Thread: Let's rent a Lawyer in the name of all

I posted these two earlier in the year but here it is again. In many conversations with our two daughters one who works at The Justice Department as a lawyer and the other a International Lawyer for a major firm in New York City. Based on this I feel comfortable with the information I've collected. NO one has to agree I just wanted you all to see what the pros say.

WHO Has DEEP Pockets For Legal Action

This issue of legal action is really a problem for me. I keep hearing taking legal action but yet no one has said how, this would happen. Please explain to me the process. I'm not trying to be diffcult here, but I come away each time with a sinking feeling. I wonder if anyone understands what would have to happen to even start the process. Let me once again give you a little insight. 1. You would need a Lawyer in this country who is a International Lawyer. 2. Once you have the lawyer in this country then he or she would establish communications with a lawyer in Malaysia who would be willing to take on the case. 3. Permission would have to be gain thru the Malaysia judicial system to enter into a suit against a resident or company of Malaysia.

Okay lets say all this is accomplished 6 months to a year would have already passed. Now you may ask where and what is the next step or steps. Another invesigation would have to take place by your lawyers in order to present there case. To reach this point your cost has reached $50,000.00 to $100,000.00 these are guesses could be more not less before you even get a court date.

Now lets just say its one year out from the time action was started all case work is complete and you have a court date. Theres motions and counter motions another 3 months to 6 months pass. Remember the lawyers are still on the clock and you are now for sake of conversation say its now 18 months from the time action was started. Monies have been spent now additional funds must come into play to keep the action going. I will stop at this point for the simple sake that nothing has been accomplished to get your money from PicPay or whatever it maybe. But your outlay has continued and will keep growing.

Second Posting On Same Subject Matter:

$50,000.00 to $100,000.00 WAY LOW
You want real numbers how about this U.S. lawyer, $300,000.00 to $500,000.00, Mayalsia lawyer, $285,000.00 to $475,000.00 now these are just retainers. He or she is still not on the clock yet. Oh, what heck let me give a bottom line figure after all said and done $4,000,000.00 to $5,000,000.00 dollars and THESE FIGURES ARE STILL LOW. They are based on that everything flows like glass with no problems. But we all know thats not possible.

I'm well aware that the amounts in my first post were low I even stated that. The only thing I was trying to do is put the issue of legal action in a realm that everyone can relate to. I have found over the years that money and numbers will get the attention faster then anything else. It got your attention!!

Its still my contention if somewhere down the road, legal action is the only recourse who is going to pay? Talk and speculation is find but when the shoe leather meets the road who will pay?

My own personnel view is legal action is not the answer for many reasons. Lets say money is no problem and things start moving forward, how is Bryan, going to view that, one he may say to h-ll with it. two he says I really was trying to bring PIPS back in a restructed format but you refused to wait. again who is the loser we are plain and simple.

Just how long are we prepared to wait until we get off our arses and do something?

Will we still be all scratching our heads come 2010? I never thought back in good old 2004 when the withdrawals stopped that I would have to wait 2 years to find out why.

Its time for some answers from Bank Negra. I dont see why an official letter cannot be written explaining how the investigation is going. What they have uncovered and what we as members of PIPS might expect. All they have said is that they are investigating. Nothing too official. Are they real? They seem just as mickey mouse as PIPS does.

Well im sorry but there are over 200,000 people that have no clue what the Maylasian government is doing with their money. Surely if PIPS is gone then we have a right to our own money. Why should Malaysia keep it?

But then again, who are we to ask these questions?

Tim

I Will Give Them All Of My Picpay Lol

Who is saying to do something against Bryan ????
What I want is INFORAMTION.
Do we have now correct information about the status of the investigation and the future of PIPS ? The answer is NO.
It would be good to have a thrusted person there, who can get the access to the information where an ordinary person would not be able.
The only thing that I would like to have is INFORMATION.
We are very strong with thousands of members and what do we do ??? Nothing, just sit and wait.... We can wait like this for many years.
I respect Bryan a lot but he should respect us also...
Let's now wait till next week to see what kind of information we will get from that visit of some PIPS members....
Anyway the idea of having some lawyers there that will work for us is not a bad one.

Good~~~~~~~~~~

On the 18 July I contacted BNM.

I firstly spoke to a Mr Maslan in the special investigation department who informed me that they have completed the investigation and have handed their findings over to the legal department.

I then spoke to a Mr Garison in the legal department whom informed me that they (legal department) are still in the midst of reviewing pips whereupon a decision will be made to prosecute or not. The legal departments findings are then sent to the attorney general who makes the final decision. However this info was also given to me in April - so I again everything is unclear.

The obvious reason for my contact is simple - I have a lot of money in pips and I am tired of the assumptions that are constantly being made on the forum. I am very unclear about the individuals being "summoned" to the bank to make statements? Who knows what they are doing. Mr Garison had no timeline on anything and he was very reluctant to give any further information
So the status - still in review. We have no one there who is looking after matters on our behalf, that is my conclusion. Will Pips be back, I sure hope so.
Another contemplation is - how many pipsters, in the future, if pips returns, will reinvest in pips being the non communicative situation it is now? Mr Marsden should give us some acknowledgment to stabilize trust in him. No CEO runs away from a sticky situation, hence lack of current trust.
carolinem

Carolinem is right - the onus of responsibility lies with the company or its executives (CEO) to keep its creditors informed. The investigating body, BNM, are under no such obligation.

NEWLIFE, I am glad someone has his thinking cap on by supporting Antje. If we start causing any kind of intervention with the investigation, it certainly will slow things down, with a lawyer yet. Can you imagine the in and outs and possible injunctions, etc? What a mess. In the end it may even work against the case as it may make investigators frustrated and possibly angry.

Legal wrangling in this case, or in any other investigation, is never a smart move for the reason stated. Let's be level headed. Yes, we all would like information, but pushing will not get us this information. Remember it is a goverment bank that is doing the investigation. You do not fight city hall in such cases.

srair71 gives a good overview. Look at it carefully. Though I do not agree with all the steps outlined, but basically it shows the cumbersome way things would go, and that is slow.

peterben

P.S. Antje, nice to see you on the English set. Thanks for your level-headedness.

The Onus is on BM to inform the members, but he may not be in a position to do so.

What a mess this has become.Best to check in once in a while.

Dreamer, this is what I think, otherwise he would have informed us already. After all, he also lost investment in PIPS, from what I heard from one of his acquaintances.

peterben