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Old 15 May 2019, 15:20 (Ref:3903965)   #1
Richard Casto
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Rich Energy

So Rich Energy as a sponsor for Haas was a topic of conversation in the 2019 pre-season thread (and felt reviving that thread was the wrong place to talk about current events.) If I remember correctly, I don't think anyone had much good to say other than if you want to appear to be a big fish, F1 sponsorship is one way to go about it!

One topic of discuss was the impending court battle between Rich Energy and Whyte Bike regarding the "stag" logo. In which... both companies use nearly identical logos. I think to most anyone it's obvious that one copied it from the other. The question is who is in the wrong. Apparently Whyte won the case...

https://us.motorsport.com/f1/news/ha...-case/4388423/

Each company has their opinion on the ruling...

https://whyte.bike/pages/stag

https://twitter.com/rich_energy/stat...09045050388481

You can find the ruling here...

https://cdn.shopify.com/s/files/1/01...00235.pdf?2319

I have scanned through the ruling. There is one particularly juicy detail that falls in line with earlier commentary about nobody seeing Rich Energy product in stores, but yet Rich Energy talks about the quantities produced...

Quote:
For example, when Mr Wyand in cross-examination tried to understand his evidence about the sales figures of Rich Energy drinks, and put to him that he had been quoted in the press in February 2019 as saying that the First Defendant had produced 90 million cans, Mr Storey explained that it had produced 90 million cans, but had not yet filled and sold them.
In short... they have produced a bunch of empty cans and put their logo on an F1 car, but that might be about all. Well... at least some of them have been filled as you occasionally see people talking about having actually found the product.

I am not an attorney and the judgement document is large. But it sounds like Rich Energy (really Storey and his childhood friend who co-designed the logo) lost, there might (?) be an injunction against usage of the logo (remove from Haas???) and have lost their trademark on the logo (Rich has acquired a trademark on the copied logo)

It appears an appeal can be lodged, but Rich hasn't said if they will or will not do that.

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Old 15 May 2019, 17:13 (Ref:3903985)   #2
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So they have 90 million empty cans stashed somewhere? That's just plain bizarre....
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Old 15 May 2019, 17:26 (Ref:3903991)   #3
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Well, they might try an appeal, but based on the testimony and evidence given at the trial, I have strong doubts that it would be any more successful. The judge basically said that they were liars, and that they had tried to deceive the court with the evidence that they produced, trying to insinuate that it was produced in 2015, when, in fact, it had been concocted in 2018 after they were required to submit related documents.

One thing that crossed my mind is why, when Whyte's Bikes were represented in court by a QC (a leading (senior) barrister) and a junior barrister to assist, that Storey were only represented by a barrister that had not been appointed as a QC.

Noticeable also that the language used in the High Court for civil matters hasn't changed much since the 80s. Judges and barristers still like to sugar coat everything they say as if they were afraid of hurting anyone's feelings. The judge, in her way, was rather scathing about Storey's solicitors for being, at a minimum, discourteous, whilst Whyte's solicitor and barrister stopped short of saying that Storey had copied the Whyte logo.
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Old 15 May 2019, 18:02 (Ref:3903997)   #4
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This thing is more scammy than a 1990s Nigerian Prince with a Hotmail account. Haas due diligence process must be along the lines of "Well he said he's legit."
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Old 15 May 2019, 18:07 (Ref:3903999)   #5
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I presume that they have the syrup made up that would then be diluted (and carbonated if a fizzy product) to fill that many cans, but not actually have the physical cans.
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Old 15 May 2019, 19:19 (Ref:3904018)   #6
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How did Storey make his money?
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Old 15 May 2019, 19:21 (Ref:3904019)   #7
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Originally Posted by Akrapovic View Post
This thing is more scammy than a 1990s Nigerian Prince with a Hotmail account. Haas due diligence process must be along the lines of "Well he said he's legit."
I suspect the due diligence consisted of... Did the check clear?

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Originally Posted by ScotsBrutesFan View Post
I presume that they have the syrup made up that would then be diluted (and carbonated if a fizzy product) to fill that many cans, but not actually have the physical cans.
Hard to say. Based upon the quote it sounds like maybe the reverse. The thinking might have been that the cans don't go bad, so buy a large order and then fill and sell as needed. Not quite "just in time" manufacturing.

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Originally Posted by Aysedasi View Post
So they have 90 million empty cans stashed somewhere? That's just plain bizarre....
I put this together



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Old 15 May 2019, 20:28 (Ref:3904034)   #8
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I suspect the due diligence consisted of... Did the check clear?



But will the second one?.

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Old 16 May 2019, 06:15 (Ref:3904075)   #9
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Originally Posted by Mike Harte View Post

Noticeable also that the language used in the High Court for civil matters hasn't changed much since the 80s. Judges and barristers still like to sugar coat everything they say as if they were afraid of hurting anyone's feelings. The judge, in her way, was rather scathing about Storey's solicitors for being, at a minimum, discourteous, whilst Whyte's solicitor and barrister stopped short of saying that Storey had copied the Whyte logo.
[O/T]This got my attention. If you ever have the time have a look at this one: https://www.pinsentmasons.com/Docume...012-07-24.html Try to find the case transcripts they are quite humorous when discussing the complainant [/O/T]

On topic, I think we said before that the whole Rich Energy thing was somewhat suspicious.
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Old 16 May 2019, 07:25 (Ref:3904081)   #10
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How did Storey make his money?
Management company with F1 and other sportspeople and general PR work with F1 etc.
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Old 16 May 2019, 11:00 (Ref:3904099)   #11
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How did Storey make his money?
Selling bridges I imagine.
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Old 16 May 2019, 11:14 (Ref:3904101)   #12
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According to Companies House, William Storey classes himself as a computer consultant, and his co-director is a keep fit instructor. The other director who resigned in 2017 is a public house manager.

64% of Rich Energy Ltd shares are owned by Storey
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Old 16 May 2019, 11:55 (Ref:3904107)   #13
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More detail on the pretty scathing comments of the judge here:

https://jalopnik.com/haas-f1s-main-s...d-t-1834753571

One quote from the judge stood out particularly for me:

"He often did not answer questions directly, preferring to make speeches about his vision for his business or alternatively seeking to evade questions by speaking in generalities or in the third person plural. He only answered several questions when I intervened. He had a tendency to make impressive statements, which on further investigation or consideration were not quite what they seemed."
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Old 16 May 2019, 12:00 (Ref:3904109)   #14
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But will the second one?.

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I'm guessing Haas took ALL the money up front, trust but only as long as you can pay. I'm thinking before the year is out Haas will be applying for some kind of hardship allowance and removing all Rich Energy materials and back to the polished primer grey livery
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Old 16 May 2019, 14:16 (Ref:3904132)   #15
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The link from the Rich Energy site to amazon has a 24 pack of 250ml cans for 30 !!!

Oh the seller... Rich Energy themselves.
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