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Buyers Trapped in Feud with Sunseeker...

Discussion in 'Sunseeker Yacht' started by YachtForums, Jul 29, 2019.

  1. Capt J

    Capt J Senior Member

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    SHTF long before Obey announced he was no longer a dealer in March. That was just a chess move on Obey's part as he was already no longer going to be a dealer before that. I know of an owner that bought a Sunseeker in February that was almost finished and one of Obey's spec boats ordered, and was bought through a different dealer at a deep discount as Sunseeker was trying to sell Obey's spec boats any way possible.
  2. Pascal

    Pascal Senior Member

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    As usual the blood sucking attorneys will be the only winners in this case
  3. bayoubud

    bayoubud Senior Member

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    Oh no, Obey does a transfer to a company with no assets setup for the purpose of avoiding financial claims by the buyer and Sunseeker. Smells like fraud, muddies the water for the honest operators in the industry.
  4. olderboater

    olderboater Senior Member

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    Well, fraud and violation of many laws have been made as accusations. Kevin's initial suit was made on May 24.

    Parties sued are Rick Obey and Associates, Rick Obey, Sunseeker USA and Sunseeker International Ltd. Interesting attempt to pierce the protection of Sunseeker USA and go after Sunseeker International which doesn't do business in FL or the US. 5 months later in Kevin's case and not even close to court.

    One thing that repeatedly surfaces is not even knowing really who you're dealing with or fully appreciating that. For instance, you're not dealing with Sunseeker International, LTD, a company with many assets. You're dealing with Obey who is buying from Sunseeker USA, a distributor with no real assets.

    On May 1, 2019, Signature Yacht Sales sued Obey over failure to provide spare propellers per a contract. That is still open.

    On April 17, 2019, JPC Sea Holdings sued Obey as Obey requested a progress payment but refused to provide any information to verify the progress.

    On February 27, 2019 Obey (Marine Consulting) sued Sunseeker USA. This suit was primarily aimed at a Jury Trial and in the meantime Sunseeker, through arbitration, got an injunction to stop Obey from continuing trying to do business as a Sunseeker dealer and then later filed for a contempt order when they claim he didn't. On March 10 sued Sunseeker International for tortuous interference on the dealer agreement.

    On April 14, 2019 Obey sued MTU over loss of value of a boat while waiting for repair of a catastrophic failure on a new Sunseeker.

    On April 22, 2019, Sunseeker sued Obey, seeking an emergency injunction and compelling arbitration. On July 10, Sunseeker was granted an order to compel arbitration. Obey appealed, got a stay on August 8, awaiting a court decision.

    And things are just heating up.

    Kevin's filings are most interesting for the information he had gathered in the process. Allegations of a Ponzi scheme are made with Obey using funds from one boat to pay for another. Further allegations are made that Sunseeker was fully aware of those practices and therefore also guilty. Even mention of RICO is made.

    The more I read, the more I expect criminal charges to arise.
  5. Yachtguymke

    Yachtguymke Senior Member

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    [​IMG]

    Priceless!
  6. RER

    RER Senior Member

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    That was the reaction I had when I read that the claim is for $12 million dollars and involves a dozen different boats. Sunseeker appears to be the other half of this sloppy mess. Under what auspices did the now arrested boat get launched and shipped to the USA? Spec boat, or sold boat, or? What a cluster #@%&.
    Last edited: Nov 7, 2019
  7. Yachtguymke

    Yachtguymke Senior Member

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    EXACTLY!!! - Obey also supposedly put liens on over 30 customers boats of various amounts for warranty work. So much for not involving the customer.
  8. olderboater

    olderboater Senior Member

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    Sunseeker's stance has been that as the buyer, Rick Obey and Associates, is in breach of the contracts and hasn't made full payment on any of the boats, then all orders are cancelled and the boats are available. Read Capt J's post #41. They told buyers they needed to get with Obey over the payments.

    Kevin Turner (or his attorney) had a great Warren Buffett quote and that was "You only find out who is skinny dipping when the tide goes out." He equated the souring of the relationship between Obey and Sunseeker to the tide going out.
  9. RER

    RER Senior Member

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    What I get from this is Sunseeker went along with the way Obey operated until Obey's payments, regardless of where they were applied, stopped coming. Again I think this looks very bad for Sunseeker. It's very bad PR and they can't put the toothpaste back in the tube now.
  10. olderboater

    olderboater Senior Member

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    That may be partially true but Obey was applying them to specific boats. Sunseeker delivered when a boat was paid off. Until that point, I'm suspecting they didn't care how he applied payments. They never saw the actual payment from the customer.

    Now, how much they knew and when can become important if a DA were to charge Obey and then charge Sunseeker under RICO.
  11. Yachtguymke

    Yachtguymke Senior Member

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    Kevin is getting a great deal on that boat right now! Free freight and the boat is worth $600-700K more now after Sunseeker changed the HIN from a 19 to a 20. But they question remains - Who is going to do the PDI and Warranty work when the tide goes out?
    Last edited: Nov 7, 2019
  12. olderboater

    olderboater Senior Member

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    Sunseeker Fort Lauderdale I believe. Capt J can confirm based on up to date information. I would think most would use them only for warranty.
  13. olderboater

    olderboater Senior Member

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    This all reminds me of something I've seen many times over the years. Someone who can really sell can remain employed for a long time regardless of anything else including integrity. Often it comes back to cause extreme problems when it all comes crashing down.
  14. RER

    RER Senior Member

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    Bernie Madoff?
  15. Yachtguymke

    Yachtguymke Senior Member

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    Scott Rothstein?
  16. Beau

    Beau Senior Member

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    Ahh, com' on that's not right. If he had used a competent attorney in he first place I guarantee the owner wouldn't be in this mess. Seems to me it's the yacht industry that is the cause of this hustle.
  17. Capt J

    Capt J Senior Member

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    Sunseeker has no idea which customer paid Obey and for which boat, or where the money Obey used to pay for the boat came from. All they know is a payment needs to be made by Obey for 75' XYZ and it is sent by Obey or it isn't sent by Obey.
  18. Oscarvan

    Oscarvan Senior Member

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    Wow, someone needs to point this out to Oliver Stone. Popcorn sales would be through the roof.
  19. RER

    RER Senior Member

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    There’s a lot of assumptions in your post.
  20. olderboater

    olderboater Senior Member

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    No, there's no assumption in his post. Sunseeker never sees customer payments. Now what is subject to discovery is did Sunseeker know Roby was comingling and shifting and misapplying customer payments, and, if so, when did they know that. They did attempt to audit him when ending the agreement, per terms of the agreement, but he refused to allow them to do so.