340 gone! Performance shop shut down! Help!

-
jd340 said:
I wouldn't hold out too much hope on the money,
Click to expand...

Neither would I but if you move fast, and BECAUSE they already lied to you and the state agency, you might be able to recover some of their shop property to offset your money investment. I would not wait.................this stuff is going to disappear quickly, and once it's into bankruptcy, it's all tied up, and you are likely not even to be on the "long list."
 
call the pokey and meet him down there so you can see the lady squirm before both of you as she explains both stories at once. "Lucy, you got some 'splaining to do!" glad to hear the motor was recovered.
 
Definatly call 26 24 or and 47 these guys
love these stories on the air and may get
farther than you could digging around on
your own!
 
I'm glad you got the engine back; it's horrible how much they're lying; I hope you can get your money back too. At least the engine is there though cause it would be irreplaceable. Good luck!
 
Thanks Andy! I will keep you all posted on the build on the resto forum and getting the money back. Unfortunately, I am on hold till then as I cannot afford to buy internals AGAIN! Right now I am trying to regroup and re-plot the 340 build and find a good machinist. It is looking like I am doing a totally different build plan now for around the same price range. Should be an awesome motor. I am already planning on not getting the money back as a worst case scenario so I just need to save up and push forward. If I get it back, then that is even better! I will leave that in the hands of the investigators. More to follow as I get info. Thanks again everyone for the awesome support around here!

Captain Canuck said:
This is GREAT news!! Now..... let one of the greatest builds on FABO continue!! :cheers:
Click to expand...
 
67cudafb said:
Wow what a strange turn this has taken. I thought this was about ways to help this guy get his engine back. I don't get how quick this stuff runs off the rails. I am really beginning to see why more long time members are staying away. What a bunch of jerks you guys are!
Click to expand...

Yes, it has gotten to a facebook type deal; that's why I don't spend much time in here, anymore.
 
Hey glad you got your engine back. I think it will be tough to recover money from the scum bags. I hope you do and find a trust worthy machine shop to do the job. Keep us posted.
 
Like I said in the new build thread, great news on getting most of your parts back. Good luck on the moolah.

Those SB strokers sure do run good... just sayin.
 
Ok guys, almost a final update here and closure on this as I don't think it will go any further. The CALBAR investigator called me today and told me the company is shut down. He spoke with the owner and he will be opening up the shop tomorrow for all the customers to come in and get their cars, blocks and whatever else is theirs. The owner told the investigator that I have a box of parts there but he did not see my flywheel. He told me I am more than welcome to look around for it and take it if I see it so that is the plan there. As far as the money goes, the owner told him that they will not be issuing refunds as they have no funds. I asked about small claims court and he told me I could go that route and he even said I would win with all the documentation I have, however, if they are claiming bankrupt, I will get nothing. Looks like I am taking it in the shorts as far as the money goes. I am really hoping that this "box of parts" that he has for me is all my new internals that I paid for considering that I got everything back already except my windage tray, flywheel and misc hardware. We will see and I will update one last time tomorrow so you all have closure. More to follow...
 
smartken22 said:
Ok guys, almost a final update here and closure on this as I don't think it will go any further. The CALBAR investigator called me today and told me the company is shut down. He spoke with the owner and he will be opening up the shop tomorrow for all the customers to come in and get their cars, blocks and whatever else is theirs. The owner told the investigator that I have a box of parts there but he did not see my flywheel. He told me I am more than welcome to look around for it and take it if I see it so that is the plan there. As far as the money goes, the owner told him that they will not be issuing refunds as they have no funds. I asked about small claims court and he told me I could go that route and he even said I would win with all the documentation I have, however, if they are claiming bankrupt, I will get nothing. Looks like I am taking it in the shorts as far as the money goes. I am really hoping that this "box of parts" that he has for me is all my new internals that I paid for considering that I got everything back already except my windage tray, flywheel and misc hardware. We will see and I will update one last time tomorrow so you all have closure. More to follow...
Click to expand...
glad you got most of your stuff back,you got lucky.
 
Here is an update. I went to the shop today and things went better then planned. There were over ten tow trucks there, CALBAR, the police, the news stations were there as they finally opened their doors to let people get their stuff. The owner was really helping everyone out. He did not have any new parts for me, however, he let me go shopping on the store side and told me to take any parts that equal what he owed me. I walked out with all sorts of new parts today, unfortunately they are not for my motor except a new air gap intake that I already have. I have a few mopar items and I will post them on the for sale forum to recoup some money. So far all these parts totaled up to $1800 retail. I know I wont get all that, but it helps! So far what I have for the mopar side a 7576 Air gap intake, fuel pump eccentric, big block MSD wires (missing one wire) and some new lifters and pushrods from Comp Cams. Here is a link from the news reel from today! The owner told me he will give me whatever I want from the shop to even up on what he owes me so this is good news! I will more than likely eat the labor though. Now I have the hassle of having to sell it all. Worth it in the end though!

http://abclocal.go.com/kfsn/story?section=news/business&id=9167705
 
For as bad as your situation was. I think your coming out of it fairly well. I'm really surprised at what you did wind up with.
 
Hmm,
You got to pick over what was there... so you don't sue.
Somebody paid for the parts.
How would you feel if your block and engine parts were just gave to somebody so they would not take the guy to court??????????
I am glad you got something back, but I would have taken it to court, and had his wages, home etc garnished.
 
No entirely true here. These parts were brand new off the shelf. He had a speed shop store as well as a machine shop. He said those parts were all his and not other customers. I ensured that before I agreed to go that route.

sireland67 said:
Hmm,
You got to pick over what was there... so you don't sue.
Somebody paid for the parts.
How would you feel if your block and engine parts were just gave to somebody so they would not take the guy to court??????????
I am glad you got something back, but I would have taken it to court, and had his wages, home etc garnished.
Click to expand...
 
The reason that I did not take him to court (and I tried) was because they are claiming bankruptcy. Courts said they cannot garnish wages and touch home assets since the company was LLC. Not sure what LLC means.
 
llc = limited liability company.

brief version...

better than a sole proprietorship for tax purposes... also (as in this case) protection for the business owner/s of their personal assets when they fail.
 
You are very lucky you were able to do this. In many bankruptcy proceedings, everything gets tied up and there's normally huge list of "big name" creditors that are way ahead of the "little guys" in line.
 
Nice that you recovered some of what you are out. I'd have been grabbing anything to sell and cover the amount I was out.

Good luck with the new build...
 
You must log in or register to reply here.
-

Back
Top