Rare Ferraris Seized from Businessman Luc Poirier Amid U.S. Buyer Dispute

Authorities recently seized four rare Ferraris from businessman Luc Poirier as part of a legal dispute with an American buyer. The luxurious vehicles, including a 1965 Ferrari 275 GTB, a 1985 Ferrari 288 GTO, a 1997 Ferrari F50, and a 2003 Ferrari Enzo, have been claimed by a California-based asset management firm.

Details of the Dispute

Located in La Prairie, south of Montreal, Poirier’s collection drew attention when a retrieval process was initiated by the firm Mister Mingo’s Speed Shop. The company had previously agreed to purchase the cars for approximately $25 million Canadian on January 8. However, Poirier later backed out of the deal, prompting the dispute.

Key Facts

• Claimed Vehicles:
  • Ferrari 275 GTB (1965)
  • Ferrari 288 GTO (1985)
  • Ferrari F50 (1997)
  • Ferrari Enzo (2003)
• Purchase Agreement: Established for $25 million on January 8.
• Location of Vehicles: La Prairie, Quebec.
• Legal Action: Filed by Mister Mingo’s Speed Shop to obtain possession.

Poirier’s Position

Poirier criticized the legal process, stating that the court system in Quebec is sluggish, often taking years to resolve such disputes. He expressed confidence in retaining ownership of the vehicles during that period.

In conversations with the potential buyer, Poirier cited complications regarding the transaction, particularly concerning tax implications from selling the cars. He indicated that his reluctance to proceed was linked to changing tax laws affecting dealer transactions.

Comments from the Businessman

Poirier conveyed his frustrations over the situation, noting his initial interest in selling the vehicles was influenced by financial needs. He remarked on the psychological aspects of wealth in negotiations, suggesting that ego plays a significant role in high-stakes transactions.

As the case unfolds in court, the outcome remains uncertain. However, the seizure has already drawn attention to the complexities of luxury car transactions and the potential for disputes in high-value sales.