Kachina Boat Information

[AZJD]

Hey guys in respect to Dave's original thread i'm gonna move the info sharing over to this thread so to not tarnish the original threads message or purpose.

If anyone has any questions for me you can drop them here and I will do my best to keep giving you update as I can. I don't work for or have any ties to Kachina Boats or the Majors family, I simply work across the street and want to help in any way I can.

Good luck to everyone trying to get info I will halp as much as I can.

Justin

 

[AZJD]

Bump! Sticky....

 

[rooseveltlake]

is there any thing new on what is happening with kachina boats.... we still cant contact anyone...

 

[AZJD]

is there any thing new on what is happening with kachina boats.... we still cant contact anyone...

There is a security guard out there 24/7 and I catch people in the yard occasionally but NOTHING has left the yard. Take a chance and swing by in the AM and see if you can catch someone in there inventorying.

 

[AZJD]

I believe the owner of the property is Louies old partner. I do not know the name off hand.

 

[1oudad]

I believe the owner of the property is Louies old partner. I do not know the name off hand.

It's Dave Kraecker.....

 

[AZJD]

These were put up over the weekend. Sorry if you can't read them. Looks as if they are from the banks requesting a receiver.

 

[1oudad]

Thanks once again AZJD for being our eyes and ears out there. Sounds like they're looking for someone to take responsibility and be the spokesperson for Kachina and all those customer's boats that're still sitting there. I for one am hoping for a quick finish to all this mess.

 

[mbkrcr]

So do boat owners need to be there also don"t they have to let us know thanks for the help

 

[AZJD]

I believe the way this is going down that the boat owners that have their boats in there for service and actually own them will eventually be able to go get them after the dust settles and an inventory has been performed and evaluated. This is pure speculation on my part.

Those of you that have boats unfinished I really hope you have retained counsel. This could prove to be a lengthy process.

I will keep my eyes open and keep you all updated.

 

[1oudad]

In AMB paperwork for the court date on Monday the 20th at 2:00pm, they state "....there have been numerous inquiries by parties desiring to pick up what they claim to be their boats. Lender's lein in the collateral is superior to that of any third party, and lender fears a loss of collateral if a receiver is not appointed."
Also, "The security agreements, among other things, grant lender a first priority and perfected blanket security interest in all personal property owned by the borrowers, including but not limited to cash, accounts, receivables, inventory, personal property, contracts, and general intangibles." (bold type added)


Kachina was apparently in arrears on a $750,000.00 loan that came due June 1, 2010. An extension was granted until June 30, 2010. Louie passed away 2 weeks later.

I'd just like to encourage any of you that have boats in the Kachina building, please, please, contact your attorney.

 

[rivermobster]

Was this a one man opperation or something??

What a bad situation this is.

 

[mbkrcr]

1oudad are you going to court monday I was told I didn't have to be there. Have you seen your boat yet? good luck we all may need it

 

[ShockwaveBobSquarePants]

In AMB paperwork for the court date on Monday the 20th at 2:00pm, they state "....there have been numerous inquiries by parties desiring to pick up what they claim to be their boats. Lender's lein in the collateral is superior to that of any third party, and lender fears a loss of collateral if a receiver is not appointed."
Also, "The security agreements, among other things, grant lender a first priority and perfected blanket security interest in all personal property owned by the borrowers, including but not limited to cash, accounts, receivables, inventory, personal property, contracts, and general intangibles." (bold type added)


Kachina was apparently in arrears on a $750,000.00 loan that came due June 1, 2010. An extension was granted until June 30, 2010. Louie passed away 2 weeks later.

I'd just like to encourage any of you that have boats in the Kachina building, please, please, contact your attorney.

If you own your boat, the Lender, nor Kachina, have a lien on your property, therefore they have no interest in it past making sure that it rightfully belongs to you alone.

The only thing they have claim to is any unpaid portion of your bill for any work you were having done by them and then only what they can prove was completed and not paid for.

 

[1oudad]

If you own your boat, the Lender, nor Kachina, have a lien on your property, therefore they have no interest in it past making sure that it rightfully belongs to you alone.

The only thing they have claim to is any unpaid portion of your bill for any work you were having done by them and then only what they can prove was completed and not paid for.

That is the way we're hoping things will go. We have a custom boat, unfinished, no motors, but paid in full since March. We have a Certificate of Origin, issued by Kachina that has "no lein" in the lein space on the back. We also have a contract stamped "paid in full" from Kachina. My concern is that it appears that everything in that building was collateral for this loan. At this point the best we can hope for is a boat that we will have to take somewhere else to be finished at an additional expense of many thousands of dollars. At worst we come away with nothing, and start all over again next spring. Clearly the biggest mistake we ever made.

