Sportsalive, Bet24/7 Ceased Operations

[portman]

Seems that at best punters have to wait for a small fraction of our funds. The reports are not ambitious and probably the mismanagement of Sportsalive has wasted players' deposits and the only source is the 250k which is obviously not sufficient to cover the players' balances. If a class action is going to be undertaken I am interested in enjoying it, however i think that the story will try our patience and we are going to discuss this matter for a long

[MehT]

http://www.bentcougle.com.au/SportsAlive_Notice.pdf

I once had some money....

[Champi]

As i understand from liquidators report players have 1% chance and will be last to receive any money...

[in play, run(s)]

Whoever is responsible for this should rot in hell.

[portman]

I can't figure out who is the secured creditor in this liquidation besides the empoyees whereas the company owes 4 millions and why those creditors are in priority? As I said before we have to accept that we lost our money but at least I ask someone to pay for this as he outwitted laws cheated players and destroyed punters with good faith. I hope Australia is a serious country and someone is going to be just behind the bars for this scandal.

[Hareeba!]

I can't figure out who is the secured creditor in this liquidation besides the empoyees whereas the company owes 4 millions and why those creditors are in priority? As I said before we have to accept that we lost our money but at least I ask someone to pay for this as he outwitted laws cheated players and destroyed punters with good faith. I hope Australia is a serious country and someone is going to be just behind the bars for this scandal.

I agree. This is a clear case of theft. The police should already have been called in.

Banks and other lenders always require security for their funds, thus they are secured and get priority over unsecured creditors.
My argument would be that the punters are not creditors at all.
They were told their moneys were held in a "segregated account". It is not the bookie's money until he is permitted to withdraw it after the punter loses.
The liquidator should have no right to access the segregated account other than to withdraw punter losses and interest.
If Sports Alive or the liquidator do otherwise they are stealing.
If the bank was given a charge or right of set-off over the segregated account then the directors of SA have committed a crime. Perhaps it also opens up an opportunity to take action against the bank as they should have known better? And it would further show up the regulator's lack of diligence in the performance of his role.

[boar]

http://www.theage.com.au/victoria/betting-agency-misled-say-staff-20110903-1jri1.html

Great article - game on

[MehT]

http://www.bentcougle.com.au/NoticetoAccountHolders.pdf

[chance]

Bentcougle should be allowing customers to view their account statements.

[portman]

And what do all those mean? Are we going to receive any pennies back or not?

[Hareeba!]

And what do all those mean? Are we going to receive any pennies back or not?

http://www.makingthenut.com/content/punter-protection-or-lack-thereof-act

[portman]

http://www.makingthenut.com/content/...ck-thereof-act

It is some days back when this article was published. Doesn't really add something new. We know how things have happened but noone says if we are going to get back something, even part of our funds or nothing at all

[Hareeba!]

It is some days back when this article was published. Doesn't really add something new. We know how things have happened but noone says if we are going to get back something, even part of our funds or nothing at all

There have been several new posts on that page
There is a creditors meeting next week
There is a contact there to lodge a proxy for a start
We'll get next to nothing out of it unless we do something

[portman]

There have been several new posts on that page
There is a creditors meeting next week
There is a contact there to lodge a proxy for a start
We'll get next to nothing out of it unless we do something

Thanks for that i just saw the discussion underneath. I will act immediately keep me posted for any updates mate.

[Hareeba!]

Anyone caught out by this scam please get in touch with "asanque" at sportsaliveaction@gmail.com

This is his latest update on the situation:


Submitted by asanque on Wed, 07/09/2011 - 18:45.
Hi all
A further update.
I've now spoken to the liquidator of Sportsalive and received the answer to many of my questions.
If you are not planning on attending the upcoming creditor's meeting on Tuesday, I am seeking proxies to vote on your behalf (potentially to replace the liquidator).
This can be found on the last page of the below link.

http://www.bentcougle.com.au/CirculartoCreditors.pdf

I have set up a new email to deal with any questions and I will send a further update tonight.
The email is: sportsaliveaction@gmail.com
I am currently compiling a list of all affected punters who may be interested in the actions listed above.
If you haven't sent me full details, now is the time.
Send name, email address and amount owed from Sportsalive.
Sidenote: In answer to the question below: my only interest is as a person who has lost money to Sportsalive.

