| Author | Message | |||
     Dualbuells |
I received "Notice of Receivership, Bar Date for Filing Claims, and Injunction" from State of Wisconsin. Did anybody else get one today? So whats the deal? | |||
| Hughlysses |
I'm guessing all the EBR 1190 owners will get one shortly. Any chance you could scan and post it? | |||
| Dualbuells |
I can scan tomorrow at work and post. | |||
| Meoff_69 |
oops i guess i should read post descriptions before starting a new post... I got a letter today i wonder if it is in regards to warranty? | |||
| Hughlysses |
^ I'm betting this is part of the receivership process, and they sent you the letter because you have an interest in the outcome of the receivership. The lawyer who's in charge has to determine all of EBR's liabilities which would include things like warranties and bills owed to suppliers. He also has to determine what the company is worth. If/when the company is sold, the proceeds (hopefully only a portion of the proceeds) have to be used to settle the liabilities. I'm guessing this would include some provision for supporting the warranties on EBR bikes or maybe cutting you each a check in lieu of providing a warranty? Who knows, if EBR is sold intact and remains in operation, the new owner might honor the warranties on existing motorcycles. (Message edited by Hughlysses on April 24, 2015) | |||
| Dualbuells |
Here is a scan. of the notice I received in the mail yesterday
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| Sprintst |
It's likely they will put a gag on sharing any information, especially once you agree to a settlement Don't ask me how I know, I can't talk about it In lieu of actual legal advice, I would submit a claim for the entire price you paid for the motorcycle You have no ability to estimate future warranty claims, hence it could be the entire price of the bike} (Message edited by sprintst on April 24, 2015) | |||
| Hughlysses |
Thanks for posting that, Tim. Interesting stuff. I wonder how potential buyers for the sale of EBR are solicited? Did Polaris and Hero get letters in the mail too? Has anybody checked the local craigslist listings?  (Message edited by Hughlysses on April 24, 2015) | |||
| Court |
Standard 90 day notice. Claims must be a sum certain....not "potential or hypothetical loss of value". This is simply a vehicle to "freeze" a point in time to assess the size of the dragon to be slain. (Message edited by Court on April 24, 2015) | |||
| Reepicheep |
So for example if one had ordered and paid for a $300 ECM, but not received it, they would put in a $300 claim? | |||
| Court |
Correct. It's a bilateral contract. You have delivered you $300 and have a legitimate claim in the amount of $300, | |||
| Classax |
Got mine this morning... Sum certain.. Anyone who owns one of the bikes has essentially lost the entire purchase price ( whatever that was) since part of the condition of purchase was a 24 month warranty (of which I have 13 months remaining.) The bikes basically have 0 value since they can not be serviced and there are no parts to support said service. There no fair way to depreciate the machines for mileage since they are in affect by virtue of the EBR closure all worth 0.00 | |||
| Court |
Quantify it, document it and submit it. What you are describing is k now as a "Diminished Value Claim. I don't disagree with everything you are saying but personal experience has shown me the chasm between what I believe and what I can document and prove. My sense is that there are some options, such as bonding the warrant, that will be explored to satisfy owners. I experienced some of this when taking over lots of "zero value" stuff from Buell when HD closed it down. I'd make you the same offer . . if you claim, with confidence, it is worth $0.00 . . there is no better way to "prove" your claim than to sell the bike to me at $0.00 and produce the documentation of the transaction to substantiate your claim. You can see why it gets a bit dicey. But, they can be resolved. The good news is that there are so few owners, none of the possible solutions are off the table. | |||
| 1313 |
The good news is that there are so few owners NICE jab!  One of these days I'll add value of substance to Badweb... 1313 | |||
| Reepicheep |
I hereby offer $5000 for any running 1190SX in reasonable condition with clear title. My offer expires in 15 days, and may or may not be renewed. | |||
| Dmhines |
FYI ... I talked to the Lawyer yesterday that sent the letter. I explained to them the issue with loss of warranty, diminished value, excessive depreciation, possible loss of use due to part availability, etc. They recommended that I document and submit my claim and let the judge decide. | |||
| Tpoppa |
Quantify it, document it and submit it. What you are describing is k now as a "Diminished Value Claim. I don't disagree with everything you are saying but personal experience has shown me the chasm between what I believe and what I can document and prove. My sense is that there are some options, such as bonding the warrant, that will be explored to satisfy owners. I experienced some of this when taking over lots of "zero value" stuff from Buell when HD closed it down. I'd make you the same offer . . if you claim, with confidence, it is worth $0.00 . . there is no better way to "prove" your claim than to sell the bike to me at $0.00 and produce the documentation of the transaction to substantiate your claim. You can see why it gets a bit dicey. But, they can be resolved. Court, if you are invested in EBR or otherwise involved (I assume you are), it's probably not a great idea to give advice on the value of claims against EBR. Just sayin' | |||
| Reepicheep |
His point was that if Classx really believed his bike was worth nothing, then Classx would be willing to sell it for nothing. I stand by my $5000 offer above for an 1190SX. So already right here, we established that an 1190SX is NOT worth $0, it is worth *at least* $5000. And given that I am pretty sure Classx won't sell me his bike for $5000, he clearly believes it is worth more than that. And I agree with him. | |||
| Hughlysses |
The question regarding the $300 ECM is a good one, as I've seen several posts from people who say they ordered one shortly before the closure. I'd imagine most if not all of them would rather have an EBR ECM than their $300 back. Hopefully the receiver will allow shipments of parts to be made at some point, if they're in stock. | |||
| Ace117 |
I ordered the left and right radiators and hardware the day after the shutdown. I received them today, picked them up from San Diego BMW about 1hr ago. I need the oil cooler and some other items for my project, i hope i am able to get them. | |||
| Theothers2t |
I got lucky... I needed a remap of my ECM for my new Barker's. I went there in person and they did it while I waited! Damn shame... EBR = Endlessly Being Reincarnated | |||
| Figorvonbuellingham |
Guess I'm SOL on my core deposit for the rotor? Man that was an expensive rotor. I wonder if its worth more now that they aren't making them.... | |||
| Hughlysses |
^ If you don't get a letter in the mail, I'd copy the letter above, include a copy of your receipt, shipping papers, whatever else, and send in a claim for your rotor deposit. | |||
| Panhead_dan |
Somebody needs to acquire the tuning software before it becomes un obtainium. | |||
| Noone1569 |
I'm currently in contact with a very respected WI attorney very familiar with WI 128 law. I'd recommend all owners to old off on sending the paperwork back until I get more info for you . . . . Can't say too much more at the moment. | |||
| Dmhines |
I'm interested in hearing what the lawyer has to say. Thanks. | |||
| Budgolf |
So am I. Not only am I out the 24 month warranty, but at the time of sale, I purchased a two year extended warranty from RPM through my dealer that is effective once my 24 months from EBR ends. Either way it's of course worthless without parts. | |||
| Noone1569 |
Any interested parties in knowing what the attorney advised me and other owners in doing, please email me. Noone1569 at gmail.com | |||
| Meoff_69 |
Email sent!!!! Thank you for the offer and diligence involved. | |||
| Ourdee |
Sent. | |||
| Dualbuells |
whats the verdict? |
