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>I literally _just_ got my captital out this morning. That. was. close. There can be clawbacks for anyone getting their money back within 90 days of bankruptcy
by automatic6131 4y ago
>I literally _just_ got my captital out this morning. That. was. close.
There can be clawbacks for anyone getting their money back within 90 days of bankruptcy filings. I wouldn't spend it all just yet.
- exabrial 4y agoThen I'll pull it out as cash and they can fight me for it.
- berberous 4y agoCash is fungible. Unless you pull out all your money, they can potentially go after an amount equal to whatever you withdrew…
- automatic6131 4y agoIf Genesis is found to be operating as a ponzi scheme (lol, lmao), then the bankruptcy court will send you a bill for the money you've withdrawn. You can try to fight that in court - but you'll lose. If you try to fight for it another way, I wish you the best of luck.
- FrobeniusTwist 4y agoYour advice above about maybe not spending recent withdrawals is really good. I just want to point out that recovery of "preferences" (which is what these withdrawals might, possibly, be) doesn't depend on there having been a Ponzi scheme, or any fraud at all, in the underlying business. Identifying and recovering preferential transfers is one of the main jobs of a bankruptcy trustee, and they are given legal superpowers with which to do their jobs.
- deleted 4y ago[deleted]