Trusty Motor Boats

ontheplane said:
Firstly - I am so sorry to hear about this, and feel for anyone who may lose a lot of money over this.

I do feel that enough is enough however and the British Marine Federation now HAVE to step up and help the people who've lost their money.

Following all the issues with Trader, Trusty, Sealine, and so on, I would NEVER now (whether I had the money or not) buy a new boat that is to be built. A stock boat yes perhaps, but new? No.

No matter how rich you are, no-one wants to lose 150-200k just because a company you placed your business with goes bust.

The Directors should, if they had a decent bone in their body, have called all purchasers and told them that the company was going to fold, and to come and get what was built and paid for - but they didn't and now good people have lost a lot of money - ruinous for some I am sure.

Unless the Marine industry bring in some sort of industry wide insurance against this, to protect purchasers, then the only way this will ever be sorted out will be if buyers simply stop buying new-build boats.

I am sure many will come on and say there is nothing wrong with the current system and there is no need for regulation - but this is clearly not the case!
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Agree, it has put me off buying new or at least made me very cautious.
 
ontheplane said:
Unless the Marine industry bring in some sort of industry wide insurance against this, to protect purchasers, then the only way this will ever be sorted out will be if buyers simply stop buying new-build boats.

I am sure many will come on and say there is nothing wrong with the current system and there is no need for regulation - but this is clearly not the case!
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Agree entirely. I've been buying used boats for years and whilst I've toyed many times with the idea of buying a new boat, part of the reason I haven't so far is the fear of the builder going bust and having to fight for ownership of a part built boat and bearing the extra cost of completing it. I am surprised that the BMF doesn't already have such an insurance scheme in place as I would have thought it would be an excellent marketing tool to attract people into buying new boats. I fear it is going to take a really big builder to go bust before the BMF is stirred into action on this. The same also goes for buying and selling used boats through brokers, the risks of which could be covered by an appropriate industry insurance scheme
 
Deleted User said:
Agree entirely. I've been buying used boats for years and whilst I've toyed many times with the idea of buying a new boat, part of the reason I haven't so far is the fear of the builder going bust and having to fight for ownership of a part built boat and bearing the extra cost of completing it. I am surprised that the BMF doesn't already have such an insurance scheme in place as I would have thought it would be an excellent marketing tool to attract people into buying new boats. I fear it is going to take a really big builder to go bust before the BMF is stirred into action on this. The same also goes for buying and selling used boats through brokers, the risks of which could be covered by an appropriate industry insurance scheme
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It would be relatively easy for a large manufacturer to arrange a surety bond, the construction sector has had these for years and they work well. The reason they do not exist in the Leisure Marine sector is either that there is no appetite from the consumer or that the major players are not in a fit state regarding their books and ability to assure the bond obligor; probably a combination of the two.

These bonds are relatively inexpensive, between 1 and 2 points but as I have said, the contractors books would be investigated thoroughly...

For me, I would not mind subsidising the cost through a higher ticket price if it were to secure absolute security in terms of the deal...

It really is wrenching to hear of people losing their businesses and careers and equally awful to hear of owners losing their boats/cash.
 
Thanks to every one for their advice and kind words of support. It's such a relief to know that Windboats have been able to obtain the moulds and tooling for the T23 & T28 and as a result we may see our boat finished. Windboats have been very supportive to us and we are very greatful for that.

The BMF contract does what it says on the tin i.e. when Trusty folded we owned up to the stage we had paid for. However, just exactly what you do with a huge "plastic kit" that needs finishing is a vexed question and, from that point of view, it is useless. The "kit" has little intrinsic value, fundamentally is worthless and, unless you have the moulds and tools, is not able to be finished. Luckily our "kit" was not in the premises of the liquidated company and we did not have to "liberate" it and find storage.

As creditors we have some information as to why Trusty failed but this is confidential until the legal aspects are completed, this may take some time and I would not like to prejudice any future events. Suffice to say it's not as clear as some have speculated.

Again thanks to forum members for their support it's nice to know you are not on your own.
 
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I would like to echo the comments of Lewis 53 and thank everyone for their concern and good wishes.
The situation is not quite as straight forward as it would seem.
There are many things yet to consider, but we hope that our boat may be finished by Windboats, who have been very helpful and considerate to our situation.
 
I see that on the Trusty Boat Sales Twitter account that they have launched a T23. Does anyone know if this is one of the few boats partially built at Kidderminster and finished by Wind Boats? Any clues to the name of this boat? See https://twitter.com/trustyboat
 
MOB said:
I see that on the Trusty Boat Sales Twitter account that they have launched a T23. Does anyone know if this is one of the few boats partially built at Kidderminster and finished by Wind Boats? Any clues to the name of this boat? See https://twitter.com/trustyboat
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I've no idea whether this was one boat partially built or not, are you asking that question because you feel that would be detrimental to this particular boat? IMHO if it was one of those boats having looked over trusty boats in detail, especially the T28, and know the Hardy quality achieved this is a boat I would quite happy purchase.
 
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As you might gather from previous posts ours is the T28 that has now just about been completed by Windboats. As far as build quality is concerned I can only echo the comments of Firefly in that the build quality is of the highest standard. The boys (and girls) at Wroxham have worked very hard to build a high quality product that reflects what you would expect of the builders of Oyster Yachts and the Hardy range of boats. Folk who know a lot more than I do have commented to us on the attention to detail and efforts made to "get it right". I always thought Trusty at Kidderminster produced a good well made product but I think a Windboats Trusty is going to be even better (please note this is not a sales pitch ........ a brief look at the rest of this thread will reveal how "turbulent" getting to the point of our boat in the water has been).
 
Lewis 53 said:
As you might gather from previous posts ours is the T28 that has now just about been completed by Windboats. As far as build quality is concerned I can only echo the comments of Firefly in that the build quality is of the highest standard. The boys (and girls) at Wroxham have worked very hard to build a high quality product that reflects what you would expect of the builders of Oyster Yachts and the Hardy range of boats. Folk who know a lot more than I do have commented to us on the attention to detail and efforts made to "get it right". I always thought Trusty at Kidderminster produced a good well made product but I think a Windboats Trusty is going to be even better (please note this is not a sales pitch ........ a brief look at the rest of this thread will reveal how "turbulent" getting to the point of our boat in the water has been).
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you must be getting very excited, you will own a very fine boat indeed, IMO hand built British boats have a depth of quality that owners enjoy for years, if you have never owned such a boat you will be in for a treat.
 
Trusty T23 owners manual

Hello Trusty T23 owners,wherever you are.Purchased a Trusty 23 August 2014,just prior to the Trusty company going bust,felt slightly unnerved by this ,but it has not prevented us from enjoying a fine boat.
Does anybody have a spare Trusty 23 manual,or would be prepared to send me a photocopy,happy to pay.The previous owner lost the original copy.
Regards Steve Chapman
 
red49er said:
Hello Trusty T23 owners,wherever you are.Purchased a Trusty 23 August 2014,just prior to the Trusty company going bust,felt slightly unnerved by this ,but it has not prevented us from enjoying a fine boat.
Does anybody have a spare Trusty 23 manual,or would be prepared to send me a photocopy,happy to pay.The previous owner lost the original copy.
Regards Steve Chapman
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I can let you have a copy of mine. PM sent.
 
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