A group of investors received court approval in July to purchase the assets and is in the process of reopening. But the new company won’t get the right to use the Nash name — which the Basketball Hall of Fame point guard tried, and failed, to have removed from the business starting in 2016.
Nash hasn’t been involved with SNFW as a shareholder or director since 2014. He launched a legal challenge four years ago to force the company to stop using his name in its gyms, but a court ruled the licensing agreement was valid. Smith was also CEO of the bankrupt company. He and Mastrov are listed as directors of FW Fitness. Nash didn’t respond to requests for comment.
So the same CEO who went bankrupt with liabilities of 53 millions can start a new company with himself as CEO and buy the assets of the bankrupt company for 9 million? Sounds legit