Shaun Altman's Blog!: Ginko Perpetual Bond Liquidation Plan

Ginko Perpetual Bond Liquidation Plan

Shaun Altman — Sat, 20 Oct 2007 18:46:00 -0700

FOR IMMEDIATE RELEASE
October 20, 2007

GINKO PERPETUAL BOND LIQUIDATION PLAN

Greetings,

I'm Shaun Altman. As the majority bondholder of Ginko Perpetual Bonds (GPB), as well as an independent third party with no direct affiliation to any institution at which Ginko (Nicholas Portocarrero) holds assets, I am taking it upon myself to oversee the fair and equitable liquidation of GPB's current assets, and the timely compensation of all bondholders.

My avatar is currently acting as a virtual liquidation trust, to take possession of and liquidate all GPB assets, so that a cash liquidation dividend may be provided to all GPB bondholders. I have spoken with IntLibber Brautigan, CEO of Brautigan and Tuck (BNT), who has agreed to transfer 8,783,436 shares of Brautigan and Tuck stock from Nicholas Portocarrero's name into mine. This share balance represents GPB's entire holding of BNT shares, and establishes my virtual liquidation trust. IntLibber Brautigan has farther agreed to act as a broker for my virtual trust by selling GPB's land in its estate, and providing the L$ resulting from this sale to my trust for distribution to GPB bondholders. Brautigan has also agreed not to impose any additional burden on GPB bondholders by requiring my trust to pay tier on the land in question.

I will continue collecting GPB assets for liquidation until October 31, 2007. If you are currently in possession of, or "listing" GPB assets, please contact me prior to October 31, 2007 to arrange for these assets to be transferred into my name for liquidation. If you KNOW anyone who is in possession of, or "listing" GPB assets, please ENSURE that they see this press release and contact me prior to October 31, 2007. If Nicholas Portocarrero has any remaining cash or other assets that he intends to return to GPB shareholders, he should contact ME prior to October 31, 2007 to transfer said cash and other assets to my Second Life account for liquidation and subsequent distribution of proceeds to GPB bondholders. If not, he should leave me an IM stating that he will not be returning any of the $750,000.00 USD worth of cash and other assets to his bondholders.

On November 1, 2007, I will be distributing another press release to major Second Life media centers documenting the following:

1. All assets (cash, stock, land, etc) that I was able to recover for liquidation and subsequent distribution of proceeds to GPB bondholders.

2. All known GPB assets that have been stolen by third parties who refused to provide them for liquidation and subsequent distribution of proceeds to GPB bondholders, and the names of the parties responsible.

Once all recovered assets have been publicly documented, I will begin liquidating all non-cash assets to recover as much cash as possible for GPB bondholders. Once this liquidation is complete, I will distribute a third press release to major Second Life media centers documenting the total amount of cash that was recovered for GPB bondholders. At that point, I will hand all cash to LukeConnell Vandeverre, who maintains GPB's bondholder records, for IMMEDIATE distribution as a cash dividend to GPB bondholders. Once this liquidation dividend is posted to the accounts of GPB bondholders, GPB will be considered fully liquidated and all bonds should be delisted.

I will be charging nothing for my liquidation trust service. I believe that GPB bondholders have been through enough at this point, and have a right to recover as much as they can from this fiasco. Being the person with the most GPB bonds, as well as a neutral third party to asset holders, makes me the right person to handle this liquidation. The ball is already rolling, so I ask that all bondholders recognize this, and recognize that I am working in all of our best interest. I hope that it makes you happy to know that someone is finally working in YOUR best interest for the first time in a long time. I hope that I will be able to recover a sizable portion of GPB's assets for distribution to all of us, but I can't make any promises.

To be clear, I am not acting as a CEO of Ginko, nor am I in any way affiliating myself with Ginko. I am merely overseeing the liquidation of a failed virtual "business" that operated, or was based in, the Second Life world, so that its investors can recover as much as possible.

Regards,
Shaun Altman

"Ginko Perpetual Bond Liquidation Plan" by Angela

Mon, 12 Nov 2007 22:27:50 -0800

So the GPB is totaly gone? the bonds is nothing now?

"Ginko Perpetual Bond Liquidation Plan" by Wolphin

Mon, 12 Nov 2007 00:23:20 -0800

wow - an actual worable plan to recover our "investments"

"Ginko Perpetual Bond Liquidation Plan" by Destini Moore

Fri, 09 Nov 2007 08:39:07 -0800

ya dont worry I never planned on getting too excited and cut my losses and tried to start over. was just wishing ya luck.

