Monday, March 10, 2008
NATIONAL RV LOSES LAWSUIT AND IS GOING TO AUCTION
RV Business
Monday, March 10, 2008
A lawsuit filed by Perris, Calif.-based National RV Holdings Inc. against sidewall supplier Crane Composites Inc. was recently turned down in U.S. District Court.
Law firm Yukevich Calfo & Cavanaugh, which represented Channahon, Ill.-based Crane Composites, reported that after a six-week trial the jury took two-and-half days of deliberation to rule against National RV in the breach of contract and fraud lawsuit. National RV Holdings, which filed for bankruptcy last December and is currently divesting its assets in a March auction, claimed that Crane supplied defective sidewall material to its National RV Inc. subsidiary.
The jury held unanimously that Crane Composites, a subsidiary of Crane Co., was not liable for $28 million in compensatory damages sought by National RV for breach of contract, intentional misrepresentation and concealment. The jury further held that National RV was not entitled to recover punitive damages, rejecting its bid to recover a multiple of its $28 million demand.
The jury did find Crane Composites liable for its product warranties, and granted National RV the recovery of $3.1 million.
National RV ceased doing business in December after deregistering its common stock with the Securities and Exchange Commission (SEC). News of National RV’s two-day auction was listed on the website biditup.com.
According to the website the company is selling all manufacturing and office equipment along with the intellectual property for the company’s motorhome lines. The auction, which will be conducted on-site and online, is slated for March 26-27 starting at 9 a.m. (PST) each day.
Monday, March 10, 2008
A lawsuit filed by Perris, Calif.-based National RV Holdings Inc. against sidewall supplier Crane Composites Inc. was recently turned down in U.S. District Court.
Law firm Yukevich Calfo & Cavanaugh, which represented Channahon, Ill.-based Crane Composites, reported that after a six-week trial the jury took two-and-half days of deliberation to rule against National RV in the breach of contract and fraud lawsuit. National RV Holdings, which filed for bankruptcy last December and is currently divesting its assets in a March auction, claimed that Crane supplied defective sidewall material to its National RV Inc. subsidiary.
The jury held unanimously that Crane Composites, a subsidiary of Crane Co., was not liable for $28 million in compensatory damages sought by National RV for breach of contract, intentional misrepresentation and concealment. The jury further held that National RV was not entitled to recover punitive damages, rejecting its bid to recover a multiple of its $28 million demand.
The jury did find Crane Composites liable for its product warranties, and granted National RV the recovery of $3.1 million.
National RV ceased doing business in December after deregistering its common stock with the Securities and Exchange Commission (SEC). News of National RV’s two-day auction was listed on the website biditup.com.
According to the website the company is selling all manufacturing and office equipment along with the intellectual property for the company’s motorhome lines. The auction, which will be conducted on-site and online, is slated for March 26-27 starting at 9 a.m. (PST) each day.
