The SOAR vs HPI case hit the headlines a couple of days ago, we received the first initial contact from Didian Ho of SOAR Seiki detailing how the company had support HPI prior to the company going into administration.

Subsequently as many will know within the industry, the company Ripmax bought HPI Racing and trading has continued, however with any company entering administration there are typically signifcant amounts of paperwork that require sifting through…

SOAR put out the following statement two days ago, we reached out to HPI for a reply, continue reading the statements after the jump…

 

Update: July 29th, SOAR have in turn replied to HPI’s response to their initial statement – see bottom of article


SOAR Announcement:

“The negotiation between SOAR and HPI:

We tried our best to communicate with HPI (Ripmax) in details, but the reply was paying 20% the debt every four months. In the game like that ,HPI never clear any stages. They already had failed to keep their words for many times. HPI went bankrupt for a few times in recent five years and their layaway plan never worked. In addition, there’s something everyone should know.-HPI’s behavior might have resulted in the bankrupt of many manufacturers which worked with them. That cannot be forgiven.

HPI, the Arrogant!

HPI told us,” work with them or the chance of getting the money back would be minimized.”  We, as the creditor, could not tolerate the bad attitude. As for Ripmax, we like to tell them,” Don’t play the game if you can’t afford it.” The history of HPI repeats again. This is not the first bankrupt of HPI. You lost the trust in the industry already. Don’t buy the company and tell your manufacturers that you need a installment because you are short of money.  How can people trust you?  Everyone knows that it takes money to keep the brand. I suggest you think clearly if you really want to keep HPI. The brand might be dead already.

SOAR will take over KRP (Manufacturer of HPI)

Our final offer is as below:

Hopefully, the debt can be clear in three days. We certainly understand that directly requesting Ripmax to pay is not an option because you have financial problem resulting from HPI. If the debt is not clear, the staff of SOAR will take over KRP next week. SOAR will gather the creditors of HPI KRP and, by the authorization of all, we will take action to save ourselves. SOAR plan to take over the molds and the inventory of KRP.

Legal Manufacturing and sales of SOAR

We will cancel the logo of HPI, modify all the copyrighted products and make global sales with the name SOAR. If we take this step, with the authorization of other creditors, we will pay off the debt on KRP all at once.

Last Chance for HPI

To HPI and Ripmax

The only option for you is to pay in three days or new owner might have financial problems. Soar might be said to be famous because of HPI, but you must realize how much we had paid for that.

To make a conclusion:

If the debt is not paid off in three days, SOAR will replace the logo of products and make sales ourselves instead of HPI. We will make sure to leave out the items of HPI copyrighted. There will be international lawyers ready to help our distributers and friends because many medias were threatened for reporting the story.

Lastly, to prevent from being replaced by SOAR, the only option for HPI is “To Pay Off the Debt at Once!”

 

SOAR International-law conselor

(Any legal issue, please contact)

Yu Chuan Law Firm

+886 4 23712180

Officually Announced by

SOARSEIKI .co.,LTD

CEO

Didian HO


HPI Racing’s statement:

“Mr Ho, is a 3rd party supplier to KRP, a Chinese factory that supplies some of the products for HPI Racing. This factory is unfortunately in financial difficulty. We understand and sympathise with the stress this has placed on all of its employees and its sub suppliers, like Mr Ho. HPI Racing are and will continue to work with the owner of KRP to find a solution for the benefit of both its employees and all of its suppliers. We would urge Mr Ho to be patient while we conclude those discussions with KRP.”


SOAR’s Response – July 29th

We are very sad to see the announcement of HPI on Neo. Why does a famous leading brand keep on lying?

We want to clearly claim again that the debt has nothing to do with Ripmax for they are just the new owner. The debt is not on them. All they want are factories of HPI.

 

HPI and KRP belong to the same boss. That can be confirmed on the official site of Chinese government.

Like the pictures I post which says  KRP is registered under the name of HPI former CEO  Mr.tatsuro watanate.

Are you negotiating with yourself?

Please don’t go deeper into the swamp of mistake.

What you announced does’t match the official data from Chinese government.

The more you talk; the more people understand your behavior and motivation.

Don’t lose your last chance.

 

Unlike what is described in HPI announcement, Soar made all the important CNC parts of HPI. NOT just “SOME” parts.

We have the meeting minutes and the design sheets of all related products which we will not show for now out of business concern.

 

In addition, what we offered to help HPI in their difficult time was far more than that.

We have all the customs documents of goods traffic to HPI KRP.

Many of the products are not made by SOAR, but we promised to help HPI in purchasing and transportation to HPI KRP.

There were too many of them, such as engines, screws, stickers and aluminium materials…

 

“HPI! Don’t make mistake over and over again!”

I gave you an year already.

What SOAR will certainly win this fight?

I did help HPI in the most difficult time.

To improve the unstable quality of CNC parts made by HPI KRP, SOAR invested 2 million US dollars on inquiring custom-made machines to fit HPI’s need. Of course. Those are our investment and not part of the debt.

All the evidence of SOAR helping HPI were processed by Taiwanese government with official stamps on them.

 

We easily proved with government official data that HPI and KRP has the same boss.

HPI! Please stop twisting the truth because it’s not the proper method to save an enterprise.

 

SOAR will never release any related proof or photos unless HPI tell twist stories or blacken our announcement.

Lastly, we want to advise HPI to bravely face the debt.

You understand HPI product very well and, without the help of SOAR, you need to start everything all over again ( like establishing a new company.) Please consider this carefully.

As for the new buyer, once the debt is clear before due date, we will help the new HPI right away.

So it’s all up to you now.

Good Luck,

 

SOAR International-law conselor

(Any legal issue, please contact)

Yu Chuan Law Firm

+886 4 23712180

Officually Announced by

SOARSEIKI .co.,LTD

CEO

Didian HO


We will keep you informed of changing situation as soon as possible.