The 120 in the photos looks like it's just a long-cracked frame which has finally given way while in motion, perhaps with a minor crash involved but not necessarily. The forks look fine.
My 79 Jota came to me with a good 30-40deg bend in the forks (like twice the bend of the 81 Jota in the other thread presently) from a huge front end impact and the frame was bent but fine. With a new set of triple clamps and forks I kept riding it like that for another 15 years. I eventually got the full Dave Kellet treatment who was quite amused at the straightness or lack thereof!
The good thing about our old busses is that the frames are so solid that welding and repairing is comparatively easy. If anyone was motivated enough this one would be repairable assuming it's not on the insurance register of statutory write-offs. It may not make economic sense to do so but I'm sure it would be possible with enough skill and effort.
Probbly a parts bike now though. Should be a nice close-ratio gearbox in that one for your racebikes
@redax5 !