Re: NAFA FAQ letter, Dec 5
[Re: waggler]
#6684760
12/06/19 05:10 AM
12/06/19 05:10 AM
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Joined: Dec 2006
Posts: 29,861 williamsburg ks
danny clifton
"Grumpy Old Man"
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"Grumpy Old Man"
Joined: Dec 2006
Posts: 29,861
williamsburg ks
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I wonder if Hillary Clinton wrote that letter? sounds a lot like her "we came under fire" story back in the 90's
Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
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Re: NAFA FAQ letter, Dec 5
[Re: Prn]
#6684794
12/06/19 07:16 AM
12/06/19 07:16 AM
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Joined: Dec 2006
Posts: 17,624 Rodney,Ohio
SNIPERBBB
trapper
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trapper
Joined: Dec 2006
Posts: 17,624
Rodney,Ohio
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Well it is good to know that NAFA is NOT bankrupt. Haha. We have been wrong this whole time! Maybe not how it is in Canada but I believe they would be under Chapter 11 bankruptcy here.
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Re: NAFA FAQ letter, Dec 5
[Re: waggler]
#6684874
12/06/19 09:15 AM
12/06/19 09:15 AM
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Joined: Nov 2018
Posts: 697 Ontario
Saskfly
trapper
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trapper
Joined: Nov 2018
Posts: 697
Ontario
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"NAFA is not yet able to offer to receive any goods for the upcoming season for processing, although it is exploring if this may be possible." Similarly, NAFA is considering as part of its restructuring efforts if it can hold its own auction in March 2020, a joint auction or host an auction for third parties. Anyone up to shipping more fur to NAFA if they get the go ahead to receive more?
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Re: NAFA FAQ letter, Dec 5
[Re: waggler]
#6684986
12/06/19 11:01 AM
12/06/19 11:01 AM
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Joined: Dec 2010
Posts: 11,179 Armpit, ak
Dirt
trapper
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trapper
Joined: Dec 2010
Posts: 11,179
Armpit, ak
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"10. The Applicants have custody of goods that have been purchased and fully paid for by customers but have not been shipped since the date of the auction at which they were purchased. "
"In addition to purchased goods, the Applicants have custody of pelts delivered by third parties for sale by NAFA (approximately 1,000,000 pelts valued at approximately $25 million as detailed in the Lawson Affidavit). Both farmed pelts and wild pelts are delivered to NAFA for sale at its auctions. The pelts currently held by the Applicants include pelts delivered for sale at previous auctions that remain unsold and pelts that have been delivered for sale at future auctions"
Last edited by Dirt; 12/06/19 11:05 AM.
Who is John Galt?
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Re: NAFA FAQ letter, Dec 5
[Re: waggler]
#6685016
12/06/19 11:32 AM
12/06/19 11:32 AM
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Joined: Dec 2010
Posts: 11,179 Armpit, ak
Dirt
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trapper
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Posts: 11,179
Armpit, ak
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"Wisconsin Properties 50. The Wisconsin Properties consist of two separate lots. One is an office property and the other is a grading and warehousing facility. They are in close proximity to one another in Stoughton, Wisconsin. The Applicants intend to lease the Wisconsin Properties to Saga on a short-term basis through the spring of 2020 (likely through to May 31 or June 30, 2020 but discussions relating to the lease terms are still ongoing). 51. This will allow Saga to receive the relevant pelts as contemplated by the Saga Arrangement. Once this is complete and the pelts are auctioned, the building will be sold. The Monitor understands that lease negotiations have begun with Saga. "
Who is John Galt?
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Re: NAFA FAQ letter, Dec 5
[Re: waggler]
#6685024
12/06/19 11:49 AM
12/06/19 11:49 AM
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Joined: Dec 2010
Posts: 11,179 Armpit, ak
Dirt
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trapper
Joined: Dec 2010
Posts: 11,179
Armpit, ak
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"Van Ansem Group (being a collection of farms under one corporate umbrella) "
I wondered who this was. It appears to be Dutch farmers running out of the Netherlands that NAFA owes around $10 million to.
