Challenger Powerboats Seeks Chapter 7 Protection

WASHINGTON, MO, May 2, 2008 (The Boating Channel)

Challenger Powerboats filed for Chapter 7 bankruptcy protection in the U.S. Bankruptcy Court last week.

According to a report in Boating Industry, the SEC filing says: “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.” [More]