Not only is it official, but it is also a 7 verses a re-org.

It will be interesting to see where these guys show up in the future....

http://business-bankruptcies.com/cases/motor-meister-inc

Good news...hopefully they wont be back.

It's funny to me that they charge a $306 fee to file a petition that basically states you don't have any money

No it says you owe a lot of money, not that you don't have any. If I had a corporation running downhill I would pay myself as much as possible pay the proper taxes and bank it. No I wouldn't, I would try to make sure everyone was paid what they were owed. Still, it is a tactic you could try, and the money would be safe.

Frankly........It is done all the time. The part about paying yourself as much as you can before filing.

I got a feeling, lots of people going to lose a lot before it's over.

1 to 10M in liabilities and 1/2 or less than that in assets? sound business practices.

Yah....he should have changed the name to Madoff Motors.......then at least everyone would have known what was going on.