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 Post subject: Smart Parts files for Chapter 7 Bankruptcy.
PostPosted: Wed Jul 28, 2010 11:37 pm 
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Interesting bit of trivia. The average bankruptcy in America takes 6 years to complete. Trust me, its a long time.

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 Post subject: Re: Smart Parts files for Chapter 7 Bankruptcy.
PostPosted: Wed Jul 28, 2010 11:46 pm 
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Will this mean GI Milsim will get all the old sp bodies to make their .50 stuff? Is there a list some place as to who SP owes money to?

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 Post subject: Re: Smart Parts files for Chapter 7 Bankruptcy.
PostPosted: Thu Jul 29, 2010 12:00 am 
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The list will be published soon. The key to all the information with be the bankruptcy trustee. He will oversee every detail of it.

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 Post subject: Re: Smart Parts files for Chapter 7 Bankruptcy.
PostPosted: Fri Jul 30, 2010 5:03 pm 
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chapter 7 is complete liquidation right?


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 Post subject: Re: Smart Parts files for Chapter 7 Bankruptcy.
PostPosted: Fri Jul 30, 2010 7:39 pm 
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Heard some *RUMORS* that Kee is setting themselves up for some good ol' SP patents for a rainy day.

Could get interesting.

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 Post subject: Re: Smart Parts files for Chapter 7 Bankruptcy.
PostPosted: Sat Jul 31, 2010 12:47 am 
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i thought kee would probably just swallow it whole...but i guess they just want the tastiest.


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 Post subject: Re: Smart Parts files for Chapter 7 Bankruptcy.
PostPosted: Sat Jul 31, 2010 11:14 pm 
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Chapter 7 is liquidation. The bankruptcy court seizes all assets and sells them off. I've heard rumors of an auction taking place this week. If you are interested you can dig around and find all of the details on the internet. Bankruptcies are very public processes. Things like Dynasty Paintball Club being owed $93,000 , client list, $21,000 phone bills, and the Bank of New York getting stiffed for $ 1,709,000 are all just a few clicks away.

The lawyers get paid first. Then come the bankers. Everybody else gets to cool their jets for a few years.

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 Post subject: Re: Smart Parts files for Chapter 7 Bankruptcy.
PostPosted: Sun Aug 01, 2010 9:03 am 
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Holy crap! What the hades were they doing?!?

Sounds like they need to go to work for someone else, cause running a business they dont sound to good at.

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 Post subject: Re: Smart Parts files for Chapter 7 Bankruptcy.
PostPosted: Sun Aug 01, 2010 11:40 am 
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What? No Obama cash for SP? Too bad. :)

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 Post subject: Re: Smart Parts files for Chapter 7 Bankruptcy.
PostPosted: Thu Aug 05, 2010 11:12 pm 
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Windwalker wrote:
What? No Obama cash for SP? Too bad. :)


No.......but I did get a piece of mail from the Department of Commerce (Federal Trade Commission or somebody, can't remember because I threw it away) requesting I fill out a multi-page questionnaire because Smart Parts had filed for some government grant to help offset the cost of competing against cheap foreign imports. Now why you need protection from foreign imports when you have the protection of the United States Patent Office is beyond me. But I'm just a dumb South Carolina redneck. 8)

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