First Lawsuit Filed Today-torco (1 Viewer)
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Buddy
Nitro Member
Hmm... I think we have legal experts on this forum... Maybe they can lend their professional opinion...
I would think the teams that have contracts may have a chance at a lawsuit, but I don't know how many if any do have a contract... Even of the ones that do, I would assume a number of them wouldn't think of suing them... I wonder which team it was...
CJ Curtsinger
I would think the teams that have contracts may have a chance at a lawsuit, but I don't know how many if any do have a contract... Even of the ones that do, I would assume a number of them wouldn't think of suing them... I wonder which team it was...
CJ Curtsinger
yoda
Nitro Member
????
"Shaky oil market"- as a barrel of crude is double what it was last year, and consumption is up?
If that's shaky, put me on top of the mixmaster...
????
"Shaky oil market"- as a barrel of crude is double what it was last year, and consumption is up?
If that's shaky, put me on top of the mixmaster...
If Evan's business is only downstream then they could possibly really be hurting. A downstream business is only the refining and marketing of gasoline and byproducts of oil. With oil prices around $100 a barrel and the gas spot prices are at a similar price to what they were when oil was at $60 a barrel, the refining margins are in the toilet (the price of oil drives the COGS). I don't believe Evan's business has any upstream (exploration and production) assets so he can not realize the true integrated value of oil and gas.
CJ...are saying that those teams that might be in a legal position should not move forward w/ a suit due to past support?
If an employer had a contract w/ you and they bailed after you were commited to doing the agreed assignment would you eat the loss and not be upset?
Many racers are very upset as this is not how you conduct business...
If an employer had a contract w/ you and they bailed after you were commited to doing the agreed assignment would you eat the loss and not be upset?
Many racers are very upset as this is not how you conduct business...
Mr. Jean
Nitro Member
This sounds like it might get ugly.
Brian, while I do know what you meant, it's already ugly for many. Legal issues aside, it's just a shame that for whatever reason, that this has happened.
Buddy
Nitro Member
Not at all... I just said I don't think many will sue... I think its a tough situation because some money has already been spent planning for the year and buying parts, so those teams are going to be left with a bill that should have been picked up by Torco (or at least thats my assumption)... That I think is the "easy to sue for" part because they only bought it contingent upon Torco helping...
CJ Curtsinger
The Counterfeiter
Nitro Member
Anyone can file a lawsuit. Having pockets deep enough to pay an attorney qualified to practice in Federal courts and outlast the opposition is an entirely different matter. If your sponsor is a corporation, they probably have a legal department that can tie the case up for years. Every motion and continuance will result in more bills from your attorney. This is ugly deal - blindsided teams have zero chance of a quick resolution.
We all hope Evan can get through his health issues, but waiting until a week before testing starts to drop this bomb is just wrong.
We all hope Evan can get through his health issues, but waiting until a week before testing starts to drop this bomb is just wrong.
I think everyone will agree with you! This will have an impact on many individuals and their families.
rocketman
Nitro Member
I haven't read everything but if they were all "handshake" deals and Torco notified everyone last Fall I don't think anyone would have anything to sue about let alone ***** about.
But when he just announced another sponsorship two weeks ago (a dark colored Funny Car in IHRA) and then shuts everything down abruptly now, Torco's got some explaining to do. But I hope that nobody sues it's bad for everyone and bad for future sponsorships.
But when he just announced another sponsorship two weeks ago (a dark colored Funny Car in IHRA) and then shuts everything down abruptly now, Torco's got some explaining to do. But I hope that nobody sues it's bad for everyone and bad for future sponsorships.
"Dr. Dirt"
Nitro Member
The lawyers love it and these suits should take care of any possibility of future or renewed sponsorships. If I were Evan, I'd never come back after being sued.
Now that we are announcing the suits are we also going to post links to them to expose the plaintiffs and review the details of the complaints once they've been filed and become a matter of public record? Sounds only fair to me not to mention it will dissipate any possible rumors.
Bobby...I do not think you would conduct business the way this situation has been handled and if you commit to something in a contract then you need to honor it.
And for the record on ESQ's...They have done America many rights and many wrongs...But our country could not run w/out em.
PRINCIPAL is the main reason people file civil suits according to my wifes firm..
Some teams have not been paid for the last quarter of 2007 w/ the understanding they would be doubled-up in the first quarter of 2008 so teams moved forward and prepared for this season on credit or out of their own pocket..
Imagine being $400,000 in debt waiting for payment and the promisor bails...
And for the record on ESQ's...They have done America many rights and many wrongs...But our country could not run w/out em.
PRINCIPAL is the main reason people file civil suits according to my wifes firm..
Some teams have not been paid for the last quarter of 2007 w/ the understanding they would be doubled-up in the first quarter of 2008 so teams moved forward and prepared for this season on credit or out of their own pocket..
Imagine being $400,000 in debt waiting for payment and the promisor bails...
Bob
Nitro Member
...and the tooth fairy is real.
Meeks
Nitro Member
Justin Humphreys posted on another site that his Torco sponsorship came through as a package with his engine deal during the season and it was too late to get out of the sponsorship. He said the deal was worth alot of money, but to this day hes never been paid. For me, this raises huge red flags and makes you go....hmmmmm???
If Evan's reason for taking 2008 off, is because of his health condition, and that is his ONLY reason then I'd have to say its a little coldhearted to file a lawsuit based on the circumstances even though it is a little shady that its come out so late in the off season. As of right now it seems as pure speculation and I'd like to see the lawsuit and its reasonings first.
If Evan's reason for taking 2008 off, is because of his health condition, and that is his ONLY reason then I'd have to say its a little coldhearted to file a lawsuit based on the circumstances even though it is a little shady that its come out so late in the off season. As of right now it seems as pure speculation and I'd like to see the lawsuit and its reasonings first.
rocketman
Nitro Member
I'll be damned.
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Unless you know whats going on in Evans Life, Dont asume thats its because he has no money, the Guy is hurting, People close to him know that he is not the same man we knew 2-3 years ago. Dont put him on the chopping block unless you Have Facts, For those that do Sue him, The will cut there own throats, Dont bite the Hand that feeds you As Im always told, This is just my 2 Cents on this. Please Dont Bite ME>
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