Maclaren Us Files For Chapter 7 Bankruptcy

Discussion in 'Laser Class Politics' started by 49208, Mar 3, 2012.

  1. jeffers

    jeffers Active Member

    Likes Received:
    31
    Trophy Points:
    28
    The thing with LP certainly in the UK is that they dont actually build the hulls (I believe). This is done by a 3rd Party. LP then fit them out and distribute them (if you can call putting a few bags of parts in them 'fitting out').

    I do see a 'new' company being formed but if LP has gone 'bust' then it means that the UK and Eur trade mark is up for grabs. Perhaps the class should purchase this, they can then approve a 'new' manufacturer to use it and build boats under livense (subject to the relevant other agreements being put in place).
     
  2. Laser Tim

    Laser Tim New Member

    Likes Received:
    2
    Trophy Points:
    3
    Probably not true - Farzard transferred the Laser 1 rights to a Chinese company. Chances are he will put LP into receivership and leave the creditors out to dry, and the debts if they are to be believed, are colosall. These people are not sailors, don't understand sailing and are doing our sport a dis-service.
     
  3. Tillerman

    Tillerman Member

    Likes Received:
    21
    Trophy Points:
    18
    Really? Tell us more. What rights? Who owns the Chinese company? What do you think the Chinese company will do with these rights?
     
  4. 49208

    49208 Tentmaker

    Likes Received:
    33
    Trophy Points:
    48
    May be referring to Meywin LTD in Hong Kong. Also owned by Farzad. Would expect it would continue as usual. As mentioned above it will be the suppliers that get hung out to dry.
     
  5. jeffers

    jeffers Active Member

    Likes Received:
    31
    Trophy Points:
    28
    The other option is that the class gets together with the current interested parties (who are still viable) and comes up with a name change. That way the class can then retain the TM rights in all regions and license builders as they see fit whilst protecting the current viable builders.

    This would need a class vote of course and probably ILCA approval but it is one possibly way out of the current mess and would give the class more control over who they can detail to build the boat.

    Now if they could also negotiate with BK to obtain the 'design rights' or have some way that all royalties for all hulls get paid to ILCA who then pass it on to BK (or whoever holds the design rights) this may also remove yet another 'grey area' and allow the class to be in control of their destiny rather than having to rely on others.

    I am sure there are 1001 reason why the above will never happen though
     
    • Like Like x 1
  6. gouvernail

    gouvernail Active Member

    Likes Received:
    17
    Trophy Points:
    38
    Lets all get one of these while we wait for a new Laser builder


     
  7. suthera

    suthera Member

    Likes Received:
    3
    Trophy Points:
    8
    Rumor doing the rounds at Masters worlds in Brisbane - new full rig sail and carbon top section pretty much approved by all parties but no word on a delivery date. Also whispers that the US / Europe builder is broke and a replacement manafacturer is being sought. I don't know how accurate this info is, but thought I would share what I heard.
     
  8. Wavedancer

    Wavedancer Upside down? Staff Member

    Likes Received:
    137
    Trophy Points:
    63
    Regarding the top mast and sail issue, it was written on this erudite Forum, that such changes must be approved by all the builders. Rumor (!) had it (on this erudite Forum, no less) that PSA was strongly in favor, but that LPE was holding out. If LPE is in fact (almost) out of the picture, the changeover would take longer still.

    Am I death rolling?
     
  9. torrid

    torrid Just sailing

    Likes Received:
    55
    Trophy Points:
    48
    The one thing that is perfectly clear is no change to the sail or spars can happen until the fundamental rule/builder issue is resolved. As far as anything else you may read or hear, watch your step folks.
     
  10. jeffers

    jeffers Active Member

    Likes Received:
    31
    Trophy Points:
    28
    That may be the case but if the US/Europe builder is out of the picture, even temporarily whilst a new builder is appointed, then this makes it easier surely as the 'new' builder will need to comply with the construction manual and equipment specification which will be the new designs.....
     
  11. Deimos

    Deimos Member

    Likes Received:
    12
    Trophy Points:
    18
    This issue does seem to raise questions as to why the class leadership tried to support LPE when they failed to pay contracted payments to the "right holder". Of course if a company is going broke and cannot afford to pay then it is a problem but is no reason to start changing the class rules to financially help a company in the process of going bust at the cost of the "rights holder".

    It now becomes clearer why ISAF did not allow the rule change through and does raise questions about what the class leadership were playing at. I think it becomes even more important that they (ILCA leadership) explain what they were playing at.
     
