Well I am fed up with this whole process, but it may be to late. The only good news is that I have found something good to say about my bank. I use Wells Fargo Bank and they are going to try and recover my money for me. Their usual policy is to guarantee for 6 months but they are going to try anyway. We will see how it goes. You may want to try with your bank or credit card company to see what they can do.
I don't know anything about the legalities of this situation, but would it be possible for Shawn to keep his assets in the IMX and VISR and just file for bankruptcy on the Panamorph part of his activities?
Well, this sucks! Unless Shawn is really going to surprise us (yeah, good new would be a big surprise), what is the likelihood that we will be able to recover our money?? I know some credit card companies work with their members, but do the these companies somehow compensate you until they iron out the creases??
It's clear that the company filing bankruptcy will not have money...so, what are the options and likely scenario??
Assuming the worst: (1) that people won't be getting their Panamorphs, (2) that people won't be getting their money back from Cygnus, and (3) that credit card companies are going to be a pain in the ass, it could be helpful for Alan to prepare an affidavit that everyone could use to provide documentation to their credit card companies. It would basically just have to state the role that avsforum played in Cygnus' marketing of the Panamorph, as well as that Shawn made numerous ongoing representations promising delivery. A collection of all the posts Shawn made could be added as an exhibit (hopefully Alan has archives older than those that are available through the web).
Of course, I hope everything's fine and that Shawn is going to have good news. But if not, it seems to me like with that sort of documentation from Alan that credit card companies would have a hard time denying a charge-back on this purchase gone awry. -- Herb
Unfortunately he as a representative of Cygnus and Visr has misrepresented the facts on this forum many times. He could be held personally liable. I hope for everyone he will make some kind of statement soon. It may go a long way toward stopping the bleeding. Lets hope for once, it's the truth.
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