Neteller wants us to sign a release

pags11 · 07-30-07, 02:17 AM

yet another warning sign...

jjgold · 07-30-07, 06:17 AM

Neteller is flat broke period.

OCKO · 07-30-07, 08:36 AM

Release from NETeller

Release

You and NETELLER Plc Group (each, a “Releasing Party”) mutually release, waive, and discharge each other (each, a “Released Party”) from any and all manner of actions, causes of action, suits, promises, damages, judgments, executions, claims, counterclaims, demands, and any other form of liability whatsoever, in law or equity, known or unknown, that the Releasing Party ever had, now has, or hereafter can, shall, or may have against the Released Party from the date You opened Your Account to the Effective Date with respect to Your request to receive funds under the Distribution Plan and Your Account.

The additional definitions below apply to this release:

“You” or “Your” refers to you and any of your assigns, heirs, executors, agents, or anyone else acting on your behalf or in your capacity.

“NETELLER Plc Group” means NETELLER plc and its predecessors, successors, present and former affiliated companies, subsidiaries, assigns, officers, directors, stockholders, employees, and agents.

“Your Account” means your online stored value account with the Neteller plc Group, or any of them, which holds electronic money.

“Distribution Plan” means the distribution plan announced by NETELLER Plc Group on 4 June 2007 pursuant to agreements with the United States Attorney’s Office for the Southern District of New York and Navigant Consulting, Inc.

“Effective Date” means the date on which You successfully withdraw funds from Your Account under the Distribution Plan.

DrunkenLullaby · 07-30-07, 10:23 AM

Now why in the world would Neteller ever have any grounds to sue any of their customers?

Mutual release, my

jjgold · 07-30-07, 11:17 AM

If Netller does not want to pay USa people of course they are running dry on funds, I would never use Neteller again even from another Country.

This place is in trouble

DrunkenLullaby · 07-30-07, 11:37 AM

Originally posted by jjgold

If Netller does not want to pay USa people of course they are running dry on funds, I would never use Neteller again even from another Country.

This place is in trouble

Yes, and today's developments certainly indicate that they "do not want to pay USa people".

punchmaster · 07-30-07, 11:49 AM

Originally posted by louis

According to the FAQ on the neteller site we will be asked to sign a release that we will no longer hold neteller legally responsible for anything.

In return, they also agree to do the same.

No way should any of us sign this release. This only benefits them. They owe us millions in interest, if we decide to go after it.

Since they agree to pay us even if we don't sign the release, I see absolutely no reason to sign it. No reason what soever.

Why even mention this bro? Just a bunch of legal mumbo jumbo. When we all signed up for neteller, it was clear that no interest was going to be earned. Your just giving JJGold and Pags some negativity to hold onto and post away. Who in their right mind is going to go after neteller for 6 months of interest after agreeing up front that it's a non interest bearing account.

jjgold · 07-30-07, 12:07 PM

Originally posted by DrunkenLullaby

Yes, and today's developments certainly indicate that they "do not want to pay USa people".

I think they mismanaged the funds also thinking they did not have to pay what a disgrace. Neteller has to be broke.

Lucas · 07-30-07, 01:43 PM

Originally posted by jjgold

I think they mismanaged the funds also thinking they did not have to pay what a disgrace. Neteller has to be broke.

I had a program that put into together random words and thus some original sentences were made - it was a harddisk test...

... ok why it usually comes into my mind when I see certain people posting

Mudcat · 07-30-07, 02:47 PM

louis · 07-30-07, 05:12 PM

Don't understand why anyone would agree to this release

I could not think of any benefit in agreeing to this release. When ever someone presents me with something to sign, if there is no benefit to me, I'm not going to sign.

Don't understand why anyone would sign this release.

I could sign it in the future, if neteller would like to tell us in the FAQ what the benefit is to us.

Wheell · 07-30-07, 05:58 PM

How about if you don't sign you don't get your cash?

Justin7 · 07-30-07, 11:08 PM

This release is Neteller trying to preempt a class-action lawsuit. It's not worth it for any one person to do it, but over $100m was held for 7 months. They're just trying to put up another hurdle to an aggressive lawyer going after interest for holding peoples' money that long.

louis · 07-31-07, 12:54 AM

According to the FAQ you still get your cash. There is absolutely no reason to sign this; it could actually hurt you to sign this because then you could not take part of a suit, however unlikely that one would take place

Omnivorous Frog · 08-02-07, 05:33 PM

I signed it. My concern was I will give them a no liability on this fiasco because I get my money, which I did with 48 hours, and I write it off as another heavy handed uncle Sam extortion and strong arm show. My concern is a class action suit by shareholders after they lost 75% or more of value, and the US Government nailed them for another 136 mil. If it was not a mutual agreement I would have declined. This one came out a helluva lot better than BOS. Obviously Neteller was never broke, and the sky never fell. But to be able to pay after losing 136 mil off the top and all of that share value impressed me. I had one of the worst case scenarios even having funds in there as I advised all clients the bill was truncated and should be labeled the Neteller bill. After the CEO, I mean former CEO abduction I gave out a fast withdrawal message. Sadly I had no card in hand. But again, I should have never had funds in there to begin with.