buck naked
Footballguy
Yes. You might only do something (file a Proof of Claim) if he owed you $. If he doesn't, then no need to do anything.ebsteelers said:
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Phenoms going under (1 Viewer)
- Thread starter JohnW1970
- Start date
hamhocs
Footballguy
Did you ever find an answer for this?
The requirements on the Sign Up page are :
password
Team Name
First Name
Last Name
Everything else is optional.
I am from Canada and just got this letter. I am owed prize winnings but have no idea how to proceed from up here. What do I have to do? I can't go to US to get forms or file anything. I have no idea about US law and how it works.
Is this going to be worth my time and effort?
Is this going to be worth my time and effort?
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Dragon1952
Footballguy
The forms are available online (check his website or Google 'Proof of Claim') and you can mail them in.
The great ones
Footballguy
This PHENOMS situation got me thinking about Leaguesafe. How easy would it be to pull the following scam on Leagusafe:
--you set up a Yahoo or CBS fantasy league
--you fill 5 of the 12 slots with close friends or relatives, in addition to yourself as commissioner
-- at the end of the season, the commissioner sets the winnings out completely different from what it should have been
--even with "majority vote", the winners are unable to block the commissioner and the 5 other conspirators from running off with the money at the end of the season.
Assuming a large enough entry fee, how easy would it be to pull a scam like this, even in a League with Leagusafe and majority votes?
--you set up a Yahoo or CBS fantasy league
--you fill 5 of the 12 slots with close friends or relatives, in addition to yourself as commissioner
-- at the end of the season, the commissioner sets the winnings out completely different from what it should have been
--even with "majority vote", the winners are unable to block the commissioner and the 5 other conspirators from running off with the money at the end of the season.
Assuming a large enough entry fee, how easy would it be to pull a scam like this, even in a League with Leagusafe and majority votes?
ConnSKINS26
Footballguy
If you can find a family/group of friends with 6-7 dirtbags, sure.
But how much would the buy-in have to be to make it worth it for 6-7 people to all be in on it and split the profits? Not worth the effort unless you're talking relatively large buy-ins, which are harder to fill.
fridayfrenzy
Footballguy
Bruce Hammond
Footballguy
Seems to me a guy would just have to set up a half dozen aliases and email accounts. No need for co-conspirator friends.
fantasycurse42
Footballguy Jr.
Dr. Octopus
Footballguy
So not only are you looking to swindle innocent strangers, but now you're also looking to cut your family and friends out from their shares as well? That's cold, man.Bruce Hammond said:
Bruce Hammond
Footballguy
Nah, not me. That was a good comeback though.
I'm too lazy to go to the effort for something small for a few bucks, and have too much conscience to do something big that wouldn't let me sleep at night. I'd rather die a poor honest man than a wealthy crook.
The great ones
Footballguy
The guy who came up with the 6 dummy emails idea is a set ahead of me I guess. Anyhow I wrote to Leaguesafe and they say the best thing to do in such an event is notify them so that they can monitor the league themselves. Thanx for your responses.
Back to the point:
Anyone going to the bankruptcy hearing later this month?
Do we know yet which company was paid the 600 Grand?
Back to the point:
Anyone going to the bankruptcy hearing later this month?
Do we know yet which company was paid the 600 Grand?
The great ones
Footballguy
You laugh. But surely, even if there was some sort of fraud involved, 600 grand must have been paid to SOMEONE. Maybe it's just his wife or cousin running some dummy company if we want to be paranoid.
But there must be a 600 grand payment? (In installments at least?)?right??? I mean even if it's a scheme; there must be at least a little sophistication or laundering to it. No??
Otherwise the FBI would be all over him? Rigghhht?????
But there must be a 600 grand payment? (In installments at least?)?right??? I mean even if it's a scheme; there must be at least a little sophistication or laundering to it. No??
Otherwise the FBI would be all over him? Rigghhht?????
No payment to anyone, money gambled away and blown by Mike, no FBI, no jail time.
