International Law

Bowdoin's Last Call?

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Patrick Pretty is reporting on his website that Bowdoin has given his last public performance regarding Ad Surf Daily.

"The embattled president of Ad Surf Daily no longer will participate in conference calls at the advice of his attorneys, ASD members report.

Andy Bowdoin held his final conference call night, predicting that ASD would be cleared and announcing that the company will hold a series of contests and award advertising credits to winners, members said.

Meanwhile, Clarence Busby, the embattled head of Golden Panda Ad Builder, announced that his lawyers would meet with government lawyers Friday.

This would be the second such meeting. Busby earlier declared in court papers that Golden Panda was separate and distinct from ASD."

Meanwhile, what has happened in the Court action?

Busby had filed a motion seeking the release of funds, primarily on the grounds that Golden Panda was unrelated to Ad Surf Daily.

What has been the Government's response to the Golden Panda motion?

"Like Bowdoin, Busby should be prepared to explain how a company that promises to return 125% of its revenue is a profitable advertising company, not operating as a Ponzi scheme.

After all, if Busby can demonstrate that GP legally earns a profit, the government might consent to a release of some seized funds at this time."

That does strike me as a bit of difficulty.  But, I suppose that I am just not seeing the big picture.

Full post as published by Misleading Advertising Law on September 11, 2008 (boomark / email).