Deed of Assignment for the Benefit of Creditors

On February 27, 2013, we received the following letter:

StealthLetter.

My guess is that this is a part of a Chapter 7 Bankruptcy – Liquidation.  Note that if Stealth owes you anything, it is your job to file with the Assignee by March 29, 2013.

According to Investopedia.com:

Definition of ‘Chapter 7’

A bankruptcy proceeding in which a company stops all operations and goes completely out of business. A trustee is appointed to liquidate (sell) the company’s assets, and the money is used to pay off debt.

Read more: http://www.investopedia.com/terms/c/chapter7.asp#ixzz2MJ60r5fC

Again, we will post what we know, when we know it.  We are also prepared to support our customers with any needs for their Stealth Vehicles.  We still think very highly of the Stealth Night Hawk and Night Hawk Hybrid which we have handled and sold and feel our customers will get good service from the machines.

If you have any information to add to our understanding of what is happening at Stealth, please let us now by commenting to this post.

Thanks

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2 Responses to Deed of Assignment for the Benefit of Creditors

  1. Adrian Reed says:

    My Stealth Nighthawk is a total piece of junk – great to look at but with a pathetic range. It came with marine deep cycle batteries but the Ford dealer who sold it to me replaced those with regular
    cart batts but with no benefit – matter of fact it nearly caught fire on me. Anyone have any good ideas about what I should do next. (Other than suck it up and deal with the loss). Many thanks in advance

    • ttoes says:

      Adrian, Please give me a call at 503-434-4444 (Cart-Away Concrete) and I can update you on what is going on and hopefully make some suggestions that will help with your machine.

      Tom

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