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This has been discussed here before. Opt ins were migrated not liquidated which is why the liquidator has no responsibility if Quenta goes down in flames. Even if what you say could happen why would everyone get payed the same amount? If I had 5 one dollar accounts would I get 50k for those?

Why would opt ins share their gold with each other? They are not part of the liquidation. Their assets have been moved from point A to point B just like when EPB moved from St Vincent to Puerto Rico. What you are suggesting is wishful thinking.

You could contact the receiver, but generally speaking you should get the same amount as an opt in as you would have as an opt out so unless things go south there won't be any difference either way.

If you are opt out and you already asked Quenta then you should ask the receiver. If you made the transaction after EPB was suspended then obviously it did not go through. We would not be talking if any of those transactions would have gone through.

They didn't force me to sell. The whole point of opt in was that you didn't have the sell.

The only one we could realistically sue is OCIF, but it would cost more than what I have had in the bank. It is unlikely to speed up anything though.

In that case there's nothing anyone could have done to prevent the outcome.

Hindsight is 20/20

There's no money missing. The liquidator wants to change the agreement with Quenta for unknown reasons. They are keeping people in the dark as always, which tends to make people upset, hence the number of posts on this thread.

Because people are accusing PS of the same nonsense over and over again and suggesting a class action lawsuit against him despite him loosing tens of millions of dollars. Maybe that is why. In a fractional reserve system a bank that is not under capitalized is a fairy tale. Choice is an...

Are we playing the blame game again? If we are then I don't believe it was appropriate for OCIF to block the re-capitalization or the sale or the liquidation by PS of the bank. The only ones OCIF managed to punish was the customers who should not be blamed for a bank being under capitalized. If...

It was in gold. I suspected liquidation would take years given how hostile OCIF and the IRS was behaving towards us so even though I wanted to opt out I didn't want to risk keeping my money in dollars. According to Lugo they want to change the agreement between them and Quenta, but Quenta is...

Look at how people react to the messages of PS. At some point they will ignore you if everyone keeps bashing the person who is willing to respond. As of today I would have lost 45% of my deposit if I choose to opt out. Also as of today neither opt in nor opt outs have gotten anything so making...

How could a liquidator promise to repay everyone in full if there's a lack of capital? It was a lie that's how. If a bank is missing X amount of dollar and the regulator does not allow to put the missing X into the bank then as simple logical consequence the bank will fail. It's like saying: you...

Why does Lugo want to change the plan two and a half years after it was adopted? Is Lugo saying that everyone will become an opt out?

Well, before it was Quenta and the Trustee who did not share info. I'm wondering what would happen if a parking lot went out of business. Would they just use the cars as collateral? The way this process works feels a bit off.

I think it is okay for me to share that ever since the lawsuit PS has been left out of the loop so even if he was here right now he could not give anyone an update.

https://europacbank.com/support/commencement-of-liquidation-20220829/ https://europacbank.com/support/qenta-welcome-letter/

So OCIF is not responsible for agreeing to the deal? Wouldn't that create moral hazard where anyone could just give a cut to OCIF for sharing with them other peoples money?

There were no terms. If you didn't make a transaction to your local bank of everything you owned you became an opt in. Opt in was the default. They said if you opt in you can take everything out on day one; so assuming everything went according to plan there was no point to an opt out and have...