News Article: Eugene Melnyk lawsuits:too many to count...

[DaveMatthew]

How does he get bank drafts differently than we do?

The dispute is over dishonoured bank drafts but they are not at all part of the story?

Do you think he tendered payment or not?

Melnyk did not pay his debt, and that is why he’s being sued.

The vehicle he used is a minor detail. It’s apparently a bad bank draft, but just as easily could have been a bounced cheque or unsuccessful wire.

What’s important though is that he lost 900k, and then could not, or chose not, to pay.

The lawsuit isn’t about the bank drafts. It’s about the outstanding debt.

 

[slamigo]

How does he get bank drafts differently than we do?

The dispute is over dishonoured bank drafts but they are not at all part of the story?

Do you think he tendered payment or not?

So you figure Melnyk goes down to BMO and waits in line to get some bank drafts printed up?

Again, the exact instrument for payment doesn’t matter. What matters is that he got in a dispute with a casino over a weekend’s worth of gambling that cost $900k and he’s somehow managed not to pay for.

 

[Nac Mac Feegle]

I don't expect the cavalry to come in, but, gambling debts and pro sports are such a bad mix, that the league likely has recourse if things ever got really bad. I think even just a reminder from the league, and encouragement to get these stories taken care of and out of the news.

That's the big issue here. Doesn't look good....especially after so many big reffing controversies this playoffs. Also gives a lot of credence to any tinfoil hat theories that could emerge both with the Sens and around the league.

Melynk and our hate of him aside, the NHL really needs to get a lid on anything even remotely close to gambling in the league. Way too easy for folks to look at things like huge upsets (Tampa), unusually low contracts (Labanc) or even the draft lottery and start wondering if there's something else going on behind the curtain. Fans losing faith in the integrity of the league will kill the NHL faster than anything else.





***not saying I necessarily believe in the tinfoil hat stuff....but damn, there's a lot of ammo there for someone to look at the NHL and start to wonder.

 

[Sensmileletsgo]

So you figure Melnyk goes down to BMO and waits in line to get some bank drafts printed up?

Again, the exact instrument for payment doesn’t matter. What matters is that he got in a dispute with a casino over a weekend’s worth of gambling that cost $900k and he’s somehow managed not to pay for.

How doe he get bank drafts? Im asking so future rich me knows.

 

[2CHAINZ]

How doe he get bank drafts? Im asking so future rich me knows.

He gets them the same way poor people get them.

 

[AchtzehnBaby]

How doe he get bank drafts? Im asking so future rich me knows.

How Bank Drafts Work and How to Cancel One

https://digitalcommons.osgoode.york...sredir=1&article=1653&context=scholarly_works

 

[Sensmileletsgo]

How Bank Drafts Work and How to Cancel One

https://digitalcommons.osgoode.york...sredir=1&article=1653&context=scholarly_works

A 41 page document on bank drafts? Hopefully Slamingo tells me how rich people getting bank draft so I don’t have to read that.

 

[AchtzehnBaby]

A 41 page document on bank drafts? Hopefully Slamingo tells me how rich people getting bank draft so I don’t have to read that.

The first link is Bank Drafts for dummies.

Second link is legal crap... just ignore it.

 

[The Lewler]

How doe he get bank drafts? Im asking so future rich me knows.

It involves private wealth management arms of wherever he has money stashed.

Normal people can’t get bank drafts at 11pm on a Friday.

 

[Gil Gunderson]

In all seriousness though... this has to be the end of the line here, no? How much more can the league take of this?

Until he can’t make payroll.

 

[Tighthead]

So you figure Melnyk goes down to BMO and waits in line to get some bank drafts printed up?

Again, the exact instrument for payment doesn’t matter. What matters is that he got in a dispute with a casino over a weekend’s worth of gambling that cost $900k and he’s somehow managed not to pay for.

I'm sure he has personal banking services.

Explain in detail how that difference plays in the dispute?

You are saying the bank drafts don't matter, but are also saying they are different. If they aren't relevant, why do you discuss the specific nature of how he obtains them?

Are you saying the validity of the drafts is based on the method he uses?

