QUOTE (pittr @ Dec 23 2002, 02:19 AM)
Actually, here in Canada.... ?

Its' the other way around.
If you purchase a company, you purchase it's assets and it's liabilities unless it's otherwise stated in the contract of sale.
This covers corporations, partnerships and registered companies.
Normally, the purchase is handled by lawyers (or notaries, in Quebec). ?All financial information must be disclosed and the buyer SHOULD have the company books audited by a profesional. ?If information is withheld and only discovered after the fact, then this becomes both a criminal and civil matter.
As bad as I feel for the new owner, she is responsible for outstanding debts. ?She is equally eligible for the outstanding receivables. ?Do you think that when one company buys out an other company they tell the employees and suppliers of th purchased company, "Sorry, THEY owe you not us"?
We all know that ignorance is no defense. ?She should have known!
However, this is not the "real" world and the "employees" (the members) are not covered by the labour laws. ?The best you can do I quit the site and not recommend it to others.
As for the previous WM, I agree with Shadowman. ?Only by grouping together and taking this into a legal arena will this matter be resolved to the members satisfaction. ?I am sure there are also advertisers that are owed ads, also. ?They could be included in the action.
:ph34r:
It's exactly the same in the USA.
WHen you purchase a business, you purchase the Assets and the Liabilities.
That is exactly why i refuse to sell coppercoins, because i know whoever took it over would do exactly this...
As it is i'm shutting it down in April, gave 6 months notice to my members,
transfered 1/2 the members earnings to their mec-co-op accounts,
Currently there are 600 members left at coppercoins.
I'm lowering the payout to $5 Jan 15th, those that have $5 in their accounts can redeem for cash at that time...
after they redeem, i will cancel their accounts when 0'd out..
THen March 15th i'm lowering the payout to 1cent...
that way anyone left can redeem..
all redemptions must be in by March 31st..
Then the site goes down April 1st.
Am i the only one with any common decency here?
I think what these people are doing is terrible.
This particular site had a bad rep because of the original owner (i won't mention names, but he hacked a bunch of sites including mine).
so he sold it. The buyer had to know the site was worthless..................
So now it's sold again.
Since this is the internet, and not a physical building with tangeble assets, i don't know what the law is, i'm sure it's similar, but who do you complain to? If we knew, we could complain about jotter, alladvantage, epipo, and a bunch of others...
Not to mention those that delete our accounts when we request payments.
I think we just need to get to know the webmasters of these sites, and only deal with the one's proven to be honest, sincere and reputable.
It's things like this that turn off members from good sites....and give the rest of us a bad reputation............
People are really tired of getting the royal screw, been there done that, (had it done to me, more than once).
Shame on these jerks that have no consideration for the members that put money in their pockets for months, and worked their butts off only to get screwed out of a few cents...
What baffles me, is they'll open up a new site, and these same people will sign up only to get the shaft again and again...
I also agree, why would anyone buy an existing site, when they can purchase one cheap enough and start from scratch...
makes no sense to me at all.
Although I agree, you definitely know how some people just like to knock the wms down. This woman doesn't own any other site that I'm aware of and most of the people here complaining about it, will remain a member of it and then come back in here to complain again in a few months when it shuts down again. I read the folder on read2berich, where he lost database or had to start over for some reason, and have noticed that a few yelling scam had signed up again. Why complain and remain a member or sign up again? I think she is trying her best to deal with the situation without having to shut down. Would you guys rather she just shut it down and gave you nothing for what you have earned. Regardless of what happens, not everyone will be happy about it.