Although it is sad to see a local go it is how it goes. To much competition, no profit, shut down. I think this a smart move. Probably the best way to face facts.
perhaps not all the time , I have no idea with the ins and outs but if the guy can keep it going out sourcing and build it back is that wrong? just being nosy!!
Well, it could be that he found some cash to buy the assests that were liquidated and in some cases, the value returned to the creditors from liquidation coveres the outstanding debts.
Nothing against chinese boat builders, fiberglass isn't rocket science and a lot more forgiving than ali in any case. I had personally wondered why they build commodores in aus when they could probably make money if they made them in china instead.
Seems that every thing is now made in china,most of the European tools companies are now made in china,Penn reels,Made in china,also Abu Garcia.This was done to keep the costs down ,and ,as long as the quality is maintained,then I see no problem,But is it ?.In Australia we have the AS regulations,that items must meet certain standards,so I think this will apply to boats?but who knows,I know of some qaud bikes made in China that fell apart,I have bought electrical drills made there,Bosch & Ryoby,heaps of crap,but as long as the Austrlain standards are met and as long as the material is good then all should be ok.Lets face it,we make nothing in Australia any more,all is made overseas,as the cost of labour is to high, has any of you looked at the Great Wall utilities,around $25000. ok,the finish is not up to Toyota Hi-Lux but they are half the price?
could be as simple as a chinese boat company has arrived and offered the liquidators to buy the old boat moulds and equipment to take off shore and re-use , the liquidators are not worried as they are getting some cash in to cover costs of old debts as that is what they are paid to do and re imburse creditors . the old company owner could now be employed as a consultant with the new mould owners ..not great but thats how the system can work
Bingo, we have a winner. If it hadn't have happened then there would be no cash for creditors, wasnt much as it was. Not sure about andrew consulting, facebook looks like a bunch of chinese guys and a chinese guy posting about commo marine aust and their new setup over there, looks like an asian company got a good deal and bought out the name as well.
I actually did not wish to say the quality was poor with out having seen one ,but,if they are priced right and they met AS marine standads, I think they would be OK. but,we need to see them first, I certainly would not suggest any-one buy one without seeing it.
Gee that's an interesting report isn't it. While it will be devastating for every creditor, it was interesting to note that Danny Green was owed $91,000. I don't think I would want to be in that position.
funngames
Posts: 65
Date Joined: 15/05/12
Clever
Although it is sad to see a local go it is how it goes. To much competition, no profit, shut down. I think this a smart move. Probably the best way to face facts.
When you can't go wakeboarding go fishing!
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tot
Posts: 1162
Date Joined: 31/01/10
what would you rather happen
what would you rather happen to all the moulds?
did you miss out on getting some?
if they are able to make them with good quality is that bad?
why the complaint ? - just wondering (i have no affiliation)
Reverse cycle a/c supply and install - Ducted and wall splits
tot
Posts: 1162
Date Joined: 31/01/10
funngames
i agree! almost posted at the same time.
Reverse cycle a/c supply and install - Ducted and wall splits
sea-kem
Posts: 15021
Date Joined: 30/11/09
I thought that if a company
I thought that if a company is liquidated then all assets are frozen on the premises and sold off to pay creditors and staff. Something fishy here.
Love the West!
tot
Posts: 1162
Date Joined: 31/01/10
perhaps not all the time , I
perhaps not all the time , I have no idea with the ins and outs but if the guy can keep it going out sourcing and build it back is that wrong? just being nosy!!
Reverse cycle a/c supply and install - Ducted and wall splits
holth
Posts: 812
Date Joined: 09/10/06
You got to be mad buying a
You got to be mad buying a boat built in china. Check out the thread on Ausfish about the guy with the Noble boat . Dodgy to say the least.
till
Posts: 9358
Date Joined: 21/02/08
Well, it could be that he
Well, it could be that he found some cash to buy the assests that were liquidated and in some cases, the value returned to the creditors from liquidation coveres the outstanding debts.
Nothing against chinese boat builders, fiberglass isn't rocket science and a lot more forgiving than ali in any case. I had personally wondered why they build commodores in aus when they could probably make money if they made them in china instead.
wadetolley
Posts: 2258
Date Joined: 27/06/08
Excellent
Thanks for the post finfisher...Andrew looks like he's busy...maybe thats why his not returning my calls.
diver
Posts: 149
Date Joined: 25/09/08
Boat quality
Seems that every thing is now made in china,most of the European tools companies are now made in china,Penn reels,Made in china,also Abu Garcia.This was done to keep the costs down ,and ,as long as the quality is maintained,then I see no problem,But is it ?.In Australia we have the AS regulations,that items must meet certain standards,so I think this will apply to boats?but who knows,I know of some qaud bikes made in China that fell apart,I have bought electrical drills made there,Bosch & Ryoby,heaps of crap,but as long as the Austrlain standards are met and as long as the material is good then all should be ok.Lets face it,we make nothing in Australia any more,all is made overseas,as the cost of labour is to high, has any of you looked at the Great Wall utilities,around $25000. ok,the finish is not up to Toyota Hi-Lux but they are half the price?
sea-kem
Posts: 15021
Date Joined: 30/11/09
Sounds like you answered your
Sounds like you answered your own question they are crap.
Love the West!
just dhu it
Posts: 1081
Date Joined: 14/05/09
sale of assests
could be as simple as a chinese boat company has arrived and offered the liquidators to buy the old boat moulds and equipment to take off shore and re-use , the liquidators are not worried as they are getting some cash in to cover costs of old debts as that is what they are paid to do and re imburse creditors . the old company owner could now be employed as a consultant with the new mould owners ..not great but thats how the system can work
Adam Gallash
Posts: 15652
Date Joined: 29/11/05
Bingo
Bingo, we have a winner. If it hadn't have happened then there would be no cash for creditors, wasnt much as it was. Not sure about andrew consulting, facebook looks like a bunch of chinese guys and a chinese guy posting about commo marine aust and their new setup over there, looks like an asian company got a good deal and bought out the name as well.
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diver
Posts: 149
Date Joined: 25/09/08
Thanks Sea-kim
I actually did not wish to say the quality was poor with out having seen one ,but,if they are priced right and they met AS marine standads, I think they would be OK. but,we need to see them first, I certainly would not suggest any-one buy one without seeing it.
sea-kem
Posts: 15021
Date Joined: 30/11/09
Clarify, I meant thr Great
Clarify, I meant thr Great wall utes.
Love the West!
wadetolley
Posts: 2258
Date Joined: 27/06/08
This
This will explain a bit Finfisher..amazing what you can find on google http://www.hlbinsolvencywa.com.au/wp-content/uploads/2011/07/PACKET-7-Supp-report-to-creditors.pdf
mungus
Posts: 60
Date Joined: 15/03/11
Gee that's an interesting
Gee that's an interesting report isn't it. While it will be devastating for every creditor, it was interesting to note that Danny Green was owed $91,000. I don't think I would want to be in that position.