The great ones
Footballguy
I'm not sure how we could think he gambled it away. There isn't much evidence that he gambled it away or what he did with it. There needs to be an investigation to determine the money trail.
Won't the Banruptcy Court ask to look at the books?
If he did gamble it away, but tells the Court he made a 600k payment to a software engineer. That would be perjury, on top of embezzlement and wire fraud.
Won't the Banruptcy Court ask to look at the books?
If he did gamble it away, but tells the Court he made a 600k payment to a software engineer. That would be perjury, on top of embezzlement and wire fraud.
The great ones
Footballguy
If there is some good news in this, it is that the FBI named Salt Lake City one of its top 5 cities for fraud, alongside much much larger cities. So the FBI in Utah must have a lot of experience with these kinds of allegations.
I was just doing some research on some "stock guru" called Roger Bliss who ran an LLC out of Utah which expired in May of 2014. Interestingly, he managed to convince investors to fork over millions, claiming he had never made a losing trade in 5 years of day trading Apple Stock.
Sec filed a lawsuit 4 days ago. Apparently his never-saw-the-losing end of a trade legacy has got his bank account at........wait for it......32,400. Lol
What is it about Utah? I will forever be suspicious of any LLC or Ebayrr or Paypaler operating out of that state.
I was just doing some research on some "stock guru" called Roger Bliss who ran an LLC out of Utah which expired in May of 2014. Interestingly, he managed to convince investors to fork over millions, claiming he had never made a losing trade in 5 years of day trading Apple Stock.
Sec filed a lawsuit 4 days ago. Apparently his never-saw-the-losing end of a trade legacy has got his bank account at........wait for it......32,400. Lol
What is it about Utah? I will forever be suspicious of any LLC or Ebayrr or Paypaler operating out of that state.
Hooper31
Footballguy
When people don't know they sometimes come up with whatever story helps them sleep at night. Tell the story enough and its starts to become real. But yes, that story is as plausible as anything else.
cstu
Footballguy
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ArbyMelt
Footballguy
is this Mike's brother?
Hello Everyone,
I recently played with you in a fantasy football league at Phenoms. I usually used a team name of Dubious Disciples or Iron Horses, though I’ve used many other names as well. My name is Lee Harmon and I’ve been participating in fantasy football for over twenty years.
I’m reaching out to all of the people I’ve shared Phenoms leagues with in the last few years. I’ve been searching for a replacement on the web, and simply can’t find anything like Phenoms. Its bankruptcy has left a hole in the industry, so I’m considering offering commissioner services with similar league types, cost, prize structure, rules, and personal attention. We’ll stay with MyFantasyLeague.com, at least for now.
I feel the pain of all of you who lost money when Phenoms went under. I never joined any big-money leagues this year, but Phenoms owes me $2,300. That’s a chunk out of the pocketbook. I’d like to help you recoup at least some of your money by offering you heavily discounted entry fees for at least the first year.
Excuse the French, but what’s been happening in this industry is bull####. I will definitely be bonded, or use a service like LeagueSafe to guarantee that what happened with our money at Phenoms will never happen again.
I’m a software developer and website designer who is nearing retirement. I have the time, experience, skills, and assets to provide this service, and I want to help out. If you find this intriguing, please reply so I know, and if Phenoms owes you money, be prepared to provide details. I’d also love to hear any suggestions you have or ideas for improvement.
All the best,
Lee Harmon
DataForce, LLC
Hello Everyone,
I recently played with you in a fantasy football league at Phenoms. I usually used a team name of Dubious Disciples or Iron Horses, though I’ve used many other names as well. My name is Lee Harmon and I’ve been participating in fantasy football for over twenty years.
I’m reaching out to all of the people I’ve shared Phenoms leagues with in the last few years. I’ve been searching for a replacement on the web, and simply can’t find anything like Phenoms. Its bankruptcy has left a hole in the industry, so I’m considering offering commissioner services with similar league types, cost, prize structure, rules, and personal attention. We’ll stay with MyFantasyLeague.com, at least for now.
