Alternatives to ShareIt/MyCommerce/Digital River

[virtualdj]

This being a carefully orchestrated scam, writing to the liquidator will not wield any results, and as others have said, even if it would, you would not see anything moving before several months.
The only way everyone could get some money back, would be through a criminal proceeding, but this would require a motivated lawfirm, and would also take a long time.
We looked quickly but didn't find any lawfirm willing to take this case, and since we only lost 300k, we decided not to spend more time on this, but if anyone find a lawfirm who wants to go the criminal route, we'd be happy to help contribute.

[buttermilk]

Everyone here suggesting that you should accept the losses or stop investing time in this issue is clearly joking and acting in their own self-interest. If you give up now, it only means they’ll have a better chance to recover some money later.
Debts must me paid, period!

[OliverDocklight]

Btw, seems that former DR employees have a very unique view about what the losses are:
https://www.linkedin.com/feed/update/ur ... 378945024/
"Digital River was more than just a company—it was a family, a place where we built lasting relationships, tackled challenges together, and shared unforgettable moments. With the recent dissolution of DR and the sudden way it ended for so many, the loss feels profound.". Well, I guess...

[Pozo]

Everyone here suggesting that you should accept the losses or stop investing time in this issue is clearly joking and acting in their own self-interest. If you give up now, it only means they’ll have a better chance to recover some money later.
Debts must me paid, period!

That’s not true, there are very clear rules how remaining funds of an insolvent company will be distributed. I don’t think it is possible get an advantage over other creditors. All you have to do is report your claims to the law firm handling the insolvency.
But if you don’t believe me, good luck, go for it.

[Ilmar]

After all. It was a good idea to refund all orders (since 1 July 2024) while MyCommerce system was still working.

Never received any MyCommerce payments after June 2024.

Refunded all subscriptions and asked clients to re-subscribe via another partner worked really well.

Thanks for this forum. We did it well. Without this forum the Digital River may have survived.

f**k them.

[ccw]

That’s not true, there are very clear rules how remaining funds of an insolvent company will be distributed. I don’t think it is possible get an advantage over other creditors. All you have to do is report your claims to the law firm handling the insolvency.
But if you don’t believe me, good luck, go for it.

Do you know the contact info of the the law firm handling the insolvency?

[buttermilk]

This guy is just another joker. There’s a clear difference between accepting losses and moving on, and filing your claims with a legal entity. Obviously, the more claims there are, the lower the chances of any recovery. So, don’t believe anyone telling you to simply accept the losses.

[Henna]

That’s not true, there are very clear rules how remaining funds of an insolvent company will be distributed. I don’t think it is possible get an advantage over other creditors. All you have to do is report your claims to the law firm handling the insolvency.
But if you don’t believe me, good luck, go for it.

Do you know the contact info of the the law firm handling the insolvency?

For Germany you can find the information here: https://neu.insolvenzbekanntmachungen.de/ap/suche.jsf

[Pozo]

This guy is just another joker. There’s a clear difference between accepting losses and moving on, and filing your claims with a legal entity. Obviously, the more claims there are, the lower the chances of any recovery. So, don’t believe anyone telling you to simply accept the losses.

I didn’t mean you shall not submit your claims. I meant you should make peace with the fact that probably you will not get much of it back ever.

[ccw]

I have a solution. Please advise whether it is feasible.

Send emails to all customers who purchased our products after the last payment of Digital River(Our case is May, 2024) to:

1. Chargeback their orders since we do not receive the revenue, otherwise, we will not offer support or upgrade.
2. Re-buy our products from our new payment gateways.

I recall that a chargeback can be performed even after 6 months of the purchase.

[buttermilk]

But then, the insolvency administrator will reach out to you and demand payment for all outstanding platform fees, support hours, and other charges. And guess what? You’ll have to pay them, or they’ll seize control of your bank account - the one you likely shared during the KYC process.

[virtualdj]

But then, the insolvency administrator will reach out to you and demand payment for all outstanding platform fees, support hours, and other charges. And guess what? You’ll have to pay them, or they’ll seize control of your bank account - the one you likely shared during the KYC process.

That's assuming 100% of the users do the chargeback.
IRL, you will never get all of them to bother with their bank, so you should still have a positive balance in the end, albeit much smaller.

That being said, this is probably a terrible idea, unless you have a high-price product and a very small number of B2B customers that you can talk personally to each ones.
Otherwise, if you're B2C with many customers, and mass-email them to chargeback, you're basically passing down the burden of your mistake (ie deciding to trust DR) to your customers.
That's going to have a very bad impact on your brand and reputation.

[Henna]

I have a solution. Please advise whether it is feasible.

Send emails to all customers who purchased our products after the last payment of Digital River(Our case is May, 2024) to:

1. Chargeback their orders since we do not receive the revenue, otherwise, we will not offer support or upgrade.
2. Re-buy our products from our new payment gateways.

I recall that a chargeback can be performed even after 6 months of the purchase.

Don't think this would work since the MyCommerce system is shut down, the bank accounts at least in Germany - will be handle by the "Insolvenzverwalter" and kind of be frozen for normal activities and everything goes over the "Insolvenzverwalter" only. So I guess in these cases chargebacks won't work. Unfortunately.

[Christian67587]

I contacted them here in Germany. The German company is in preliminary insolvency. They expect to start the proceeding in April and then send letters to all the debtors. Then we can register our claims with a specific form and include the proofs. There will be a deadline, but not sure how long the duration will be set by the court (the range is 2 weeks to 3 months).

If you miss the deadline, you may get excluded from any payout on the end of the insolvency.

No worries, someone here will get a letter and can post the dates.

PS: They should know all the debtors and all the unpaid invoices (if DR didn't delete their databases), but they may still ask everyone to go through the formal stuff to filter out everyone who is not interested to take part.

[DesertNomad]

As vendors, we should all go to this event on April 30 in Minnesota.

"If you were part of DR in any way—past or recent—you’re invited. Let’s heal, remember, and celebrate the good times."

Details:
https://www.linkedin.com/feed/update/ur ... 775989249/

RSVP:
https://docs.google.com/forms/d/e/1FAIp ... A/viewform