Status of Everything Attachments

   / Status of Everything Attachments #1,831  
I ordered the wicked 55 from EA jan 3 2024. I was told delivery would be "in April". During April I tried contacting them to get a status update. Got absolutely no response to phone (mailbox full), email, or web form, but my order still was showing as "processing". Then I did a web search a few days ago and saw the newspaper articles and forum posts about them going out of business and shutting down. So, I contacted my CC company and disputed the charge. CC company said I will get my money back in 90 days, assuming EA does not respond to their inquiry.

Edit: Here's my summary take, based on web research, newspaper articles, and public documents. EA (Ted) made a big gamble on his market share and strength and convinced the banks to write an ~$8M construction loan and ~$2M opex bridge loan. Allegedly the builder (Neill) f'd up the new building such that Catawba County wouldn't issue a CO, Ted withheld payment, and Neill sued. Ted (allegedly) blocked Neill from accessing the property to correct the problems, (allegedly) misused loan escrow funds to stay afloat, (allegedly) fell behind on loan payments, and ultimately the bank(s) called in the loans. Somewhere along the way a judge also issued a restraining order against Ted to force asset protection and prevent interference because (again, allegedly) Ted was/is transferring property to avoid seizure, and even put his massive 6280 sf luxury house up for sale.

Not judging, just saying. At this point most of this is allegations between EA, Neill, and the banks. But you can be sure of one thing: the lawyers will get paid handsomely regardless.

My personal opinion (based solely on his Youtube videos) is that he is a good guy that took a risky gamble. Markets and public opinion can be fickle...and merciless.
 
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   / Status of Everything Attachments #1,832  
I ordered the wicked 55 from EA jan 3 2024. I was told delivery would be "in April". During April I tried contacting them to get a status update. Got absolutely no response to phone (mailbox full), email, or web form, but my order still was showing as "processing". Then I did a web search a few days ago and saw the newspaper articles and forum posts about them going out of business and shutting down. So, I contacted my CC company and disputed the charge. CC company said I will get my money back in 90 days, assuming EA does not respond to their inquiry.

Edit: Here's my summary take, based on web research, newspaper articles, and public documents. EA (Ted) made a big gamble on his market share and strength and convinced the banks to write an ~$8M construction loan and ~$2M opex bridge loan. Allegedly the builder (Neill) f'd up the new building such that Catawba County wouldn't issue a CO, Ted withheld payment, and Neill sued. Ted (allegedly) blocked Neill from accessing the property to correct the problems, (allegedly) misused loan escrow funds to stay afloat, (allegedly) fell behind on loan payments, and ultimately the bank(s) called in the loans. Somewhere along the way a judge also issued a restraining order against Ted to force asset protection and prevent interference because (again, allegedly) Ted was/is transferring property to avoid seizure, and even put his massive 6280 sf luxury house up for sale.

Not judging, just saying. At this point most of this is allegations between EA, Neill, and the banks. But you can be sure of one thing: the lawyers will get paid handsomely regardless.

My personal opinion (based solely on his Youtube videos) is that he is a good guy that took a risky gamble. Markets and public opinion can be fickle...and merciless.
Hmmm . . .
 
   / Status of Everything Attachments #1,833  
The lawyers always get paid. I have walked that path before, lucky I still have my shirt...
 
   / Status of Everything Attachments #1,836  
Me to, I have been victimized by a law firm myself, they always come out on top.

I had a lawyer help me out greatly -- on congingency. Sure, she got her 30% or whatever, but I got paid/my issue settled without going to court.

Totally worth it.
 
   / Status of Everything Attachments #1,837  
I had a lawyer help me out greatly -- on congingency. Sure, she got her 30% or whatever, but I got paid/my issue settled without going to court.

Totally worth it.
Glad you had a good experience, I'm sure there are honest law firms, I just didn't have one in my case.
 
   / Status of Everything Attachments #1,839  
Fun fact...

Of the 56 men that signed the Declaration of Independence, 25 were attorneys. ;)
As Johnny would say, “I did not know that”
 
 
 
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