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Wednesday, July 8, 2015

Who will rescue the iconic bankrupt American firearms maker Colt?

According to The Desert Sun, the Morongo Band of Mission Indians is considering investing in or purchasing Colt.  A specialist in tribal finances observes that "they've got a very sophisticated operation.... If there is a viable economic opportunity (in Colt) Morongo is a tribe that's well positioned to take it over."


For more, see http://www.desertsun.com/story/money/business/2015/07/08/morongo-tribe-colt-firearms-bankruptcy/29869485/


The Tribe's counsel first appeared in the case on June 25, 2015.  http://www.kccllc.net/coltdefense/document/1511296150625000000000006


Will the Tribe save Colt, or will other prospective financiers come forward?  Time will tell. 


Meanwhile, people interested in the Colt bankruptcy proceedings, which are pending in Delaware, can access the Bankruptcy Court's docket and other publicly available information for free online at http://www.kccllc.net/coltdefense/ 

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