I call shenanigans! This is utter bunk. We *know* that they still have assets (the paint facility, the S7 and Raptor "names"). We know that they "sold" much of their assets, including a large inventory of parts - and must have received something for that (or else they gave away the assets, which is unfair to existing creditors).
A company cannot just "cease to exist" when it has outstanding debts. And we warranty holders are creditors, whether they like it or not. We are entitled to a share of the liquidated estate - and it is not for them to decide what our share is, it is for a bankruptcy court.
I am currently scouting for a lawyer to represent us as a class. There may be nothing for us to gain, but I am P***ed off at the way they have done this. The main question I want answered is "what happened to the money from the sale of assets", and I expect the only way we will get such an answer is in court.
email me if you are interested in participating in such a legal action,
saleenwarranty@christann.com
Chris.
Quote:
Originally Posted by Light02atl
I just got off the phone with the law firm representing Saleen Inc.
I quote witton @ 1430 3-9-09 "Saleen is no longer. There is no more company at all. They have ceased all operations. Saleen has absolutely no money and they cannot honor any warranties."
I mentioned that, we had purchased a warranty when we bought a vehicle. I asked how a company can sell off all of their assets and then close up shop without reimbursing people what they are owed. "There is no more company, and there is no money to give."
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