Ch. 7 Bankruptcy Filed 9/6/18

When you see something like this, a lot of the traffic comes from crawlers (Google and the like). So while a few are real people, most are machines.

 

You are 100% correct!
If people want to be heard, then the acceptable method is sending a letter to the judge. Your letter will be read and become part of the case file. Inundating the court with telephone calls will not be in your best interest! Take the time to write a letter.

 

True, so there maybe an out for the company yet.

 

And there is the crux of the situation. Every vendor is getting piled on when the writing was on the wall. Long lead times are one thing. A year wait is basically equivalent to just never delivering the order. Don't mistake, I'm not blaming customers, but the rope was long for Pelfreybilt. Most of the other vendors here would have been torched if we made a customer wait 1 year for their order, but somehow they alluded the court of TW until now.

 

Nothing to do with California. It is the United States Federal Court.

 

Off-topic Anyone every buy anything off of massdrop here?

 

Dude. A little naive are we? Someone else's pain does not take away the pain from those who were scammed.

Plus if it is true that they have filed for bankruptcy a few times then they likely did what many pros do before filing which is somehow secure their personal financial survival.

 

Pain from a bumper? Please. If people experience pain because they aren’t getting skids or a bumper they have other problems.

Material loss on luxuries is hardly pain.

The situation sucks but no need to blow it out of proportion.

 

Now that I am back from a brief vacation...


DO NOT, DO NOT, DO NOT CONTACT THE JUDGE!!!!

I can’t say that strongly enough. You are just going to piss off someone with a lot of power and if it comes across as harassing a federal judge, some very stern people with guns will come talk to you. This is just getting started and things need to be handled methodically and the more organized we are, the better. Their original filing was incomplete and they have until September 20th to provide the court various schedules detailing their financial affairs, assets and liabilities and real and personal property. Once they have done that, we will get he first detailed look at things.

The POC for all inquiries in this matter is the court appointed Trustee. There is currently a temporary trustee appointed who I will be contacting tomorrow with a few questions regarding them claiming the company’s debts as personal debts, as well as them having taken advance payments from customers within the 70-day window that allows cash advances to be deemed non-dischargeable, and taking orders and money after they had already begun the process of preparing to file, and to make him aware of who on earth we all are.

Since I’m too lazy to write my own explanation of what the trustee does I have copied and pasted from awebsite. This person is our ally, but you have to realize that they have no idea who these people are, what they have done or who we are. Hundreds of phone calls and e-mails aren’t going to help bring clarity to the matter that just landed on their desk, and will probably seem like a bunch of crazy people screaming at them.

The Trustee in Chapter 7 Bankruptcy Cases

The duties and powers of trustees in both chapters are similar in some ways, and many of the distinctions come down to the difference between each type of bankruptcy. Here are some of the primary duties and powers of a trustee in a Chapter 7 liquidation bankruptcy case:

1. The trustee is in charge of rounding up all of a debtor's property;
2. The trustee is in charge of selling the bankruptcy estate's property;
3. The trustee is in charge of challenging creditors' claims, where appropriate;
4. The trustee is in charge of distributing proceeds to creditors;
5. The trustee is in charge of objecting to a bankruptcy discharge where grounds exist

The best route for us at this point is likely to try and get all the aggrieved customers to pool some funds and hire an attorney to represent our collective interests in the bankruptcy court.

 

Guys.. please.

Sucks for everybody, both losses are measurable. This is here for the masses, not for the pair.

Nobody has to pick a side with who to feel sorry for, let’s just provide info for those that were left without any - the customers.

 

Welcome back.

 

The part that I am still trying to figure out is the customers paid the corporation, and they are filing for personal chapter 7. So I guess that is due to the fact they personally guaranteed loans to the business, but the customers did not make the deal with them. So technically the business is still on the hook to the customers until they file a bankruptcy for the corporation.

The only reason I can think they listed the customers in their personal bankruptcy is to prevent the customers from suing them personally for the amounts owed. No matter what they are doing, they mis manged the business and took it way to far. They should also not lose their home or cars, as the court normally wont take their primary mode of transport and home.

 

Exactly.

 

If I can’t afford to throw $3000 away then I don’t buy a bumper...

There is no ROI so you are basically throwing it away.

 

The bankruptcy laws, even the revised ones, are incredibly flawed. Like I’ve stated before, you generally see the same people over and over in bankruptcy court.

 

Holy smokes man. Are you kidding me? Pain from a bumper? Of course not. Pain from saving their pennies paycheck after paycheck just to be scammed. Even if a Cc is used the possibility of owing thousands for a product you won't get will cause pain.

Are you one of those rich youtubers (nothing against the rich) blowing up their Ferraris or something? For most of us $=time and effort.

 

If I give a company money for a material product for ANY amount. I’m basically throwing it away.

If you are that tight on money you should be investing instead of spending.

 

*Boop* fixed.

 

I'm guessing what got the company was lifestyle creep. I worked for a company where this happened with the owners. I was only 18 at the time, but was smart enough to quit before it blew up. Sure as shit barely a year later it blew up and the biggest winners were the lawyers.

The nutty part is a ten months after I quit I was offered all the inventory for pennies on the dollar. There was tens of thousands of dollars worth of new inventory. I had the cash to make it happen, but sensed something stunk and didn't do it. The one owner sold it to someone else and it turned into a cluster fuck of lawsuits.

 

San diego not very far from mexico just saying.