Navistar Buying Monaco ?

700 Monaco Coach shareholders are likely stuck holding an empty bag of shares of stock after the company terminated them and filed for bankruptcy in March. Everyone agrees the stock has become virtually worthless.

When there's a bankruptcy, shareholders often don't get anything because there is not enough money to pay the bills, let alone return anything to the shareholders, bankruptcy experts generally agree.

In its bankuptcy papers, Monaco said that as of Sept. 27 it had more assets than liabilities — $442.1 million in assets and $208.8 million in debt. However the company has not yet provided a complete, current list of assets and debts that explains how it arrived at those numbers.

For now, Illinois-based Navistar International Corp. is reported to have signed a "nonbinding letter of intent" to buy Monaco’s core RV assets for up to $50 million, if the sale is approved by the bankruptcy court. If so, it could be completed by late June, according to documents Monaco filed with the U.S. Bankruptcy Court.

There's still no word on warranty rights under the proposed sale, but you can bet that the big corporations aren't about to let those survive the bankruptcy filing in all probability because of the high risk and expense that would be carried over. Maybe, but maybe not.

Burdge Law Office
Because life's too short to put up with a bad rv.

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Known nationwide as a leading Lemon Law attorney, Ronald L. Burdge has represented literally thousands of consumers in "lemon" lawsuits and actively co-counsels and coaches other Consumer Law attorneys. From 2005 through 2011, attorney Ronald L. Burdge has been named as the only Lemon Law Ohio Super Lawyer by Law and Politics magazine and Thomson Reuters Corp., Professional Division. Burdge restricts his practice to Lemon Law and Consumer Law cases. The Ohio Super Lawyer results are published annually in the January issue of Cincinnati Magazine. Ronald L. Burdge was named Consumer Law Trial Lawyer of the Year 2004 by the National Association of Consumer Advocates, the nation's largest organization of consumer law private and government attorneys. "Your impact on the auto industry has been magnified many times over because of the trail you blazed for others," stated NACA's Executive Director, Will Ogburn. Burdge has represented thousands of consumers in Ohio, Kentucky and elsewhere since 1978 and is a frequent lecturer to national, state and local Bar Associations and Judicial organizations. Burdge is admitted to Ohio's state and federal courts, Kentucky's state courts, and Indiana's federal courts. Other court admissions are on a "pro hac" temporary, case by cases basis.