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Henry VI: "THE FIRST THING WE DO, LET'S KILL ALL THE LAWYERS."
:rolleyes: Larry |
Uh-huh, but ya love us when you need us...
I saw on the docket that there is a hearing set for this morning. If you're interested in reading the actual complaints and orders, here they are:
SEC Complaint: http://www.sec.gov/litigation/compla.../comp20925.pdf Order: http://www.sec.gov/litigation/compla...p20925-tro.pdf CFTC Complaint: http://www.cftc.gov/stellent/groups/...nt03042009.pdf Order: http://www.cftc.gov/stellent/groups/...er03042009.pdf |
I got a couple of questions....After reading some of this, it looks like, whoever this dirtbag paid the money too for Hurricane has to give it back. ($127K) Does this mean the original owner gets the company back or does it stay locked up in litigation?
Also I would imagine that this transaction took place with lawyers and contracts to make it legal. If the person buying the Co. pays you with the "ill gotten gains" from another scheme, how in the heck does the government expect you or your lawyer to know this prior to completing the sale ?????? And where does it leave you after the fact ???? |
Lmh
Larry,
Also a light hearted question: If a Cobra with Corvette susp. were to drive and handle better than one with a Jag, Mustang, or home made suspension, for example, would you still want those suspensions versus the Corvette in your Cobra? |
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Still, what a mess... |
Four Simple Rules
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1) There is never enough to go around, and the government cuts to the front of the line. 2) You litigate everything. If someone has assets then you try and suck them in, if all they have is a claim they've been screwed, then you try and freeze them out. 3) The squeakiest wheels tend to get the most grease. 4) Fines and legal fees will eat up a healthy portion of whatever is still there. |
As I've read this, and the filed cases, and understood it, Hurricane was bought and became an asset of White's. As such it is available too be sold as a means to fulfill the relief sought. The original Hurricane owners were not defrauded in that they received the agreed price in exchange for the physical and intellectual assets that collectively formed the original company. Now the process of the sale depends upon the case and its resolution and will have to follow the time line it will follow.
Doug |
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Larry |
Would 15" knock-offs fit using C5/C6 suspension/brake components? I doubt it. Unless you move up to 17's, then it wouldn't seem fitting (no pun intended). But if one was okay with the larger wheels, why wouldn't you want to benefit from one of the better "stock" suspension/brake configurations out there?
John, I wish you all the best with this venture. I have seen a Hurricane up close and, quite honestly, I was a bit appalled by some of the fit and finish (especially around the trunk area...big gaps). I'm confident that you have the skills to address these items and make for a more formidable car for Cobra enthusiasts. Your one-off car looks scary fast...I don't think I have the huevos to get into that. Maybe in another life. :LOL: -Dean |
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I don't know who's car you looked at but gaps like you describe are indicitive of the quality of bodywork, not the kit. If you look in my gallery you'll see the gaps on my car are small and perfectly equal. Jim |
Jim, I have no doubt that yours is spot on. But had I seen a Superformance for the first time with those gaps, I would have never bought one. First impressions are lasting in this hobby, too. I guess that's one of the perils of offering a kit vs a completed car...lack of consistency and your reputation lies squarely with the builder.
Now back on topic...great for the hobby to have Hurricane resurrected by someone that knows how to build cars. -Dean |
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You're right about the quality of the car lies with the builder. I've seen shortcomings in completed (Superformance & ERA) cars as well. That's why I chose to build one myself. Jim |
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http://www.clubcobra.com/photopost/d.../brand_new.jpg |
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And that has already had alot of work done to it. They don't look like that out of the mold. Jim |
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Here's a body fresh out of the mold at ERA at the time my chassis was finished. I presume it was mine, as my chassis was next up and this body was outside the fab shop.
http://images38.fotki.com/v1278/phot...1010060-vi.jpg |
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Dean, You are right in that you need to run at least 17 inch wheels with the C5/6 parts. I have 18 inch ones on one car, On the other it has 18 inch up front and 19inch in the rear. I would put the peformance of the Vette suspension in my chassis up against anyones. Maybe there is better but I don't think at the price of my cars or the use of stock parts.
I am doing research on the Hurricane situation right now. I am impressed with the quality of the frame and parts that are used. Especially at the price it was being sold for. I have complete confidence that I can produce a high quality kit. I would make changes that I deemed necessary. I am finishing the black/flamed car at this time and will begin to show it in April. I have made the final chassis jigs and am making the final body changes so that new molds can be made. The body is a little different then the black one. Here is a pic of the chassis that is under the Tbucket/Speedster. http://www.dragonmotorcars.com/images/C5TJohn.jpeg http://www.dragonmotorcars.com/images/C5Trearview.jpeg |
Good luck John. You seem to be the next logical owner. Hurricane needs some money to get dumped into an inventory so that you don't have to pay for the build out of the deposit. This became a real problem. If you have some inventory that can be shipped quickly you'll be successful. Since you already have a shop and employees that have been producing kits this should be a nice addition to your company. I wish you much success because I'm out of kits!!! Hope you win the bid.
Bonnie aka Exotic Re-Creations |
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