[bet24 7]

Whatever everyone has heard listen to this!!! Everybody involved with sportalive is not recieving a cent. The liquidator is not giving out individuals account statements. Tom waterhouse.com is only paying your account balance as of 26/08/11 for bet 247 customers. Although you think bet247 are seperate to sportsalive you are wrong!!!! Bet247 is broke as they broke agreement with tomwaterhouse to honour outstanding transactions. I have been emailed by tomwaterhouse.com yesterday outling there stance on this. **** every oyster involved in gambling. Your only hope is to register with sportsaliveaction@gmail.com Thanks everybody

[Hareeba!]

Tom waterhouse.com is only paying your account balance as of 26/08/11 for bet 247 customers.

maybe to those who didn't previously have an account with TW .. but not a cent if you did

[brettels]

Although you think bet247 are seperate to sportsalive you are wrong!!!

You calling hareeba a liar?

[bet24 7]

tomwaterhouse.com is only paying out what your account balance was at as of 26/08/11. The bet247 customers like me who made bank to bank withdrawals before the 26/08/11 for substancial amounts of money are still waitin.... Originally tomwaterhouse.com said verbally they would pay out ALL outstanding debts to your account till i recieved an email on 9/09/11 from them stating they will not be honouring ALL transactions because the owner of bet247 renegged on his verbal agreement with tomwaterhouse.com that he would pay them back. I still don't know who to chase for my money or even if bet247 are seperate to sportsalive. Tomwaterhouse who bought them out can't even tell me, so drop the liar crap if you got facts post them, if your a whinging little bitch stay on the sideline

[chance]

Does anyone know what happened at the creditors meeting?

[bet24 7]

tomwaterhouse is paying only on your balance as of and on 26/08/11, i withdrew 25k on 23/08/11 from my bet247 account and have NOT recieved a cent !!! tomwaterhouse is not paying this... so who is ?

[noyb]

chance, the creditors meeting is next week

and bet 24 7, fill in the proxy. i doubt you're in any different position then any of us sportsalive-account holders

[King_Suckerman]

thanks to all the guys posting useful info in this thread

[chance]

Lets vote out the Liquidator at the creditors meeting. He has sold out the gamblers already. He sold the customer list for sportsalive without the account holders at sportsalive having any return from TomWaterhouse. He does not intend to refund the $250,000 to the gamblers either. Gamblers will get $0 if he stays. He will get paid $200,000 for his work shafting the gamblers.

[noyb]

i agree completely. i hope we have enough leverage at that meeting to do something about it.

[bet24 7]

it's on tuesday

[brettels]

You can't vote out the liquidator but you could get him sacked. Go hell for leather and good luck.

[bet24 7]

anyone know the latest

[portman]

Hello guys, any updates on the issue?

[in play, run(s)]

Today, I received a letter from the liquidator. But it was too long, I didn't read it. It contained serveral lists of people or companies being owed by SA, I assume. Anyone else received this letter?

Don't think we'll see a penny from those asslickers.

[lacoste]

Nothing received here, small chances to get a penny

[boar]

I am beginning to believe a class action against the ACT govt is the only way to resolve this sorry mess.
It appears there was no segregated account and this was one of the key conditions to the license.

I hate to say this but this whole affair reminds me of the Old Australia - an unbelievably corrupt country
where mateship (which is complete bs) would get you out of any trouble.

This has to be pursued to the very end and I, for one, will not let this go away until we reach a satisfactory
conclusion.

[chance]

Lets do it.

[Champi]

Today, I received a letter from the liquidator. But it was too long, I didn't read it. It contained serveral lists of people or companies being owed by SA, I assume. Anyone else received this letter?

Don't think we'll see a penny from those asslickers.

I receive the letter too BLA BLA
The liquidator will got 200K and others to Secured Creditors.Nothing to players...
So poor for ACT and Australia as generous.Probably i will never play at Aussie bookie.

[Duff85]

Anyone get this email today? I had nothing in my SportsAlive Account when they went under... so I had $0 transferred, anyone get cash?

Hi (Duff85)

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