Petition to the Securities and Exchange Commission (SEC) to Modify the Revocation Order
Petition to the Securities and Exchange Commission (SEC) to Modify the Revocation Order
The Issue
To: The Honorable Members of the Securities and Exchange Commission
Subject: Urgent Request for Amendment of Revocation Order to Ensure Disbursement of Funds to Sellers
Petitioners: Affected Seataoo Sellers Around the Globe
Date: August 17, 2024
Introduction:
We, the undersigned, respectfully submit this petition to the Securities and Exchange Commission (SEC), urging an immediate modification to the Revocation Order issued against New Seataoo Corporation. The primary purpose of this petition is to address the pressing issue of unpaid funds owed to sellers and account holders on the Seataoo platform, which have been withheld since the cessation of Seataoo’s operations. It is imperative that the SEC takes swift and decisive action to ensure that these funds are disbursed directly to the rightful owners without any further delay.
Request for Modification of Revocation Order:
We request that the Revocation Order be amended to include a specific clause mandating New Seataoo Corporation to disburse all funds held in their accounts to the affected sellers. The funds must be transferred directly to the sellers' bank accounts or designated financial institutions. The amendment should ensure that New Seataoo Corporation is not given control over these funds and that the process is overseen by the SEC to guarantee transparency and fairness.
Role of Banking Institutions:
We also call upon the SEC to instruct all banking institutions holding funds associated with Seataoo to fully cooperate in the disbursement process. The banks must ensure that all funds are directly credited to the sellers' accounts without any interference or delay by New Seataoo Corporation. This measure will provide a layer of security and prevent any attempts by Seataoo to access or withhold these funds.
Legal and Technical Oversight:
We believe that all legal and technical matters related to this process should be handled by the SEC in collaboration with New Seataoo Corporation. The sellers, who are the rightful owners of the funds, should not be burdened with the complexities of legal disputes or conflicts between the SEC and Seataoo. Our primary concern is the prompt and efficient return of our funds, and we trust that the SEC will act in our best interest to facilitate this.
Conclusion:
The sellers and account holders affected by the abrupt halt in Seataoo's operations are in urgent need of the funds owed to them. We implore the SEC to take immediate action to modify the Revocation Order, ensuring that the disbursement process is handled transparently, efficiently, and without any further hardship to the affected parties.
We thank the SEC for its attention to this matter and trust that the necessary steps will be taken to protect the interests of the sellers and account holders.
Please READ and COMMENT on this link.
Respectfully submitted,
Vincent Torre Bongolan
718
The Issue
To: The Honorable Members of the Securities and Exchange Commission
Subject: Urgent Request for Amendment of Revocation Order to Ensure Disbursement of Funds to Sellers
Petitioners: Affected Seataoo Sellers Around the Globe
Date: August 17, 2024
Introduction:
We, the undersigned, respectfully submit this petition to the Securities and Exchange Commission (SEC), urging an immediate modification to the Revocation Order issued against New Seataoo Corporation. The primary purpose of this petition is to address the pressing issue of unpaid funds owed to sellers and account holders on the Seataoo platform, which have been withheld since the cessation of Seataoo’s operations. It is imperative that the SEC takes swift and decisive action to ensure that these funds are disbursed directly to the rightful owners without any further delay.
Request for Modification of Revocation Order:
We request that the Revocation Order be amended to include a specific clause mandating New Seataoo Corporation to disburse all funds held in their accounts to the affected sellers. The funds must be transferred directly to the sellers' bank accounts or designated financial institutions. The amendment should ensure that New Seataoo Corporation is not given control over these funds and that the process is overseen by the SEC to guarantee transparency and fairness.
Role of Banking Institutions:
We also call upon the SEC to instruct all banking institutions holding funds associated with Seataoo to fully cooperate in the disbursement process. The banks must ensure that all funds are directly credited to the sellers' accounts without any interference or delay by New Seataoo Corporation. This measure will provide a layer of security and prevent any attempts by Seataoo to access or withhold these funds.
Legal and Technical Oversight:
We believe that all legal and technical matters related to this process should be handled by the SEC in collaboration with New Seataoo Corporation. The sellers, who are the rightful owners of the funds, should not be burdened with the complexities of legal disputes or conflicts between the SEC and Seataoo. Our primary concern is the prompt and efficient return of our funds, and we trust that the SEC will act in our best interest to facilitate this.
Conclusion:
The sellers and account holders affected by the abrupt halt in Seataoo's operations are in urgent need of the funds owed to them. We implore the SEC to take immediate action to modify the Revocation Order, ensuring that the disbursement process is handled transparently, efficiently, and without any further hardship to the affected parties.
We thank the SEC for its attention to this matter and trust that the necessary steps will be taken to protect the interests of the sellers and account holders.
Please READ and COMMENT on this link.
Respectfully submitted,
Vincent Torre Bongolan
718
Supporter Voices
Petition Updates
Share this petition
Petition created on August 16, 2024