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 Two individual press releases today, concerning the fate of the failed Ginko Financial were issued by Nicholas Portocarrero and Shaun Altman. Though the separate releases concern the same topic, they each take a very individual tone in what the future of Ginko (specifically Ginko Perpetual Bonds, GPB) will be.
Nicholas Portocarrero says that interest payments on the GPB are no longer an option. Due to a few different factors, including the failure of in-world investments (BNT and HCL), the ban on buying bonds back for less than face value, and the apparent L$2.4 million inside Allenvest, he will be transferring the assets to Luke, and will no longer be involved with anything regarding Ginko Financial. Assets previously held by Ginko Financial are being transferred to the WSE Traders Fund (WTF). Shaun Altman, who is the majority bondholder of Ginko Perpetual Bonds (GPB) says that he has no direct affiliation to any institution at which Ginko (Nicholas Portocarrero) holds assets. He says that IntLibber Brautigan, CEO of Brautigan and Tuck (BNT), has agreed to transfer 8,783,436 shares of Brautigan and Tuck stock from Nicholas Portocarrero's name into his name. He will be acting as a Second Life trust, taking possession of and liquidating all GPB assets, so that a cash liquidation dividend may be provided to all GPB bondholders. His press release says that if you are currently in possession of, or "listing" GPB assets, you should contact him prior to October 31, 2007 to arrange for the assets to be transferred into his name, for liquidation. The individual, original press releases can be found here:
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