ShipCom litigaiton possible reasons for WLO going dark?

Joined
Jun 14, 2015
Messages
18
Location
Walker County, TX
#1
Apparently, ShipCom, LLC has ongoing litigation problems related to their management/ownership changes a few years ago, and from the way the filings read it was (no pun intended) a bloody shipwreck.

The latest filing in the fracas is a motion for summary judgement for their insurance company, Scottsdale, which grants them immunity from covering financial losses incurred during the apparent management hijacking (the bloody shipwreck) a few years ago, which is the subject of also on-going litigation in Alabama - effectively dealing a blow to their status as an ongoing concern.

Motion: https://www.dandodiary.com/wp-conte...verage-decision-southern-district-of-ohio.pdf

My assessment of the situation, from what I have read, is that their management went out on a limb for a lucrative business venture that would have been fantastic, but made some bad decisions along the way and some bad actors took advantage of the situation like some sort of southern-fried Carl Icahn-esque board-room raid.

Hostile takeover, sell the valuables, conglomerate what's left, and spin it off to oblivion - to hell with the damage left in its wake.

Makes me feel even more sad if it's true, honestly. :/
 

ka3jjz

Wiki Admin Emeritus
Joined
Jul 22, 2002
Messages
21,536
Location
Bowie, Md.
#3
Nah, this may or may not have to do with the shutdown. It's quite possible but purely speculative. Until something definite comes along, let's keep them apart. I don't want to add speculation to a de-facto thread. Mike
 
Last edited:
Joined
Jun 14, 2015
Messages
18
Location
Walker County, TX
#4
I doubt that this filing is necessarily the reason, but it does give insight on factors that may be influencing the decisions behind it.

One thing to keep in mind is the motion I mentioned and linked to was for litigation filed in the US District Court, and not the on-going litigation in Alabama - the decision rendered by the Federal judge of that court was simply to resolve the question of ShipCom's insurance carrier covering losses related to the matter being litigated in Alabama.
 
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