ATTN FORMER NOVA TEACHERS

[Langslave]

Xmas would be nice, just a long as it comes.....

[PaisleyLove]

Xmas would be nice, just a long as it comes.....

I think we can think positively about this, based on how the trustees handled our last reimbursement; they really did do an excellent job. Not only did they get us our first chunk of money within six months of NOVA going belly up, but a month after we'd received the cash, they sent an 8 page letter - in English for some of us - to all of NOVA's creditors explaining how NOVA had ended up in such dire straits.

There are those out there who think that we're always going to get the shaft because we're gaijin, and that we wouldn't get unemployment benefits or our back pay back in 2007-2008. Well, we never got screwed by the trustees, only by NOVA.

The trustees are probably taking the time to do this right. I feel fully confident that we'll get some cash, along with a detailed explanation as to where the cash came after these past three years.

[allblacks]

Let me say that it has been great having the old Nova crew around again. Im talking about the people who joined LJ around the time Nova was going under. Dont know where you lot usually go but hope you stick around/drop in occasionally. ABs

[InTheColdLightOfDay]

There are those out there who think that we're always going to get the shaft because we're gaijin, and that we wouldn't get unemployment benefits or our back pay back in 2007-2008. Well, we never got screwed by the trustees, only by NOVA.

Exactly. I lost track of the number of comments and complaints I heard, while we were waiting for the original backpay, from people that seemed to believe that the trustees "owed" them something and were somehow responsible for their situation.
NOVA (more specifically Saruhashi and his cronies) owed us, not the trustees, not the Japanese government and not Japan in general. That point seemed to pass more than a few people by.

[steki47]

Let me say that it has been great having the old Nova crew around again. Im talking about the people who joined LJ around the time Nova was going under. Dont know where you lot usually go but hope you stick around/drop in occasionally. ABs

I was one of those. I came in late 2007 to watch the ship sink. Been here ever since. Great site!

[allblacks]

Yeah I thought you were. Lots of posts in the End of Nova thread. That is a great read. Especially when it all went down. I think LJ had the drop on all the news outlets because of one poster here.

[Pancho]

Ex-sensei is still around, see him from time to time. I joined at the melt down time but spend most of my time on motorbike forums (gaijinriders).

[allblacks]

Aha! Another of ye brethren! I went through the old end of Nova thread the other day just for fun. We all pulled together really well.

[ex_sensei]

Ex-sensei is still around, see him from time to time. I joined at the melt down time but spend most of my time on motorbike forums (gaijinriders).

Do we know one another?

[allblacks]

aha. There he is. The guy who broke the news of Saru's demise. What do you say and what do you know?

[ex_sensei]

Working like a dog, but still in Japan. I'm out of the NOVA loop.

[Stick-Swinging Incident]

Yup, tons of us still around.
I just don't have much time these days and the computer is not a very willing participant. Been enjoying a new hobby, well two of em, making and drinking illicit beverages. (Was LJ that got me on the road to AA, I'd like to thank em ')

Gotta go, got some stuff bubbling away in the other room... dark and potent with a dash of blackstrap mollassus

[PaisleyLove]

Maybe we should start a "What are you doing now?" thread, if it hasn't been done already.

I suggest this for my own selfish reason: whenever I get an alert that there's been a new post on this thread, I anticipate that someone has new information about the money we're supposed to receive.

[allblacks]

You shouldnt be looking here for the info. They should be contacting you and you should be posting that you got the money. ABs

[PaisleyLove]

You shouldnt be looking here for the info. They should be contacting you and you should be posting that you got the money. ABs

I disagree. If that were the case, you wouldn't have started this thread informing us of the trustees notice.

[allblacks]

Actually if you read the thread you will see that the original notice came from someone high up in Nova Gcon. I cant reveal my source but this guy knows whats going on there. I was merely conveying what was posted on facebook to the masses.

[inflames]

I got the mail today. It's 20% of what we're scheduled to get (the remaining amount, so 20% of 20% which is 4%), with the possibility of getting more later. No date was given, although they asked everyone to return the documents by November 10th.

