[Asterisk-Users] LiveVoip is Bankrupt

[Alexander Lopez]

> -----Original Message-----
> From: asterisk-users-bounces at lists.digium.com 
> [mailto:asterisk-users-bounces at lists.digium.com] On Behalf Of 
> trixter http://www.0xdecafbad.com
> Sent: Sunday, June 26, 2005 4:21 PM
> To: Asterisk Users Mailing List - Non-Commercial Discussion
> Subject: Re: [Asterisk-Users] LiveVoip is Bankrupt
> 
> On Sun, 2005-06-26 at 11:32 -0700, Brian Litzinger wrote:
> > Anytime a small new organization asks for up front payment, 
> I wonder 
> > about a locally famous case.
> > 
> > Back in the days of beepers, a local company was selling beeper 
> > service for about 30% less than anyone in exchange for a relatively 
> > good portion of payment up front.  Can't remember if it was
> > 3 months or 1 year.  May have been both.
> > 
> > They collected up the payments and paid the money out in 
> huge salaries.
> > 
> > Then they went bankrupt.  It is apparently difficult for bankruptcy 
> > courts to recover salary payments.
> > 
> > It is apparently a well known scam executed in a number of 
> different 
> > ways.
> 
> I recall a case against someone in New York City where a lady 
> was doing that with travel, selling cruises below her cost, 
> etc.  Presales upto 6 months ahead went to pay for tickets 
> today.  She paid herself $100k for her services.  They 
> indicted her on fraud becuase it is illegal to sell stuff 
> below cost, knowing that you cant possibly make good on what 
> you sell.  
> 
> Perhaps the same could be true of livevoip for anyone that 
> lost any big amount of money for prepayment on services they 
> couldnt render.  And certainly for payments where the 
> 'writing was on the wall', ie they knew they were going to 
> file bankrupcy yet accepted payments for months they knew 
> they wouldnt be in business.
> 
> 
> -- 
> Trixter http://www.0xdecafbad.com     Bret McDanel
> UK +44 870 340 4605   Germany +49 801 777 555 3402
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If I recall recently LiveVoIP touted it 'merger' with a large
corporation (daddy BigBucks). I also remember that it was posted that it
was not in the best interest of LiveVoip to move forward on the merger.
In hind sight this is probably the result of the due-diligence done on
the larger corporation's side. Citing non-disclosure and other standard
agreements entered during transactions such as these it does not
surprise me that we (the customers) were not told about the writing on
the wall..



Alex