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Logmaster BANKRUPT

Started by yarnammurt, December 13, 2013, 04:48:26 PM

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yarnammurt

I just got a letter in the mail with a $13,000 check saying they went under. I have been waiting on my LM-6 for over 3 months. I was going to pick up a few weeks ago. I spoke with them the week before thanksgiving they said all was good. And now this. They took my LM-15 in on trade and already sold it, so now what. I am so *pithed I cant stand it. >:( >:( >:( >:(
ATS 10" Peterson, 09 New Holland 4x4 TL90 with loader, 125hp White,2 2009 Kawasaki 610 mules,

thecfarm

That is too bad to hear they went under. I do hope you did not lose money in all this. I know you lost time in waiting.  :(
Model 6020-20hp Manual Thomas bandsaw,TC40A 4wd 40 hp New Holland tractor, 450 Norse Winch, Heatmor 400 OWB,YCC 1978-79

yarnammurt

ATS 10" Peterson, 09 New Holland 4x4 TL90 with loader, 125hp White,2 2009 Kawasaki 610 mules,

sigidi

AND a bloody sawmill, not to make ya feel worse, but losing the mill is a bigger/longer loss than $8,000 out of pocket at the moment.....
Always willing to help - Allan

JSwigga

I was wondering why they never called me back after leaving a few voice mails about buying a mill.   That stinks they built a really nice product. 
60" Lucas Dedicated Slabber, TimberKing 2200 , 5 ton Nissan forklift, John Deere FEL

petefrom bearswamp

Evidently the product was not good enough to be profitable. Sorry about your loss.
pete
Kubota 8540 tractor, FEL bucket and forks, Farmi winch
Kubota 900 RTV
Polaris 570 Sportsman ATV
3 Huskies 1 gas Echo 1 cordless Echo vintage Homelite super xl12
57 acres of woodland

1woodguy

   That would really tick me off!
Sorry you got stung
Experience is a rough teacher first you get the test later comes the lesson!

redbeard

This is terrible, sorry to hear this.
Whidbey Woodworks and Custom Milling  2019 Cooks AC 3662T High production band mill and a Hud-son 60 Diesel wide cut bandmill  JD 2240 50hp Tractor with 145 loader IR 1044 all terrain fork lift  Cooks sharp

JSwigga

Quote from: petefrom bearswamp on December 13, 2013, 06:27:38 PM
Evidently the product was not good enough to be profitable. Sorry about your loss.
pete

I think they had a great product.  Just bad marketing.
60" Lucas Dedicated Slabber, TimberKing 2200 , 5 ton Nissan forklift, John Deere FEL

drobertson

Sometimes bad marketing is confused with poor management,  I suppose they go hand in hand,  sorry for your loss,  hate to hear it,    david
only have a few chain saws I'm not suppose to use, but will at times, one dog Dolly, pretty good dog, just not sure what for yet,  working on getting the gardening back in order, and kinda thinking on maybe a small bbq bizz,  thinking about it,

Hilltop366

I guess you could count your self lucky that you got a cheque for 13gs.

I'd be standing at the bank door waiting for it to open up.

Still sucks though.

Magicman

Many times it has absolutely nothing to do with the product.  Sometimes it is marketing, but it also could be "taking" more than it was "making".   :-\
Knothole Sawmill, LLC     '98 Wood-Mizer LT40SuperHydraulic   WM Million BF Club Member   WM Pro Sawyer Network

It's Weird being the Same Age as Old People

Never allow your "need" to make money to exceed your "desire" to provide quality service.....The Magicman

beenthere

QuoteThat stinks they built a really nice product.

Maybe sold it too cheap, along with the limited marketing.
A tough market to get in to.

