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Re: NAFA email [Re: Northof50] #7571221
04/27/22 06:54 PM
04/27/22 06:54 PM
Joined: Jan 2008
Posts: 990
Carroll County Va
R
red webb Offline
trapper
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Joined: Jan 2008
Posts: 990
Carroll County Va
Got the email also.

Re: NAFA email [Re: Northof50] #7571236
04/27/22 07:10 PM
04/27/22 07:10 PM
Joined: Dec 2010
Posts: 11,135
Armpit, ak
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Dirt Offline
trapper
Dirt  Offline
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Joined: Dec 2010
Posts: 11,135
Armpit, ak
Sinobec Group Inc.


Who is John Galt?
Re: NAFA email [Re: Dirt] #7571245
04/27/22 07:21 PM
04/27/22 07:21 PM
Joined: Jan 2007
Posts: 16,681
north Idaho
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wissmiss Offline
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Joined: Jan 2007
Posts: 16,681
north Idaho
Originally Posted by Dirt
Sinobec Group Inc.


Any idea who that is? Possibly some Chinese connection? Sino = Chinese. Sino-American = Chinese-American.


www.usedtraps.com

Please check out my updated inventory of Native American books.

Re: NAFA email [Re: wissmiss] #7571251
04/27/22 07:28 PM
04/27/22 07:28 PM
Joined: Dec 2010
Posts: 11,135
Armpit, ak
D
Dirt Offline
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Joined: Dec 2010
Posts: 11,135
Armpit, ak
Originally Posted by wissmiss
Originally Posted by Dirt
Sinobec Group Inc.


Any idea who that is? Possibly some Chinese connection? Sino = Chinese. Sino-American = Chinese-American.


If the court documents on Deloitte are accurate, the guy running it has a Chinese sounding name. But it's based in Montreal, I believe.


Who is John Galt?
Re: NAFA email [Re: Northof50] #7571265
04/27/22 07:46 PM
04/27/22 07:46 PM
Joined: Jan 2017
Posts: 10,063
Marion Kansas
Y
Yes sir Offline
"Callie's little brother"
Yes sir  Offline
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Posts: 10,063
Marion Kansas
Wonder how much fur those Chinese got that the trappers never got paid for. Lol got to watch those Chinese they're pretty sharp grin

Re: NAFA email [Re: Northof50] #7571266
04/27/22 07:48 PM
04/27/22 07:48 PM
Joined: Jan 2007
Posts: 16,681
north Idaho
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wissmiss Offline
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Posts: 16,681
north Idaho
Sino - Chinese. bec - last part of Quebec.

They are a big aluminum company in Quebec. Maybe branching out.


www.usedtraps.com

Please check out my updated inventory of Native American books.

Re: NAFA email [Re: wissmiss] #7571267
04/27/22 07:53 PM
04/27/22 07:53 PM
Joined: Dec 2010
Posts: 11,135
Armpit, ak
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Dirt Offline
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Posts: 11,135
Armpit, ak
Originally Posted by wissmiss
Sino - Chinese. bec - last part of Quebec.

They are a big aluminum company in Quebec. Maybe branching out.


I believe they are different. The Al co. is Sinobec Trading. Never mind, same address.

"The Purchaser has expressed an intention to revive a Canadian fur auction house
after acquiring the Assets, including hiring some of NAFA’s current and former
employees, which while not a requirement of the Transaction, is consistent with
it choosing to acquire the soft assets necessary to do so."

Last edited by Dirt; 04/27/22 08:10 PM.

Who is John Galt?
Re: NAFA email [Re: Northof50] #7571277
04/27/22 08:08 PM
04/27/22 08:08 PM
Joined: Dec 2010
Posts: 11,135
Armpit, ak
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Dirt Offline
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Armpit, ak
31. After NAFA sent the Teaser, NAFA entered into serious negotiations with the
Purchaser, which is a Canadian entity, with respect to the sale of the Purchased Assets. NAFA
had previous business dealings with Sinobec as they are related to the entity that purchased its
Skyway Premises.
32. It is my understanding that Sinobec is interested in rebooting a North American fur
industry, and the Purchased Assets would be the last pieces to put together for the foundation
of a future auction house.
33. In particular, the principal of Sinobec, Mr. John Lee, whom I have come to know over
the nine months of negotiations, has personally expressed to me his intention to use the soft
assets to start a new NAFA including the operation of a North American fur auction house.
Assuming the APA is approved by this Court and the IP Transaction (as defined in the APA)
closes, the Purchaser will have, along with its acquisition of Skyway Premises in 2021,
acquired all of the assets necessary to do so.
34. Based on my conversations with Mr. Lee, I also understand that Sinobec intends to
provide the necessary funding to permit a restart of the business and may rehire some present
and former employees whose expertise the Purchaser will require (although no formal
employment offers has been made to anyone as yet and it is not a requirement of the APA that
this occur).
35. I caution that there is no commitment or requirement in the APA for Sinobec to do this,
but I believe that there would be little purpose in acquiring the soft assets if the Purchaser did
not intend to do so.
36. The negotiations with Sinobec have been prolonged over the course of nearly nine
months as the Purchaser considered and reconsidered the future of the fur industry and the
pieces he required to engage in this business.


Who is John Galt?
Re: NAFA email [Re: Yes sir] #7571684
04/28/22 07:25 AM
04/28/22 07:25 AM
Joined: Jan 2007
Posts: 4,975
MD
D
DaveP Offline
trapper
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MD
Originally Posted by Yes sir
Wonder how much fur those Chinese got that the trappers never got paid for. Lol got to watch those Chinese they're pretty sharp grin



Prolly can't wait to get their little grubby hands on my little, nasty yellow coons still sitting up there, lol.

