Q: How do I complete the Proof of Claim form online?

The Instruction Letter for completion of the Proof of Claim is found here there are additional instructions at the top of the page where the Proof of Claim is found here.

Q: Who is Bossteam E-Commerce Inc. (“Bossteam”) and what is the background of this Receivership?

Bossteam operated three websites:

  • YouAdWorld.com
  • YouAdHK.com
  • YouAdAll.com

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:

  • despite the names of these various products (i.e. shares, consumer credits, memberships and advertising packages), they were all ‘securities’, and that in selling these products Bossteam was illegally distributing securities contrary to the British Columbia Securities Act;
  • Bossteam created the false impression that it was earning substantial income from the sale of advertising to local and international businesses, when in fact Bossteam had little actual advertising revenue;
  • In the circumstances, Bossteam had committed fraud.

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.

Q: Who is eligible to submit a claim?

A: The following persons can submit claims:

  • Anyone who invested in Bossteam or anyone who purchased shares, consumer credits, memberships or advertising packages from Bossteam or through YouAdHK.com, YouAdWorld.com or YouAdAll.com; Note: in the Claim Form, this type of claim is referred to as an Investor Claim
  • Any other creditor of Bossteam or the Repondent Yan Zhu (also known as Rachel Zhu)

Q: How do I submit a claim?

A: You will be able to submit claims in one of three ways.

  1. Completing the Proof of Claim form online, uploading supporting documents, and submitting all of those materials online;
  2. Downloading the Proof of Claim form, completing it by hand and emailing a pdf version, along with scanned documentation to bossteam@ca.gt.com.
  3. Downloading the Proof of Claim form, completing it by hand, printing and submitting with supporting documents either via mail or by facsimile to:

    Grant Thornton Limited
    333 Seymour Street, Suite 1600
    Vancouver BC, V6B 0A4
    Fax: (604) 685-6569
    Attention: Bossteam Claims

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.

Q: What types of proof of payment documents will be accepted?

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.

Q: How do I know if my claim has been submitted?

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.

Q: What if my claim is missing information?

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.

Q: How do I provide supplementary information about my claim after I have submitted?

A: If you need to provide additional information about your claim, please provide this information by email at bossteam@ca.gt.com, 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.

Q: If I don’t receive information from the Receiver, should I resubmit my claim?

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.

Q: How do I update my contact information with the Receiver if I move or change my name?

It is each claimant's responsibility to notify the Receiver, in writing at the email address bossteam@ca.gt.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.

Q: What is the deadline for submitting a claim?

A: All claims must be received by The Receiver before 5:00 pm PST (Vancouver time) on August 4, 2017.

Q: What happens if I fail to file the proof of claim form by the August 4, 2017 deadline? Can I still file a claim? Will it be considered late-filed?

Claims submitted after August 4, 2017 will NOT be accepted and those claimants will not be entitled to participate in any distribution of funds.

Q: When will I be advised if my claim has been accepted or denied?

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.

Q: If my claim is accepted, when will I be paid?

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.

Q: How much will I be paid?

A: The amount distributed to investors will depend on the number and value of successful claims processed. No estimate is possible at this time.

Q: How will I be paid?

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.

Q: How are claims evaluated?

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.

Q: What happens if my claim is not accepted?

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.

Q: How do I learn more about this Receivership?

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.