Well, now that the dust is somewhat beginning to settle following 68Caliber’s breaking of the news that SP has petitioned to convert their bankruptcy filing from Chapter 11 to Chapter 7, it’s time to take a look at a few things.
First – the filing is a public record and does contain all kinds of juicy tidbits of corporate operations – salaries, earnings, expenses, inventory, relationships, who owes what to whom – and if you head on over to Pacer.gov you can take a look at all of that stuff for yourself. Democracy in action.
Second – the forums are heating up with the initials SP all over again and there is some amazingly inaccurate stuff out there – and also some amazing insightful stuff – not to mention the speculations, some of which make a science fiction novel look like yesterday’s headlines.
The big questions are:
what happens to the patents, who is going to be getting ahold of them and what are they going to do with them?
A brief, unscientific survey offers these top ‘guesses’:
Kee Action Sports
GIMilsim
Dye Precision
A group of members from PBNation, each of whom donated a nickle to the cause (hey, they’ve got a LOT of people!)
Some outside people with lots of money who know nothing about paintball
Someone who will purchase them and place them in the public domain
Someone who will purchase them and not enforce them
Nice selection there (lots of wishful thinking too)
The other main question floating around is essentially – what happens to my SP products/does this mean that AGD/AKA/LUXE/etc will be making the (whatever your discontinued dream gun is)
The two front runners in this contest are AGD E-Mags/Pneumags and almost any electro from AKA.
Beyond that – lots of wild speculation and incorrect information. Or perhaps not so wild speculation and correct information.
Regardless, it would be nice to get the facts straight, so below you will find PDFs of some of the more interesting court documents that have so far been filed in this case:
Smart Parts Chapter 11 petition
Smart Parts Notice – includes list of creditors
Smart Parts – Notice that no unsecured creditors committee will be formed
Smart Parts petition for chapter 7 pt1
Smart Parts petition for chapter 7 pt 2
Yeah, they’re boring court documents, but in this case they make for interesting reading!

















Earlier this year (May) the distressed paintball manufacturing company Smart Parts of Latrobe, PA, filed for Chapter 11 bankruptcy protection Information filed with the bankruptcy application seem to indicate that the company had been in trouble since as early as October of 2009.














Brimstone/Ultimate Airball® launches BARGAIN NON-Inflatable BUNKERS: BuildingBlocks™ Bale Covers
PBNation announced today their involvement with and support of a new industry organization – the POA (Paintball Operator’s Association.






This morning we received this note from Steve Killgore:
