Puzzled
Well-known member
Tuesday, 14 July 2015
Erik Buell Racing
EBR asset auction slated for July 21st
Following its closure and entry into receivership, the legal process that Erik Buell Racing is now subject to is set to take a decisive turn shortly - its assets are scheduled for auction on July 21st.
Unveiled in 2014, the 1190SX 'Superfighter' as EBR were terming it demonstrated the flexibility of the 1190 platform and the direction that EBR wanted to take.
Court approval of "winning bids" for all or parts of the assets is then expected to follow quickly. The sale is being described as being for EBR as a "going concern" rather than for individual items, with motorcycles, parts and accessories, machinery and intellectual property and rights being sold as a complete lot.
This means that it is possible that the company could emerge from the process as a trading entity under new ownership. However, if there are no takers for the whole lot, the individual assets will be sold on their own.
On their Facebook page EBR has said that "the assets have to be broken into segments, by law, but it is a going concern auction and a number of bidders are coming with the intention to buy all the lots necessary to move the company forward again. The outcome is, of course, unknown, but it actually looks very good to us."
Posted by DealerWorld at 03:42
Erik Buell Racing
EBR asset auction slated for July 21st
Following its closure and entry into receivership, the legal process that Erik Buell Racing is now subject to is set to take a decisive turn shortly - its assets are scheduled for auction on July 21st.
Unveiled in 2014, the 1190SX 'Superfighter' as EBR were terming it demonstrated the flexibility of the 1190 platform and the direction that EBR wanted to take.
Court approval of "winning bids" for all or parts of the assets is then expected to follow quickly. The sale is being described as being for EBR as a "going concern" rather than for individual items, with motorcycles, parts and accessories, machinery and intellectual property and rights being sold as a complete lot.
This means that it is possible that the company could emerge from the process as a trading entity under new ownership. However, if there are no takers for the whole lot, the individual assets will be sold on their own.
On their Facebook page EBR has said that "the assets have to be broken into segments, by law, but it is a going concern auction and a number of bidders are coming with the intention to buy all the lots necessary to move the company forward again. The outcome is, of course, unknown, but it actually looks very good to us."
Posted by DealerWorld at 03:42