[Cuz]

Yes, I got a letter as well. There are instructions for those living in as well as outside of Japan. The payment is due December 16th, but the form (with appropriate ID and bank account details) need to be back to the trustees by November 10th.

Hop to it!

Best Christmas bonus from NOVA ever.... I wasn't around for the 500 yen debacle, but worked with some who were...

[allblacks]

Oh you mean the 500 yen coins that were either taped or glued to the wall? Jesus Nova was generous. I wasnt working there when it happened but also know some that were.

[steki47]

I got the mail today. It's 20% of what we're scheduled to get (the remaining amount, so 20% of 20% which is 4%), with the possibility of getting more later. No date was given, although they asked everyone to return the documents by November 10th.

Strange, I didn't get a letter. Check on Monday.

[Langslave]

I didnt get mine yet either...20% of 20% isnt going to be very much by my reckoning either. Maybe 40,000 tops for me if my maths is good. Still, yes, better than the 500 yen. I tried to give mine back to the manager but she wouldnt take it

[Ziggy]

I didnt get mine yet either...20% of 20% isnt going to be very much by my reckoning either. Maybe 40,000 tops for me if my maths is good. Still, yes, better than the 500 yen. I tried to give mine back to the manager but she wouldnt take it

I do believe it`s the full 20% and not 20% of 20%.

[PaisleyLove]

I didnt get mine yet either...20% of 20% isnt going to be very much by my reckoning either. Maybe 40,000 tops for me if my maths is good. Still, yes, better than the 500 yen. I tried to give mine back to the manager but she wouldnt take it

I do believe it`s the full 20% and not 20% of 20%.

Just out of curiosity, are you quoting from a letter from the trustees?

[Bernie Kropp]

This is a little complicated for me. I am definitely getting 'the first proportional repayment' which is 20% of my remaining 'claim on the estate'. In other words, I'm getting 20% of the remaining 20% I never got back from the first time.

It says:

#1 ...we are in the situation that we cannot make the repayments in full for the "claims on the estate"*...

#2 Also, the operations to convert assets into cash are almost completed and we do not expect to be able to convert any further large amount of assets. However, currently there are still some ongoing legal actions which we filed in order to recover assets, so it will still be a long time before all the legal proceedings are finalized and the conversion of assets is completed.

#4 In this first proportional repayment, we are planning to repay the equivalent of 20 percent of your current claim on the estate...as of December 16th, 2010.

The trustee site needs to be updated.
http://www.nova.ne.jp/index-trustee.html

[bakadevi]

I scanned the letters I got, minus my bank transfer thing, so you can see what they look like.





Hope that's helpful.

[steki47]

Got the letter today! "First proportional payment" will be Y82,000! Cool!

[PaisleyLove]

Got the letter today! "First proportional payment" will be Y82,000! Cool!

Lucky you; I'm getting less than half of that.

On a lighter note, I'm starting to think I'm in the wrong line of work. These trustees have been employed for three years off of just one bankruptcy. In this current economic climate, it seems like the safest career.

[steki47]

On a lighter note, I'm starting to think I'm in the wrong line of work. These trustees have been employed for three years off of just one bankruptcy. In this current economic climate, it seems like the safest career.

Working at a mortuary would seem like stable work; people ain't gonna stop dying anytime soon.

[sparty]

I got my info too and have noticed that the amount coming to instructors is quite wide ranged. From some receiving less than ¥20,000 to
more than ¥100,000.. . I don't think there was a 5 times difference in salaries at the time of closure and we all got 80 percent of what was owed.Plus this is 20% of what was owed. Im getting a bit more than ¥40,000 which is about what I figured. Where does everybody else stand in this regard?. Were the computatations
done accurately.?

[bakadevi]

I think people are posting the top number, instead of the bottom number. #1 - 161,000(total amount of my claim) #2 - 32,000(what they're sending me)
So, people are just masturbating to the larger number.