One of the 12 channels in the MCT package on Hotbird stopped broadcasting about 2 weeks ago - UltraPlus apparently had no rights to show any of the movies, they just had 6000 dvd's they'd acquired. They operated from Monaco and have now disappeared without trace.
Treating Europe as on market is great for rip-off criminals because it takes law enforcement so long to catch up when you're registered in one country, uplink from another and have offices in a 3rd ... this has happened with other channels and nobody is ever caught.
The advantage of them is they actually do provide the consumer with a lot of decent movies at a low cost - and they'll be back in another guise soon. In fact it's probably the same people who've been and gone several times already.