I feel the pain of all of you who lost money when Phenoms went under. I never joined any big-money leagues this year, but Phenoms owes me $2,300. That’s a chunk out of the pocketbook. I’d like to help you recoup at least some of your money by offering you heavily discounted entry fees for at least the first year.
Excuse the French, but what’s been happening in this industry is bull####. I will definitely be bonded, or use a service like LeagueSafe to guarantee that what happened with our money at Phenoms will never happen again.
I’m a software developer and website designer who is nearing retirement. I have the time, experience, skills, and assets to provide this service, and I want to help out. If you find this intriguing, please reply so I know, and if Phenoms owes you money, be prepared to provide details. I’d also love to hear any suggestions you have or ideas for improvement.
All the best,
Lee Harmon
DataForce, LLC
Dezbelief
Footballguy
The great ones
Footballguy
At first, I did not realize that Arby's had cut and paste that email so I thought it was kind of insensitive and it did make me think , "hey that could be Mike for all we know."
DataForce LLC? I think I'll pass after being deprived of more than 200 bucks in winnings from PHENOMS--I'm not expecting a single penny to be honest. Should I even bother to fill out the claim form?
Most likely, I and many other will stick to Draftday, Draftkings, Fanduel, CBS standard leagues, and Yahoo free leagues.
I have actually found that I can do a significant amount of customization in the Yahoo free leagues as a Commissioner. I'm not sure what kind of a "huge discount" this guy is talking about but that isn't very different from how Zangrilli promoted himself. Without Leaguesafe, I don't see how anyone does something like that, unless they are ignorant about what is happening to our hobby.
I have actually been able to join a few Leagusafe'd baseball leagues with 100% payouts; I realize now maybe PHENOMS product was not as original and unique as I thought.
If I had known just how many leagues PHENOMS had been running, I think I would have realized the greater risk of trouble. When I joined, I was under the impression that maybe he ran 50-100 leagues. I did not know it was more like a 1000! He was sitting on such a huge amount of money and I really did not know. I guess I am unsurprised if there was a temptation to take it and run.
DataForce LLC? I think I'll pass after being deprived of more than 200 bucks in winnings from PHENOMS--I'm not expecting a single penny to be honest. Should I even bother to fill out the claim form?
Most likely, I and many other will stick to Draftday, Draftkings, Fanduel, CBS standard leagues, and Yahoo free leagues.
I have actually found that I can do a significant amount of customization in the Yahoo free leagues as a Commissioner. I'm not sure what kind of a "huge discount" this guy is talking about but that isn't very different from how Zangrilli promoted himself. Without Leaguesafe, I don't see how anyone does something like that, unless they are ignorant about what is happening to our hobby.
I have actually been able to join a few Leagusafe'd baseball leagues with 100% payouts; I realize now maybe PHENOMS product was not as original and unique as I thought.
If I had known just how many leagues PHENOMS had been running, I think I would have realized the greater risk of trouble. When I joined, I was under the impression that maybe he ran 50-100 leagues. I did not know it was more like a 1000! He was sitting on such a huge amount of money and I really did not know. I guess I am unsurprised if there was a temptation to take it and run.
Hello Lee, and all ex-Phenoms players...
>>I’m reaching out to all of the people I’ve shared Phenoms leagues with in the last few years. I’ve been searching for a replacement on the web, and simply >>can’t find anything like Phenoms. Its bankruptcy has left a hole in the industry, so I’m considering offering commissioner services with similar league types, >>cost, prize structure, rules, and personal attention. We’ll stay with MyFantasyLeague.com, at least for now.
Check out: www.bestffb.com
I've played phenoms leagues for many years. They were great! The different types of leagues (Slow, Auction, Deep, IDP, Flex, Omega, Trading), the payout %-ages and scoring system. I could not wait until July to get the mags and start preparing for the season. Each week was a blast. A lot of you have played against me in these leagues, so I'm no stranger (Hurricane Surfers). I recognize Iron Horses
Like Lee says, there's nothing out there like Phenoms,...wait...
