​INDIAN MOTORCYCLE RECEIVERSHIP

In April of 1995, Sterling was appointed receiver in the action styled In Re: Indian Motorcycle Manufacturing, Inc. and Concerning United States of America, Civil Action No. 95-Z-777, United States District Court, District of Colorado. This receivership resolved forty years of litigation over the Indian motorcycle trademark, and as a result, Indian Motorcycles were manufactured in the United States for the first time in over forty-five years. At the time of Sterling’s appointment as receiver, many people believed the case was hopeless. The initial offer Sterling received for the receivership assets was $10,000. Ultimately, Sterling sold the assets for an estimated $120 million, of which $24 million was cash and the remainder was equity for the claimants in the Receivership Estate who wanted stock in Indian Motorcycle, dealerships for the claimants in the Receivership Estate who wanted Indian Motorcycle dealerships, and Indian Motorcycles for the claimants in the Receivership Estate who wanted Indian Motorcycles. Indian Motorcycle subsequently became financially distressed, but was purchased by Polaris and is now fully operational. The trademark work that Sterling performed as receiver survived throughout the more recent times of distress.