Re: Brisconnections shareholders - financial ruin
It is certainly a possibility if you could live with yourself.
You're just worried about 'living with yourself'? What about the potential stress and damage to the person to whom you're offloading them?
However there is bound to be individuals out there who would gladly go bust for 10K
They probably would have no assets to loose and snap your hand off for the opportunity.
Sure, they're just dying for the opportunity to have debt collectors after them, be taken to court etc. If they didn't have a crappy life before, this would sure as hell have it in the bag completely.
If you started a web site you would probably be inundated with offers.
" Earn cash fast" " sign here to recieve your cash payout"
Quite possibly so. And this would absolve you of any moral responsibility in the matter?
Joking apart if one individual decided to become a martyr for the BCSCA shareholders and took on the liability I cant see how the law could reverse it.
And you say this with exactly how much knowledge of the law in this regard?
After all, as stated before ,such an individual would have at least had the benifit of knowing what he/she is signing up for spelled out to them. Something us comsec users didnt have.
That is simply not true. Had you done the research you would have found the information.
My Dad is about to retire, he has no assets, Lives in rented and will have to rely on a state pension.
Puts him in the same category as thousands of others. We are where we are as a result of the decisions we have made on the whole.
I reckon he would consider the option of going bump for 50K.
Well, fine. If he will do this, at least you'll be keeping it in the family and not involving some other sucker.
Let maquirie try and find him in Portugal or spain or France, He would be like trying to find Lord Lucan. And if they did find him, what they going to reposses? his bedford rascal van?
I suspect you are underestimating the resources of debt collectors.
However, that is simply not the point. What you are suggesting is without any moral backing.
Letting someone sign up for theese shares who cant pay is no different to what comsec / BCSA have done.
Even after all this, you still don't have the share code correct!
As I've already said, as have others on this thread, that is just not true.
You failed to do the research.
Difference being some of us have a lot more at stake to loose.
On that principle, you could suggest everyone who has lost money in ABC Learning, MFS, Allco, B. & B. etc etc. who were small investors without the capacity to lose money would similarly be entitled to shove their debt off onto someone else. Why would that be fair?
Also if all those shares fell into the hands of one individual who had absolutely no capacity to repay the debt in a million years, it would be a huge UP YOURS ! to BCSCA and their underwriters who must surley know they will be liable in the end either way cos none of us can pay the installment
Thermalmonster, I've thus far been sympathetic to your situation, even defended you against criticism. I've felt Sunder and some others have been unreasonably harsh in their comments.
But any sympathy I had has now completely gone as I see you trying to justify behaving in a completely amoral way with the passing off of this debt to some poor ignorant desperate schmuk who will grab at any cash offer, their state of mind and general existence rendering them unable to comprehend all the likely repercussions.
So maybe they can't pay up. That doesn't mean they won't be put through the wringer over the debt.
You've suggested your father might jump at the chance of this wonderful opportunity. If he shares your dubious views and general morality then perhaps he will.