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BMW 3-Series (E90 E92) Forum > E90 / E92 / E93 3-series Powertrain and Drivetrain Discussions > N54 Turbo Engine / Drivetrain / Exhaust Modifications - 335i > HorsepowerFreaks HPF out of business?!?!?!?!



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      05-09-2013, 02:05 AM   #243
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Quote:
Originally Posted by JHR View Post
Somebody mentioned Kickstarter...1000 customers/investors x $200 is $200K...
Where's the other 1.8 mil coming from?
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      05-09-2013, 03:37 AM   #244
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Quote:
Originally Posted by JHR View Post
Somebody mentioned Kickstarter...1000 customers/investors x $200 is $200K...
200k would maybe cover the development of a kit solution with all the bugs worked out, but you certainly wouldn't sell 1000 of the kits..

Not to mention I'm not 100% sure how Kickstarter works but I imagine the money is held in escrow? If thats the case how does the shop actually build the kit and r&d it.
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      05-09-2013, 04:31 AM   #245
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Eric, try calling Chris and see if you can get that information or get the name of his lawyer so jag can contact them. I told Chris to call me if anything changes. If this snow balls and doesn't happen, I'll be back next Friday.
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      05-09-2013, 04:51 AM   #246
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Quote:
Originally Posted by Wedge1967 View Post
Eric, try calling Chris and see if you can get that information or get the name of his lawyer so jag can contact them. I told Chris to call me if anything changes. If this snow balls and doesn't happen, I'll be back next Friday.
I will. I have an appt in 45 min with Jag, but ill have to call Chris later tonnight when its AM for him.
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      05-09-2013, 06:16 AM   #247
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Good luck, keep me posted. I'll check my email also. Sorry things didn't come together, but like I said, if its not resolved by the time I return, I have your back and will make sure your car gets to FFTEC once we can recover it.
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      05-09-2013, 06:32 AM   #248
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Originally Posted by Wedge1967 View Post
Good luck, keep me posted. I'll check my email also. Sorry things didn't come together, but like I said, if its not resolved by the time I return, I have your back and will make sure your car gets to FFTEC once we can recover it.
Alright i just got back from Jag.

I need to do a special POA for whoever will/can pick up my car. Ill also send you a copy of the car title as proof that the car is mine.

The building manager will not give anyone the car, even myself unless he knows it does not belong to Chris for obvious reasons. (I havent talked to him, it just makes sense)

Ken, I need the full name of whoever you think can help me out, if you can.

Ill call the land owner and set up an exchange time. Ill have to work this on my own as i dont the owner is going to work with chris at all. It would not be in their best interest to let chris "give" stuff away. They have no idea who's it is or who the person is that they are giving the property too. The title and POA will show that the car is mine and that the person picking up the car is now "with" Chris.

Im also out of luck if the car does not have all of the hardware on it... Such as my brandnew bumper that is prolly in a box. They are not going to let any one just start collecting parts and gear. More $$$ gone for me...

Last edited by AYF80; 05-09-2013 at 06:45 AM..
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      05-09-2013, 06:36 AM   #249
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Quote:
Originally Posted by HPF 335i #1
Quote:
Originally Posted by Wedge1967 View Post
Good luck, keep me posted. I'll check my email also. Sorry things didn't come together, but like I said, if its not resolved by the time I return, I have your back and will make sure your car gets to FFTEC once we can recover it.
Alright i just got back from Jag.

I need to do a special POA for whoever will/can pick up my car. Ill also send you a copy of the car title as proof that the car is mine.

The building manager will not give anyone the car, even myself unless he knows it does not belong to Chris for obvious reasons. (I havent talked to him, it just makes sense)

Ken, I need the full name of whoever you think can help me out, if you can.
Emailing you now.
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      05-09-2013, 07:26 AM   #250
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Quote:
Originally Posted by ZooyorQ View Post
The issue is likely that his assets have been frozen and everything is on lock down until bankruptcy court begins.. as hard as this may be to swallow.. its very possible cars/parts/etc may be locked up for many weeks until you can prove ownership of the car and parts and have it released. This is in an attempt to keep all the assets from disappearing and being liquidated without the trustee.

There's a reason the track car, and drag car and big parts all likely disappeared the same day. I'm sure Chris is just as helpless at the moment as you all are. I'm not on his side, that's for sure but there is absolutely no benefit to him not giving back customers cars.. if he could he would I imagine.
This is not how bankruptcy works. All creditor collections would actually cease if he filed bankruptcy. The property owner would not be able to lock him out, evict him or even contact him about the debt during the bankruptcy proceedings. My guess is he hasn't filed bankruptcy.
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      05-09-2013, 07:48 AM   #251
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Originally Posted by falconey View Post
This is not how bankruptcy works. All creditor collections would actually cease if he filed bankruptcy. The property owner would not be able to lock him out, evict him or even contact him about the debt during the bankruptcy proceedings. My guess is he hasn't filed bankruptcy.
your guess is accurate.
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      05-09-2013, 07:53 AM   #252
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Why pussyfoot around, get a black hawk there with a squad of marines to retrieve this thing for you!?!

Seriously though good luck with it, I have only been in the N54 community for around 12 months and HPF were always promising with a few products such as their inlet manifold etc
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      05-09-2013, 07:55 AM   #253
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Quote:
Originally Posted by drjekl View Post
Why pussyfoot around, get a black hawk there with a squad of marines to retrieve this thing for you!?!

