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  1. #11
    rik
    rik is offline
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    Jun 2006
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    UK
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    England

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    cheers guys for your help, if i get any new news i will keep you guy's informed...

    Thanks

  2. #12
    New Member
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    Jan 2007
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    6
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    global-distributing.biz/ is selling absolutely fake shoes,so does ibuildstar.
    You can easily tell that from their website.I agree with you guys.

  3. #13
    Banned
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    Jan 2007
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    ca
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    3
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    United States

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    Unsecured creditors are almost the last to receive any kind of payment. Unless a customer has specific terms under contact or has security (a mortgage is a secured loan for example), they are classed as unsecured. As a result of this, significant delays can arise in relation to repayment. It is highly likely that JMGames has the standing of an unsecured creditor in this case as this would be standard business terms.

    Finally, shareholders and contributories are repaid from remaining funds after all other debts are paid. This is why, when a company enters administration, shareholders receive meagre payouts when compared to their initial investment.

    If any payment is received from the insolvent company, it is known as a dividend.

    Basically, if JMGames has been able to secure a deal covering 100% of debt owed as a dividend, then that is a good outcome. Many times over I have seen situations where unsecured creditors receive as little as 5% of the money owed and shareholders receive nothing at all.

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