NWTM FILES FOR CHAPTER 11 BANKRUPTCY

[TXSTARFIRE]

http://www.gold-eagle.com/article/pitfa ... avoid-them

[Lemon Thrower]

wow, this is big news, although no surprise to me based on prior personal dealings with them.

[highroller4321]

Another article http://www.wsj.com/articles/west-coast- ... 1459553011

[Lemon Thrower]

http://www.seattletimes.com/business/nw ... rotection/

[everything]

I think people know, they just hope they don't get burned, when they have better prices by a little bit, hold your money for long periods of time, and push shipping dates way out, something ponzi is up and they are cooking the books.

[pennypicker]

they hold your money for long periods of time, and push shipping dates way out,

The very two reasons why I didn't want anything to do with them from the get go....I hate game players especially when it comes to bullion purchases

[chris6084]

they hold your money for long periods of time, and push shipping dates way out,

The very two reasons why I didn't want anything to do with them from the get go....I hate game players especially when it comes to bullion purchases

Yup, they played me. Held my money for 4 months while silver dropped almost 25% during that time. Not sad or surprised at all to see them go down.

[InfleXion]

In spite of the delay tactics, I'm bummed to see these guys go under, having filled my first and only back up the truck moment when I started stacking. Being in their back yard and having someone to call on the phone helped me take the plunge where I might not have been comfortable with online purchases at the time (not to mention getting a pretty good deal). Even after the trades I've made and DCA over the years, a healthy portion of my stack is still NWTM bars. They used to be the largest employer of disabled people in Washington state, before the bureaucracy here pushed them to Nevada, and I wished they hadn't left the state because of that. Although maybe that was a sign the business wasn't in good shape as well. That being said I have not bought from them recently and that's not by accident.

I wonder if there will still be NWTM bars made in the future with another manufacturer absorbing them, or if not, if the bars could eventually develop a collector premium? I suppose some of that would depend on whether the market becomes attractive enough to prevent business closures like this from occurring in the first place. When they started printing NV on the new bars I was happy mine were made here, got my piece of local history if nothing else.

[fansubs_ca]

I do wonder though if NWTM was perfectly solvent before the defamation lawsuit and
that just pushed them under...

http://www.law360.com/articles/760728/l ... ation-suit

(Apologies, when I googled "Northwest Territorial Mint defamation and invasion of
privacy lawsuit" it showed the whole article, apparently if you click the direct link it
only shows the first bit.)

>Hansen said that the statements on the sites were “substantially true, constitute
>opinions and rhetorical hyperbole,” thus protected by the First Amendment,
>according to court documents. He argued that since his websites made statements
>about Cohen's financial status, Cohen should have disclosed his financial records to
>back up his claims that the statements were false, according to court documents.

If Cohen's financial records were not disclosed then how do we know this really
was defamation? Without those being examined this seems like a very questionable
court ruling to me, I can't see how a statement can reasonably be considered
defamation unless it actually _is_ false. (Which can't be determined either way
without examining those records.)

Hansen may have made a judgement error putting up those sites but...

All I know is if this Cohen guy get's "ahead" of people who had an order in progress
in the bankruptcy and it turns out that NWTM was solvent before the lawsuit there
are going to be hundreds (if not thousands) of people that are gonna have an issue
with him. (Fortunately I'm not one of them.)

Basically this may be a lot different than the Tulving situation even if it is just as
bad for the customers. We'll have to wait and see how the bankruptcy settles out.

[Lemon Thrower]

If Cohen's financial records were not disclosed then how do we know this really
was defamation? Without those being examined this seems like a very questionable
court ruling to me, I can't see how a statement can reasonably be considered
defamation unless it actually _is_ false. (Which can't be determined either way
without examining those records.)

when you get sued for defamation, if they prove it was a damaging statement, then you have a defense of the truth. But NWT in this case would have to prove the truth. Now, they could subpoena the financials perhaps but the burden of proof (more likley than not) is on them.

they had shipping delays long before this suit.

[fasteddy]

That's unfortunate...I liked their products. I wish I had more of their stagecoach bars.