Orange County Choppers
Jan 29, 2016 12:30:23 #
Turning a gold mine into a worthless building. I just received this from a friend. If you head south on the NY Thruway, I-87, look left after the Newburgh interchange, and you can see their huge building. It looks like the son is still in business. He was smart to get out when he did.
http://pauljrdesigns.com/
Headquarters to be auctioned off
A bankruptcy trustee representing a subsidiary of Orange County Choppers is suing the parent company and its owner, Paul Teutul Sr., to recover money he says was fraudulently transferred from the subsidiary at the behest of and for the benefit of the defendants.
The suit seeks the return of the money to pay the subsidiarys creditors.
The facts of the case go back to the mid-2000s, when the debtor, formerly called Orange County Choppers Merchandising and now called Hudson Valley Merchandising, licensed trademarks, copyrights, logos and likenesses of Orange County Choppers to various companies for merchandising items such as T-shirts, hats, party goods, cake decorations and other consumer products.
At the time, the lawsuit says, Orange County Choppers, the Town of Newburgh-based builder of custom chopper-type motorcycles, owned 20 separate Choppers-styled entities.
In 2006, Orange County Choppers filed a lawsuit against Olaes Enterprises, or ODM, a company it did business with, claiming it breached consumer product license agreements.
ODM filed a counterclaim against Orange County Choppers, Orange County Choppers Merchandising, and various Choppers licensees, charging them with infringing on ODMs copyright. Two years later, several other companies joined ODMs lawsuit against Orange County Choppers.
In 2009, the U.S. District Court for the Southern District of New York settled all claims between ODM and the Choppers entities.
But in 2011, the same court ruled against the debtor and in favor of six of the counter-claimants. It also ordered Choppers to pay for their legal fees.
However, the lawsuit alleges that between 2009 and 2010, when the company was battling claims of copyright infringement in court, it transferred more than $1,453,200 to Orange County Choppers in 44 separate payments.
In January 2013, Orange County Choppers Merchandising filed for Chapter 7 bankruptcy, effectively agreeing to the sale of its assets to pay its many creditors.
But by then, the debtor was insolvent and unable to pay its debts. Those debts remain unpaid to this day, according to the lawsuit.
The lawsuit holds Teutul responsible for the transfers, saying he had sole control of Orange County Choppers and its affiliates, including the debtor, which shared offices and employees with its parent company in Newburgh.
It alleges that between Jan. 2009 and Dec. 2010, Teutul received about $1.4 million from Orange County Choppers. It also alleges that Teutul caused these transfers to be made.
A spokeswoman for Orange County Choppers declined to comment on the lawsuit and said Paul Teutul Sr. was not available to talk about the case.
The trustee, Thomas Genova, is seeking the return of the $1.4 million plus interest, attorney fees
http://pauljrdesigns.com/
Headquarters to be auctioned off
A bankruptcy trustee representing a subsidiary of Orange County Choppers is suing the parent company and its owner, Paul Teutul Sr., to recover money he says was fraudulently transferred from the subsidiary at the behest of and for the benefit of the defendants.
The suit seeks the return of the money to pay the subsidiarys creditors.
The facts of the case go back to the mid-2000s, when the debtor, formerly called Orange County Choppers Merchandising and now called Hudson Valley Merchandising, licensed trademarks, copyrights, logos and likenesses of Orange County Choppers to various companies for merchandising items such as T-shirts, hats, party goods, cake decorations and other consumer products.
At the time, the lawsuit says, Orange County Choppers, the Town of Newburgh-based builder of custom chopper-type motorcycles, owned 20 separate Choppers-styled entities.
In 2006, Orange County Choppers filed a lawsuit against Olaes Enterprises, or ODM, a company it did business with, claiming it breached consumer product license agreements.
ODM filed a counterclaim against Orange County Choppers, Orange County Choppers Merchandising, and various Choppers licensees, charging them with infringing on ODMs copyright. Two years later, several other companies joined ODMs lawsuit against Orange County Choppers.
In 2009, the U.S. District Court for the Southern District of New York settled all claims between ODM and the Choppers entities.
But in 2011, the same court ruled against the debtor and in favor of six of the counter-claimants. It also ordered Choppers to pay for their legal fees.
However, the lawsuit alleges that between 2009 and 2010, when the company was battling claims of copyright infringement in court, it transferred more than $1,453,200 to Orange County Choppers in 44 separate payments.
In January 2013, Orange County Choppers Merchandising filed for Chapter 7 bankruptcy, effectively agreeing to the sale of its assets to pay its many creditors.
But by then, the debtor was insolvent and unable to pay its debts. Those debts remain unpaid to this day, according to the lawsuit.
The lawsuit holds Teutul responsible for the transfers, saying he had sole control of Orange County Choppers and its affiliates, including the debtor, which shared offices and employees with its parent company in Newburgh.
It alleges that between Jan. 2009 and Dec. 2010, Teutul received about $1.4 million from Orange County Choppers. It also alleges that Teutul caused these transfers to be made.
A spokeswoman for Orange County Choppers declined to comment on the lawsuit and said Paul Teutul Sr. was not available to talk about the case.
The trustee, Thomas Genova, is seeking the return of the $1.4 million plus interest, attorney fees
Jan 29, 2016 13:23:47 #
I loved this show. The designs were fantastic and I think most of the credit should go to JR.
Jan 29, 2016 15:02:35 #
Jan 30, 2016 09:37:16 #
Jan 30, 2016 12:42:20 #
That's very sad to hear. Some really talented staff worked there. I wonder if any will be taken on by Jr.
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