Vectrix Insolvency: Current Status?

Here are the bits I find interesting:

New Vectrix LLC ("New Vectrix"), a Delaware limited liability company sponsored by GH Venture Partners LLC

So, who are GH Venture Partners, LLC?

he Company expects to continue normal business operations consistent with its obligations as a chapter 11 debtor-in-possession company under the jurisdiction of the Bankruptcy Court. The Company's subsidiary, Vectrix Poland Sp. z.o.o., will continue to produce the Vectrix bike and will provide customers with accessories, spare parts and technical support.

Business as usual - I wonder how long the chapter 11 process will take? The US dealers who dumped their bikes on the prior "chapter 7 in 30 days" press release must be a little unhappy.

Providing New Vectrix LLC is the winning bidder they have also agreed to extend warranty coverage on the Vectrix vehicles previously sold to dealers and consumers up to a $2,000,000 cap for claims filed 60 days post-petition.

Although that sounds good - doesn't that mean that they've curtailed the warranty to 60 days? And when is "post-petition"? Is the petition date today - so it's 60 days from now? Or is it when New Vectrix is selected as winning bidder? Sounds like you should get your warranty claims in quick - if you can find a dealer who will honor them in that time.

Fascinating stuff. Wonder what happens next...

GH Venture Partners LLC seems to be an historical investor of Vectrix.

Vectrix is in the list of the main clients on GHVP WEB site.
See http://www.ghventure.com/Adv-Direct-Invest-Clients.htm

My friend Google has also found an interesting article which talks about GHVP : http://www.thestreet.com/story/10243545/1/bayou-and-the-bush-cousin.html.

However, I don't master enough english language to understand the real implication of GHVP in this story...

The article is dated 2005, as is that page of customers at GHVP (and talks about the VX-1 "to be released in 2006"). The article doesn't really pertain to anything illuminating about the current position it's taking with "New Vectrix".