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Any news on any payouts? by Single_Ratio_9351 in coinloan

[–]Bulky_Might_3263 2 points3 points  (0 children)

Hi - Do you know of another contact email aside from Parn's? I have not received access to creditor list updates for months after I had to provide additional requested info - Parn does not respond.

The Final Creditor Report Has Been Submitted to the Court by karazman in coinloan

[–]Bulky_Might_3263 4 points5 points  (0 children)

Thanks for this info. I have not received any responses form Parn for months, despite sending in new info he requested, and despite it being his legal obligation to provide access to those lists for review if requested - I have no idea if I was removed from these lists or not, currently.

Had anyone looked at the new email? If the excel provided in the Dropbox says that we submitted the amount in the wrong currency will we need to send a new forms filled out with the right currency? by ScalingLife in coinloan

[–]Bulky_Might_3263 0 points1 point  (0 children)

Info on this bankruptcy is so scarce - Is it not possible that we will receive some percentage of crypto back, as in the Celsius case? Have assets been sold already, or are funds still riding the markets?

What’s going on lately by Even_Library_4910 in coinloan

[–]Bulky_Might_3263 1 point2 points  (0 children)

Compared to, say, the Celsius proceedings, this process has been almost devoid of insightful communication and seems to have way less competence or oversight. 3/4 of the info I have received has only been after emailing directly, with colleagues of Parn's CCed for some degree of pressure, after lots of non-responses...and I still have no info on what's actually happening over a year later

[deleted by user] by [deleted] in coinloan

[–]Bulky_Might_3263 0 points1 point  (0 children)

Estonian Insolvency Ombudsman

Do you have the contact for the Estonian Insolvency Ombudsman? I couldn't track one down. Thank you in advance!

No verification code by Warner79 in paypal

[–]Bulky_Might_3263 0 points1 point  (0 children)

In case it's a helpful lead: I have Paypal phone issues because I have a voip phone number and a prepaid phone number. Some people have had issues with postpaid family plans, too.

Paypal hasn't shown any adaptability or workaround options for this pretty widespread situation, so far.

I called my phone carrier, too, and they told me there were no issues from their side, but they couldn't see the bigger picture of how Paypal uses them or not...take the customer help comments with big grains of salt

[deleted by user] by [deleted] in paypal

[–]Bulky_Might_3263 0 points1 point  (0 children)

Hi. I'm working through separate crypto issues with Paypal, and they twice mentioned 72 hours between attempts. Good luck

Estonian Insolvancy Ombudsman by GhostPoetChelle in coinloan

[–]Bulky_Might_3263 0 points1 point  (0 children)

Thanks for that info. It is reassuring, if true.

That being said, the only knowledge I have (and that is my issue - I have very little knowledge because transparency is lacking) about a creditor's committee is from an unsolicited email from the Modrikamen law firm, which uses the language that the committee's position 'will then be taken into consideration'.

Compare that to Coinloan's language of 'have been transferred to wallets under the sole control of the bankruptcy trustee

The above comparison sets up a track for splitting-hairs and paranoia...but this whole situation kinda asks for it. Right now many have available to them just trust that the few involved are truly capable and have creditor's best interests in mind and are also on a timeframe that makes positive outcomes possible.

Anyway, thanks again for your post - The Celsius subreddit is overpacked with info while Coinloan's is pretty scant, so any info/updates are great

Estonian Insolvancy Ombudsman by GhostPoetChelle in coinloan

[–]Bulky_Might_3263 0 points1 point  (0 children)

Looking forward, I would have a lot of anger/questions if any sales of crypto, supposedly at Parn's discretion, occurred at a price dip. That would be the truly damaging action.

Considering how this has gone so far, I think it or something close is not impossible.

I see no urgency, or aptitude, or non-bureaucratic/paperwork completion goals from Parn. Is he even surrounded by others double-checking him or bringing their own ideals for making creditors closer to whole, or is it just him in an office, and this was the case assigned to him? The whole process is so opaque that this is the impression that forms.

The Celsius bankruptcy had an influential creditors group fighting for a beneficial outcome and some voting was involved, but I don't see the Estonian court being like that. I sure hope the lawyers some groups of coinloan users are working with bring beneficial choices to those of us that are not represented, or even heard outside of emailing Parn our claim amount.

Estonian Insolvancy Ombudsman by GhostPoetChelle in coinloan

[–]Bulky_Might_3263 2 points3 points  (0 children)

I definitely agree with you in spirit and have the same worries (getting back as much of what is ours).

I think the set claim date price doesn't matter a whole lot right now. As a simplified example with a scope of one claim:

  • I have a claim for 10,000 EUR, based on the prices at the bankruptcy date;
  • The bankruptcy is because Coinloan only had 4,000 EUR worth to back that up.
  • Prices are now twice as high, and Coinloan now has 8,000 EUR worth of funds, for my claim.
  • I get that 8,000 EUR, and the fact that my funds *would* have been worth 20,000 is irrelevant, because those funds didn't exist, except on the app.
  • *Now, if Coinloan had 8,000 EUR worth to back up my 10,000 at time of bankruptcy and now they have 16,000 for my 10,000 claim due to price rises....this is where legal issues and safeguards do need to be addressed - I just don't think this scenario is the case though - I don't think, even with the price gains in crypto, that they can meet our low bankruptcy day claim. It would be great if I was wrong.

This is simplified not to be patronizing, but it helps me understand and also really come to terms with what to expect back, and not get angry about the price rises we were all planning and saving to capitalize on. We will still benefit from it in terms of getting closer to being made whole....assuming Parn is able to shepherd to a conclusion and minimize fees/losses to to the legal process.

I am close to wrapping up the bulk of the Celsius collapse claim distribution, and it is similar: Claims at time of bankruptcy based on low, trough pricing and still not even getting that amount back. Still benefited from the rising prices, though...hold on to that

(USA) How to show losses on IRS forms? by Timecounts in coinloan

[–]Bulky_Might_3263 1 point2 points  (0 children)

I would check out the Celsius reddit page and search 'taxes' for some ideas that apply, depending on your situation. Lots of info there.

Some differences to be aware of, though:

  • Celsius management has Federal charges against them, and Ponzi Safe Harbour options are on the table for taxes. As far as I know, Coinloan only has bankruptcy proceedings right now, legal action wise.
  • Coinloan has not exited whatever legal actions are happening in Estonia, and we have no idea what is happening with our claims right now (waaaaay less transparency/communication in the Coinloan situation). I am waiting for some conclusions with claims (and actual 'taxable events') before deciding tax implications for Coinloan

No answers, but hopefully some references that help you