In a twisted case of impending debt, the Italian court in Pesaro declared motorcycle maker Benelli as bankrupt in a ruling after the company failed to settle its dues with a component maker. The court order was made despite the fact that the bike maker offered to pay his debt to the company and claimed to be able to have sufficient funds to clear its dues, which makes the ruling all the more bizarre.
Benelli owed component maker WP Suspension (part of the KTM Group) an outstanding payment of 1,20,000 euros for suspension pieces, which the Italian company failed to pay in time. As a result, WP decided to take Benelli to court in a bid to recover its payment. The Pesaro court made the ruling in favour of WP Suspension and declared Benelli b…
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