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Boat going boating on its own on the Trent...


frangar

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5 minutes ago, Naughty Cal said:

If someone is made bankrupt are their assets stripped to pay some of the debt owed?

 

Yes they are, or were last time I checked. But even bankruptcy has been watered down recently.

 

One big exception is the tools of the bankrupt's trade. These are not taken by the liquidator, so Mr Dunkley may still be responsible for the boat. 

 

On the other hand, as an undischarged bankrupt, there is nothing anyone can do to recover their losses if it turns out he was negligent in allowing it to slip the moorings and damage stuff. 

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1 minute ago, Mike the Boilerman said:

 

And if it turns out to be a bankrupt responsible, they will be out of luck!

 

 

Guess it depends who has instructed the recovery. If it is CRT that instructed it then I guess the bill will be footed by all you CRT licence holders.

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2 minutes ago, TheMenagerieAfloat said:

For the boat to be an asset (regardless of it being a tool of trade) would it have to have a positive value?  

All boats have some value - even if only scrap value.

 

In Bangor there is even a huge big 'Gin Palace' being cut up and disposed off after stripping out anything worthwhile.

It is a burnt out wreck but more than enough recoverable to justify the expense of getting rid of dozens of skips of GRP

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It has been suggested on another forum (Sealine Forum) that Newark Marina forced it aground with their tugs before it reached Newark Marina and caused more damage.

 

It is alleged that the Selby Michael has caused considerable damage in its lone journey downstream and it was run aground to stop it causing further. 

 

Hopefully the Selby Michael is suitably insured!

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31 minutes ago, Alan de Enfield said:

All boats have some value - even if only scrap value.

 

In Bangor there is even a huge big 'Gin Palace' being cut up and disposed off after stripping out anything worthwhile.

It is a burnt out wreck but more than enough recoverable to justify the expense of getting rid of dozens of skips of GRP

I thought some steel boats had negative scrap value at times? As in 'cost more to get it docked somewhere and take to bits than said bits are worth'?  

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4 minutes ago, TheMenagerieAfloat said:

I thought some steel boats had negative scrap value at times? As in 'cost more to get it docked somewhere and take to bits than said bits are worth'?  

But don't forget the engines etc etc.

 

But yes, a bare steel shell (already stripped) may cost more to have it cut up that the scrap value depends on the scrap prices 'on the day'.

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2 minutes ago, TheMenagerieAfloat said:

I thought some steel boats had negative scrap value at times? As in 'cost more to get it docked somewhere and take to bits than said bits are worth'?  

"Not worth the gas for the cutting torch" is a phrase I have often heard about boats past the end of their useful life.

 

Admittedly most of them then end up on eBay!

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7 minutes ago, TheMenagerieAfloat said:

I thought some steel boats had negative scrap value at times? As in 'cost more to get it docked somewhere and take to bits than said bits are worth'?  

It certainly can do. A friend of mine paid over three times what an old Dutch barge had cost him to have it cut up and taken away. 

It all depends on where it is, and what’s in it that’s considered hazardous.

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42 minutes ago, Naughty Cal said:

It has been suggested on another forum (Sealine Forum) that Newark Marina forced it aground with their tugs before it reached Newark Marina and caused more damage.

 

It is alleged that the Selby Michael has caused considerable damage in its lone journey downstream and it was run aground to stop it causing further. 

 

Hopefully the Selby Michael is suitably insured!

Of course when I suggested getting boats out amongst other things.... it wasnt a good idea .

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12 minutes ago, pearley said:

Newark Marina tugs have been busy.

They took the Castle Pub Barge downstream yesterday enroute to Hull for drydocking.

 

I wonder where they are going - we couldn't find anywhere in Hull or Grimsby that could lift us out (we are 23 foot beam). Even the offshore windfarm service Catamarans are only 19 feet.

We had to move all the way down to Plymouth to find someone that could lift us.

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