 

[1oudad]

1oudad are you going to court monday I was told I didn't have to be there. Have you seen your boat yet? good luck we all may need it

mbkrcr, we won't be there. If we were close, we absolutely would, even though the attorney says not necessary. Do you plan to be there? We haven't seen the boat other than pictures since early May. What condition is yours in? Good luck to you too.

 

[1oudad]

Was this a one man opperation or something??

What a bad situation this is.

Nightmare is more like it! It was essentially a LLC run by Louie T Majors, although his wife was listed as a primary. She evidently has walked away from it since Louie's unfortunate death.

 

[ShockwaveBobSquarePants]

A business cannot collateralize a loan with property that does not belong to them. It would be like a parking lot owner using all the cars parked there to secure a business loan. He might have done that, but it's not legal and will not be held up in a court of law.

 

[rivermobster]

Nightmare is more like it! It was essentially a LLC run by Louie T Majors, although his wife was listed as a primary. She evidently has walked away from it since Louie's unfortunate death.

Sad she couldnt keep it going. Had this happen to some friends as well. The wife walked away cause she couldnt handle it all. She totally regets it now, but at the time, it was all too much for her.

Good luck to everyone.

 

[AZJD]

Good luck to all parties involved today. The judges decision is no doubt a big one for a few of you.

 

[1oudad]

Good luck to all parties involved today. The judges decision is no doubt a big one for a few of you.

Thanks! And thanks too for all your help out there. We're just hoping for some good news for everyone today. Will let you know how it goes.

 

[mbkrcr]

MY BOAT WAS IN FOR SERVICE I WAS SERVED WITH COURT PAPERS ON SAT. TO ANSWER AND BE IN COURT TODAY.THEY SAY I HAVE 30 DAYS TO RESPOND MORE LIKE 2 DAYS. ANYBODY ELSE BEEN SERVED?

 

[1oudad]

MY BOAT WAS IN FOR SERVICE I WAS SERVED WITH COURT PAPERS ON SAT. TO ANSWER AND BE IN COURT TODAY.THEY SAY I HAVE 30 DAYS TO RESPOND MORE LIKE 2 DAYS. ANYBODY ELSE BEEN SERVED?

That's interesting, we have not been served. Were you able to be there?

 

[mbkrcr]

NO I WASN,T IT WAS AT 2:00 TODAY WAITING TO HEAR FROM MY LAWYER HE MUST BE STILL IN COURT.WHO ARE YOU USING

 

[ROCK CHILCOTE]

Hey guys in respect to Dave's original thread i'm gonna move the info sharing over to this thread so to not tarnish the original threads message or purpose.

If anyone has any questions for me you can drop them here and I will do my best to keep giving you update as I can. I don't work for or have any ties to Kachina Boats or the Majors family, I simply work across the street and want to help in any way I can.

Good luck to everyone trying to get info I will halp as much as I can.

Justin

DO YOU WHAT'S GOING ON WITH KACHINA? ARE THEY REMAINING IN BUSINESS AND ARE THEY OPEN?

 

[ROCK CHILCOTE]

LOUIE HAS MY MOLDS AND I CANT GET ANYONE TO RESPOND TO ME...ROCKY

 

[AZJD]

DO YOU WHAT'S GOING ON WITH KACHINA? ARE THEY REMAINING IN BUSINESS AND ARE THEY OPEN?

Read all the posts in here. Too much to re-cap

Not open and not likely to re-open at this point. Will be sold or liquidated by bank at this point. See previous posts for details.

Also see this thread:

http://www.riverdavesplace.com/forums/showthread.php?t=35803

 

[AZJD]

LOUIE HAS MY MOLDS AND I CANT GET ANYONE TO RESPOND TO ME...ROCKY

LOUIE is dead

 

[angryphx]

LOUIE HAS MY MOLDS AND I CANT GET ANYONE TO RESPOND TO ME...ROCKY

Hey Mr. Chicolte - You know how to get ahold of someone. Try not blocking your number or maybe try leaving a message and you will get a call back. Maybe not with the answers you want but at least some kind of response. We are all in the same "boat". Even if it is just an ethical floatation device.
Louie does not have anything, remember he is dead. Anyone who gives a damn will at least try to give him a reputation in the afterlife.

 

[ShockwaveBobSquarePants]

I'm ready to give this year's award for most confusing post of 2010. No other entries will be considered.

 

[GregG]

Agree, never have so many words been posted without a clear "statement"
________
Ford svt contour

 

[AZJD]

Hmmm, no security guard this morning.

 

[1oudad]

Really?? That's weird. Have you seen anyone over there at all?

 

[AZJD]

Really?? That's weird. Have you seen anyone over there at all?

They must have been late this morning. Two of them there at lunch.

Any word on your situation??

 

[1oudad]

No. Just waiting. Our boat is there, though, so that's good news.