"Ginko Perpetual Bond Liquidation Plan" by Angela

Sat, 03 Nov 2007 21:44:50 -0800

I was not in town for a month, and this all happened when I away, can anyone tell me what can I do now? all my GPB is turns to WTF now.

"Ginko Perpetual Bond Liquidation Plan" by danielle

Thu, 01 Nov 2007 21:20:58 -0800

Shaun, The GPB's at WSE are converted into another bond: WTF. How does your plan relate to that? If you get some cash out of your plan, are you then buying the WTF or how does it go from there? Will you transfer the cash to the WSE and will it be distributed as an extra divident? If so: the GPB no longer exists so I figure the WSE is not waiting for your next move?

regards.

"Ginko Perpetual Bond Liquidation Plan" by Uccello Poultry

Thu, 01 Nov 2007 17:16:38 -0800

Where is the best place for updates on the Ginko situation?

"Ginko Perpetual Bond Liquidation Plan" by Shinji Usobuki

Thu, 01 Nov 2007 16:43:14 -0800

Hi Shaun,

Did Mr. Portocarrero ever respond to your liquidition plan? Were you able to reach him at all?

There are lots of people who'd like to see what the next step is here as far as seizing his assets.

Regards, Shinji

"Ginko Perpetual Bond Liquidation Plan" by Shaun Altman

Mon, 22 Oct 2007 15:46:25 -0700

S, please shoot me an IM in-world.

"Ginko Perpetual Bond Liquidation Plan" by S

Mon, 22 Oct 2007 09:58:44 -0700

Shaun, just to clarify - you weren't the majority bondholder (which would require over 50% of the bonds), you were the largest single bondholder with around 4%.

That aside, I'm another fairly large holder (around 1%) and I'll be happy to offer whatever support I can to this plan.

For me, it was a speculative punt with some free cash I had. I understood it was a high-risk gamble, and didn't really expect to see anything come of it.

"Ginko Perpetual Bond Liquidation Plan" by Shaun Altman

Mon, 22 Oct 2007 01:47:14 -0700

Hi Destini,

The in-world assets I'm going to be able to recover don't amount to much, so please don't get too excited. At this point though, I think we can all agree that anything is better than nothing at all.

"Ginko Perpetual Bond Liquidation Plan" by Destini Moore

Sun, 21 Oct 2007 20:27:25 -0700

thank you shaun I wish you luck alot of us lost alot and have just figured we lost all and tried to start over.

"Ginko Perpetual Bond Liquidation Plan" by Shaun Altman

Sun, 21 Oct 2007 00:39:34 -0700

Sorry if I was not clear. Ginko bondholders do NOT need to contact me. You are already on record at World Stock Exchange, and hopefully World Stock Exchange will not destroy your bond ownership records. Who I need to contact me, is anyone currently in possesion of ASSETS belonging to Ginko (and thus to bondholders), which need to be liquidated so we can receive a liquidation dividend.

-Shaun

"Ginko Perpetual Bond Liquidation Plan" by Rusty Roar

Sun, 21 Oct 2007 00:21:27 -0700

Good on you Shaun for taking on such a mammoth task. One question, what is the best platform to contact you on with the relevant details re GPB holdings?

"Ginko Perpetual Bond Liquidation Plan" by Shaun Altman

Sat, 20 Oct 2007 22:49:52 -0700

Hi danielle,

My blog is pretty young and doesn't get too many replies. My press release is also being provided to several Second Life media sources, including Reuters, Second Life News Network, Second Life Insider, Your2ndplace, Second Life Herald, and probably a few others as time goes on. Some have published already, while others may or may not. Thanks so much for your interest. If you would like to ensure that this press release reaches the maximum possible audience, please share a link to the news source of your choice with your friends, and ensure that they do the same.

"Ginko Perpetual Bond Liquidation Plan" by danielle

Sat, 20 Oct 2007 22:03:36 -0700

WOW, posted 3 hrs ago and no replies? Are you sure you represent enough people to take such a big task on you?

Also, Portocarrero's announcement was posted 4 times at the WSE site but I couldn't find yours. Do you think you can reach enough people with this anouncement? Or is it not supposed to reach enough people?