This is an open letter in response to the insane IMSCQ bankruptcy filing document 566, filed by Kimberly Crum.
Dear Ms Crum:
You should have consulted an attorney before making yourself look so foolish with the pointless filing you filed with the bankruptcy court on Feb 22nd. Instead, you probably took bad advice, or just winged it on your own to save money, and filed this yourself, and the result is entertainment for the entire world!
Let me TRY to explain to you the situation. According to your filing, you first called the company trying to make a bankruptcy claim. They TRIED to tell you (as you mentioned in your filing), but as you apparently ignored, chapter 11 bankruptcy claims exclude equity holders, by definition! This concept is even below the level of bankruptcy 101 or business 101, showing that you seem to have no understanding of the ways of business nor the law.
I'll pick out a couple of parts of your filing that totally entertained me. I love when you "urge the court to disallow the objections to my claim". Ms Crum, courts rule by law, not what people, especially people like you, with a vested interest "urge" the court to do. The judge rules by following the law, not opinions of people who fail to understand the basics of bankruptcy and the law. Urging a judge to rule against basic law is ridiculous!
Further, what if I write to the judge and urge him to find you in contempt of court? Should he rule as I ask? After all, I "urged" him to find in my favor, so isn't that enough?
Now, for pure comedy, first, I love how you separate yourself from the debtors as if you had no relationship. You own this damn awful stock, this makes you a part owner of the very company that owes the debt! You start out by saying "The Debtors state that I do not have a claim because of the equity being stock" Yes, exactly! Simple basic common sense! As I said, business 101, bankruptcy 101.
But, that is not enough, you go even further, telling us "regardless of case law that they sited, my stocks provide interest in repayment of my claim and full recovery by law"
Where do I start? Let's start at the end. You claim the law supports your "full recovery", which is an insane concept. Now, this is a court filing. Did you think of showing us and the judge exactly which law that you think supports your claim for "full recovery" in this case? One thing I see again and again with unknowledgeable shareholders is they talk about the law without siting any actual laws! Now of course, had you had the skills or knowledge to understand the law, you would have found that there is no such law, despite your imagination or wishes. Do you understand the level of insanity that you have demonstrated here by claiming that the law supports your "full recovery", yet not being able to site a single law which you think supports your contention?
Okay, now the first part. You ask the judge to find in your favor, "regardless of case law"! What? Seriously? You are talking to a court, which by definition, functions to rule on the basis of law, and you tell the court that it should find in your favor "regardless of the case law"? This is full blown insanity! This is why I follow the pink sheets! Nowhere else in the world would you find people filing silly, ignorant, foolish filings like this in a court.
Ms Crum, you have provided me endless entertainment! The great part is that your document will be public forever, allowing the world to peek into your cluelessness.
Why couldn't you have spent a few hundred dollars on a lawyer and saved yourself eternal embarrassment? Even an incompetent lawyer would have stopped you from filing this!
Alas, on March 21st, the court threw out your silly claim! Why? Because you're a damn equity holder, and you have no valid claim, which the company tried to tell you months ago!!!!!!!!! Duh!
Now, I'm going to give you some free advice. You obviously fail to understand even the basics of the legal system, just like you likely also fail to understand investing. Understanding the difference between debt and equity, and their respective rights in bankruptcy is something that is on the level of a high school business course! You fail to understand this, yet still attempt to invest in pink sheet companies! Please, for the sake of your family, sell all your pink sheet stocks (I suspect you own many) and put the funds in an S&P Index fund! Please!
(This is another example of why I say nothing is as entertaining as the pink sheets! You won't find this kind of insanity anywhere else!)
