SANTA ANA — Kaama Marine Engineering Inc., a Costa Mesa maker of power systems for racing and ski boats, filed for bankruptcy liquidation this week--several months after shutting its doors and paying off its business debts.
Kaama closed after the death from cancer in January of founder Betty J. Cook, the only woman to ever have won national and international championships in offshore powerboat racing.
Cook, who was 70, began racing at the age of 50 after working as a researcher at the Massachusetts Institute of Technology and the Stanford Research Institute. She also worked in the presidential campaigns of John F. Kennedy and Robert F. Kennedy.
In its bankruptcy filing in Santa Ana, Kaama listed $9.7 million in liabilities and $165,000 in assets. But the liabilities do not represent debts to creditors or customers, said Stephen E. Smith, the lawyer handling the bankruptcy.