We're very serious about getting the fun and experience all started up again, and this time with the funds properly managed! League funds put into separate escrow accounts and a trustee agreement signed. The funds would be the "property of the each League's Participants". That way, we're talking fraud and jail time for anyone trying to steal the funds. That's what's needed for this business. It can't just be a "trust me" business.
As the primary owner of bestffb, this would be just supplemental income. I already have a very good paying job and a primary source of income. I have assets, real estate, and too much to lose.
Many of you will never do this again, and that is perfectly understandable. But for those of you who really had a good time playing Phenoms leagues and want to continue playing in competitive football money leagues, please visit www.bestffb.com and use the contact form to let me know what you think and any ideas you have. Everything will be ready to launch in June.
Until then, take care, and hope to hear from you.
--Alex Renko
>>I’m reaching out to all of the people I’ve shared Phenoms leagues with in the last few years. I’ve been searching for a replacement on the web, and simply >>can’t find anything like Phenoms. Its bankruptcy has left a hole in the industry, so I’m considering offering commissioner services with similar league types, >>cost, prize structure, rules, and personal attention. We’ll stay with MyFantasyLeague.com, at least for now.
Check out: www.bestffb.com
I've played phenoms leagues for many years. They were great! The different types of leagues (Slow, Auction, Deep, IDP, Flex, Omega, Trading), the payout %-ages and scoring system. I could not wait until July to get the mags and start preparing for the season. Each week was a blast. A lot of you have played against me in these leagues, so I'm no stranger (Hurricane Surfers). I recognize Iron Horses
Like Lee says, there's nothing out there like Phenoms,...wait...
We're very serious about getting the fun and experience all started up again, and this time with the funds properly managed! League funds put into separate escrow accounts and a trustee agreement signed. The funds would be the "property of the each League's Participants". That way, we're talking fraud and jail time for anyone trying to steal the funds. That's what's needed for this business. It can't just be a "trust me" business.
As the primary owner of bestffb, this would be just supplemental income. I already have a very good paying job and a primary source of income. I have assets, real estate, and too much to lose.
Many of you will never do this again, and that is perfectly understandable. But for those of you who really had a good time playing Phenoms leagues and want to continue playing in competitive football money leagues, please visit www.bestffb.com and use the contact form to let me know what you think and any ideas you have. Everything will be ready to launch in June.
Until then, take care, and hope to hear from you.
--Alex Renko
Warrior
Footballguy
Jesus...please ban this clown. He's been crapping in the shark pool with his advertisements all morning.Hello Lee, and all ex-Phenoms players...
>>I’m reaching out to all of the people I’ve shared Phenoms leagues with in the last few years. I’ve been searching for a replacement on the web, and simply >>can’t find anything like Phenoms. Its bankruptcy has left a hole in the industry, so I’m considering offering commissioner services with similar league types, >>cost, prize structure, rules, and personal attention. We’ll stay with MyFantasyLeague.com, at least for now.
Check out: www.bestffb.com
I've played phenoms leagues for many years. They were great! The different types of leagues (Slow, Auction, Deep, IDP, Flex, Omega, Trading), the payout %-ages and scoring system. I could not wait until July to get the mags and start preparing for the season. Each week was a blast. A lot of you have played against me in these leagues, so I'm no stranger (Hurricane Surfers). I recognize Iron Horses
Like Lee says, there's nothing out there like Phenoms,...wait...
We're very serious about getting the fun and experience all started up again, and this time with the funds properly managed! League funds put into separate escrow accounts and a trustee agreement signed. The funds would be the "property of the each League's Participants". That way, we're talking fraud and jail time for anyone trying to steal the funds. That's what's needed for this business. It can't just be a "trust me" business.
As the primary owner of bestffb, this would be just supplemental income. I already have a very good paying job and a primary source of income. I have assets, real estate, and too much to lose.
Many of you will never do this again, and that is perfectly understandable. But for those of you who really had a good time playing Phenoms leagues and want to continue playing in competitive football money leagues, please visit www.bestffb.com and use the contact form to let me know what you think and any ideas you have. Everything will be ready to launch in June.
Until then, take care, and hope to hear from you.
