Reply To: (KS) Ninja Division/Soda Pop out of money for Super Dungeon Explore: Legends

[maledrakh 11996xp 0]

You know, when the attorney gets general involves themselves, it is usually far beyond the point of no return.

It would seem that the company has mismanaged the funds to a tune of several millions of dollars with little or nothing to show for themselves. I for one do not assume there is any criminal intent, but still. The end result for backers is much the same.

At this point in time, I would think that it is safe to assume these projects to be failed.  There is no actual recourse for backers to get their money back after the chargeback period for any credit cards has passed.

In case of a bankruptcy, the backers will be last in line to get anything. In case of another company buying the assets, there will be a clause in the purchase agreement that states that the buyer does not assume any reponsibility for any liabilities (i.e. debts and backer claims). They only buy the assets.

In such cases the new company often make an offer to existing backers to get items at cost or a low price as a goodwill gesture. But that is usually the best backers can hope for, and is contingent on paying more money.