American Marine Holdings, the owner of Baja by Fountain, Donzi Marine, Fountain Powerboats and Pro-Line Boats, and Liberty Acquisitions—at one time the reported owner of American Marine Holdings—filed for Chapter 11 bankruptcy protection yesterday in the United States Bankruptcy Court for the Southern District of Florida. At present, all companies and entities named in the bankruptcy filing are defendants in a current $61 million breach of financial obligations lawsuit filed by FCC LLC, doing business as First Capital.
The effect of yesterday’s bankruptcy filing (See the complete court documents under Case No. 11CVS1012) on the pending litigation, as well as its long-term ramifications for the Baja, Donzi, Fountain and Pro-Line boat brands in Washington, N.C., are unclear. However, according to Craig Barrie, the general manager of the boat brands, day-to-day operations have not been affected.
One thought on “American Marine Holdings and Liberty Acquisitions File For Bankruptcy Protection”
Not exactly. The 10 Chapter 11 cases were filed in Florida by Ronald L. Glass and GlassRatner as “Temporary Receiver” from the North Carolina case. We (on behalf of Joseph G. Wortley) obtained an order dismissing these 10 Chapter 11 cases due to the lack of capacity of Ronald Glass and his company, GlassRatner to file. The litigation goes back to North Carolina before Judge Gale.