--Alex Renko
Dragon1952
Footballguy
Mike Zangrilli may be facing fraud and jail time too and that didn't stop him. I'm all for sites like yours...believe me. But this seems like an identical risk to me.Hello Lee, and all ex-Phenoms players...
>>I’m reaching out to all of the people I’ve shared Phenoms leagues with in the last few years. I’ve been searching for a replacement on the web, and simply >>can’t find anything like Phenoms. Its bankruptcy has left a hole in the industry, so I’m considering offering commissioner services with similar league types, >>cost, prize structure, rules, and personal attention. We’ll stay with MyFantasyLeague.com, at least for now.
Check out: www.bestffb.com
I've played phenoms leagues for many years. They were great! The different types of leagues (Slow, Auction, Deep, IDP, Flex, Omega, Trading), the payout %-ages and scoring system. I could not wait until July to get the mags and start preparing for the season. Each week was a blast. A lot of you have played against me in these leagues, so I'm no stranger (Hurricane Surfers). I recognize Iron Horses
Like Lee says, there's nothing out there like Phenoms,...wait...
We're very serious about getting the fun and experience all started up again, and this time with the funds properly managed! League funds put into separate escrow accounts and a trustee agreement signed. The funds would be the "property of the each League's Participants". That way, we're talking fraud and jail time for anyone trying to steal the funds. That's what's needed for this business. It can't just be a "trust me" business.
As the primary owner of bestffb, this would be just supplemental income. I already have a very good paying job and a primary source of income. I have assets, real estate, and too much to lose.
Many of you will never do this again, and that is perfectly understandable. But for those of you who really had a good time playing Phenoms leagues and want to continue playing in competitive football money leagues, please visit www.bestffb.com and use the contact form to let me know what you think and any ideas you have. Everything will be ready to launch in June.
Until then, take care, and hope to hear from you.
--Alex Renko
Dezbelief
Footballguy
lolz
Seriously, both Lee and I were Phenom's players before we got 'played' by Mike Z. One thing is indisputable, the Phenoms leagues were great and there's not much out there with a similar payout and variety. There's definitely a community of Phenom's players that want to do this again with a higher safety factor.
So the point is to let folks know there is "life after phenoms" here. Sorry if its an advertisement, yes, I'll admit it, but its also a "hey, there is something out there". That's definitely worthy of a shark pool post. Hey, if someone invented bacon-flavored ice cream wouldn't you want to know about it?
Cut me some slack please. I got taken just like everyone else on this post.
I'm no lawyer, but in order to make this "perfectly safe" requires hiring a lawyer and drafting documents for everyone to sign for each league. Then opening up bank accounts in everyone's name with more signatures. Since that can't happen the next best thing is to do something that bowling leagues have done: a "trustee" handles the prize money and sets up escrow accounts, like a landlord does for tenants. What's to stop the landlord from running away? The law, that is it. What's to stop DraftKings, FanDuel, LeagueSafe, etc from running away with funds. Absolutely nothing. What stopped "poker stars"? It does not matter how big the website is. At least I'm going to adopt the "landlord" model and use separate escrow accounts with a trustee agreement and monthly statement balances posted. The 'law' would be on the player's side. Jail time and fraud is not something that I would entertain, even for the large sum of money Phenom's took in. Its not worth it. If Mike can't pony up the $xxx,xxx, he'll probably be pounding rocks soon.
If there is a better way to do this that makes people comfortable? Maybe a monthly "audit of the books" by a 3rd party? Let us know please.
So the point is to let folks know there is "life after phenoms" here. Sorry if its an advertisement, yes, I'll admit it, but its also a "hey, there is something out there". That's definitely worthy of a shark pool post. Hey, if someone invented bacon-flavored ice cream wouldn't you want to know about it?
Cut me some slack please. I got taken just like everyone else on this post.
