Received this e-mail today...I applied for an account last year though never funded it.
Dear BetonSports Customer
Further to our report in May 2008 we write to provide a further UPDATE with regard to Liquidation matters.
Creditors will recall that we were appointed Liquidators of Betonsports (Antigua) Limited ("the Company") by an Order of the High Court in Antigua and Barbuda on 8 February 2008.
In the interim period we have been attempting to recover the assets of the Company and agree the claims of creditors, which comprise gaming players and trade creditors.
Assets
In May of this year a team from Vantis visited Antigua to analyse the Company's books and records to extract further information to support the debt collection exercise. Certain records have still not been located, which remains a matter of concern for us in our conduct in this matter.
Since our last report key Board directors of the Company have been interrogated at our offices in London, and they continue to assist us with our enquiries and investigations. We are currently investigating the possible existence of financial records in Costa Rica.
Where sufficient financial records are available we continue at this time to pursue Company funds located in various jurisdictions including the USA, South Africa and Germany. These funds partly represent international payments in transit frozen by payment processors at the time of the declaration by the U.S government that internet gaming was unlawful. We are seeking to secure settlement of funds where appropriate without recourse to expensive litigation in those jurisdictions.
Creditors
Based on asset realisations to date by ourselves and the Gaming Regulator in Antigua, and known and estimated creditor balances (both gaming creditors and trade creditors) in the Liquidation estate, the dividend availability if a distribution were made at this time would be less than 5 cents on the dollar, or 5%.
We therefore consider it imprudent and economically unviable to circulate a dividend at this time, pending possible further assets being recovered as referred to above.
General
We continue diligently to pursue the assets of the company with a view to maximising the return to the gaming clients and other creditors. We continue to investigate the pre liquidation activities of the Company, and the board of directors, and we have a continuing dialogue with the Department of Justice in the USA with regard to all Liquidation matters.
As stated previously it is not in our interest for matters to become protracted. The High Court in Antigua has decreed that the Liquidators be remunerated on a recovery/performance basis. We continue to seek the best outcome for all parties.
A further update will be circulated in due course.
To register your claim if you have not already done so please complete the details via the weblink below, using your creditor reference 75630 to confirm your claim against the company.
https://betonsports.vantisplc.com/
Dear BetonSports Customer
Further to our report in May 2008 we write to provide a further UPDATE with regard to Liquidation matters.
Creditors will recall that we were appointed Liquidators of Betonsports (Antigua) Limited ("the Company") by an Order of the High Court in Antigua and Barbuda on 8 February 2008.
In the interim period we have been attempting to recover the assets of the Company and agree the claims of creditors, which comprise gaming players and trade creditors.
Assets
In May of this year a team from Vantis visited Antigua to analyse the Company's books and records to extract further information to support the debt collection exercise. Certain records have still not been located, which remains a matter of concern for us in our conduct in this matter.
Since our last report key Board directors of the Company have been interrogated at our offices in London, and they continue to assist us with our enquiries and investigations. We are currently investigating the possible existence of financial records in Costa Rica.
Where sufficient financial records are available we continue at this time to pursue Company funds located in various jurisdictions including the USA, South Africa and Germany. These funds partly represent international payments in transit frozen by payment processors at the time of the declaration by the U.S government that internet gaming was unlawful. We are seeking to secure settlement of funds where appropriate without recourse to expensive litigation in those jurisdictions.
Creditors
Based on asset realisations to date by ourselves and the Gaming Regulator in Antigua, and known and estimated creditor balances (both gaming creditors and trade creditors) in the Liquidation estate, the dividend availability if a distribution were made at this time would be less than 5 cents on the dollar, or 5%.
We therefore consider it imprudent and economically unviable to circulate a dividend at this time, pending possible further assets being recovered as referred to above.
General
We continue diligently to pursue the assets of the company with a view to maximising the return to the gaming clients and other creditors. We continue to investigate the pre liquidation activities of the Company, and the board of directors, and we have a continuing dialogue with the Department of Justice in the USA with regard to all Liquidation matters.
As stated previously it is not in our interest for matters to become protracted. The High Court in Antigua has decreed that the Liquidators be remunerated on a recovery/performance basis. We continue to seek the best outcome for all parties.
A further update will be circulated in due course.
To register your claim if you have not already done so please complete the details via the weblink below, using your creditor reference 75630 to confirm your claim against the company.
https://betonsports.vantisplc.com/