Re: NAFA email [Re: Northof50] #7571688
04/28/22 07:30 AM
04/28/22 07:30 AM
Joined: Dec 2008
Posts: 3,452
MN
W
walleye101 Offline
trapper
walleye101  Offline
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Joined: Dec 2008
Posts: 3,452
MN
Very interesting. Apparently not everyone believes the fur industry is finished.

Re: NAFA email [Re: Dirt] #7571721
04/28/22 08:07 AM
04/28/22 08:07 AM
Joined: Nov 2018
Posts: 695
Ontario
S
Saskfly Offline
trapper
Saskfly  Offline
trapper
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Joined: Nov 2018
Posts: 695
Ontario
Originally Posted by Dirt
31. After NAFA sent the Teaser, NAFA entered into serious negotiations with the
Purchaser, which is a Canadian entity, with respect to the sale of the Purchased Assets. NAFA
had previous business dealings with Sinobec as they are related to the entity that purchased its
Skyway Premises.
32. It is my understanding that Sinobec is interested in rebooting a North American fur
industry, and the Purchased Assets would be the last pieces to put together for the foundation
of a future auction house.
33. In particular, the principal of Sinobec, Mr. John Lee, whom I have come to know over
the nine months of negotiations, has personally expressed to me his intention to use the soft
assets to start a new NAFA including the operation of a North American fur auction house.
Assuming the APA is approved by this Court and the IP Transaction (as defined in the APA)
closes, the Purchaser will have, along with its acquisition of Skyway Premises in 2021,
acquired all of the assets necessary to do so.
34. Based on my conversations with Mr. Lee, I also understand that Sinobec intends to
provide the necessary funding to permit a restart of the business and may rehire some present
and former employees whose expertise the Purchaser will require (although no formal
employment offers has been made to anyone as yet and it is not a requirement of the APA that
this occur).
35. I caution that there is no commitment or requirement in the APA for Sinobec to do this,
but I believe that there would be little purpose in acquiring the soft assets if the Purchaser did
not intend to do so.
36. The negotiations with Sinobec have been prolonged over the course of nearly nine
months as the Purchaser considered and reconsidered the future of the fur industry and the
pieces he required to engage in this business.


Thanks Dirt......be curious to see how this plays out. Direct line to China as they have three offices there as well as numerous warehouses. Headquartered in Montreal, with warehouses/offices in Toronto, Miami, Chicago and now NAFA's real estate.

Sinobec Trading Inc. is a Montreal based wholesaler of metal products, mainly aluminum. Together with Sinometal Resources Inc. and Sinobec Resources LLC, we have successfully triangulated the metal industry. We are experts in metal using operational efficiency and robust flexible technology to supply aluminum products such as ingot, billets, plates, sheets, coils, standard and custom extrusions along with special alloys. We simultaneously offer fabrication, manufacturing, warehousing and logistics to accommodate our customers along their path.

https://www.sinobectrading.com/en/index.php

Privately held company so no financials available. Founded in 2002 so been around for awhile in a competitive market.

Re: NAFA email [Re: Northof50] #7571727
04/28/22 08:21 AM
04/28/22 08:21 AM
Joined: Dec 2006
Posts: 21,341
Alabama (Bama for short) 108 y...
Jtrapper Offline
trapper
Jtrapper  Offline
trapper

Joined: Dec 2006
Posts: 21,341
Alabama (Bama for short) 108 y...
If they're going to hire the old worker's at least get them a vision plan on their insurance or at least buy them all some reader's to wear while attempting to grade fur.

I just found out a few weeks back a guy i skinned a bobcat for in 2013 got 225.00 for it up there, lol. Nothing like a flat backed red unspotted Alabama bobcat getting a western grade.


Not my circus, not my clowns.
Re: NAFA email [Re: walleye101] #7571770
04/28/22 09:45 AM
04/28/22 09:45 AM
Joined: Dec 2010
Posts: 11,135
Armpit, ak
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Dirt Offline
trapper
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Joined: Dec 2010
Posts: 11,135
Armpit, ak
Originally Posted by walleye101
Very interesting. Apparently not everyone believes the fur industry is finished.


Just most everyone. They had a hard time finding a buyers. Saga didn't even want Black Glama label. The price for the whole works is probably less than the value of the capital assets.

P.S. and they still haven't raised enough money to pay off the Secured Creditors.

Last edited by Dirt; 04/28/22 09:57 AM.

Who is John Galt?
Re: NAFA email [Re: Jtrapper] #7571774
04/28/22 09:47 AM
04/28/22 09:47 AM
Joined: Dec 2008
Posts: 3,452
MN
W
walleye101 Offline
trapper
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trapper
W

Joined: Dec 2008
Posts: 3,452
MN
Originally Posted by Jtrapper
If they're going to hire the old worker's at least get them a vision plan on their insurance or at least buy them all some reader's to wear while attempting to grade fur.

I just found out a few weeks back a guy i skinned a bobcat for in 2013 got 225.00 for it up there, lol. Nothing like a flat backed red unspotted Alabama bobcat getting a western grade.


In that 2013 market you didn't need a western grade to bring $225.

Re: NAFA email [Re: Dirt] #7571776
04/28/22 09:49 AM
04/28/22 09:49 AM
Joined: Dec 2008
Posts: 3,452
MN
W
walleye101 Offline
trapper
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trapper
W

Joined: Dec 2008
Posts: 3,452
MN
Originally Posted by Dirt
Originally Posted by walleye101
Very interesting. Apparently not everyone believes the fur industry is finished.


Just most everyone. They had a hard time finding a buyers. Saga didn't even want Black Glama label. The price for the whole works is probably less than the value of the capital assets.


Buy low, sell high.

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