I'm no lawyer, but in order to make this "perfectly safe" requires hiring a lawyer and drafting documents for everyone to sign for each league. Then opening up bank accounts in everyone's name with more signatures. Since that can't happen the next best thing is to do something that bowling leagues have done: a "trustee" handles the prize money and sets up escrow accounts, like a landlord does for tenants. What's to stop the landlord from running away? The law, that is it. What's to stop DraftKings, FanDuel, LeagueSafe, etc from running away with funds. Absolutely nothing. What stopped "poker stars"? It does not matter how big the website is. At least I'm going to adopt the "landlord" model and use separate escrow accounts with a trustee agreement and monthly statement balances posted. The 'law' would be on the player's side. Jail time and fraud is not something that I would entertain, even for the large sum of money Phenom's took in. Its not worth it. If Mike can't pony up the $xxx,xxx, he'll probably be pounding rocks soon.
If there is a better way to do this that makes people comfortable? Maybe a monthly "audit of the books" by a 3rd party? Let us know please.
I'm all for ya man. A couple of pieces of advice...
1) Drop all mention of the name Phenoms. It doesn't bode well for you.
2) Don't post in the "Phenoms going under..." thread, it's rather ominous.
I get that you're trying to get your name out and bring back what might have been a vibrant community that was at Phenoms, but you should seriously stand on your name and merits alone... that may not get you the initial outpouring of support you want, but I'd bet you'll be better served long term by doing so.
It's a shame to the reputable small sites out there just trying to run a fun, fair and honest league and make a few bucks in the process, but I will NEVER play in a FF league that isn't ran by Yahoo, CBS, fanduel or draft kings. I'd never be able to fully enjoy the season no matter how good I was doing, as I'd always be thinking I could get screwed at any time.
Craig_MiamiFL
Footballguy
x1000 Couldn't agree more with everything posted above.You aren't going to get the benefit of the doubt in this thread. Or mentioning Phenoms around here. Legit or not, tt's not going to end well for you.
Footballguys has a separate Looking for Leagues forum. Please do not post advertisements in here.
Dr. Octopus
Footballguy
Maybe there's a thread in the FFA that shows a scientific link between bacon ice cream and a serious risk of death, where this guy can post an advertisement for his new "safe" bacon ice cream.
Bottomfeeder Sports
Footballguy
Wouldn't betting that he could build a platform to cut MFL out of the process for $200K be gambling? Wouldn't running the tab to 600+K be "chasing losses"? Would it really be any different if his story was true and that he took money that was holding and gambled on reinvestments in his business paying off before he had to payout that money rather than investing it in his poker skills or shorting Apple stock?
I don't know what happened, but I think his own explanation would make perfect sense for someone that had a gamblers mindset.
They can and will look at his checking accounts and see if and who the payment was made to. It will be investigated and if Mike has a decent lawyer, he would be well advised against lying to the court.
The great ones
Footballguy
Fanduel and Draftkings have corporate/hedge fund investors who presumably have audited them, so I imagine they are much safer than other businesses. CBS STANdard leagues are also safe but the payouts aren't as great and the formats can get old.
Your best bet is YAHOO. Good customization. Very high payouts in some of the custom leagues. If you get really lucky, you might find some pay leagues with no entry fees, like I did.
Only downside I can think of to Yahoo is less Commissioner oversight, so it may be more difficult to block a lopsided trade motivated by collusion. Hey it's not a perfect world. There is a price to pay.
Good to know that the Court will take a look at the books. I'd like to know what actually happened, mostly out of curiosity as I am not expecting even 25 bic out of my 200PLUS in winning.
LOL, that's less than half my entry fee.
Your best bet is YAHOO. Good customization. Very high payouts in some of the custom leagues. If you get really lucky, you might find some pay leagues with no entry fees, like I did.
Only downside I can think of to Yahoo is less Commissioner oversight, so it may be more difficult to block a lopsided trade motivated by collusion. Hey it's not a perfect world. There is a price to pay.
Good to know that the Court will take a look at the books. I'd like to know what actually happened, mostly out of curiosity as I am not expecting even 25 bic out of my 200PLUS in winning.
LOL, that's less than half my entry fee.
Fresh Prince of Bel Nor
Footballguy
I was very curious about what went down at that meeting as well.
Judging by the lack of response, it doesn't sound like anyone went, or at least anyone that reads/posts here. I would have gone for sure if I were a Salt Lake resident, but obviously was not going to travel from out of state.
Was Phenoms even open to residents of Utah? If so, I would guess at least one former "valued customer" had to have gone.
Anyone???
Judging by the lack of response, it doesn't sound like anyone went, or at least anyone that reads/posts here. I would have gone for sure if I were a Salt Lake resident, but obviously was not going to travel from out of state.
Was Phenoms even open to residents of Utah? If so, I would guess at least one former "valued customer" had to have gone.
Anyone???
El If I No
Footballguy
Any updates on anything from the Meeting of Lawy.... er uh Creditors?
Seems everything has gone quiet which is not necessarily a good thing as change (or charges n this case) on happens when things get loud
Seems everything has gone quiet which is not necessarily a good thing as change (or charges n this case) on happens when things get loud
CletiusMaximus
Footballguy
When a chapter 7 case is filed, an estate is created which contains all assets of the business and a trustee is appointed to administer the estate, The trustee is a private lawyer, not a government employee. He has various rights to investigate, bring lawsuits, etc., but he's not going to do any of that unless he can get paid for his time. The vast majority of chapter 7 cases are "no-asset" cases, in which there is nothing to pay creditors or a trustee for his time or expenses. The trustee reviews the file and conducts the meeting of creditors, where the debtor appears with his lawyer and answers questions under oath regarding the business. Creditors are allowed to appear and also ask questions. Most of these meetings are short, perfunctory and boring. In the vast majority of cases, a no asset notice goes out, the debtor gets a discharge, the case is closed, and the trustee is paid something like $150 for the approximate 1 hour of time he spent reviewing the file and conducting the meeting. In a very small percentage of cases, there are actually assets to administer. In this case, there is a significant amount of cash in the estate. The trustee can use that cash to do a bit more than he normally might. If he is able to recover funds for the estate, for example by successfully prosecuting a fraud action or some other recovery/avoidance action on behalf of the estate, he gets paid more, on a percentage basis. For the trustee and his lawyer this is often essentially a contingency case, but in this case there is already some cash in the estate to pay for his time. In this case, he's hired a lawyer to represent the estate even before the meeting of creditors, which already sets this case apart from 95+% of all chapter 7 cases. But that still doesn't mean anything will happen, only that some of the estate funds are already being used to pay professionals rather than to pay creditors. As of today, nothing has happened, but that's not surprising.
The great ones
Footballguy
Do we expect the entire bankruptcy matter, payments, and investigation to be closed by mid-May? Is that the next milepost?
Fresh Prince of Bel Nor
Footballguy
While I understand that the primary motive of myfantasyleague is try and get some Phenoms customers to bring their business to their public leagues, I still appreciate the customer credit for former Phenoms owners. Classy move.
The great ones
Footballguy
Fre Mfl 10 league for all phenoms customers. I am not sure if it's just one or one for each league you were in. Small consolation for the Big Stakes winners but better than nothing I guess. Also if you continue your league into 2015 there will not be an Mfl hosting fee I think.
Let us see what the bankruptcy court says in May.
Let us see what the bankruptcy court says in May.
The great ones
Footballguy
Sorry just checked in now. It's probably to late but for what it is worth I recall the deadline with the bankruptcy court passed the first week of May. I would give you the number and address of the court except that I threw everything away after I mailed the claim several months ago, as I am not really expecting to see any money.
Sorry. In any event I bumped this for you in the unlikely event that it is not to late to make a claim and someone can provide you with the court info.
Fresh Prince of Bel Nor
Footballguy
I found my letter and it looks like you have until the 26th to file.
The phone number listed is 801-288-0202. It is for Jeffery Mortimer, his attorney.
I'd love to hear what he has to say about claims if you get through. Please post.
Good luck.
The phone number listed is 801-288-0202. It is for Jeffery Mortimer, his attorney.
I'd love to hear what he has to say about claims if you get through. Please post.
Good luck.
