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L&L Bank and Trust's Acquisition of 8 Dragon Bank
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Written by Cash Yiyuan
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Saturday, 05 January 2008 |
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L&L Bank and Trust has acquired the recently troubled 8 Dragons bank, listed on the International Stock Exchange. The acquisition looks promising for both all the investors who are involved. Latest News from L&L Bank and Trust posted at ISE: |
Dear Bond and deposit holders, It is a great pleasure to announce that LNL Bank will be acquiring the assets and liabilities of 8 Dragons Bank. So what does this mean for Bond and deposit holders Bond holders Most Bonds have been re-purchased already. We are working with Cocky Dagger to ensure that the rest of the bonds are paid. Eventually a final dividend of $L1 will be paid to all remaining bondholders and BOND will be delisted. Deposit holders LNL Bank has been provided with a full and up to date list of all 8 Dragons account holders. This will require 8 Dragons customers to visit an LNL Bank branch in the coming days to complete the simple process of opening an account. Continue to watch the ISE website for more instructions. LNL Bank is one of SL's most respected and trustworthy brand names, we hope that 8 Dragons customers will be happy with the outcome, of what was potentially a very damaging situation for us all. I would like to thank Lindsay Druart for her efforts and honesty in negotiating this deal. The avatar Rodders Holgado currently has $L95,408 deposited with Tyrian Camillos SLIB Bank. We would ask Mr Camillo to pass these funds onto Ms Druart. We thank 8 Dragons customers for the support they have given us, throughout the 9 months of our operation, I think Maelstrom Baphomet put it best when he said "It's been a good run", but now it is time to concentrate on RL businesses. We wish you all well, should you have any queries please do not hesitate to contact me on
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. Rodders Holgado |
Posted by Lindsay Druart - CEO L&L Bank and Trust at SL Capital Exchange: L&L Bank and Trust's Acquisition of 8 Dragon BankL&L Bank and Trust has acquired 8 Dragons Bank. We have been working out the details of this for a few weeks and I am pleased with the acquisition and how things will proceed. 8 Dragons Bank was closed recently due to issues with Rodders Holgado and Linden Labs resulting in his inability to effectively manage the bank like he wanted. Rodders has been a long time customer of LLBT as well as a stern advocate for transparency and self-regulation of the SL financial market stemming back from the first SLEC of April 2007. I hate to see him go but I do understand.
Nevertheless, L&L Bank and Trust will service 8 Dragon Bank customers with the same customer service we provide to our current customers. 8 Dragon Bank customers that already have an account with LLBT with have their balances updated within 48 hours. New customers will need to go to a special ATM for registration located on the first floor desk of the L&L Bank and Trust Main Branch in Port Druart at http://slurl.com/secondlife/Port%20Druart/104/16/23/, submit a support ticket on the website requesting the balance update, and we will update account information within 48 hours of opening the account. We have the account history from 8 Dragons but there is no information about activity levels so we are maintaining the list for 30 days and evaluating the list based on our dormant account policy for closed SL accounts. Funds cannot be claimed under alts as this is not in line with the Linden Labs TOS and goes against our policies as well.
If you have questions about the transition after opening the account, please submit a support ticket on the L&L Bank and Trust website and we will get back to you within 24 hours. You may also email me at
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and I will respond within 48 hours. Thank you for your continued support.
Sincerely,
Lindsay Druart, CEO
http://www.myllbt.com
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Last Updated ( Saturday, 05 January 2008 )
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