Easy come, easy go huh - another Sydney Skoda dealer goooone?

[RSOK]

News Alert: Top Sydney Dealership Bankrupt? | Car Advice | Reviews

Rick Damelian insolvent?

[Jake02]

I just read that too... That's what happens when you only sell one major-selling brand (Honda)! Come to think of it, has anyone on here actually bought a Skoda from Rick Damelian?

[Inego]

I just read that too... That's what happens when you only sell one major-selling brand (Honda)! Come to think of it, has anyone on here actually bought a Skoda from Rick Damelian?

Not that I know. I've only service and parts.

But it is/was pretty convenient for servicing ( better than Burwood), so I hope someone else in the inner west picks up Skoda if they're gone....

[brad]

I just read that too... That's what happens when you only sell one major-selling brand (Honda)! Come to think of it, has anyone on here actually bought a Skoda from Rick Damelian?

Did Damelians have Subaru for a while? And Saab (when they were popular). A few others too? He used to sell lots of Suzukis from there back in the GTI days.

I almost bought a Saab kombi coupe off them in 1997. Dodged a bullet there - ended up with a U13 Bluebird. Phew!

[wai]

If the dealership has gone under, there is a fair chance that there will be quite a few buyers who have paid a deposit and are awaiting delivery of their vehicles. As is usual in these cases, those who have paid deposits are unsecured creditors and so the liquidator considers the deposits paid as property of the company being liquidated. How much those making the deposits will get back will depend on what is left over after the secured creditors have picked over the bones.

I have been caught up in the liquidation of a client (I am a Consulting Engineer) and lost close on $10,000. A colleague of mine manufactured a machine that cost over $100,000 and delivered it just one day before the liquidators moved in. It is now over 10 years since that, and he has not seen one cent for the machine. As the machine was inside the "buyer's fence", the liquidator considered it to be company property.

If the business is sold, it will be sold minus debts so those who have paid deposits will still miss out.

[Darth]

"Unconfirmed reports suggest" and this is written on a Blog website with no ties to any of the major media companies in Australia. Hmmm.

At 10am this morning, Rick Damelian Pty Limited et al (ie the entire automotive group) was placed in receivership.

Source: Rick Damelian Honda.

[brad]

. A colleague of mine manufactured a machine that cost over $100,000 and delivered it just one day before the liquidators moved in. It is now over 10 years since that, and he has not seen one cent for the machine. As the machine was inside the "buyer's fence", the liquidator considered it to be company property.

My previous employer had a similar issue with one of our vendors & they went belly up the day before delivery of an engine hoist/dolly/transporter thingy was due. We had to go to the liquidators auction to buy a piece of equipment that we'd already paid 80% of the cost for. In the end it wasn't too bad as we were the only people in AUS that had any use for the item & we paid 40% of the contract price (ie: it cost us 20% more than we had budgeted). To add insult to the whole thing, the equipment was a POS & never worked as advertised & we flogged it of to some other poor sod after years of trying to get it to work right.

[VAG newbie]

That's sad. Even as a major brand, Honda has been suffering this year and is almost kicked out as the top 10! All the other brand it sells, other than Suzuki that actually sells cars, what do we have? Alpha Romeo? Fiat? Renault? Citroën? Yeah, it's only a matter of time.

Even if they still sell Sabb won't help....

Hmm... Let's see my dealer, he sells Ford and VW as well as Renault, I should be OK.....

[Inego]

If the dealership has gone under, there is a fair chance that there will be quite a few buyers who have paid a deposit and are awaiting delivery of their vehicles.

AAP is reporting that the receivers will be negotiating with manufacturers/impoerters regarding delivery of orders where deposits have been taken. Funnily enough, Skoda isn't mentioned as a Damelian brand in the reporting.

Looks like I need to find yet another place for servicing.....

[Darth]

If the dealership has gone under, there is a fair chance that there will be quite a few buyers who have paid a deposit and are awaiting delivery of their vehicles. As is usual in these cases, those who have paid deposits are unsecured creditors and so the liquidator considers the deposits paid as property of the company being liquidated. How much those making the deposits will get back will depend on what is left over after the secured creditors have picked over the bones.

I have been caught up in the liquidation of a client (I am a Consulting Engineer) and lost close on $10,000. A colleague of mine manufactured a machine that cost over $100,000 and delivered it just one day before the liquidators moved in. It is now over 10 years since that, and he has not seen one cent for the machine. As the machine was inside the "buyer's fence", the liquidator considered it to be company property.

If the business is sold, it will be sold minus debts so those who have paid deposits will still miss out.

Always best to make any pre-payments with the notation on the cheque and/or contract as being:

To XXXX XXXX on trust for ME ME ME.

That way the company only has custody of the funds, with all of the obligations of a trustee to hold the funds for the beneficiary.