FSA Bankruptcy Court

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joefremont
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FSA Bankruptcy Court

Post by joefremont » Thu Jun 13, 2019 7:57 am

When VA's can not pay their bills and end up in Bankruptcy and I get to play Bankruptcy judge. Most of the time I do my best to help them out of whatever situation they find themselves in but occasionally I discover that something fishy was going on and I need to take corrective action. Here is a case that has happened.
Proceedings if FSA Bankruptcy court.

Case:

Undisclosed Aviacion

Creditors:

A British Virtual Group

Associates:

Undisclosed Aereas

A complaint was received from the solicitors of 'A British Virtual Group' stating that they had loaned 'Undisclosed Aviacion' the sum of 1,000,000,000 v$ and that 'Undisclosed Aviacion' had embezzled the funds and that they were now bankrupt and unable to repay the loan. The representatives of 'A British Virtual Group' ask for their loan to be repaid and for unspecified punitive damages.

The courts investigation discovered that there had in fact been 24 loans between 'Undisclosed Aviacion' and 'Undisclosed Aereas' with high fees that were immediately repaid with the result of over 1.5 billion v$ were transferred to 'Undisclosed Aereas'.

The court finds that these loans were in fact fraudulent and that 'Undisclosed Aviacion' and 'Undisclosed Aereas' acted with intent to commit fraud. All loans between these two airlines are to be marked as null and void and the court awards 'A British Virtual Group' the balance of there loan plus an additional 2,200,000,000 in punitive damages.
I probably would have ignored this if they had not tried to take from another VA, but as a result I have also made a small tweak to the Loan system that if the borrower repays the loan within 24 hours of its issue the initial fee is refunded. If your a VA that has been lending are not happy about the fee being refunded, blame these two jokers for ruining it for you.

Happy Flying.
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magoo043
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Re: FSA Bankruptcy Court

Post by magoo043 » Thu Jun 13, 2019 10:09 pm

Eh, the rules must always be changed because of the cheater. i'm not surprised!!
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MrJTSZ
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Re: FSA Bankruptcy Court

Post by MrJTSZ » Fri Jun 14, 2019 11:15 am

For this reason, before making a loan I always make sure that they have the means to pay me in case they go bankrupt. for example, airplanes, maintenance center ...
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AdySmith
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Re: FSA Bankruptcy Court

Post by AdySmith » Fri Jun 21, 2019 8:38 am

Neither a borrower nor a lender be.

(Charles Dickens I believe)

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joefremont
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Re: FSA Bankruptcy Court

Post by joefremont » Fri Jun 21, 2019 7:57 pm

AdySmith wrote:
Fri Jun 21, 2019 8:38 am
Neither a borrower nor a lender be.

(Charles Dickens I believe)
Actually I think its Shakespeare. A quote from Hamlet
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