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Chapter 128

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The receivership of Erik Buell Racing continues to go on, as the company’s second round on the auction block ended with no fruitful resolution.

It was hoped that Monday would see the announcement of a Erik Buell Racing’s new owner, after the auction on Thursday seemed to show that a new bidder, Liquid Asset Partners LLC, had snatched up the American motorcycle effort and had plans to liquidate EBR’s assets.

However, it appears that the winning bid on Erik Buell Racing’s liquid assets has been contested by previous auction-winner Bruce Belfer and potential-bidder US Heritage Powersport. Accordingly, a new date in court set for January 14th, 2016 and formal motions to be submitted by January 4th, 2016.

This means that the ongoing saga and future of the Erik Buell Brand will continue, well into the start of the new year.

The situation around Erik Buell Racing is rapidly becoming comical, as the American motorcycle brand is headed back to auction, after its sale to Bruce Belfer failed to close.

The Milwaukee Journal-Sentinel reports that Erik Buell Racing will go back to the auctioning block on December 10th, because Belfer was unable to secure financing on his $2.25 million purchase price for Erik Buell Racing.