Bossteam operated three websites:
In 2011 and 2012, Bossteam raised in excess of $14 million from investors through the sale of shares, consumer credits, memberships and advertising packages. The British Columbia Securities Commission found, among other things, that:
The full text of the Securities Commission’s decisions can be found here.
As part of its investigation, the Securities Commission froze in excess of $10 million held in bank accounts in the names of Bossteam and the individual respondents. These funds represent funds received from investors and will now be available for distribution to investors and other legitimate creditors who file claims through this receivership process.
A: The following persons can submit claims:
A: You will be able to submit claims in one of three ways.
Note: The Receiver makes every effort to minimize the claims' processing costs in order to maximize the potential amount distributed to the claimants. In order to ensure claims are processed as efficiently and as quickly as possible, investors who are able to submit online are strongly encouraged to do so.
Scanned or printed documents proving that you made a payment or payments to Bossteam, YouAdHK.com, YouAdWorld.com or YouAdAll.com (including copies of cancelled cheques or money orders, wire details to payments made to Bossteam e-Commerce, screenshots showing payments made online or receipts received) will be accepted.
A: After you have submitted a claim online, you will see a notification on the webpage confirming that your claim has been successfully submitted. You will also receive an email message advising you that your claim has been successfully submitted and providing you with a claim identification number. This does not mean that your claim has been adjudicated or accepted. Adjudication of claims will not be completed until after August 4, 2017.
Please note that you will need to reference your claim identification number in any further correspondence with the Receiver.
A: The Receiver will review the information and documents that you provide (e.g. proof of payment to Bossteam) and assess your claim based on that information and those documents. Receiver may contact you to request additional information. Please note that it is each claimant’s responsibility to file sufficient information and documents with the Receiver to support each claim.
A: If you need to provide additional information about your claim, please provide this information by email at firstname.lastname@example.org, referencing your designated claim identification number (originally assigned to the claim upon submission), which will allow the Receiver to associate your request with the correct claim and Receivership. Do not submit this information as a new claim or through the online claims submission process.
A: If you receive a notice that your claim has been submitted, no further action is required. If the Receiver requires more information from you, they will contact you directly at the email address that you have provided. Please do not submit your claim more than once as this will slow down the process.
It is each claimant's responsibility to notify the Receiver, in writing at the email address email@example.com, if there is a change in their name or mailing address. When corresponding with the Receiver, be sure to reference your designated claim identification number (originally assigned to the claim upon submission), which will allow the Receiver to associate your request with the correct claim and Receivership.
A: All claims must be received by The Receiver before 5:00 pm PST (Vancouver time) on August 4, 2017.
Claims submitted after August 4, 2017 will NOT be accepted and those claimants will not be entitled to participate in any distribution of funds.
A: You will receive notification from the Receiver, by email, after August 4, 2017 if your claim has been accepted or denied. Please ensure the email address you provide on your claims submission is your primary email address.
A: The Receiver is not able to begin distributing payments until after the claims deadline (August 4, 2017) has passed. We cannot at this time confirm how soon after August 4, 2017, payments will be made.
A: The amount distributed to investors will depend on the number and value of successful claims processed. No estimate is possible at this time.
A: If your claim is accepted, you will be receiving a cheque in the mail. Please ensure that you provide the Receiver with the correct mailing address on your Proof of Claim form.
The procedure for the filing and evaluation of claims in this Receivership is set out in the Claims Process and Distribution Order, a copy of which is located in the Documents page.
A: If the Receiver disallows all or a portion of your claim, the Receiver will send you a Notice of Disallowance. If you disagree with the Receiver’s decision, you may appeal the Receiver’s decision following the appeal procedures set out on the Notice of Disallowance and the Claims Process and Distribution Order. Please note that the timelines for an appeal must be strictly adhered to.
A: If you would like to learn more about this Receivership, please visit the Documents page, which includes all legal and other documents pertaining to this receivership.