By Lily Bearings
©2004-2008
As with all counterfeit or re-labelled products, the legal obligation extends throughout the total chain of distribution.
In other words, bearing distributors big or small marketing fake or re-labelled bearings are jointly and severally involved with their producers in legal proceedings.
A case in point:
(1) NKE Steyr Austria have bearings made in India and China re-labelled then sold to distributors for consumer resale in high gloss packaging with the spin 'Made in Austria' first premium product.
(2) NKE Steyr Austria claim to manufacture bearings for planetary gears in wind turbine gearboxes, railway traction motor bearings and special types for world pump producers. All these bearings are imported from India and China packaged 'NKE Bearings Steyr Austria'
In these scenarios, the Re-labeller 'NKE' together with the distributor supplying to producers of wind turbine gearboxes, traction motors and Pumps could become jointly involved with any class action should the consumer with or without warranty decides to prosecute.
1 March 2009
Beware of Wash-up Involving Bankruptcy
It is interesting to note comments about the recent downfall of corporate institutions and their highflying executives.
These failed executives all have a common thread known as greed, made from their devious schemes to extract funding by foul and fraudulent means. These schemes become more apparent close to their final demise and appear in all newspapers.
However, criminal charges involving heavy jail sentences are inevitable to these highfliers for the sake of public scrutiny and in the name of Law.
The latest scheme coming from the Schaeffler family to avoid the inevitable loss of control, caused by the exact same greed, may involve criminal charges especially having prior convictions of 'Price fixing cartel' with their collaborator SKF and further allegations of counterfeit deception simply known as fraud.
And in the wash-up all executives from these companies are put on notice to provide statements or subpoenaed to Court during all Bankruptcy hearings.