Chapter 11 enables them to use the money they have to try to pull themselves out of bankruptcy. It is usually run through a trustee who is supposed to approve all spenditures. It will benefit the creditors IF they are able to pull out. You can believe if they go chapter 7, all the creditors will be screwed. It's kind of like your money is already on the table and you are best off to let it ride, because you'd most likely get zip right now.

That being said, twice companies that owed me money went chapter 11 just to give them more time to hide assets and such, then went chapter 7. Oh yeah, the trustee thing is a joke too.

Hey, I know Gar. He used to work for me, too. He's at McDonald's now?

Bosco...

I purchased a Powrplay from you and Dan a few years ago....was very pleased with the boat and enjoyed working with both of you. Gotta tell you, since you left Powerplay I've been very disappointed in your continually blasting Dan. Whatever gripes or issues you may have are between you guys. It serves no useful purpose to bad mouth him especially since we have no way of knowing where the truth really is. I'm sure you could have gotten your "questions" answered by someone locally rather than using this forum.....that was your purpose wasn't it....or.....as I suspect, you were just trying to put private issues in the public eye. I thought you were better person than that.

Skip

Get one of the lawyer's input on this board, I know there is one on this board that knows bankruptcy and secured transactions. If you are doing business with a company in chapter 11, file , file, file (Article 9 UCC), for creditors. Consumer's ???

I just love it when there is a whirling cauldron of ****! And whomever dips their paddle in and stirs, inevitably gets the **** splashed on themselves! Like Sgt Shultz said: I know nothing! NOTHING!

ask em at the show

Aggravation 28 I totally agree with you. It's like a bunch of old ladies in a hair shop!!

Gentleman, I do beg to differ on opinion and expertise, I would hope that after $85,000+ of law school education I might be able to pass the bar exam, and know a little, not a lot, just a little about Chap. 7, 11, 13, and UCC 2, and 9, not much, just a little, and provide some insight to this issue. I guess you are right I am sounding like an old bitty at a beauty shop- enough said! I know nothing is right!

its a shame that people that have left powerplay have
to always bash the company. the bottom line is dan
builds a great boat, he has a new partner now and is
digging his way out of a hole a lot of companies get
into. i have been selling offshore boats since 1985
i was one of the original cigarette dealers and have seen this before. danny will come through this and
frankly after the miami show there will be some
good marketing going on. i will be in the booth to
help him out. i like his boat and his prices when you
compare them to cig or outerlimits both apple to apple
boats