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Old December 20th 05, 12:34 PM posted to rec.aviation.homebuilt
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Default BD-5 historical questions

Not nearly as black and white as you think, particularly when you consider
that those people who placed deposits received substantially what they
ordered (the kits). The BD-5D deposits are another story, I don't know what
happened to those. Nevertheless, the implication is that Jim Bede stole the
escrows. He did not. He came out of the bankruptcy damn near penniless. The
company may not have been managed as well as it should have, but there is
zero evidence anyone's money was stolen. It's that simple.

"Huh?" wrote in message
news:WOKpf.656833$xm3.82164@attbi_s21...
Escrow funds cannot be swallowed up by creditors after a company folds, or
declares bankruptcy.

9) were the deposits supposedly placed in escrow?


Yes, and it was mostly swallowed up by the creditors after the company
folded.