Seriously though good luck with it, I have only been in the N54 community for around 12 months and HPF were always promising with a few products such as their inlet manifold etc
LOL,

working on getting the contact info the building manager. he CANT hold my car there. Im getting the paperword together right now to show its mine and POA's for the guys picking it up for me. Im looking to end this TODAY.
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      05-09-2013, 07:57 AM   #254
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Quote:
Originally Posted by HPF 335i #1 View Post
LOL,

working on getting the contact info the building manager. he CANT hold my car there. Im getting the paperword together right now to show its mine and POA's for the guys picking it up for me. Im looking to end this TODAY.
I take it your registration and insurance papers are not in the glove box?
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      05-09-2013, 08:12 AM   #255
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eric glad to see things are looking a little better for you
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      05-09-2013, 08:29 AM   #256
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Quote:
Originally Posted by ZooyorQ View Post
The issue is likely that his assets have been frozen and everything is on lock down until bankruptcy court begins.. as hard as this may be to swallow.. its very possible cars/parts/etc may be locked up for many weeks until you can prove ownership of the car and parts and have it released. This is in an attempt to keep all the assets from disappearing and being liquidated without the trustee.

There's a reason the track car, and drag car and big parts all likely disappeared the same day. I'm sure Chris is just as helpless at the moment as you all are. I'm not on his side, that's for sure but there is absolutely no benefit to him not giving back customers cars.. if he could he would I imagine.
So Chris was able to get the shop cars out and were they sold?
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      05-09-2013, 10:09 AM   #257
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Originally Posted by foghat View Post
I take it your registration and insurance papers are not in the glove box?
I was 99% sure they were in there when i sent the car. But Josh could not find them 2 months ago when I asked for a copy.
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      05-09-2013, 10:16 AM   #258
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Quote:
Originally Posted by HPF 335i #1 View Post
I was 99% sure they were in there when i sent the car. But Josh could not find them 2 months ago when I asked for a copy.
It honestly sounds to me like HPF has been doing some VERY shady shit for months now and until this happened no-one really took notice.
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      05-09-2013, 10:20 AM   #259
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Quote:
Originally Posted by Ænema View Post
It honestly sounds to me like HPF has been doing some VERY shady shit for months now and until this happened no-one really took notice.
yeah, he's probably trying to squeeze out what he can before all goes down.
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      05-09-2013, 11:59 AM   #260
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we should just do a kickstarter to gain funds to hire someone on the inside to deal with david.
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      05-09-2013, 12:01 PM   #261
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Quote:
Originally Posted by falconey View Post
This is not how bankruptcy works. All creditor collections would actually cease if he filed bankruptcy. The property owner would not be able to lock him out, evict him or even contact him about the debt during the bankruptcy proceedings. My guess is he hasn't filed bankruptcy.
Seems like filing for bankruptcy would be the wisest thing for him to do then. Sounds like if he did that he'd get to move right back into the shop, lights on and all.. let everyones cars out, ship the products waiting to be shipped/etc.

I'm at a loss as to why he's locked out of the property and how that has any benefit to the landlord.

Unless the landlord doesn't want assets going missing that they know would be a part of the liquidation, in turn being used to pay them back for back rent/etc.

I'm sure the landlord saw a uhaul or two and all the shop cars going bye bye over the weekend and then heard the news of everyone being let go and thought Chris might be a 'flight risk'?

I'm seriously trying to figure out why the landlord is locking him out and refusing to take his rent (not sure I believe that part).
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      05-09-2013, 12:03 PM   #262
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Quote:
Originally Posted by dlbrooks18 View Post
So Chris was able to get the shop cars out and were they sold?
The Track/Drag cars were given to Derek (a friend of his) as payment for a loan that Derek made to the business back in December that was not paid back.

If your asking me if that looks like hiding assets , yes.. it certainly does look fishy.
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      05-09-2013, 12:25 PM   #263
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I want to see an HPF balance sheet.
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      05-09-2013, 01:02 PM   #264
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Quote:
Originally Posted by ZooyorQ View Post
Seems like filing for bankruptcy would be the wisest thing for him to do then. Sounds like if he did that he'd get to move right back into the shop, lights on and all.. let everyones cars out, ship the products waiting to be shipped/etc.

I'm at a loss as to why he's locked out of the property and how that has any benefit to the landlord.

Unless the landlord doesn't want assets going missing that they know would be a part of the liquidation, in turn being used to pay them back for back rent/etc.

I'm sure the landlord saw a uhaul or two and all the shop cars going bye bye over the weekend and then heard the news of everyone being let go and thought Chris might be a 'flight risk'?

I'm seriously trying to figure out why the landlord is locking him out and refusing to take his rent (not sure I believe that part).
Well if he's filed bankruptcy before it might not have been an option. As for a landlord locking him out, this one has me thrown. I'm not sure the differences between business and individual, but usually when an individual is evicted from an apartment/house the landlord must release all property. Usually it's set out in front of the house or apartment complex. I'm not sure how it works for a business. There does appear to be some shadiness though, because in either situation there had to be a legal proceeding to evict. Meaning the owner of the business knew he was about to be put out prior to the day he was put out.
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