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Old 03-18-2011
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Jim D. Jim D. is offline
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Join Date: Oct 2004
Location: Huntington Beach, CA
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Just for clarification, Shelby did win LeMans, but it was in a GT40.


And for additional clarification, when Dave mentioned Saleen, Inc., he refers to the 2003-2009 company known as Saleen, Inc which was managed by Hancock Park Associates. In 2009, Saleen, Inc. changed its name to PEXT when MJ Acquisitions started using a new iteration of the brand name and called itself Saleen Performance Vehicles.

The former Saleen, Inc. (again, now known as PEXT and still managed by Hancock Park Associates) is being forced into Chapter 7 bankruptcy by its creditors. All transactions of the sale of any assets, including those infamous "certain assets" to MJ Acquisitions, are being scrutinized by the court-appointed Trustee as potentially fraudulent or preferential, according to federal court documents.

If you do the math, that's very likely a significant reason GPV, which absorbed MJ's Saleen Performance Vehicles operation, is phasing-out the Saleen name -- because the original sale (and purchase) of Saleen, Inc. assets (including the contested name) is heading towards being reversed and into the hands of the bankruptcy Trustee.

Since Steve really never sold his name to begin with, he'll be able to start using it again soon simply on the basis that another company won't be claiming it as theirs, and without any further dancing in court on that issue.

So stay tuned.
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