Nottingham Boat Sales

[PaulD]

Article in the Nottingham Evening Post today about the trial of David Shakespeare at Nottingham Boat Sales.

 

https://www.nottinghampost.com/news/local-news/jailed-boat-salesman-blamed-flooding-1518137

 

Apologies if already posted somewhere.

 

 

[Alan de Enfield]

I recently went down Meadow Lane to the Cattle Market (Anchor Supplies) & wondered what had happened after the arrest. No news posted for 'years'.

 

One or two members of this forum were affected (lost boats)

Edited May 1, 2018 by Alan de Enfield

[Mr Adagio]

We were lucky to have bought our boat when Nottingham Boat Sales were still trading honestly at Castle Marina in 2013. They were in the process of moving when we left having completing our purchase.

 

James Shakespeare, David’s brother, was dealing with us and all went smoothly for us. Hopefully he hasn’t been a party to the deception.

[mrsmelly]

We watched all this unfold from the wheelhouse of The Nottingham Princess that I skippered at the time. The usual tell tale signs of boats suddenly being craned off hardstanding on to lorrys and being driven off. Always bad news and some of these people will never recover financialy  from it.

[David Mack]

So if the broker took the money off the buyer, but never handed it over (less the brokerage  fee) to the seller, who does the boat belong to?

[Alan de Enfield]

32 minutes ago, David Mack said:

So if the broker took the money off the buyer, but never handed it over (less the brokerage  fee) to the seller, who does the boat belong to?

I may be wrong, but, I believe, if a thief sells stolen goods, the ownership of the goods remains with the 'original owner'.

The 'new owner' then takes the intermediary (thief) to court to reclaim the sums paid.

[David Mack]

But in this case the broker is an intermediary in the sale which is directly between vendor and buyer. Would he be deemed to have stolen the boat from the vendor, making the vendor still the legal owner? Or is the buyer the rightful purchaser and legal owner, with the proceeds of sale having been stolen from the vendor?

[Alan de Enfield]

9 minutes ago, David Mack said:

But in this case the broker is an intermediary in the sale which is directly between vendor and buyer. Would he be deemed to have stolen the boat from the vendor, making the vendor still the legal owner? Or is the buyer the rightful purchaser and legal owner, with the proceeds of sale having been stolen from the vendor?

I don't know (but its cold, windy and raining so lets pass the time)

 

"As the owner did not receive any payment he must still be the owner, so the boat is his".

[KevMc]

10 minutes ago, Alan de Enfield said:

I don't know (but its cold, windy and raining so lets pass the time)

 

"As the owner did not receive any payment he must still be the owner, so the boat is his".

I would have though that because the broker has a contract with the seller to act as their agent that the buyer is protected .... one good reason for buying from a broker. The broker has breached the contract with the seller and as such the seller has to take action to recoup the proceeds of the sale.... but taking advice from me is risky at best.

 

[Alan de Enfield]

11 minutes ago, KevMc said:

I would have though that because the broker has a contract with the seller to act as their agent that the buyer is protected .... one good reason for buying from a broker. The broker has breached the contract with the seller and as such the seller has to take action to recoup the proceeds of the sale.... but taking advice from me is risky at best.

 

One good reason to buy from a broker ?

Surely buying 1 to 1 (Seller - Buyer) means that you hand over the cash, get the keys and cruise off into the sunset.

 

You thoughts look to be correct.

 

Found this :

 

Once an effective transfer of ownership has taken place, evidenced by the handing over of the Bill of Sale as receipt for the purchase money, the Buyer is then the owner of the boat.  Any dispute the Seller has over money will be between the Seller and broker. 

[Ray T]

There is also the interesting case where Ed Rimmer sold at least one of the now ex Challenger fleet to three different people. If I remember correctly a court decided that the first buyer was now the legal owner. The others having to sue Mr Rimmer to get their money back.

Edited May 2, 2018 by Ray T