DENVER (AP) -- The legendary Indian motorcycle, whose sleek, classic lines have thrilled riders for nearly a century, may be resurrected as early as next year.
A federal judge plans to rule next week on a bid for the right to build the motorcycle and retain trademark and licensing authority. If approved, it would end three years of contentious legal wrangling involving dozens of companies and creditors.IMCOA Licensing America Inc., a partnership of California and Canadian motorcycle companies, has proposed paying $17 million in cash for the Indian trademark rights.
The bid was made last month after U.S. District Judge Zita Weinshienk eliminated Eller Industries from consideration, ruling the Boulder-area company had failed to live up to its purchase agreement.
During a hearing Wednesday, attorneys for Eller and creditors, as well as two motorcyclists who sat in the audience, asked the judge to reconsider and approve the Eller bid.
"This shouldn't be about getting rid of this," motorcycle dealer Steve Halprin said, referring to a push to resolve the bankruptcy. "This should be about doing what is right."
Halprin and Tony Brownser of Blum, Texas, both said the Eller bid would be better for dealers and motorcyclists, who plunked down about $3,500 apiece for cycles that were never delivered.
U.S. Magistrate O. Edward Schlatter, who is overseeing the case on Weinshienk's behalf, said he believed the Eller contract was terminated properly after company officials and representatives of the court-appointed receiver failed to agree on an extension to a closing deadline.
Weinshienk said she would review the arguments and issue a decision sometime next week.
Schlatter said he believed the receiver acted in the best interests of the creditors by recommending the IMCOA bid. "It's probably the most difficult receivership I have ever experienced," he said.
The dispute represents the consolidation of at least four claims to the rights of the motorcycle first built in 1901 by the Indian Motocycle Co. of Springfield, Mass. The company, which eliminated the "r" from motorcycle, launched America's motorcycle industry.