  12. 49208

    49208 Tentmaker

    Likes Received:
    33
    Trophy Points:
    48
    Don't put LP in the grave and start shoveling the dirt just yet (as much as the might be in the best interest of the class members) - There is no indication that they want to get out of the business.
     
  13. sprayblond

    sprayblond Member

    Likes Received:
    2
    Trophy Points:
    8
    This takes One Design boats to a whole new level. We now have NMOD. No Manufacturer One Design. This gives an extremely level playing field where no one has an advantage. European stockist are out of stock of items such as laser sails and radial lower masts. Back ordered a long time ago. No indication when will be delivered. Will be interesting when the measurers reject bent lower masts and new ones cannot be bought....
    This is what happens when you create a monopoly... Told you so...
     
  14. Wavedancer

    Wavedancer Upside down? Staff Member

    Likes Received:
    137
    Trophy Points:
    63
    That's Tom Slingsby sailing the D1 on Lake Garda.
     
  15. Merrily

    Merrily Administrator Staff Member

    Likes Received:
    14
    Trophy Points:
    38
    D1? Is that like this boat is D 1?
     
  16. AlanD

    AlanD Former ISAF Laser Measurer

    Likes Received:
    47
    Trophy Points:
    28
    Enough people purchasing unauthorised parts, can impact on both cash flow and profitability, when these are impacted in a negative way, bankruptcy can occur. People are often their worst enermy.
     
  17. LooserLu

    LooserLu LooserLu

    Likes Received:
    5
    Trophy Points:
    38
    Merrily,
    "THIS" (the "D One") absolutely is a THRILL!!!!!! She (the "D One") additionally is sailed by a spi ... -> Thismeans she (the "D One") is a "Triple A"-"Laser-EPS"* !!! :)) (*: "google" for pictures of a "Laser-EPS"....). Especially there, where the multi Laser Champion Robert Scheidt and his lovely wife Gintarre now live (nearby the village of Torbole, at the north side of the Lake "Largo Di Garda"/ Italy). I'm quite sure, Tom had some nice on the water competitions, or in minimum a visit with Rob at Lake Garda) !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    However, to 'jeffers', I'm able to anwser:
    My very actual informations are:
    LP- Europe still seems to produce Laser's, beside of any truth or un-truth rumors af a bancrupt at Mac Laren.
    The containers with plenty of those charter-Lasers for the "4.7-Laser-Worlds" are on the way to Buénos Aires (ARG), me trustfull was told, 2 days ago.

    Related to my probably new Laser: She's "still in produce"... for that in May I get my nearly new "good looking" at the Baltric Sea at GER's - Boltenhagen (aft the females "Seniors Laser Radial Worlds 2012").
    ... I put some candles to that at church, to Easter... :)

    Ciao Looser Lu
    (Perhaps very soon owner of a new "Laser -I", with Sailnumber GER 20x.xxx" or better to say with the words of the at GER so called "Junker Jörg (Martin Luther)": "And if the globe in two days comes to its final day: tomorrow I plant a tree!")
     
  18. sorosz

    sorosz Member

    Likes Received:
    4
    Trophy Points:
    18
    Seriously, this is still a Laser forum, bankruptcy notwithstanding. If you want to talk about a D1 you'd be better off going to the appropriate forum. Given the amount of whining on this forum about the cost of a Laser and parts, I'd be surprised that a lot of people here will want to spend the 15000 or so euros to switch classes. . .
     
  19. sprayblond

    sprayblond Member

    Likes Received:
    2
    Trophy Points:
    8
    So you think this is the reason the are struggling.

    What about parent company taking money out or money wasted on expensive diversification into other boats such as the Bug or trying to win in the very competitive market of making optis..? The minute quantity of replica parts is not going to influence the profitablility noticably. All new boat are with original parts and all major competions as well. I have bought 9 radial lowers this year.
     
  20. Deimos

    Deimos Member

    Likes Received:
    12
    Trophy Points:
    18
    Also, the Laser itself is only one of a large number of boats they now make, so whilst 3rd party Laser accessories will make a bit of difference I would agree that the Laser itself is just a small part of their "portfolio". I also agree that the massive diversification was an unwise more for them. I've just noticed that almost immediately after the posted financial results, they have released the following year as well - giving the company a net worth of over -£1m (that is more than minus US$1.5m)! - quite a worsening from the previous trading year. So we can now appreciate why they had stopped paying the rights holder ...
     

Share This Page