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Hero MotoCorp Ltd (HMCL) has filed paperwork with the Bombay Stock Exchange stating that its wholly-owned subsidiary, HMCL Americas, has entered into a settlement agreement with Erik Buell Racing, which sees the American arm of the Indian brand acquire “certain consulting project” from EBR for $2.8 million.

The filing with the Bombay Stock Exchange reads: “”As part of the settlement agreement, HMCL Americas Inc has agreed to acquire the ownership of certain tangible and intangible assets of EBR Entities, free and clear of all encumbrances, for a consideration of USD 2.8 million.”

Social media and some assorted motorcycle news websites (first here, and now here) are feverishly reporting that Erik Buell Racing has been out-right acquired by Hero MotoCorp, during the company’s receivership auction, thus confirming the wet-dream conspiracy theories of Buellistas around the world.

The report was first started by the stalwart news source Motorcycle.in.th, and was then elevated quickly into the realm of semi-truthfulness by a bevy of other news outlets.

Sources close to Buell and Erik Buell Racing have since come forward and discrediting the report, calling the story a complete fabrication. Meanwhile, Hero MotoCorp stock has risen 0.50% on the news.

With the journalistic bar now set so low, Asphalt & Rubber feels comfortable reporting that there is indeed a new owner for Erik Buell Racing, but it is not Hero MotoCorp, but instead the Flying Spaghetti Monster — deity to the Church of the Flying Spaghetti Monster.

This looks like the end of the road for motorcycle manufacturer Gas Gas, as the Spanish brand entered into liquidation today, after its bankruptcy proceedings failed to find the €30 million necessary to pay the company’s creditors.

The news is timely, as today interested parties in owning Erik Buell Racing (or parts of it) will be placing their bids on the similarly wayward company.

Back in Spain though, the news is troubling for Gas Gas fans, as the company’s assets will be liquidated, with the hope of raising enough money to pay-off the company’s creditors.

Perhaps already a reflection on the waning popularity of the brand, but the slow-to-break news this week is that Spanish motorcycle brand Gas Gas has filed for bankruptcy.

The news comes after an earlier effort by the Spanish company to try and reconcile its debt of roughly €30 million, and to restructure its business to be more profitable.

With a last-minute deal between the shareholders falling through, Gas Gas had no choice but to file with the Spanish courts.

The bar isn’t set particularly high when it comes to the motorcycle media’s coverage of complex business issues, nor would you really expect it to be. The majority of my colleagues are more likely to have amateur or racing licenses, rather than MBAs or law degrees. Fortunately for A&R, I’m not an accomplished motorcycle racer.

It therefore didn’t surprise me last week that the headlines regard Erik Buell Racing ranged in their proclamations from the more accurate “ceased operations” to “gone bankrupt” – with the even more presumptive publications proclaiming the ultimate demise of the American brand.

This comes from a lack of understanding about how the receivership process works, which my European colleagues should have a stronger grasp of, as the concept is more prevalent across the pond.

As such, I would like to explain the issue further, and how it applies to the situation facing Erik Buell Racing. To entice you on what will surely be a boring subject to many, this doesn’t spell the end of Erik Buell Racing…not even close.

Posting on the EBR Facebook page, Erik Buell has made the closest thing to a press statement about the company’s cesasation of operations and pending receivership.

First thanking fans for their support, the EBR CEO goes on to explain that the company took on too many tasks for its limited resources, which in-turn has caused EBR to excede its abilities and acquire massive amounts of debt (reports put the figure at $20 million).

Buell hopes to see EBR through the receivership process, and to “maximize the value from EBR to benefit all”. In typical Buell fashion, he leaves the possibilities for the future open. You can read the full statement after the jump.

News being broke by the Milwaukee Journal Sentinel says that Erik Buell Racing has ceased its operations. The East Troy company plans to also file for protection from creditors under Chapter 128 of Wisconsin’s bankruptcy code.

Under Wisconsin law, EBR will be placed into receivership (the company will be run by attorney Michael S. Polsky), and ultimately bids will be made on purchasing the bankrupt company. If no bids are made, the company’s assets will be auctioned off, with the profits going to EBR’s creditors.

It’s been a rough year for German manufacturer Horex, especially after the company declared bankruptcy this September. With no new investors in sight, Horex has had no choice but to close it doors, and layoff its staff, including management.

The Horex project had a rough start, and was fraught with production delays and key design changes. Posting to the company’s Facebook page today (translated into English after the jump), it would seem barring a miracle, this is the end of the Horex brand’s rebirth.

The restart of the German Horex brand hasn’t been an easy one, as we watched the company’s impressive plans for a supercharged VR6 roadster slowly become watered down into a handsome, although entirely uninteresting naked bike, which included the addition of the derivative “Classic” and “Cafe Racer” models as well.

It’s not that the Horex VR6 wasn’t received well, it’s just no one wanted to purchase the bike at its $30,000+ price tag, especially after the numerous production delays. As such, we sadly report that Horex has become insolvent, and filed for bankruptcy, according to reports out of Europe.

Bad news in the EV world, as Vectrix Motorcycles has filed for bankruptcy…again. Unlike its previous bankruptcy though, this time around Vectrix is filing under Chapter 7 of the US Code, meaning that the company will not be restructuring and keeping its business, but instead liquidating all of its assets and ceasing operation.

We had been hearing rumors as far back as October of last year that all was not well at the prominent electric vehicle company, and finally in December 2013 things came to a head, with Vectrix closing its doors on its US operations.

After finishing its bankruptcy and removing the albatross that was its former car business from around its neck, Suzuki Motor of America is ready to get down to business and start selling some motorcycles, ATV’s, and marine equipment.

Helping to bring that new transition to Suzuki, Toru Muraki will leave his post as Executive Vice President, and become Suzuki Motor of America’s new President (similarly, Takuya Sato has been named Executive Vice President, in charge of overseeing the company’s marine operations).