Attention: TDR Forum Junkies 
This is an E-News from RV Consumer Group;
MVP RV of Riverside, California has
recently closed its doors following a
short but stressful battle. After a
handful of the latter's executives
bought the remains of Thor California
in 2008, the new company floundered
in 2009 because of the recession and
undercapitalization.
However, MVP was transformed
into the Cinderella of the RV industry
in early 2011 when Chinese billionaire,
lithium battery inventor and electric
vehicle proponent Winston Chung
appeared on the scene like a "fairy
godfather" with a healthy infusion
of cash and the promise of much
more to come. All this was
contingent on MVP building RVs for the Chinese market
as well as the American marketplace. This American-
Chinese business alliance was widely publicized and
even resulted in a trip to the White House, where the
MVP / Chung arrangement was praised as a major
step forward in international relations.
With the new funding, MVP ramped up production
of their towables and developed a prototype for a
new all-electric class C, along with plans for an electric
class A motor home. Then the waiting began.
Production slowed and finally ground to a halt as the
promised additional funds failed to materialize. What
happened?
Although Chung claimed that
the Chinese government was slow
to approve the movement of large
sums out of China, he apparently
had not acted on his own when he
waved his magic wand and
produced the initial cash. It turned
out that he was part of a Chinese
Cinderella Story Gone Bad?
investment group called Fadar
International. The other members of
the group subsequently sued Chung
for allegedly pushing them out of the
MVP deal. They also alleged that
Chung's claim to ownership of the
MVP investment was fraudulent and
that he was using that company to
promote his image internationally. It
was Fadar then, playing the role of
the malevolent stepsisters of the
fairytale, that forced MVP to shut
down and sell all its assets.
However, MVP's upper management
was optimistic that production could
start again one way or another.
Nevertheless, it appears that
Chung's "fairy godfather" won't play Prince Charming
to their Cinderella after all. The liquidation is scheduled
for April 19, 2012.
Happy RVing!
Connie Gallant & RVCG Staff
MVP RV of Riverside, California has
recently closed its doors following a
short but stressful battle. After a
handful of the latter's executives
bought the remains of Thor California
in 2008, the new company floundered
in 2009 because of the recession and
undercapitalization.
However, MVP was transformed
into the Cinderella of the RV industry
in early 2011 when Chinese billionaire,
lithium battery inventor and electric
vehicle proponent Winston Chung
appeared on the scene like a "fairy
godfather" with a healthy infusion
of cash and the promise of much
more to come. All this was
contingent on MVP building RVs for the Chinese market
as well as the American marketplace. This American-
Chinese business alliance was widely publicized and
even resulted in a trip to the White House, where the
MVP / Chung arrangement was praised as a major
step forward in international relations.
With the new funding, MVP ramped up production
of their towables and developed a prototype for a
new all-electric class C, along with plans for an electric
class A motor home. Then the waiting began.
Production slowed and finally ground to a halt as the
promised additional funds failed to materialize. What
happened?
Although Chung claimed that
the Chinese government was slow
to approve the movement of large
sums out of China, he apparently
had not acted on his own when he
waved his magic wand and
produced the initial cash. It turned
out that he was part of a Chinese
Cinderella Story Gone Bad?
investment group called Fadar
International. The other members of
the group subsequently sued Chung
for allegedly pushing them out of the
MVP deal. They also alleged that
Chung's claim to ownership of the
MVP investment was fraudulent and
that he was using that company to
promote his image internationally. It
was Fadar then, playing the role of
the malevolent stepsisters of the
fairytale, that forced MVP to shut
down and sell all its assets.
However, MVP's upper management
was optimistic that production could
start again one way or another.
Nevertheless, it appears that
Chung's "fairy godfather" won't play Prince Charming
to their Cinderella after all. The liquidation is scheduled
for April 19, 2012.
Happy RVing!
Connie Gallant & RVCG Staff
