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Challenger Syndicates (In Liquidation)

Kamper

By Kamper
in General Boating

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PaddingtonBear Rising Star

PaddingtonBear

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I am so glad about this - it means, I hope that the nasty, stuck up pr**ks that compose the owners Stealth 'bomber' fleet will no longer be around to tow water skiers up and down the cut!!. I do however have sympathy for anyone who suffers losses due to the inadequacy of British Company Law and the abilities of accountants and lawyers to assist in this 'flimflamery'

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carlt Veteran II

carlt

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I am so glad about this - it means, I hope that the nasty, stuck up pr**ks that compose the owners Stealth 'bomber' fleet will no longer be around to tow water skiers up and down the cut!!. I do however have sympathy for anyone who suffers losses due to the inadequacy of British Company Law and the abilities of accountants and lawyers to assist in this 'flimflamery'

 

If you're going to generalise you need to get your facts straight. The Stealth fleet are hire boats, not shared-ownership. Every other time a stealth boat passes, it will have a different crew.

Edited by carlt
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gaggle Influencer

gaggle

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I am so glad about this - it means, I hope that the nasty, stuck up pr**ks that compose the owners Stealth 'bomber' fleet will no longer be around to tow water skiers up and down the cut!!. I do however have sympathy for anyone who suffers losses due to the inadequacy of British Company Law and the abilities of accountants and lawyers to assist in this 'flimflamery'

 

 

is this post saying you are one of them people that run out of a boat cabin screaming "slow down slow down".

got to say i have never seen a water skier on any canal ,sounds fun though.

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Chris-B Experienced

Chris-B

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is this post saying you are one of them people that run out of a boat cabin screaming "slow down slow down".

got to say i have never seen a water skier on any canal ,sounds fun though.

 

Jet Skies are better and more upmarket for our local trolls

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carlt Veteran II

carlt

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is this post saying you are one of them people that run out of a boat cabin screaming "slow down slow down".

got to say i have never seen a water skier on any canal ,sounds fun though.

Ta daa!

 

clicky

 

Ok it's in america but the BCN one didn't show up on my first search.

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Hobbler Collaborator

Hobbler

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I am so glad about this - it means, I hope that the nasty, stuck up pr**ks that compose the owners Stealth 'bomber' fleet will no longer be around to tow water skiers up and down the cut!!. I do however have sympathy for anyone who suffers losses due to the inadequacy of British Company Law and the abilities of accountants and lawyers to assist in this 'flimflamery'

 

Personally I have not experienced any problems with hirers from the Challenger Stealth fleet however it has been a different matter as far as the Challenger Shared ownership boats were concerned.

It was strange as to how this group of owners appeared to attract a particularly arrogant and self centred group to become shareholders . I met quite a few last year and although there were one or two who went to great trouble to explain they we were not like the majority , on the whole the others could not care less about other canal users and went to great lengths to show how superior they thought they were.

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carlt Veteran II

carlt

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It's funny how different share fleets attract criticism (who else has heard them called challenged, moanerships, analtime, etc.) but, in my experience, they are no better or worse than any other group of boaters. Good and bad in every bunch (except that tupperware mob, of course).

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gralyn Collaborator

gralyn

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I am so glad about this - it means, I hope that the nasty, stuck up pr**ks that compose the owners Stealth 'bomber' fleet will no longer be around to tow water skiers up and down the cut!!. I do however have sympathy for anyone who suffers losses due to the inadequacy of British Company Law and the abilities of accountants and lawyers to assist in this 'flimflamery'

 

Unfortunately it is the Management Company that is going out of Business. The boats are owned by the people you see crewing them usually 1 twelveth each. They will be looking haggered as they will have to do all the arrangeing themselves now. There may be one or more multiples of 12 that have paid for a new boat and will not be getting it.

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Kamper Gongoozler

Kamper

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Posted (edited)
Unfortunately it is the Management Company that is going out of Business. The boats are owned by the people you see crewing them usually 1 twelveth each. They will be looking haggered as they will have to do all the arrangeing themselves now. There may be one or more multiples of 12 that have paid for a new boat and will not be getting it.

 

Interesting how people have different perspectives. (edited)

 

Its interesting that you believe that the boats are owned by people. I spoke to Challengers representatives in Spain this morning, they seam to be under the impression that the boats are owned by Challenger, and fair game for the receivers. (edited) someone gave them that impression, I wonder who that might have been.

 

(edited)

 

Interesting I asked Mr Rimmer this very question, what would happen in the case of recievership. I didn't just ask him politely or casually, I asked in writing, and he refused to answer. My solicitors asked in writing, and he refused to answer, we took out a court action to try to force disclosure, on the day papers where submitted to the court, he filed for liquidation.

