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Reply to "VS Arizona Bankruptcy? - Big Rumors Floating Around Today"

To Troy Sloan's comment, thanks for that background. But to clarify, in a legal sense the original sale to Justin was an asset sale as opposed to "buying the company". He did not purchase it as a going concern but  rather bought the assets and wiped the balance sheet clean. The key point would be what rights to trademarks and trade names they acquired. As an asset sale and a total restart of the operation with all new personnel, this is clearly not continuous operation of a going concern. And then the transition between Justin and Matt, my impression was that the business had failed, in which case it may have gone through a bankruptcy...again, not continuous operation. I'm not a lawyer but I believe their claims would legally be considered fraudulent

Thanks for that clarification Dave.  I was not aware it was just "an asset sale" and have been under the false impression that they were legally allowed to say they had built over 3,300 Speedsters.  That certainly does sound like fraud to me.

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