Challenger Power Boats (fka CPBI)

[Blind Bus Driver]

8K filed on April28

"BANKRUPTCY OR RECEIVERSHIP

On April 25, 2008, Challenger Powerboats, Inc. (“Challenger”), and its wholly-owned subsidiaries, IMAR Group, LLC (“IMAR”) and Marine Holdings, Inc. (“Marine”, together with IMAR and Challenger, the “Company”), each filed voluntary petitions for relief under of the Chapter 7 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of Missouri, case numbers 08-42946-705, 08-42948-705 and 08-42950-705, respectively. Judge Rendlen has been assigned to the cases and the date jurisdiction was assumed is April 25, 2008. The bankruptcy trustee for all three entities is E. Rebecca Case and the date of her appointment is April 25, 2008.

In connection with the filings, the Company has ceased all business activity and operations. The Company believes that its assets will be insufficient to satisfy the claims of all creditors and it is unlikely that the Company's shareholders will be eligible to participate in any distributions of the Company's assets as a result of the Bankruptcy. Upon liquidation, the Company will cease operations and wind up its business."


http://knobias.10kwizard.com/filing.php?repo=tenk&ipage=5624976&doc=1&total=&back=2&g=&attach=on