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Nottingham boat sales

muddywaters

By muddywaters
in General Boating

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Slimboat Gongoozler

Slimboat

Posted
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AFAIK it is on hard standing. Other than the potential hassle of entering the premises and arranging cranage - what are any other implications?

 

I will speak to the receivers in the morning and ascertain the state of play.

I would imagine once the receivers are happy, the problem will be moving it to the water and then lifting it in! You'll need a very big crane which I presume is down to you to arrange and pay for.

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Alan de Enfield Veteran II

Alan de Enfield

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To be honest, I doubt you'd get a crane with a long enough reach / lift capacity (you could but it would be one of those ones that comes on three trucks with Police escorts and is assembled on site) to get it from the 'yard' into the Trent, from memory its a relatively huge distance (maybe 30 metres+) - not only going over the edge of the yard, but out over the bank, and then the pontoons. I think (I may be wrong) it would need lifting from the yard and onto a truck.

 

I dont know if the google map will show up correctly, but Nottm Boat Sales is where the artc-trailers are shown.

 

https://maps.google.co.uk/maps?hl=en&tab=wl

 

Nope - didnt work !!

Edited by Alan de Enfield
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Alan de Enfield Veteran II

Alan de Enfield

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The only ones I saw arrive by water stayed on the water, the ones that arrived by truck stayed in the yard.

 

Maybe they had arrangements with Nottm Castle Marina (its only a mile away) and they used their slip/tractor/trailer for surveys etc.

 

I obviously was only there on occasions so maybe they had other arrangements - maybe the liquidators can advise.

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national velvet Engager

national velvet

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I think NBS has been skating on thin ice for some time. I know several people who have sold boats through them. They had a devil of a job to get the money from them once the boat had been sold. One went and sat in their office and refused to move until they paid him, because after numerous phone calls they did not pay up. Sounds like they had cash flow problems.

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muddywaters Rising Star

muddywaters

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I was going to say the same. No comfort to the purchaser of course, but I think if the vendor hasn't received the money (less the broker's commission) then the boat is still legally his. But the vendor's problem is now to obtain possession.

And there was me buying through a brokers because I thought I would have some protection.

The brokers I went through had a customer trust account supposedly unconnected with the business so that if anything did go wrong your money was protected

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nickfryer Collaborator

nickfryer

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I think NBS has been skating on thin ice for some time. I know several people who have sold boats through them. They had a devil of a job to get the money from them once the boat had been sold. One went and sat in their office and refused to move until they paid him, because after numerous phone calls they did not pay up. Sounds like they had cash flow problems.

I had to go and sit in the office to get my money last year after failed promises to send a cheque after my boat sale .

 

They couriered it to me the following day after I said I would be back every day until I got paid.

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lampini Proficient

lampini

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And there was me buying through a brokers because I thought I would have some protection.

The brokers I went through had a customer trust account supposedly unconnected with the business so that if anything did go wrong your money was protected

So can anyone tell me how bona fide this is? Will this "customer "trust account" remain separate should the brokerage go t*ts up?

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Slimboat Gongoozler

Slimboat

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So can anyone tell me how bona fide this is? Will this "customer "trust account" remain separate should the brokerage go t*ts up?

AFAIK there is no trust account, any money seems to have been used to pay off the worst debts, the staff haven't been paid for months from what I've been lead to believe and suppliers are also owed thousands

So can anyone tell me how bona fide this is? Will this "customer "trust account" remain separate should the brokerage go t*ts up?

The brokerage has gone t*ts up! The receivers are in!

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lampini Proficient

lampini

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AFAIK there is no trust account, any money seems to have been used to pay off the worst debts, the staff haven't been paid for months from what I've been lead to believe and suppliers are also owed thousands

 

The brokerage has gone t*ts up! The receivers are in!

 

Sorry, this was more of a general question - didn't explain myself well - not enuff caffeine yet!

 

There are quite a few brokerages who boast these "safe" accounts - how CAN they be verified? And what protection - if any - is afforded by said "Trust" account (if it exists of course!) ?

 

We are hoping to buy in the next 2 years - it's a minefield! blink.png

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Alan de Enfield Veteran II

Alan de Enfield

Posted
Posted (edited)
nickfryer, on 28 Sept 2014 - 5:42 PM, said:nickfryer, on 28 Sept 2014 - 5:42 PM, said:

A friend of a friend who is waiting for his money on his boat sale has just been down to the Meadow Lane site and it is posted on the door with a number to call....

 

What a sorry state it looks like he may have lost all his money, many thousands.

 

 

The purchaser has paid his money many weeks ago and has the boat.

 

Who now is the Legal owner ? What a mess to sort out.

 

Feeling very sorry for them.

 

I have spoken with my Son who is an accountant and has, in the past, been appointed to keep several companies / groups running (that have gone into liquidation) until they can be closed or sold..

 

I'll send you a mesage with his recommendations.

Edited by Alan de Enfield
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Alanji Proficient

Alanji

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I bought my boat through NBS in 2012 and was very pleased with the service I received. Very sad to see they have gone under. I raised the possibility of liquidation after I had paid and before taking possession and Findlay admitted it was not a "ring fenced" client account so, unless things have changed, anyone owed money is likely to have to wait in line with the other unsecured creditors. Maybe there is a possibility of the liquidator agreeing they had a charge over a specific boat if an agreement had been signed? I ended up paying in person by debit card and taking immediate possession of the boat.
I think only one or two, if any, brokers operate a "ring fenced" client account.

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