Bellavia Gentile & Associates, the law firm representing dealers in the Genmar bankruptcy case, will host a webinar Wednesday to discuss specific dealer issues that could arise in the bankruptcy proceedings.
Some of the issues, according to Bellavia Gentile & Associates, include:
• Possible termination of dealer agreements by Genmar.
• In the event of dealer agreement termination, Genmar's breach and abandonment of its obligations to repurchase inventory.
• Genmar's decree that certain dealers agree to the amendment of their existing dealer agreement or face the termination of such existing dealer agreement.
• The negotiation of the terms of any such amended dealer agreement as Genmar may insist upon onerous increased inventory/purchase requirements, increased working capital requirements and increased facility investments by dealers.
• Modifications to warranty obligations.
• Denial, delay or limitations in the payment of warranty, incentive and other payments to dealers.
The attorneys have fielded a number of other questions from dealers that will be addressed during the webinar, such as: If we do not get enough participants, will I get my money back? Will I have to pay more than the initial $1,000 fee? Will my dealership name be listed on any document? Is my dealership's participation confidential? Do Genmar dealerships who do not participate share in the benefits obtained by the committee? Who will keep me updated?
Participants should go to the Web site 15 minutes prior to the 3 p.m. EDT start time Wednesday. Click on "Join a webinar" on the left side of screen. Enter the webinar ID, 760-717-211, and e-mail address of the webinar participant. Click on suggested link in paragraph No. 1 to join the webinar.
To participate over the phone, call (916) 233-3087 and use the access code 599-833338.