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Author Topic: Amiga, Inc. (Washington) changes name  (Read 10826 times)

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Offline Argo

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Re: Amiga, Inc. (Washington) changes name
« Reply #29 from previous page: November 01, 2007, 06:42:22 PM »
Quote
Unfortunetly for Hyprion, AI/Amino was never insolvent. Their assets were far beyond their debts. Refer to US Code on what is required for insovlency.


Yet, they were unable to pay their debts even after selling their assets. Or would that be unwilling to pay debts?
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Offline dammy

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Re: Amiga, Inc. (Washington) changes name
« Reply #30 on: November 01, 2007, 06:55:42 PM »
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Yet, they were unable to pay their debts even after selling their assets. Or would that be unwilling to pay debts?


I say more like poor mouthing it to skate on paying debts tbh.  They clearly had assets worth far more then what they owed.  Problem is for those who they owe is forcing them into selling asstes (Amiga IP) to pay off those debts. That requires paying lawyes to hound AI and AI's owners so you have a chance of spending more what the debt is owed by AI on lawyers.  Most will call it a day and  take the loss on their Federal/State Corp income taxes.

Hopefully by this time next year, the jury will have decided.  Let the appeals process begin after that.  :-D

Dammy
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Offline IOWASURFER

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Re: Amiga, Inc. (Washington) changes name
« Reply #31 on: November 01, 2007, 07:43:54 PM »
Right on darule right on !!!

I would mortgage my house for a A5000

:P

Joe..

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Offline a-pex

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Re: Amiga, Inc. (Washington) changes name
« Reply #32 on: November 02, 2007, 08:12:44 AM »
KILL BILL, Episode 12 - The come back of a dead mailbox
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Offline ChrisH

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Re: Amiga, Inc. (Washington) changes name
« Reply #33 on: November 02, 2007, 04:21:10 PM »
@Argo who said
Quote
Except your confusing what McBill says with real world evidence.  Ignore McBill and pay attention to the paperwork, that is going to lead you to the truth.

So you're saying that McBill purgered himself in court when he said they were broke?...
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Offline ChrisH

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Re: Amiga, Inc. (Washington) changes name
« Reply #34 on: November 02, 2007, 04:27:39 PM »
@dammy who said
Quote
Unfortunetly for Hyprion, AI/Amino was never insolvent. Their assets were far beyond their debts. Refer to US Code on what is required for insovlency.

How do you value their historical "assets" (by which I assume you mean their IP) ?  I don't see that you can.  Far easier to rely on McBill's historical testimony that AI was essentially bankrupt...
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Offline Tigger

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Re: Amiga, Inc. (Washington) changes name
« Reply #35 on: November 04, 2007, 01:22:24 PM »
Quote

ChrisH wrote:
@Argo who said
Quote
Except your confusing what McBill says with real world evidence.  Ignore McBill and pay attention to the paperwork, that is going to lead you to the truth.

So you're saying that McBill purgered himself in court when he said they were broke?...


He said they only had about $100 in the bank, and he talks about both debts and assets.  Though AI would have likely met what we call a cash flow (or accountants) definition of insolvency, under US law (in Title 11) is debts greater then assets, and AI's assets (trademarks, copyrights, etc, all of which Bill talked about under oath) were worth far more then the debts he talked about, thus under US law, AI was NOT insolvent.    
    -Tig
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Offline AmiDog

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Re: Amiga, Inc. (Washington) changes name
« Reply #36 on: November 05, 2007, 02:32:55 PM »
@Tigger

Quote
Q: Can you state your name?
A: Bill McEwen
...
Q: Is Amiga as we sit here today financially solvent?
A: No
Q: Is it fair to say that its debts exceed its credits?
A: Yes


Quote
Insolvency is a financial condition in which the total liabilities of an individual or enterprise exceed the total assets so that the claims of creditors cannot be paid.


So, we are either looking at an insolvent company, or Bill did commit perjury, in which case he will face up to five years in jail according to US law.
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Offline Tigger

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Re: Amiga, Inc. (Washington) changes name
« Reply #37 on: November 05, 2007, 04:05:42 PM »
Quote

AmiDog wrote:
@Tigger

Quote
Q: Can you state your name?
A: Bill McEwen
...
Q: Is Amiga as we sit here today financially solvent?
A: No
Q: Is it fair to say that its debts exceed its credits?
A: Yes




Yes and he also listed the assets of the company, IP and Trademarks.  They have value and are important in finding a company insolvent.

Quote

Quote
Insolvency is a financial condition in which the total liabilities of an individual or enterprise exceed the total assets so that the claims of creditors cannot be paid.



Insolvency has only one definition in US law, it is in Title 11 of the US Code, it quite clearly says debts exceed assets, AI(W) did not meet that criteria in April of 2003, despite Hyperions claims to the contrary.

Quote

So, we are either looking at an insolvent company, or Bill did commit perjury, in which case he will face up to five years in jail according to US law.


No, Bill is answering with an accountant answer, not a legal answer and he is led to that by the questioner.   AI couldnt pay bills, true, technically if they decided that we were not going with a legal definition and going with this definition, then they were insolvent on Nov 3, 2001, which would invalidate the entire 2.07 clause.
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Offline dammy

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Re: Amiga, Inc. (Washington) changes name
« Reply #38 on: November 05, 2007, 04:13:23 PM »
Quote
So you're saying that McBill purgered himself in court when he said they were broke?...


If you can get the WA state attorney to go after Bill for Purgery, go for it.  I really do not like AI, and for the most part that goes for the current owner(s) and execs as well.  Be as that may, I still say that AI is in the clear with this contract with Hyperion.  Ben make a crappy contract and he's going to get the fruit of his stupidity.

Dammy
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Offline ChrisH

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Re: Amiga, Inc. (Washington) changes name
« Reply #39 on: November 05, 2007, 04:46:34 PM »
I'm still waiting for the Fat Lady/Judge to sing...
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Offline dammy

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Re: Amiga, Inc. (Washington) changes name
« Reply #40 on: November 05, 2007, 04:52:38 PM »
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I'm still waiting for the Fat Lady/Judge to sing...


For the initial trial(s) or the appeal process?  You may get lucky and the initial trial(s) will be over by this time next year, or not.  Appeals?  Many many years will pass before the appeal process will be over.

Dammy
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Offline persia

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Re: Amiga, Inc. (Washington) changes name
« Reply #41 on: November 05, 2007, 05:02:26 PM »
Look for the Amino Center at Kent to appear any day now...
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Offline dammy

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Re: Amiga, Inc. (Washington) changes name
« Reply #42 on: January 20, 2008, 12:15:12 PM »
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I'm still waiting for the Fat Lady/Judge to sing...


I've believe it has now started:  Itec vs Hyperion will not be joined with AI vs Hyperion case in WA but remain in NY.  Hyperion also failed to link their law suit against Amino plus has to go to mediation first before going to trial.  Hyperion did win to get subpoena with Amino's old lawyers but the Judge will go through seven boxes from their past lawyer first.

Dammy
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Offline Skyraker

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Re: Amiga, Inc. (Washington) changes name
« Reply #43 on: January 20, 2008, 12:51:50 PM »
Dirty dirty necro.

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