AVANTI HEADQUARTERS

[CRUISER]

Went by the "Morrow" (Atlanta) headquarters of Avanti today & it looks like they are moving all the assetts out & the lot was chained & locked! Had not seen this before.

Will get pics of the 4 drs & 1 2 dr that was loaded on the truck tomorrow.

[Ernie]

Went by the "Morrow" (Atlanta) headquarters of Avanti today & it looks like they are moving all the assetts out & the lot was chained & locked! Had not seen this before.

Will get pics of the 4 drs & 1 2 dr that was loaded on the truck tomorrow.

It seems evident that Avanti is out of business.

I'd like to see those pictures. It would be helpful to track the last Avanti's from Morrow.

[Charlie Kile]

It seems evident that Avanti is out of business.

I'd like to see those pictures. It would be helpful to track the last Avanti's from Morrow.

What a shame. After finally really getting it right they cease production just because Mike's in jail.

The 2007s were, in my opinion, the best since "63".

It would be nice if someone would pick it up.

I wonder how a levereged buy out would work?

Charlie RQB3921

[Gunslinger]

I'm sure we all would love to see someone or a group committed to the product come along and pick up the pieces...though we are speculating in a vacuum of facts and accurate information.

The first question anyone needs to ask is whether what offenses Mike Kelly is accused of benefited Avanti Motors and whether it can be proven Avanti Motors received fraudulently obtained funds. If so, then we have to see what legal actions the government can take to recover those funds and how it can tie up any potential sale of the company. The fact that the company is incorporated in the US and the factory and assets are in Mexico raises all kinds of legal issues as well as international trade issues. I certainly have no idea the answers to any of those questions.

There well may be those desiring to scoop up Avanti Motors and continue the marque...there always has been up to now. It's whether both the legal questions can and financial burdens can be overcome in the short-term before even cosidering long-term viability.

All we can do is hope for the best. Our Avanti's have been orphaned before and we can handle being orphaned again.

[SBCA96]

Maybe we should rally Ford to scoop it up?? Makes sense since its

built on the new Mustang chassis. There seems to be about 200 or

more different "special" Mustangs out now, ranging from a Shelby

to the California Special - why not an Avanti edition??

Tom

There well may be those desiring to scoop up Avanti Motors and continue the marque...there always has been up to now.

Edited May 24, 2007 by SBCA96

[jbfleder]

The first question anyone needs to ask is whether what offenses Mike Kelly is accused of benefited Avanti Motors and whether it can be proven Avanti Motors received fraudulently obtained funds. If so, then we have to see what legal actions the government can take to recover those funds and how it can tie up any potential sale of the company. The fact that the company is incorporated in the US and the factory and assets are in Mexico raises all kinds of legal issues as well as international trade issues. I certainly have no idea the answers to any of those questions.

According to the FBI complaint dated 12-22-2006, $2.5 million was transferred from a Resort Holdings International account to an Avanti Motors Corp account during a 1 year period from April 2002 to May 2003. They claim the money was used to make Avanti payroll because so few cars were being sold. The FBI also claims that Kelly used the Avanti office in Georgia to operate the suspected ponzi scheme. I believe Kelly moved most of the Avanti assets to Mexico to keep them out of reach of the US government. Also the reason that after Kelly was arrested David Sharples stated that Kelly was no longer chairman of the company and no longer owns any share of it. Puerto Cancun and the Mexican government have been going to great lengths to cover up their association with Michael Kelly since his arrest. Puerto Cancun removed all references to his name and claim he was never associated with the development when a 2004 press release stated that Michael Kelly was CEO and President of Puerto Cancun. I imagine that the US government will take control of all Avanti assets in the US and have difficulty doing the same in Mexico. It has been six months since his arrest at the Mayo Clinic in Florida and Kelly is still in a Chicago jail waiting to be arraigned on fraud charges.

[RonB]

I'd also like to see the pictures. I went there in april and saw two 4 door "shells". Jim said he owned a 4 door

but it was not for sale. Sad to see everything close. I would like to know where the inventory went.

Had some new ones in stock when I was there and told more to come in May. Also had some old ones not yet sold.

Ron