Deposit return

[Gurnemanz]

Can someone tell me what the options are at this point to get my $500 deposit back? I was contacted by Aptera last September and provided all the information required for the deposit return, but haven't heard from them or anyone else since. Emails and phone calls did not get returned. I discovered this forum only a few days ago and learned that the company is going through an ABC bankruptcy procedure. Even though I provided Aptera with my current contact details back in September, I did not receive the postcard that people have mentioned or any other instructions to file a claim. Comments and suggestions would be very much appreciated.

[randyd]

Originally Posted by Gurnemanz

Can someone tell me what the options are at this point to get my $500 deposit back?

The short answer is, "not on this forum". No one here speaks for Wells Fargo or Aptera.

You are not alone. Search this site for "refund". You will find there as much help as we can give you.

[palmer_md]

CissyB was sort of working on a list of folks who are registered on this forum and are still awaiting the return of their deposit. I'm not sure of the status of the group, but you might want to post in her thread so she will get notified of a response, and perhaps she can provide an update for you.

http://www.apteraforum.com/showthread.php?t=4910

[Grendal]

Here's what we do know. The liquidation company has sold off all the physical assets at Aptera. We have not heard whether the IP along with all the mules has sold. And unless it is someone willing to disclose the information we may never know the outcome of that. The fact that those awaiting reimbursement of their deposits have not received them is a good indicator that the sale of the IP has not yet occurred. I'm not a bankruptcy lawyer but I'm pretty sure that depositors will be first on the list for any payback. Letting the bankruptcy court know that you exist and would like a refund would be pretty important. How you would do that? I don't know.

[dfbvt]

Grendal

Here's what we do know. The liquidation company has sold off all the physical assets at Aptera. We have not heard whether the IP along with all the mules has sold. And unless it is someone willing to disclose the information we may never know the outcome of that. The fact that those awaiting reimbursement of their deposits have not received them is a good indicator that the sale of the IP has not yet occurred.

You are right on the mark Grendal. I managed to get on the bidders list back in January and I had several talks with the person that was assigned by Sherwood (liquidation company) to run the bidding process. I asked him if in the event that I did make a bid but I did not win, would I be able to find out who did win it. His answer was that Sherwood could not legally share that information to any other interested partys. Only the winner of the bid could disclose that information. So, if Chris (Epic) won then he undoubtedly will us know. If not, then it may just become a big mystery if the winner just wants to bury it.

I'm not a bankruptcy lawyer but I'm pretty sure that depositors will be first on the list for any payback.

Hummm.. I'm not a lawyer either (thank God) but I wouldn't be to sure on that.

Based on a previous incident were I was trying to get some money back from a client company that went bankrupt, I ended getting 3 cents on the dollar owed and that took close to 2 years. It might be possible that someones who has successfully made Sherwood aware of their indebtedness of $500 then you might get back only a portion of his/hers/my money back.

Letting the bankruptcy court know that you exist and would like a refund would be pretty important.

Very true but it may be to late. I may be able to find out if it is not to late and if so, how it could be done. But PLEASE don't count on my being successful. If I do find out the answer and "IF" I'm allowed to give that information out I will.

Dave Bowles

[wantmydeposit]

I called Idealab and the operator gave me this # (858)762-4066 it rang and

went to voice mail for Alex Van Dillon that was 20 minutes ago, I have not

received a call back as of yet.

[dfbvt]

wantmydeposit

I called Idealab and the operator gave me this # (858)762-4066 it rang and
went to voice mail for Alex Van Dillon that was 20 minutes ago, I have not
received a call back as of yet.

You are TOTALLY wasting your time whoever you are. Your 500 bucks has long since flown the coup.

Alex Van Dillon was the person assigned by Sherwood Partners LLC to handle the Aptera "Assignment for the Benefit of Creditors" (ABC). A “ABC” is an alternative to a Chapter 7 bankruptcy and is a much quicker way of settling the assets of a company. I suspect the creditors ended up with more money than they would have by following a long drawn out court process. Alex was the guy I talked with and got information from regarding just what the assets were and how they were "packaging" them for bids.

Believe me, you will NEVER NEVER get anyone to call or talk to you period!

Dave Bowles

[TruthSeeker]

Originally Posted by dfbvt

You are TOTALLY wasting your time whoever you are. Your 500 bucks has long since flown the coup.

Believe me, you will NEVER NEVER get anyone to call or talk to you period!

Dave Bowles

The only hope he/she has of getting his/her money back is if Aptera USA Inc. becomes profitable from the sale of Aptera 2e vehicles.

[dfbvt]

Truthseeker

The only hope he/she has of getting his/her money back is if Aptera USA Inc. becomes profitable from the sale of Aptera 2e vehicles.

I wish you were right but in the business world of today it will be impossible. In a legal sense, ApteraUSA is a brand new company and has nothing to do with the now defunct Aptera which in a legal sense is totally gone.

For instance, I once made a pretty big sale of my line of environmental clean up equipment where our client wanted us to purchase some accessory equipment so that they could buy everything from one company (Sole source in business parlance). That was no problem since we often provided that service. In this case, the value of the accessory equipment exceeded the value of our own equipment.

In due time we were paid for our 2 pieces of equipment but not the accessory equipment. Several months went by and our day to day financial person could not get them to pay the balance. (and I have to say she usually can get "blood out of a stone") but not this time. In due course the company went bankrupt. In the end we were told that the buyer of the company had bought the assets but NOT the liabilities (our claim for instance). Our Lawyer said that is totally legal. Not right in my mind but that’s the way it was.

You want more examples? I have several more from the 29 years that we have been business.

Believe me, the deposit money is LONG GONE!!!

Dave Bowles

[TruthSeeker]

Originally Posted by dfbvt

You want more examples? I have several more from the 29 years that we have been business.

Believe me, the deposit money is LONG GONE!!!

Dave Bowles

In the legal sense, Aptera USA Inc. (2012- Now) owns no money whatsoever to the creditors of Aptera Motors Inc. (2006-2011). However, most people will not invest their hard earn money in Aptera USA Inc. for fear of how they lost their money in Aptera Motors Inc. It would cost about $2.5 Million Dollars to pay off all the people who put down a $500 Aptera 2e deposit. I do not like to spend Millions of Dollars to clean up someone else mess. But restoring people's confidence in the Aptera 2e Dream (Idea) is more important to the success or failure of Aptera USA Inc. in the long term than spending a few Million Dollars right now. Sometimes, you have to take a big hit in the short term to have big growth in the long term. I owned $1,000 USD in General Motors. General Motors went bankrupt. I lost my $1,000 USD Investment in General Motors. If General Motors would have issued me stock in the New General Motors from my old investment, I might even bought some more stock to show my support and to try to make some money as well. General Motors did not issue me new stock so I lost my whole investment of $1,000 USD in General Motors. I will NEVER invest in General Motors ever again!