Government Challenges Washington-Based Boatbuilder's Bankruptcy

The federal government has filed paperwork to challenge the recent bankruptcy filing of Fountain Powerboats, based in Washington.

According to "Trade Only Today," a publication that covers the marine industry, the government has filed paperwork in Florida that questions whether the person who filed bankruptcy for the Washington-based boat company, had the jurisdiction to do so.

"Trade Only" explains that the man who filed Fountain's bankruptcy papers, Ronald Glass, was appointed a temporary receiver of the business in October, because of a lawsuit that the group First Capital filed against Fountain.

We'll keep you posted on how this all sorts out in court.

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  • by YaYa Location: ENC on Feb 20, 2012 at 03:50 PM
    He shouldn't have paid off his house with the money the city gave him.
  • by Dave on Feb 8, 2012 at 09:48 AM
    Those boats aren't fast enough to get away Reggie!
  • by Jay Location: Ca on Feb 7, 2012 at 04:08 PM
    Why don't we give them a bailout?
  • by Pete Location: Grifton on Feb 7, 2012 at 12:51 PM
    He messed up when he didn't change the name to "FOUNTAIN MOTORS" and try to get bailout money.
  • by 44mag. on Feb 7, 2012 at 07:30 AM
    I challenge(the GOVERNMENTS)ability to produce any creditable evidence and certified(passed the said bar exam)LAWYERS!!!
    • reply
      by Anonymous on Feb 7, 2012 at 08:20 AM in reply to 44mag.
      I challenge your ability to write a coherent sentence.
  • by Pass The Buck on Feb 7, 2012 at 07:07 AM
    It Was Him. He's the owner now......No I'm not., I sold it to him. ...Oh No! It's not mine!
  • by Bill Location: Kinston on Feb 7, 2012 at 04:15 AM
    "Oh what a tangled web we weave, When first we practice to deceive"

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