Sorry to hear that you got hooked. Other than not letting them have your mill until the new one showed up at the door, what else could you have done?
south central Wisconsin
It may be that my sole purpose in life is simply to serve as a warning to others

Nomad

     I know I'm going to sound trite saying "That's a real shame", but I can't get away with saying what I really want to without ending up in the WoodShed.  Sure am sorry about your hit.
Buying a hammer doesn't make you a carpenter
WoodMizer LT50HDD51-WR
Lucas DSM23-19

rmack

what are the chances of showing up at the plant with a trailer and loading out enough stuff to take some of the sting out?

can you sue to get your mill back from wherever it went?
the foundation for a successful life is being able to recognize what to least expect the most... (anonymous)

Welder Bob
2012 LT40HDSD35 Yanmar Diesel Triple
1972 Patrick AR-5
Massey Ferguson GC2410TLB Diesel Triple
Belsaw Boat Anchor

Jeff

Quote from: rmack on December 13, 2013, 08:00:35 PM
what are the chances of showing up at the plant with a trailer and loading out enough stuff to take some of the sting out?


Did you really just suggest this? ::)
Just call me the midget doctor.
Forestry Forum Founder and Chief Cook and Bottle Washer.

Commercial circle sawmill sawyer in a past life for 25yrs.
Ezekiel 22:30

POSTON WIDEHEAD

Its probably better just to accept and cut your losses. No one can touch them now.
The older I get I wish my body could Re-Gen.

LaneC

I feel for you. I wished that kind of thing would not happen. I have been burned before(for almost that exact amount) and it hurts. Hope it works out a little better than it is now anyway.
Man makes plans and God smiles

JB Griffin

That really sucks, I agree with Poston Just cut your losses and make the best of it.
Best of luck.
2000 LT40hyd remote 33hp Kubota with 6gpm hyd unit, 150 Prentice, WM bms250, Suffolk dual tooth setter

Over 3.5million bdft sawn with a Baker Dominator.

rmack

Quote from: Jeff on December 13, 2013, 08:18:51 PM
Quote from: rmack on December 13, 2013, 08:00:35 PM
what are the chances of showing up at the plant with a trailer and loading out enough stuff to take some of the sting out?


Did you really just suggest this? ::)

maybe there is a cultural difference here? you never know what the situation is until you show up at the gate. I guess some people don't think twice about letting go of 8k, I see things differently.  :)
the foundation for a successful life is being able to recognize what to least expect the most... (anonymous)

Welder Bob
2012 LT40HDSD35 Yanmar Diesel Triple
1972 Patrick AR-5
Massey Ferguson GC2410TLB Diesel Triple
Belsaw Boat Anchor

beenthere

Would/could end up in handcuffs if loading out stuff, which would add more sting than already are feeling.

What is the cultural difference? 
south central Wisconsin
It may be that my sole purpose in life is simply to serve as a warning to others

shortlogger

I wonder how a guy can get Logmaster parts now ? Hopefully none of it is speciality made by them . Im pretty sure everything on my Lm 1 can be ordered from about any industrial supply store .
1 Corinthians 3:7 So then neither he who plants is anything, nor he who waters, but God who gives the increase . "NKJV"

5quarter

I too would show up at the gate, trailer in tow. perhaps after talking with the owners, some sort of material compensation could be agreed on. or perhaps not. Either way, I've learned its much more productive dealing face to face with a debtor than it is by phone or mail. They may even have another trade in mill they could give you, to replace your mill that they sold. At the least, I would find out with which court they filed and submit a claim.  There is a possibility that you may recover a portion of your losses, depending on how the assets are dispersed.
What is this leisure time of which you speak?
Blue Harbor Refinishing

Brad_S.

You guys don't understand bankruptcy laws.
Even if you owned a mill and it was on their property, once they file, you can't just go and take it back.
"Life is what happens to you while you're busy making other plans." J. Lennon

Brucer

If they've declared bankruptcy, there's not a DanG thing you or they can do to help you recover your lost money. It's in the hands of a receiver, and probably under the jurisdiction of a court. You'll be treated like any other unsecured creditor -- you'll get a share of any funds left over when the assets are sold off.

Be darn sure you follow up. Find out who the receiver is and make a claim -- don't assume they will automatically register the fact that they owe you money. Check it out ASAP because there are usually time limits involved.
Bruce    LT40HDG28 bandsaw
"Complex problems have simple, easy to understand wrong answers."

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