Slidefire is shutting down?

[bigtek]

Can you sue a company that doesn't exist anymore?

[The Annoyed Man]

Can you sue a company that doesn't exist anymore?

This.

ATF is busy putting bumpfire stock manufacturers out of business, and they are going to succeed ..... at least for the near future.... ending in the bankrupting of those manufacturers anyway unless those stocks were but a small part of their product line. Slidefire - which it’s my understanding was a profitable company until now - gets out now before the commies all pile on and sue the manufactures. You can’t sue something that doesn’t exist. Any company for which bumpfire stocks were a small enough part of their product line that they can survive without selling them, will likely be heavily sued for “having sold machine guns to civilians” by lefties once the ATF banning is complete. Slidefire can get out now and dissolve as a company, and sell off its manufacturing equipment - which after all can probably be used to make all manner of polymer products. Perhaps another gun-related company could buy the equipment to make aftermarket magazines and pistol frames, or something like that. Litigants can sue all they want, but they can’t be awarded any more money than is left in the kitty after shutting down and selling off the equipment.

Better yet, if they want to screw the inevitable litigants badly enough, Slidefire can simply close, and NOT sell the equipment, forcing the courts to sell the equipment at auction to cover litigants’ awards. It will raise fractions of pennies on the dollar. Then other companies can buy that equipment at auction for a fraction of what they would have paid Slidefire for it, and use that equipment to manufacture aftermarket magazines and pistol frames, etc., etc. I would think that the companies who buy it - including perhaps some combination of former Slidefire investors - can’t be touched by the litigants.

[spectre]

It depends on their company structure and other factors. It's possible they could liquidate their assets, pay their creditors, and distribute the remaining cash to owners and employees, leaving an empty husk behind that's effectively judgement proof. You can't get blood from a stone.

This post is for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice.

[surprise_i'm_armed]

Well, to look at this from a different angle, I read that Slidefire will shut down their
website on a date certain.

That kind of seems like they are going out of business, without explicitly saying so.

Are they just going to stop taking internet orders, yet still continue to produce bump stocks?

SIA

[The Annoyed Man]

Well, to look at this from a different angle, I read that Slidefire will shut down their
website on a date certain.

That kind of seems like they are going out of business, without explicitly saying so.

Are they just going to stop taking internet orders, yet still continue to produce bump stocks?

SIA

With the pending new ATF regulation, I don’t think there is a reseller in the country who’ll want to buy any inventory; so who’s Slidefire going to sell to?

Answer: They’re not going to sell to anybody. They are going to shut down the entire company and liquidate. Shutting down the website is just part of that process.

[flechero]

Answer: They’re not going to sell to anybody. They are going to shut down the entire company and liquidate. Shutting down the website is just part of that process.

THey were right popular at the gun show today!

I hope thy have a plan to shut down, dissolve and restart a new business (free of any legal baggage) and "re-employ" the current staff.

[The Annoyed Man]

Answer: They’re not going to sell to anybody. They are going to shut down the entire company and liquidate. Shutting down the website is just part of that process.

THey were right popular at the gun show today!

I hope thy have a plan to shut down, dissolve and restart a new business (free of any legal baggage) and "re-employ" the current staff.

I’ll just bet they were......and I’ll also bet they were mostly cash sales!

[TreyHouston]

I still have an extra one to sell if anyone if interested! I don’t keep any personal information and it is new in packaging