 

[Tighthead]

Melnyk did not pay his debt, and that is why he’s being sued.

The vehicle he used is a minor detail. It’s apparently a bad bank draft, but just as easily could have been a bounced cheque or unsuccessful wire.

What’s important though is that he lost 900k, and then could not, or chose not, to pay.

The lawsuit isn’t about the bank drafts. It’s about the outstanding debt.

The fact that the drafts were revoked could very well be evidence of greater financial peril. It's very unusual and could well be a red flag.

The discussion is not confined to the four corners of the lawsuit.

 

[BonkTastic]

Normal people can’t get bank drafts at 11pm on a Friday.

Normal people also don't get almost a million dollars in personal bank drafts in one day.

Nothing about this is normal, really. It's definitely going to be interesting once we get more details.

 

[The Lewler]

Normal people also don't get almost a million dollars in personal bank drafts in one day.

Nothing about this is normal, really. It's definitely going to be interesting once we get more details.

Normal people also don’t get 3 bank drafts totalling at least 500k issued between 11pm and 1157pm on a Friday night.

I love that part. That’s an indication he was losing big.

 

[Silencio]

Until he can’t make payroll.

Nah, he'll just make Dorion trade whoever he can't pay for pennies on the dollar.

 

[Artanis]

Nah, he'll just make Dorion trade whoever he can't pay for pennies on the dollar.

T.Chabot? Yeah we can't sign him, we've got gambling to do!

 

[Micklebot]

There are a few prominent questions this lawsuit raises.

1. Why did the bank not honour the bank drafts.
2. Why is it that after it became clear the bank wasn't going to honour them, that the casino, Melnyk and the bank arrange to find alternate payment options. Banks can't just not honour a draft, and keep the money for themselves. Is the physical draft now missing, or do they still have it?
3. Why is the bank not a target of the lawsuit? If both Melnyk and the Casino don't have the money, presumably one or both would be upset with the bank.

 

[BloodRedArmy]

Until he can’t make payroll.

I don't buy that. Maybe on paper "there's nothing they can do", but there's always a way, especially when 30 ultra rich men are being embarrassed.

 

[Tnuoc Alucard]

That is a 4 year old list.

He dropped off the official Forbes list of billionaires in the most recent list.

By all accounts, he hasn't been a billionaire for a couple of years.

So 2018 (Big Red Numbers) was 4 years ago???

 

[OgieO]

Melnyk is a tool, no big news there. But the bank draft tickles my curiosity. My guess is the bank would not honor it because of funds crossing the border for purposes of gambling. Just a guess though, with very few details. But I've never come across bank not honoring a bank draft before - interesting.

Congrats to Eugene for finding a way to weasel out of what is pretty much a bank guarantee. He's another step closer to Monty Burns.

 

[Tighthead]

There are a few prominent questions this lawsuit raises.


3. Why is the bank not a target of the lawsuit? If both Melnyk and the Casino don't have the money, presumably one or both would be upset with the bank.

The casio may not have a cause of action against the bank. The fact that they are not named is telling.

Melnyk may name them as a third party defendant.

 

[otown]

You can bet Ottawa's top notch investigative sports journalists are all over this!

 

[BonkTastic]

So 2018 (Big Red Numbers) was 4 years ago???

Well, @BondraTime already covered that issue on their webpage basically immediately after I posted that, which perfectly explains the confusion on the matter, but yeah, feel free to jump in a day late and a page behind.

Here, I'll give you the quick reference on what happened:

It's a strange page. The top says December 2015, but the article states 2017.

You're welcome.

 

[Sens of Anarchy]

Well, @BondraTime already covered that issue on their webpage basically immediately after I posted that, which perfectly explains the confusion on the matter, but yeah, feel free to jump in a day late and a page behind.

Here, I'll give you the quick reference on what happened:



You're welcome.

A day behind is an improvement.

 

[Alex1234]

T.Chabot? Yeah we can't sign him, we've got gambling to do!

Can't see how TC doesn't receive 30-31 offer sheets at this point, next summer

BTW does anybody knows when exactly is Seattle allowed to make any NHL move such as offer sheets?