US Watercraft/Waterline Auction

Maintaining, repairing, upgrading, commissioning, decommissioning topics.

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Mvallus
Posts: 12
Joined: Mon Sep 22, 2014 9:40 pm

US Watercraft/Waterline Auction

Post by Mvallus » Thu Nov 02, 2017 1:21 pm

As many of you may have heard, US Watercraft is in receivership and there will be an auction Nov. 11th (link below). I was planning on ordering a few sprit parts this winter from Waterline Systems, but it looks like that will be impossible. Also, in the past, Waterline has been very helpful in pinpointing rather hard-to-find replacement accessories (cushions, floorboards, veneers, etc..). 2 questions: Any idea on other suppliers of sprit seals or bushings? Any east-coasters planning on attending the auction (it would be wonderful if 109 parts would remain with 109 owners-although considering the nature of such auctions this may be a far cry).

http://www.siaai.com/?p=7021

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j30_rhapsody
Posts: 156
Joined: Wed Dec 31, 1969 8:00 pm
Location: Newport, RI

Re: US Watercraft/Waterline Auction

Post by j30_rhapsody » Thu Nov 02, 2017 3:19 pm

Matt - there is a subsequent offer in the works. Not sure who, but we're looking into it.

24 October 2017
FOR IMMEDIATE SALE, BY ORDER OF THE RECEIVER OF US WATERCRAFT, VINCENT A. INDEGLIA.

The Receiver has received an offer to purchase the trademarks, boating lines, engineering, tooling, molds and complete manufacturing process for the True North, C&C, PDQ and J/Boat for a cash purchase in the amount of $620,000.00, free and clear of all liens and encumbrances, with no contingencies and a deposit in the amount of 10% of the purchase price.Any party seeking to advance an offer for these boating lines may advance an offer by contacting the Receiver’s office at 401-886-9240 or vincent@indeglialaw.com on or before November 3, 2017.Any interested party may appear before the Rhode Island Superior Court, sitting in and for the County of Providence, at 250 Benefit Street, 3rd Floor Courtroom 5, the Honorable Associate Justice Michael A. Silverstein presiding, to advance a higher or better offer.If you would like due diligence information pertaining to the sale of these boating lines, please do not hesitate to contact the Receiver’s office.

ps - here are some photos I took of some parts for the J/109 on 2 August, just before they shut their doors. Look at the info field on Google photos for comments.
https://goo.gl/photos/xq6oh427A99jGf1a9
Last edited by j30_rhapsody on Thu Nov 09, 2017 3:03 pm, edited 1 time in total.

Mvallus
Posts: 12
Joined: Mon Sep 22, 2014 9:40 pm

Re: US Watercraft/Waterline Auction

Post by Mvallus » Fri Nov 03, 2017 11:05 am

Bill,

Thanks for the info and photos. This is better news!

Matt
Phoenix251

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