Alternatives to ShareIt/MyCommerce/Digital River

[sft234]

Taken from the report on the creditors' meeting on July 30:

Merchant claims: 77.852.649,63 €
Free assets: 700.898,79 €

Liquid assets: 2.540,00 €

So the available assets in relation to the claims (owed money to merchants) is not even 1%.
And this even before subtraction of the procedural costs.

So forget about getting any money

[Tone2 Synthesizers]

In Germany, in the event of delayed insolvency, the managing director is liable to the debtors.

[divinglog]

Today I've received a letter from AndresPartner with an "Insolvenztabelle". My claims are fully recognized, but of course that means nothing if there is no money left. So we have to wait and see.

[jonjbar]

Today I've received a letter from AndresPartner with an "Insolvenztabelle". My claims are fully recognized, but of course that means nothing if there is no money left. So we have to wait and see.

Same here, received the letter yesterday recognizing my claims. Eagerly waiting for my 0.01€ share

[Touch The Universe]

So how much money did they end up just straight up blatantly stealing? It seems kind of odd that this can just happen why not just everybody just create a company and then just instead of spending 1020 years to make 50 million hundred million just steal it all in one go

[virtualdj]

I guess in our case, we're lucky that they refused to recognize our claim.
Now we can sue them for copyright infrigment and piracy, which is penal and not civil, and not protected by bankruptcy.

[quikquak]

In Germany, in the event of delayed insolvency, the managing director is liable to the debtors.

You may have to be careful about the definition of ‘debtors.’ If they borrowed money to support this badly run and terrible company, then they get paid first. ‘Clients’ are at the bottom. It’s usually the same with staff.

[sft234]

So now the game is over? They tell you that they accept your claims to the full amount - and now?
That's it?

[DRscam-v1]

They owe me 15K. So over? They walked away and were gone?

[Touch The Universe]

I guess in our case, we're lucky that they refused to recognize our claim.
Now we can sue them for copyright infrigment and piracy, which is penal and not civil, and not protected by bankruptcy.

Dang, how does that work? Yes, they received the payment and didn't pay (is this piracy?) but you were selling your product on your site.

[virtualdj]

I guess in our case, we're lucky that they refused to recognize our claim.
Now we can sue them for copyright infrigment and piracy, which is penal and not civil, and not protected by bankruptcy.

Dang, how does that work? Yes, they received the payment and didn't pay (is this piracy?) but you were selling your product on your site.

this still needs to be confirmed by the lawyers, but basically, you sue them for piracy for those missing sales. as per the contract between DR and you, DR can ask the vendor (you) to defend them in the lawsuit. but since they didn't recognize the claim, they cannot hold you accountable for those sales, so they have nobody to turn to to take responsability for the piracy lawsuit, so they're accountable. penaly.

[quikquak]

They went for a Chapter 7 - liquidation bankruptcy!
Apparently they are $45.2 million in secured debt and less than $50,000 in assets.
I don't know how they'll pay the 'secured debt' - I'm not sure how that works.

I thought the were a successful company, how could they f**k up so badly? I mean it's a good business model. Although there will probably be no investigation into it.

[alexcmn1]

It appeared that I need to have a document - information about transfer made from Digital River Gmbh to my company's account. Can anybody suggest the contact which could help with it? I suppose liquidation company can help with it?