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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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