| Author | Message | ||
     Court |
I don't think anybody, at any point in this deal, has sufficient reason to call anybody any names… Much less a "liar". There are a lot of good people… All sincerely trying to do their level best. Although there seems to be an inordinate amount of tripping over each other, a lot of that is simply due to the complexity of the legal process. Here's hoping the legal portion of this saga quickly comes to a close somebody gets on with the business of building motorcycles. I'm eagerly waiting. (Message edited by Court on January 13, 2016) | ||
| Hybridmomentspass |
But Court, your comment, as well as various news sources, state that there was a single bidder, correct? And did BB not say that he had a bid in that was beaten at the end? Im just asking for clarification | ||
| Lake_bueller |
It's not inconceivable that BB went to submit a bid and was told that his wasn't high enough. Hence the only having a single bidder last time around. | ||
| Tibman260 |
Sold to liquidator again. http://www.jsonline.com/business/erik-buell-racing -manufacturing-assets-sold-at-third-auction-b99651 291z1-365207811.html | ||
| Hughlysses |
As suggested before, this apparently isn't an auction in the conventional sense. Bruce said he had the high bid up until the day before the auction. Dan said the receiver's office told him the minimum bid that would be considered was ~$3M. The actual winning bid was only $1.6M. I'm guessing some of these "bids" were actually "intentions to bid". The "intentions to bid" that were stated before the date of the auction were not considered as "bids" by the court. The liquidator's actual bid on the day of the auction was the "single bid" that was mentioned by the court. Since neither Bruce nor the other outfit could come up with more than $1.6M on the day of the auction, no other bids were submitted. That' my guess at how things went down. | ||
| Froggy |
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| Tibman260 |
What I don't get is the fact Bruce originally "put up" 2.25 million. The second auction went for 1.6 and the third now 2. It's reasonable to assume that anyone who wanted to buy the company was going to have to expect to put millions into the company to make it work. So Bruce, expecting to put that much money on the line won't throw up his original bid? Sounds like someone is full of crap. | ||
| Noone1569 |
https://m.facebook.com/groups/289943317829883?view =permalink&id=570841289740083 At today's auction, where 3 bidders participated, AMG and our finance partner, Tiger Capital Group, matched the top bid by Liquid Asset Partners at $2.05 million. The decision as to who wins, and whether EBR lives or is liquidated, now rests with the Court. See you there, bright and early. Never Quit. -Bruce Belfer | ||
| Rsh |
Sold again: Same liquidator for more money. Judge to review for approval this Thursday. | ||
| Bruce_belfer |
At today's auction, where 3 bidders participated, AMG and our finance partner, Tiger Capital Group, matched the top bid by Liquid Asset Partners at $2.05 million. The decision as to who wins, and whether EBR lives or is liquidated, now rests with the Court. See you there, bright and early. Never Quit. Bruce | ||
| D_adams |
I think the reason for the lesser bid was due to removed IP by *z*hero. With part of the assets removed, it wasn't worth the original amount. That's what screwed it up the first time. 2nd time was lack of time for due diligence. I *assume* the judge tossed out the 2nd bid win based on the outcry from far and wide. 3rd time, Bruce says they matched LAP's bid of $2.05 million. Guess we'll find out tomorrow. | ||
| Lake_bueller |
So it looks like Tiger Capital is an investment AND liquidator group. Interesting development. I guess we'll know the fate of Erik Buell and his vision tomorrow. | ||
| Hughlysses |
Sounds like JS Online jumped the gun with that article. | ||
| Thumper1203 |
AMG and our finance partner, Tiger Capital Group, matched the top bid by Liquid Asset Partners at $2.05 million Bam! ohh, the suspense.. | ||
| Hybridmomentspass |
" Sounds like someone is full of crap." Who do you think is full of crap? | ||
| Wolfridgerider |
I remember when......  | ||
| Buelliedan |
This will go down as the most convoluted sale I have ever seen. | ||
| Hughlysses |
Even if Liquid Assets is awarded the stuff, we'll have weeks more of speculation about what THEY do with it!  Hopefully Judge awards to Bruce. Same up front money as liquidator, but added benefit of jobs, taxes, etc. | ||
| Dmhines |
I have never heard of an auction ending in a tie. Crazy. | ||
| Bruce_belfer |
 | ||
| Lake_bueller |
Bruce...was there a set amount to overbid and satisfy the auction terms (i.e. $2,050,001)? | ||
| Theshinenz |
I don't get it, why not just bid more... in Dana Whites words... "Never leave it in the hands of the judges" lol Guess theres a strategy behind this, but I thought Never Quit would mean do what you have to to WIN the auction no let the Court decide who wins.... anyway will see tommorrow I guess... | ||
| Hughlysses |
Bruce must be somewhat of a gambler to bid on EBR at all. I'd guess somebody advised him this is a smart strategy. | ||
| Steveford |
Maybe this is a plot to drive the judge slowly insane. | ||
| Malott442 |
Or all of us.... | ||
| Sagehawk |
Best wishes tomorrow Bruce! | ||
| Rsh |
Courts are usually sticklers when it comes to following rules or in this case auction terms. Good luck Bruce, hope it goes your way. | ||
| Office_buelly |
Personally I don't care anymore. My 1125R has been gone for a little while. I postponed buying a bike for a year hoping EBR would've made their way North to Canada but they never did. Ended up buying an 848evo and kept missing the feel of the Buell, would've still have bought the 1190rx if they recovered...Seeing how this has played out and the petty games involved by the only person apparently interested in keeping it going makes me wonder if this is really the person we'd want running the company. $2M is chump change these days, there are numerous forum members with more then that kicking around, myself included. We just have no interest in investing in something we don't know inside out. I think the more telling part is that at such a low entry point that no other manufacuter bothered to kick the tires. That money is absolutely nothing to the likes of Polaris/Bombardier etc. This set off alarms bells to me. Just went out and bought myself a Thruxton R to bide time until someone somewhere builds me a bike like the one I loved so much. | ||
| Ducbsa |
I wonder what will happen the reported large # of spare parts in the warehouse that we have heard about on these pages? | ||
| Jaimec |
So is that it then? Has the "Fat Lady" sung her song?  Looks like my next American-made sporting standard will be a Zero after all. |
