FLW in dispute with Genmar companies over engines - Trade Only Today

FLW in dispute with Genmar companies over engines

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FLW Outdoors, the country's largest tournament-fishing organization, is asking the bankruptcy court for permission to pursue remedies under state law to obtain possession of 46 engines - valued at more than $450,000 - it says are now with Genmar's Ranger and Stratos boat companies, but owned by FLW Outdoors.

The engines in question are 42 Evinrude engines and four Yamaha engines.

FLW says it still holds the Manufacturer's Statement of Origins for 20 engines in Ranger's possession, with a combined value of $188,667.50 and holds the MSOs for 22 engines in Stratos' possession with a combined total value of $223,244.

It also holds the MSOs for four Yamaha engines with a combined total value of $39,846.80.

The total combined value of the engines is $451,758.30.

"Prior to filing this motion, FLW Outdoors demanded that Ranger and Stratos turn over possession of the 42 FLW Evinrude engines and the four Yamaha engines that FLW Outdoors owns ... but the debtors have refused," FLW said in court documents.

FLW said it is seeking emergency, expedited relief in the case "because, upon information and belief, Ranger and/or Stratos has purported to sell or may attempt to sell one or more of the FLW engines in direct violation of their prior agreement with FLW Outdoors," according to court filings.

"Upon information and belief, one or more of the FLW engines have been installed on boats and/or transferred to third parties without the prior permission of FLW Outdoors and is in direct contravention of FLW Outdoors' ownership interest in them," documents state. "In lieu of expedited relief, FLW Outdoors seeks an order temporarily restraining the debtors from transferring any of the FLW engines or taking any other action that could affect FLW Outdoors' ownership interest in them ..."

A hearing on this motion is set for Nov. 16.

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