Shrink, time to do some investigating!

[SunDevil]

This was posted by Scotty in another thread. It makes it sound like the infamous bond does exist and is in place should PanAm fold up their tents & go home (despite it not being "in their plans"). I would think it would be priority #1 of this site to contact whoever it can in the Panamanian governemnt to verify this claim.


Betpanam
Certifiably Crazy
posted January 25, 2004 10:58 AM
Prescription ,
Part of there requirement to obtain a license with the government here in Panama. Is the investors put up 500k thru a bond or a LOC backed by actual funds held in a bank. Those financial instruments are in place if the company ceases operations or if there was any disputes against the company. Which is not in any of the plans.

Scotty

 

[wilheim]

You can bet the Panamanian government is going to pay all in country debts first, along with any employee salaries, and any other local liabilities the books may have before they even consider players betting from outside of Panama. Just my opinion but the bond is required more for the sake of the host country than to settle player disputes.

wil.

 

[SunDevil]

I tend to agree Wil, but you know how the existence of the bond was portrayed here from the get-go and it was not "for the sake of the host country". I know it's a "caveat emptor" world in this industry, but I still believe that those who relied on what they read here are owed a little legwork, that's all.

 

[wilheim]

Sun Devil no question a little legwork is the least we can do. I know its been said already, but lets see what happens tommorow which is a banking day world wide. No banks closed excuses for not being able to fund various payout options.


wil.

 

[SunDevil]

Sounds reasonable Wil. Use post #7000 wisely!

 

[wilheim]

Sun Devil - How is this:

I dedicate my 7000th post to the most sincere wish that EVERY player that has funds at BetPanAm recieve satisfaction, and the book itself survive this very troublesome period, and flourish for a long time.

wil.

 

[Fishhead]

I am hoping this matter gets completely cleared by Tuesday.

 

[BillyB+]

PanAM opened up and the RX says don't worry about your money it's a top 10 book, 500k bond. Krackman guarantees money. Now that they are in trouble some say well they didn't have to put up 500k and Panamanians get paid first. What is it?

 

[Dante]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by wilheim:
Sun Devil - How is this:

I dedicate my 7000th post to the most sincere wish that EVERY player that has funds at BetPanAm recieve satisfaction, and the book itself survive this very troublesome period, and flourish for a long time.

wil.<HR></BLOCKQUOTE>

and I hope they are paid FAST

 

[RPM]

hopefully that money wont be needed to pay the players.

 

[wilheim]

RPM - That no doubt that would be the best thing that could happen to the money, nothing. Hopefully the players that are looking to make withdrawals will be paid with common working capitol, and not bond money.


wil.

 

[SunDevil]

Bump.

Anybody look into this claim yet?

 

[SunDevil]

Meaningless bump #2.

Guess it's more important to research whether an escrow at Neteller is legal or not than to do any legwork on this...

Take a poll from the players on that one!

 

[cecil+]

SunDevil LOL. My exact thoughts. MW and RX should be ashamed of trying to get neteller in trouble and screw players!

 

[SunDevil]

As a matter of fact Cecil, I believe it's time to start that poll...