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You happy now?

Discussion in 'General' started by Dave K, Feb 8, 2019.

  1. fastfreddie

    fastfreddie Midnight Oil Garage

    It's there. All 143 pages.
     
  2. VFR#52

    VFR#52 Well-Known Member

  3. BDRacing

    BDRacing Well-Known Member

    https://www.dropbox.com/s/s1qqnoxjgbp8jsh/CMRA CC statements.pdf?dl=0

    Here's some of the stuff that, if turned over as required, would have made the entire suit unnecessary. Lots and lots of "questionable" transactions. On page 23 there is a $167 charge on 3-14 for Six Flags Over Texas. I'm sure there is a logical explanation just as there is for all of the convenience store and food charges. There are thousands and thousands of pages of this stuff out there now. It's easy to find and pretty interesting. Lots of spreadsheets showing large cash deposits to personal accounts the day or two following race weekends. Like I said, I'm sure it's all on the up and up. Just things that make you go "Hmmmmmmm".
     
    badmoon692008 and VFR#52 like this.
  4. pixie adair

    pixie adair Member

    This is rich. Jesse Davis, king of the motorcycle racing grifters, banned from USGRPU for thievery, ran off to Cali to escape the beating he deserved for stealing from other riders and racers in Texas, forever angry because Daddy doesnt love him enough. .

    You should hush child.
     
    VFR#52 likes this.
  5. Banditracer

    Banditracer Dogs - because people suck

  6. jrsamples

    jrsamples Banned

    Don't know any involved, but this is well written. :bow:
     
    MachineR1, tophyr, Steeltoe and 3 others like this.
  7. Woofentino Pugr

    Woofentino Pugr Well-Known Member

    Warp 9 Ensign Crusher. Engage.
     
  8. Dave K

    Dave K DaveK über alles!

    [​IMG]
     
    MGM and SuddenBraking like this.
  9. R Acree

    R Acree Banned

    Davis Season
     
    jrsamples likes this.
  10. Me either but I love when someone finds another gear just when you think the transmission only has so many.
     
    jrsamples likes this.
  11. speedluvn

    speedluvn Man card Issuer

    I’ve scanned the financial records and can’t believe this club is filing bankruptcy for basically failing to show their records, as required.

    I don’t have a degree from a prominent university but unless I’m overlooking some skimming type operation, the questionable charges don’t seem “too” egregious. At least not with a far fetched explanation. Besides some of the questionable transactions, could someone with some forensic financial skill point out something major?
     
  12. ryoung57

    ryoung57 Off his meds

    I don’t believe they’re filing because of what was in the records, they’re filing because they blew a shitload of money on legal fees being small-minded, arrogant dicks refusing to open the books (which would have revealed their petty mismanagement).
     
    badmoon692008 and VFR#52 like this.
  13. In Your Corner

    In Your Corner Dungeonesque Crab AI Version

    A captain goes down with his ship.
     
    VFR#52 likes this.
  14. Venom51

    Venom51 John Deere Equipment Expert - Not really

    A real captain tries not to sink his own ship.
     
    Gino230, HPPT, badmoon692008 and 2 others like this.
  15. VFR#52

    VFR#52 Well-Known Member

    So far after looking at info i dont understand why they filed bankruptcy at all?
    They are not broke and their assets are worth way more than what they owe.
    So not sure whats going on there or thoughts of why they filed bankruptcy.
    Maybe a smarter person can let us in on this.

    Steven
     
  16. Dan Dubeau

    Dan Dubeau Well-Known Member

    Is there some way that bankruptcy protection shields them from legal pursuits which might force them to reveal these "books" that are so hotly sought after?
     
    badmoon692008 likes this.
  17. VFR#52

    VFR#52 Well-Known Member

    Honestly i still cant believe that any of these lawsuits have not seen a trial so far.
    Have no clue how they have managed to keep from getting a trial date.
    So answer is have no clue.
    Maybe someone who knows law can answer that question.

    Steven
     
  18. Dave K

    Dave K DaveK über alles!

    Well, depending on their lawyer and some other factors, it actually might do the opposite. If the courts appoint a trustee and the court orders it, it might actually order the books to be opened.

    Chapter 11 allows protection against litigation.

    Take what I said with a grain of salt, it's been years since I really studied all that crap and I'm going from memory.
     
    VFR#52 likes this.
  19. TZ250lover

    TZ250lover Well-Known Member

    The opposite. The bankruptcy court will demand all of the financial records and make them public. Withholding records is bankruptcy fraud and jail time.

    It will put a stay on legal action against them.
     
  20. TZ250lover

    TZ250lover Well-Known Member

    I can’t believe they can get insurance to continue, and can’t believe they would continue to operate without it. If I were an insurer, I wouldn’t touch them.
     
    VFR#52 likes this.

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