Re: [ga] Abusing consensus in the Transfers TF

[eric <eric@hi-tek.com>]

This is quite interesting.
Can someone point to a non-profit public benefit corp that has gone bankrupt?

Eric

Dan Steinberg wrote:

> ummmmm again reiterating that I dont even play a bankrupty specialist on TV, the
> relevance is fairly simple.
> Every asset (with exceptions natch or it would be too easy) of someone who is
> bankrupt....is potential $$$ for the creditors.
> A domain name...is an asset. The value of said asset can vary greatly, just like
> listing 'car' as an asset can mean anything from a 15 year beater than can only
> start going downhill to a $500k supercar, the value of a domain name....might be
> something significant to creditors. And it does not matter who the creditors
> are, banks, finance companies, registrars, etc. It's the relevant bankruptcy law
> that governs how allllll the assets are divided up among the creditors.  The
> 'vested interest' has to get in line with the rest of the unsecured creditors
> and hope for something left over after the secured creditors have been fed.
> Attempting to do anything else via contract constitutes an attempt to circumvent
> law, which is usually frowned upon.
>
> Hope this is a bit clearer.
>
> "Ross Wm. Rader" wrote:
>
> > > Second, if issues relating to bankrupty are going to be publically
> > discussed at
> > > all, I would suggest that bankruptcy specialists from the relevant
> > jurisdictions
> > > be called in to provide at least an overview of the applicable issues.
> > FYI,
> > > every jurisdiction that I know of (and I know so little about bankruptcy
> > that I
> > > refuse to even play a bankruptcy specialist on TV) has laws that look at
> > (and in
> > > some cases rolll back)  financial transactions of people as they sink to
> > prevent
> > > siphoning off assets that might otherwise be divided among creditors.
> >
> > It is a murky issue, but I fail to see the relevance. The clause in question
> > states:
> >
> > "Instances when the requested change of sponsoring Registrar may be denied
> > include, but are not limited to:
> > ...
> > 2) A pending bankruptcy of the Registered Name holder
> > ..."
> >
> > If the losing registrar has been identified as a creditor in a company that
> > is in the process of declaring bankruptcy, the losing registrar has a
> > legitimate vested interest in ensuring that it's "soon-to-be-asset" isn't
> > transferred out to another registrar until such time that the actual
> > structure of the bankruptcy is declared and the asset details can be sorted
> > out by the relevent agencies.
> >
> > It might be appropriate to include the rest of the TF in further discussions
> > on this subject to ensure an even distribution of issue data.
> >
> > -rwr
>
> --
> Dan Steinberg
>
> SYNTHESIS:Law & Technology
> 35, du Ravin  phone: (613) 794-5356
> Chelsea, Quebec  fax:   (819) 827-4398
> J9B 1N1                 e-mail:synthesis@videotron.ca
>
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