 

I do have a signed statement from Mr Rimmer's solicitors that in the case of my boat, that Challenger does not own the boat, it has no interest in the boat, other than to provide management services, and that it belongs 100% to the syndicate. Some time soon I'll get to find out if thats actually the case.

Edited by Keeping Up
Removed comments which could potentially be regarded as libellous
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Hobbler Collaborator

Hobbler

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is this post saying you are one of them people that run out of a boat cabin screaming "slow down slow down".

got to say i have never seen a water skier on any canal ,sounds fun though.

 

 

It does not happen often but it is possible to get done for speeding on a canal . When I was a Bridgeman on the Gloucester and Sharpness Canal I got a telephone call from one of the other bridges to say that a "tupperware" was coming down rather fast . My mate on the next bridge and I timed it between bridges and what should have taken around 18 minutes at the maximum speed under the speed limit rules this boat did in 6 minutes . Five boats were damaged and two people got hurt as a result of the wash he created .

The whole matter went to court and the owner received a fine of £400 plus £2000 costs awarded against him if I remember correctly.

His excuse I heard was that he was trying to make the last locking at Sharpness but had spent too long in the pub.

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DHutch Veteran II

DHutchDonate to Canal World

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Personally I have not experienced any problems with hirers from the Challenger Stealth fleet however it has been a different matter as far as the Challenger Shared ownership boats were concerned.

It was strange as to how this group of owners appeared to attract a particularly arrogant and self centred group to become shareholders ...

I have to admit ive also not had problems with challenger stealth boats. Infact ive not really had any problems with challeger boats at all. But that may simply be because ive never actaully talked to any of them. And so far managed to miss all of them.

- I do like playing challenger bingo however. And for that reason allone it seams a shame to loose them!

 

 

Daniel

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Chris-B Experienced

Chris-B

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Very interestng to note that Mr Rimmer was also responsible for organising the Inland waterways exhibition at this years Exel boat show !! ( sources BMF)

Makes you fink !!!

Edited by Baldock
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Hobbler Collaborator

Hobbler

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Very interestng to note that Mr Rimmer was also responsible for organising the Inland waterways exhibition at this years Exel boat show !! ( sources BMF)

Makes you fink !!!

 

 

I understand that he is also sponsoring the restoration and operation of the ex GU working boat Barnet . Wonder where it leaves that ?

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Kamper Gongoozler

Kamper

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Please be careful how you phrase things in this thread, as no doubt there will be a great deal of legal action following this event.

 

Why do you think that there will be a great deal of legal action ?

 

It seams to me that the only time there's a need for legal action, is if there's been a breech of contract, or a case of misrepresentation, or out and out fraud. Apart from isolated commercial disputes, there is no cause to suppose that there are more widespread problems.

 

It seams quite straight forward really. Challenger are a management company, and they are no longer trading. Its kind of like finding out that the garage where you take your car for an MOT is no longer in business, its a bit inconvenient, but you find another garage. Current owners have a number of choices, other more successful shared ownership companies are no doubt happy to take on management, Andrew Barton is pitching for business (although why you'd wish to trust the operations director who was at least partially responsible for Challengers failure is perhaps beyond me), and there are private individuals who would no doubt be happy to take on responsibility for maintenance. If you want to sell a share, Im sure Philip

at boatshare.co.uk would be happy to oblige. All in all Challengers demise is a great opportunity to look forwards, and fix the mistakes of the past.

 

There might be cases where challenger owns unused shares, and they of course would fall to the liquidators to dispose of at the best possible price. Canal Boat shares are hardly a liquid market, and it may well be the liquidator sells them for a song, in fact, I'll quite happily buy as many as he has available if the price is right.

 

Perhaps you are suggesting that it will be the ex directors of Challenger who are taking legal action, but if so, against who and for what reasons ?

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Paul H Rising Star

Paul H

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The company predates shared ownership boats. They were established as a hire company and got on the share bandwagon when that took off around 1990...

 

I always believed that they started as a shared ownership company and only later diversified in to hire.

 

Of course Mr Rimmer set up the original Black Prince company in the 1970s (which went bust) and was involved in a multi-base hire operation under a variety of names on the Avon and Severn (Fenmatch comes to mind) in the 1980s which also went bust.

 

So I think he'll survive. He and his wife were on a house makeover programme a couple of years back and it looked as if he had done very nicely out of his chequered business career.

 

Does anyone know who was building the lastest Challenger boats and where they stand?

 

Paul

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