time ago and only had a few lingering recurring subscriptions still processed by them.
But just for the sake of justice, we're ready to help financially with the lawsuit (and we're probably not the only ones).

Same including ready to help financially with the lawsuit for the sake of justice. In our case amount is less, €50K, as we only used them for an old product and individual renewals only, not subscriptions. We have been using Stripe for years for the real stuff.

[mycommerce-action]

Deleted duplicate post... Cannot see how to actually delete

[alexcmn1]

csjanos, what is the purpose of your legal action?
I guess virtualdj means that there should be opened a criminal case, not just a queue of creditors for remaining assests.

If criminal case is opened and court will decide DR management is guilty, fancy houses of Barry and Keith can be confiscated, and it could really cover some losses.

[ssec]

The lingering question is why some vendors were partially paid after July and some were not, what was the criteria. There does not seem to be a specific criteria. Did they pay everyone in Germany / USA?