After shutting its doors, and putting the company into receivership, the legal process for Erik Buell Racing is moving right along, with a date now scheduled for the sale of the company’s assets. Slotted to take place on July 21st, potential buyers will be able to bid on EBR’s assets, in bulk. All winning bids are of course subject to court approval, which will be granted/not granted quickly after the auction, on July 23rd. This means that items like EBR’s unsold motorcycles, leftover parts inventory, intellectual property, etc have been grouped together, to raise money to satisfy Erik Buell Racing’s debts to creditors. As such, the sale is considered to be a going-concern, meaning that the sale is meant to factor in the value of Erik Buell Racing as a business, and not just as a collection of assets.
Finally finding a purchaser at its second auction, Moto Morini has seemingly been given a new lease on life after finding a pair of investors willing to back the Italian brand. Buying the company’s assets, but not the property where it resides, entrepreneurs Sandro Capotosti and Ruggeromassimo Jannuzzelli paid €1.96 million for the Moto Morini name, IP, and other proprietary assets.
With both investors saying they have an emotional tie to Moto Morini motorcycles, they also both come with some serious business acumen. For instance, Capotosti is the former chairman of the Banca Profilo and Jannuzzelli was the former VP and Group CEO of Camuzzi, an Italian energy group.
If Moto Morini was a household dog, someone would have taken it out to the backwoods and put the damn thing down already. Yet, Administrators in charge of handling the bankrupt company’s assets are gearing up for yet another attempt to auction the brand, building, anything in order to get some euros back for Moto Morini’s creditors. Set to take place on July 19th, the auction aims to sell the company and its premises for €4.65 million (down from €5.5 million), but will strike a deal on the assets for a cool €1.95 million (also down from €2.6 million). Will this make a difference? Probably not.
Moto Morini’s bankruptcy has been going painfully slow, but it’s all about to come to a head, as the Italian company will be put up on the auction block April 13th. The Super-Saver Moto Morini package includes all the appropriate intellectual property, assets, and equipment (sans motorcycles, which are being sold separately) for the cool sum of €5.5 million. Should no one want the whole kit ‘n kaboodle, a cheaper price of €2.6 million will be set for the production complex with two years use included. These prices are of course the auction’s guide prices.