Law and Rights
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- Navistar To Buy Monaco Coach ?
700 Monaco Coach shareholders are likely stuck holding an empty bag of shares of stock after the company terminated them and filed for bankruptcy in March. Everyone agrees the stock has become virtually worthless. When there's a bankruptcy, shareholders...
- $50 Million Offered For Monaco Coach Corp
An unnamed suitor has offered $50 million for substantially all the assets of Monaco Coach Corp., according to a story on the AP newswire. That could be good news for Monaco owners, many of whom have been left stranded with no warranty protection since...
- Monaco Coach Files Bankruptcy
On March 5, 2009 Monaco Coach Company filed a chapter 11 bankruptcy in its home state of Delaware. The entities that appear to be covered by the bankruptcy look like Signature Motorcoach Resorts, Inc., MCC Acquisition Corp.: Signature Resorts, Naples...
- Monaco Worsens ?
The complaints and reports are starting to come in that Monaco dealers are refusing to do warranty work because of either "slow pay" or "no pay" on warranty claims. Rumor has it that a Southern California dealer turned away a 2009 Dynasty owner's...
- More Rv Companies Bite The Dust
2008 was a bad year for the Rv industry. Some companies merged, sold off assets, closed or filed for bankruptcy protection. If you're thinking of buying a motorhome, you need to be careful of the viability of the builder to stand behind their product....
Law and Rights
Monaco Threatened With NYSE Delisting
Already suffering economically and having just consulted industry experts on how to turn its business around, now Monaco has received notice from the New York Stock Exchange that they will be delisted if things don't improve.
The same thing happened to Fleetwood recently and they still haven't gotten back on the NYSE listings.
Monaco was given notice on January 6, 2009 that it failed to comply with NYSE standards that required their common stock maintain an average closing stock price of over $1 per share for 30 consecutive trading days. As this is being typed, it's down to 63 cents from the day's start at only 81 cents.
Monaco has ten days to notify NYSE that it intends to get its value back up.
Perhaps more ominous was the NYSE note in the letter that Monaco's average market capitalization over a recent 30 trading day period was less than the minimum $25 million allowed by NYSE and for that reason alone NYSE could have immediately suspended trading and delisted Monaco stock.
Preceding the notice have been a flurry of changes of significant shares ownership notices filed by Monaco, at least 9 different SEC filings.
So what's it all mean? Nothing good, we suspect.
If you've got a Monaco needing warranty repairs, you better get it in the shop soon. There may come a point where dealer's won't do the work without you paying, if the factory stops paying for it.
Meanwhile, if you've got a lemon Monaco coach, now is the time to do something about it. Email or call us toll free right now at 1.888.331.6422.
Burdge Law Office
http://www.rvlemonlaw.com/
http://www.rvlemonlaw.com/
Because life is too short to put up with a bad Rv.
Subscribe in a reader- Navistar To Buy Monaco Coach ?
700 Monaco Coach shareholders are likely stuck holding an empty bag of shares of stock after the company terminated them and filed for bankruptcy in March. Everyone agrees the stock has become virtually worthless. When there's a bankruptcy, shareholders...
- $50 Million Offered For Monaco Coach Corp
An unnamed suitor has offered $50 million for substantially all the assets of Monaco Coach Corp., according to a story on the AP newswire. That could be good news for Monaco owners, many of whom have been left stranded with no warranty protection since...
- Monaco Coach Files Bankruptcy
On March 5, 2009 Monaco Coach Company filed a chapter 11 bankruptcy in its home state of Delaware. The entities that appear to be covered by the bankruptcy look like Signature Motorcoach Resorts, Inc., MCC Acquisition Corp.: Signature Resorts, Naples...
- Monaco Worsens ?
The complaints and reports are starting to come in that Monaco dealers are refusing to do warranty work because of either "slow pay" or "no pay" on warranty claims. Rumor has it that a Southern California dealer turned away a 2009 Dynasty owner's...
- More Rv Companies Bite The Dust
2008 was a bad year for the Rv industry. Some companies merged, sold off assets, closed or filed for bankruptcy protection. If you're thinking of buying a motorhome, you need to be careful of the viability of the builder to stand behind their product....