..in 2002 AC in the form of the AC Car Group Ltd (one of SEVERAL corporate entities that Lubinsky uses for AC) entered into a Company Volantary Agreement (CVA) a UK procedure for avoiding receivership. This "agreement" spells out the amount creditors will receive over a specified period while allowing the company to continue. The details of this were posted on the UK Court Service website listiing all the creditors. Mr. Price is on the list.......as is Mr. Lubinsky who was owed money for his licensing the AC brand to the AC Car Group!
Most of the debt was owed to trade suppliers, the Inland Revenue (UK IRS) wages and local Rates (property tax), etc.
When the corporate trail is unravelled, AC is actually a US Delaware registered corporation. The AC Car Group Ltd did not own any of the trade dress, traemarks or rights. It was also claimed that the tooling was worth less than $5000.00 as I recall. The claim was that it is only valuable if one wants to build a Cobra! Obviously some of the assets were valued a little low....
And Lubinsky now has the new AC corporation registered in Australia! This is where he is orginizing the "rebirth" of AC from!
But hey, just another example of how Mr. Lubinsky does business.
Rick