Heckler
Well-Known Member
story on the ferret on htv about a boat worth £33k going missing
Deva Marine on tele now
- Thread starter Heckler
- Start date
misterg
Well-Known Member
Just missed it - what happened?
Heckler
Well-Known Member
woman from south wales put a boat in part ex with company in conway, waiting for new boat, liquidation, part ex not there any more, recievers, ferret visits directors, merc shown, directors dont talk to ferret. you get the drift?
savageseadog
Well-Known Member
misterg
Well-Known Member
Bloody 'ell!!
I'd heard that the Chandlery had gone 'bump', but I didn't realise that the whole bloomin lot had gone.
Sounds like they went big-style. I would imagine getting anything out of the receivers is going to be heart-breakingly difficult.
I don't envy anyone involved.
Andy
I'd heard that the Chandlery had gone 'bump', but I didn't realise that the whole bloomin lot had gone.
Sounds like they went big-style. I would imagine getting anything out of the receivers is going to be heart-breakingly difficult.
I don't envy anyone involved.
Andy
Richard10002
Well-Known Member
If what the news report says is true, the directors must have been trading with knowledge that the company was insolvent... if so, I understand they should be held personally responsible for the debts and their personal assets should be seized.... They should also be charged with criminal offences... Having said that, I've never heard of this happening?
savageseadog
Well-Known Member
I know someone who's lost £160K on his part-ex boat.
graham
Well-Known Member
According to the "Ferret" they were taking part exchanges into their yard then using them as collateral (is that the right word?)to borrow more money against.
The receivers have commented that some of the boats in the yard have more than one person with good reason to believe they are the owners.
easy to be wise now but I guess the lesson is to pay a minimum deposit and dont hand over your part ex until the new boat is delivered.
The receivers have commented that some of the boats in the yard have more than one person with good reason to believe they are the owners.
easy to be wise now but I guess the lesson is to pay a minimum deposit and dont hand over your part ex until the new boat is delivered.
Captain_Chaos
Well-Known Member
One can only have sympathy for the people who have traded in boats.
It would be interesting to see the form of the agreements signed by customers giving their boats as deposit.
The people affected should band together and appoint a heavyweight lawyer to look at contractual position. As a matter of course and to protect their position, the banks will claim that everything is caught by their charge. Depending on what the customers signed, this may not be as clear cut as the banks would like them to think.
Although it may be of no comfort to those affected, the PKF wallah is right in that fraudulent trading can be tricky to prove, but wrongful trading is not so difficult and could still open the directors to personal liability.
Previous cases where directors have taken liberties with cash and property belonging to the public have resulted in banning orders and orders to make contributions from personal assets.
It would be interesting to see the form of the agreements signed by customers giving their boats as deposit.
The people affected should band together and appoint a heavyweight lawyer to look at contractual position. As a matter of course and to protect their position, the banks will claim that everything is caught by their charge. Depending on what the customers signed, this may not be as clear cut as the banks would like them to think.
Although it may be of no comfort to those affected, the PKF wallah is right in that fraudulent trading can be tricky to prove, but wrongful trading is not so difficult and could still open the directors to personal liability.
Previous cases where directors have taken liberties with cash and property belonging to the public have resulted in banning orders and orders to make contributions from personal assets.