WITHOUT PREJUDICE.....
Hi! All.
I guess Tony Renshaw must be physic(You've not got a broom tucked away somewhere
have you Tony ?)
I was talking about the "unfortunates" caught up in this debacle last night and
wondering when the news would begin to sink in. Over the last say 15 years I
consider I have "shares" in major construction and road works locally to the
tune of around =A3100,000 due to companies going bust on me, yet there was no
shortfall on my credit control. However this is the real world, world over.
By good fortune I managed to trade through every instance but these occurrences
slowly sap your endeavour to trade on a credit basis except with "blue chip"
companies. The general public only get to see these daylight robbery situations
when slime like Wilson surface, against which the only defence is not to "pay
up front" or to get some form of Bank Guarantee, especially for some of the
huge figures involved in this debacle. Generally you wouldn't advance that kind
of money without involving an HP back up or perhaps some form of legal securred
credit commitment from the vendor. This jerk has traded on the personal dreams
and enthusiasm of would be builders who due to that enthusiasm have let
down their defences. However he didn't do it entirely unaided he used the forced
conscience of those around him who needed some employment income to not blow
the whistle earlier and also let's not forget the obvious laxidaisical credit
control of the major creditor who enjoyed a vast experience of profitable trade
throughout the Europa history who will recover a major part of their loss
at the expense of unsecurred creditors. Not to mention the fees of the
Administrator
who seemingly has wasted lots of the Original Company records, not withstanding
their failure to sell the Company as a going concern and failure to recogonise
more realistic values of the demonstrator aircraft and the "Dutch Auction"
that went on.
It is Company Law that these records are retained in safe keeping for a period
of seven years.
May I suggest the possibility of credit card purchases with the new company and
with it the posibility of insurance protection of the goods failing to
materialise?
The use of "middle" men or a handling company would be no protection to an
unsuspecting
purchaser( might be a similar robber).
IMHO the most secure way of trading is to collect from source and pay at the
time
of collection. Yes, it makes for lots of hassle for overseas clients but it
is an issue that has to be evaluated. Then there's established Letter of Credit
procedure and Bank Guarantees, Shipping Bills of Laden, Transfer of Ownership
etc.
On the question of the unfortunate folks who have been robbed, it occurs to me
that perhaps there are many unused parts with existing builders who have
completed
or abandoned their project.
For instance I have a complete Mono Wheel main gear suspension available which
I would gladly make available to any organised scheme that would ensure it went
to a useful purpose for the benefit of someone who finds them selves in the
loss predicament.
Regards
Bob Harrison G-PTAG
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