Who is John Galt?
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Re: NAFA FAQ letter, Dec 5
[Re: waggler]
#6685034
12/06/19 12:04 PM
12/06/19 12:04 PM
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Joined: Jan 2014
Posts: 610 Wyoming
thedude055
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trapper
Joined: Jan 2014
Posts: 610
Wyoming
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NAFA is doing a good job of stringing everyone along with these small notes and tidbits every little while. Seems as though they are like the hot stripper at the club. Folks get tired of the tease and then they let you touch just a little bit. I know there are implications to the market and what not but I don't know if i could ever trust this company again. It would need to be restructured and even then i would likely go elsewhere. But i suppose coonman will be pumped to here the potential. Lol.
Owner Wind River Trapping Supplies
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Re: NAFA FAQ letter, Dec 5
[Re: waggler]
#6685062
12/06/19 12:44 PM
12/06/19 12:44 PM
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Joined: Dec 2010
Posts: 11,179 Armpit, ak
Dirt
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trapper
Joined: Dec 2010
Posts: 11,179
Armpit, ak
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When you are being ordered to sell your assets that you use to operate your business, you are not reorganizing, you are going out of business.
Last edited by Dirt; 12/06/19 12:45 PM.
Who is John Galt?
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Re: NAFA FAQ letter, Dec 5
[Re: Dirt]
#6685078
12/06/19 01:00 PM
12/06/19 01:00 PM
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Joined: Jan 2012
Posts: 683 saskatchewan canada
kingrat
trapper
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trapper
Joined: Jan 2012
Posts: 683
saskatchewan canada
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When you are being ordered to sell your assets that you use to operate your business, you are not reorganizing, you are going out of business. Really, even now they wont tell the truth.
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Re: NAFA FAQ letter, Dec 5
[Re: waggler]
#6685100
12/06/19 01:29 PM
12/06/19 01:29 PM
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Joined: Dec 2006
Posts: 23,830 Wisconsin
The Beav
trapper
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trapper
Joined: Dec 2006
Posts: 23,830
Wisconsin
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Well you can always re build or buy new once the smoke clears.
The forum Know It All according to Muskrat
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Re: NAFA FAQ letter, Dec 5
[Re: Dirt]
#6685103
12/06/19 01:40 PM
12/06/19 01:40 PM
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Joined: Sep 2010
Posts: 6,585 NC, Orange Co.
QuietButDeadly
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trapper
Joined: Sep 2010
Posts: 6,585
NC, Orange Co.
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When you are being ordered to sell your assets that you use to operate your business, you are not reorganizing, you are going out of business. I think it is pretty clear that they are going out of the ranch mink business with the transfer of that to SAGA. And since ranch mink was probably 70% of their volume, they sure do not need the same assets to try to stay in the wild fur business. When all of this first came crashing down, it did not seem to me that any portion of NAFA was going to survive at all. A lot of water has run under the bridge since the initial announcements and now it does appear that they are trying to salvage a portion of the business through the reorganization process. At least, this last Q&A sure makes it sound that way. And they are starting to address at least some of the many questions about fur that they have on hand and other issues like the outstanding bad checks. Whether it works out like they think it might or not remains to be seen.
Life Member: NCTA, VTA, NTA, TTFHA, MFTI Member: FTA NRA NWTF
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Re: NAFA FAQ letter, Dec 5
[Re: waggler]
#6685106
12/06/19 01:43 PM
12/06/19 01:43 PM
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Joined: Sep 2010
Posts: 6,585 NC, Orange Co.
QuietButDeadly
trapper
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trapper
Joined: Sep 2010
Posts: 6,585
NC, Orange Co.
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And has anyone read through the documents and seen any mention of the WFSC Membership funds and how that may be addressed?
Life Member: NCTA, VTA, NTA, TTFHA, MFTI Member: FTA NRA NWTF
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