Envion — a 2020 roundup
► note: this story was first published on 21st of April 2020 ◄
It’s been a while since our last article. You might think that nothing really has changed since then but the opposite is true. We are indeed talking about Envion, the fallen ICO star of 2017 and the people behind it, not about the Covid-19 pandemic and the global deadlock. However, the standstill might also play into the hands of those who still think they own a part of the booty. The managing director of Trado GmbH, Michael Luckow, and his lawyers have been playing for time, until now. They think they’ll be fine if it drags on any longer. This can be an aspect later when talking about deadlines and meeting them in the courts. Let’s keep that in mind for now.
Meanwhile, investors are getting impatient and waiting for results. These are expected soon. From the point of view of the plaintiffs in Berlin, the first judgments will probably be handed down by the end of April, 2020. The liquidator has also officially come forward with a first report. 6,000 creditors registered and submitted over 57 million tokens. How much of a prospective refund will bring for the investors? The figures suggest that a refund will be more than 50% (nominal 0.5 CHF / EVN token). That is good news for now.
However, the battle at the liquidator’s desk has only just begun and will probably take some time. Due to the current (COVID-19) situation, major events may not be held in Switzerland. Since more than 600 investors have registered to attend a planned Creditor’s Meeting, we will probably have to wait until government regulations are relaxed. As a reminder to all investors: The official website of Envion’s liquidation office is http://www.envion-konkurs.ch
Just to make it clear to all actors: We have not been idle over the past few months. We are pleased to announce further facts, which we will publish here in the coming weeks. This concerns not only matters relating to the ongoing civil proceedings but also the facts about the FINMA report. We will also shed more light on the subject of the shady Liquidation Upgrade program (LUP) initiated by the Envion founders.
Some have wondered if there was a settlement offer in the civil cases. Indeed, there was a settlement offer from DWF, the lawyers of Trado. This was submitted to the plaintiffs at the beginning of April, 2020. The conditions, not surprisingly, were rather ridiculous. Michael Luckow was probably hoping that the plaintiffs would give up, give in and be satisfied with bread crumbs. Using the same tricks as in the past, the other side wanted to bait the plaintiffs with promises. One may be astonished, among other things, that a participation in LUP and absolute silence (NDA) were to be part of the “deal”. Furthermore, a settlement offer was only valid if at least half of the plaintiffs agreed. This offer tells a lot.
Someone is seemingly panicking here?
Is the money possibly running out? Further details of the settlement offer will be published soon. It shows irrefutably what makes these men tick and why it is important to disclose these machinations and how they conducted themselves.
Stay tuned, fellow investors!
PS: A special message to “our best friend”:
Dear Mister Luckow, the final curtain has not yet fallen.
