MSD: Just read your last post. Bridgewater Tractor Parts existed before the Phillips sold their business. It was the owner of Bridgewater who purchased EVERYTHING the Phillips had in 1998. The non-compete clause was to keep the Phillips from continuing their business until he could pay off what he had bought. But he never took physical possession due to the fact he went bankrupt. I asked my Dad about this (he used to be a lawyer), and because this guy did pay something before he went bankrupt, he still technically has a claim on everything mentioned in the original sale, which includes the land, inventory at the time, etc., as long as he pays up. While a long shot, if he challenged in court he could have the sale delayed until ownership is worked out. Which would make for an even stickier mess because now there is a new buyer and the auctioneers to tangle with. And for those claiming that what is being auction off is the Phillips private collection, I doubt Gary Phillips could have collected 2500+ antique tractors and all that other stuff in less than 10 years, especially if he was looking to get out of the whole tractor business scene.
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