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Author Topic: anyone remember the Phase 5 Cyberstorm G3/G4 Debacle  (Read 4813 times)

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Offline cgutjahr

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Re: anyone remember the Phase 5 Cyberstorm G3/G4 Debacle
« on: December 11, 2008, 02:52:01 PM »
@kzin:

This is not a scam, some of our readers got the same letter (link to German discussion). Apparently, Gerald Carda (ex-Phase5, now bplan) had to declare 'private bancruptcy' (I don't know the proper english term) back in October, probably a late effect of the Phase5 bancruptcy.

The letter is from Carda's insolvency administrator, who asks you to provide proof (invoices etc.) if you think Carda owes you money. You should provide such proof until December, 29 - otherwise the debtor's lawyers have a good chance to deny your claims.

The one thing I don't understand is this: Phase 5 was a "GmbH", i.e. a 'limited liability company' - which means that only the company's assets would be used to pay creditors, not the assets of the company's owners. Perhaps I'm misunderstanding something, but usually it would not be Carda's job to provide compensation to those who prepaid for a G3/G4 card...

Edit:

I just got told Phase 5 was actually two companies: Only the production branch was a GmbH.