Dans l'affaire de la faillite de: Les Disques Mile End Inc

May 22, 2019 - What happens when a trustee abandons trust property online and which happens to be 700 songs in electronic commerce?

Assets Are Up For Grabs

The abandonment automatically divests the trustee of its legal title to bankruptcy assets, so the trustee no longer has standing to sue anyone who decides to use and commercially exploit the assets. From this day on, my new label Sunami Records owns and controls the assets.

However, as the abandonment destroyed all exclusive rights in the assets, the only way to exclude others is through aggressive appropriation by adding something distinctive to the assets. I'll show you how it's done. DJs used to do this, so it is ironic that their mixes are now being re-appropriated and repackaged into brand new content they have no control over.

The debtor has zero rights in the assets since December 21, 2015 and no standing to sue. As the total claims against the debtor corp is less than $5M, it won't be discharged, unless all creditors are fully paid.The DJs have standing to sue, because section 83, BIA is supposed to protect them, but they can only enforce their rights under s.83 against the trustee. They can't seek damages from 3rd parties or creditors like me. If their hands are clean, they can move for an injunction.

To legally stop me from keeping profit in excess of my $20,000 beneficial title to the assets, one would have to prove my actual profit, something next to impossible in this day and age. Ever heard of probatio diabolica? Devil's proof. Your evidence is somewhere in the realms of hell, but you get no reversal of burden.

May 17, 2019, If you're reading this, you already know that this is where the film is at. Here is ground zero of our documentary series unfolding in real time, as we've been shooting this pilot since last December, mixing court recordings to the latest EDM sounds. The hearing on February 13, 2019 (historic snowstorm aside) is a culmination of 5 years of international commercial exploitation of bankruptcy assets and 0$ distribution to creditors.

When applied to online assets in 2019, the infamous section 83, BIA invented in 18th century England (never re-written since) emphasizes the rift between old and new property. Smoothies and songs under the same trustee control meet different fates. The internet's the place where dinosaurs go to die.

.

This is an introduction to IP feudalism eluding current legal frameworks. A fallback on medieval concepts, marked by hostile appropriation, armies of bots, and ever-increasing paranoia. A world of encrypted fortresses guarded by electronic alligators, inviting clouds preying on your data, machine learning engagement algorithms (hey tiktok), monetizing on AMSR videos, decryption protocols, coins and wallets (oops quadriga), and all those things worth more than land, or maybe nothing at all...

Représentations du 25 février 2019, Cour supérieure

A. L'actif de la faillite

B. L'évaluation de l'actif

C. La continuation du commerce de la débitrice

D. Le paragraphe 83(2) Loi sur la faillite et insolvabilité

E. Le paragraphe 83(3) Loi sur la faillite et insolvabilité

F. L'abandon de l'actif dans le commerce

G. La distribution de l'actif entre les créanciers

H. Est-il trop tard pour transiger sur l'actif?

Audience du 13 février 2019:

Abandonner un actif de propriété intellectuelle d'une valeur de plus de 220 000 $ dans le commerce électronique équivaut à en faire cadeau au monde entier. Puisque la compagnie débitrice ne sera jamais libérée, la libération du syndic annulera tous ses droits sur l'actif qui demeurera à la disposition de toute personne qui voudra l'utiliser. Sans titulaire, il sera impossible de violer un droit d'auteur quelconque!

Nous avons demandé au tribunal de clarifier cette situation, suggérant au syndic de nous conférer un titre légal sur le nombre de chansons qui correspondent à la proportion de nos créances.

Electronic Evidence Binder, February 13, 2019.pdf

Par contre, si le tribunal valide l'abandon, ce sera un cas où ce qui est trop beau pour être vrai finira par être vrai. Nous aurons carte blanche sur la totalité de l'actif. Chaque créancier pourra exploiter ce qui lui plait de cet actif jusqu'à la hauteur de sa créance.

Par ailleurs, le syndic a offert aux créanciers de se prévaloir de l'article 38, LFI qui leur permet de demander au tribunal l'autorisation d'accomplir les fonctions du syndic. C'est comique, parce qu'en ayant renoncé à ses droits dans l'actif, le syndic a zero droit sur l'actif et zero pouvoir d'agir à l'égard de cet actif. Une autorisation sous 38 aura la même portée: zero.

With respect to online assets, bankruptcy court has officially become the most economically effervescent place to be.

rs@rossitastoyanova.com