 

[lencoo12]

There is a security guard out there 24/7 and I catch people in the yard occasionally but NOTHING has left the yard. Take a chance and swing by in the AM and see if you can catch someone in there inventorying.

I believe the owner of the property is Louies old partner. I do not know the name off hand.

 

[AZJD]

I believe the owner of the property is Louies old partner. I do not know the name off hand.

He is. The bank Louie had a sizable loan through is who has a lock down on the place though.

 

[AZJD]

is there any thing new on what is happening with kachina boats.... we still cant contact anyone...

Was your F-650 lifted??

 

[daviddwilson]

So do boat owners need to be there also don"t they have to let us know thanks for the help

I believe the way this is going down that the boat owners that have their boats in there for service and actually own them will eventually be able to go get them after the dust settles and an inventory has been performed and evaluated. This is pure speculation on my part.

Those of you that have boats unfinished I really hope you have retained counsel. This could prove to be a lengthy process.

I will keep my eyes open and keep you all updated.

 

[RetroBoats]

What model molds did Kachina own. Weren't they working on a new boat called the Drone or something like that ?? Wonder where all the is going to end up ??

Also, noticed there seems to be nothing in the news about his death.

 

[AZJD]

What model molds did Kachina own. Weren't they working on a new boat called the Drone or something like that ?? Wonder where all the is going to end up ??

Also, noticed there seems to be nothing in the news about his death.

It was called the Patron 39' and he was doing a cat which I believe was gonna be called the Scorpion.

 

[TCBS]

For any of you that have boats that are being held by Arizona Multibank in the Kachina building ,and may be interested in filing a complaint:

http://azdfi.gov/Info/Intro.htm

Good luck to you all.......

 

[Mandyann14]

Kachina Boats

I have never been more disgusted of anyone in my entire life. What class this company, this FAMILY had to LIE CHEAT and STEAL to get themselves out of debt. And who did they completely screw over, my own family. To lie and say everything was done and ready for motors???? When you had barely finished the HULL and maybe a few WIRES? FINISHED???? REALLY? Basically for my family to throw their hard earned money down the drain.

Absolutely disgusting. There is a special place in the world for each of you.


Thanks Kachina, real class act.

 

[Tommy Gun Images]

Wait for it.............

 

[TCBS]

A business cannot collateralize a loan with property that does not belong to them. It would be like a parking lot owner using all the cars parked there to secure a business loan. He might have done that, but it's not legal and will not be held up in a court of law.

It might not hold up, but it is going to cost tons of money to defend the boat owner against Arizona Multibank's claims that they have priority interest in everything in that building. It just amazes me that they could even get this far in the legal system with this claim. I think they know they're wrong on this, but are just trying to get their money back by any means necessary, and hoping the boat owners won't or can't sue them. The fact is Arizona Multibank made a bad loan, and did not monitor Louie's business practices as they should have. It is patently unfair for these people to be screwed over by Kachina and then once again by AMB.

 

[RetroBoats]

Is the bank laying claim to anything that was on the property at the time of Louies death ?? If so that really stinks. Certainly makes one think twice before taking your boat any place to get repaired and so forth.

 

[NicPaus]

If my boat was in there for service or repairs I would go pick it up forcefully. If you have your title and it is registered to you this is bullshit to hear.If it was here by me in CA I would roll with you and bring a few of my officer friends to get it it back. The boats being built is another story that would have to be sorted out. I imagine prove of what you have paid to date and what you have got. Has any boat owner been able to get a boat back yet from them?

 

[mbkrcr]

I picked mine up yesterday. I had to hire a lawyer but I got everything I dropped off. I tried to pick it up about a month ago the police told the bank to give it to me ,then a sargent came out he was to lazy to mess with it and told me it was a civil matter. When I got home I called someone at the police department I think his name was Vanhorn and he told me if I could get back on the property they would have to give the boat to me.The law is quite clear on personal proprety.

 

[NicPaus]

I picked mine up yesterday. I had to hire a lawyer but I got everything I dropped off. I tried to pick it up about a month ago the police told the bank to give it to me ,then a sargent came out he was to lazy to mess with it and told me it was a civil matter. When I got home I called someone at the police department I think his name was Vanhorn and he told me if I could get back on the property they would have to give the boat to me.The law is quite clear on personal proprety.

Good to hear. Hope it works out for everyone else. F-ing lazy sargent.

 

[AZJD]

If my boat was in there for service or repairs I would go pick it up forcefully. If you have your title and it is registered to you this is bullshit to hear.If it was here by me in CA I would roll with you and bring a few of my officer friends to get it it back. The boats being built is another story that would have to be sorted out. I imagine prove of what you have paid to date and what you have got. Has any boat owner been able to get a boat back yet from them?

The place was on lock down. Two german shepherds and a security guard 24/7.