What if ....
#1
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What if ....
... your car (or other item you have bought) is in the Dealers Compound awaiting repair/inspection and the Company goes bust - the Administrators seize all the assets, including your car of course.
You need to prove ownership, easy if a car (harder if it is something else), how long before the goods are returned? How do you get them back?
You need to prove ownership, easy if a car (harder if it is something else), how long before the goods are returned? How do you get them back?
#3
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Thread Starter
Maybe, but a receipt is no good if you go to the compound and find it locked up ... who do you contact? What if the goods have been removed? Maybe all you see is some dust and tumbleweeds .......
Would the Insurance pay out do you think?
Would the Insurance pay out do you think?
#7
I think if you bought something but not recieved it, then you become a creditor to the administator and hopfully you'll recover something. Don't quote me, but you are not the owner of something until the transaction is complete and the goods have been handed over.
With the car, you are the owner and have documentation to prove it, therefore it should be handed back as it was not an asset of the dealership.....logically....
With the car, you are the owner and have documentation to prove it, therefore it should be handed back as it was not an asset of the dealership.....logically....
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#13
Scooby Regular
Wasn't there a Ferrari "dealer" who ended up in this situation - had a load of cars on SOR and took the owners for a LOT of money (due to the cars being locked up when the company folded) - some of the cars were never recovered.
remember reading it on F-Chat. Scary stuff tbh.
remember reading it on F-Chat. Scary stuff tbh.
Last edited by ScoobyDoo555; 17 April 2013 at 06:07 PM.
#14
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Thread Starter
Well, yes, it is my Ferrari which was in the Dealers Compound.
Now I return, to see thw compound empty ... has it been stolen? Will the Insurance pay up?
Now I return, to see thw compound empty ... has it been stolen? Will the Insurance pay up?
#21
If they have gone bust its not a police matter. Even if you property has been removed - they are quite within their rights to do this.
This happens quite a bit - more often than people realise.
The general way to deal with it is to find out who the administrator is and write to them requesting your property back. In most cases, they return your goods pretty quickly once its established that you own it and not the company. Most of the time. In some cases, there is more too it and you might be in for a long, long wait. Depends on your exact situation.
This happens quite a bit - more often than people realise.
The general way to deal with it is to find out who the administrator is and write to them requesting your property back. In most cases, they return your goods pretty quickly once its established that you own it and not the company. Most of the time. In some cases, there is more too it and you might be in for a long, long wait. Depends on your exact situation.
#22
You need to be carefull and act quickly,two companies have gone under on me,one moved all the items out to there facility in ireland,and under terms of administration you cannot recover them from another country.Second company went under on me went to said company and stock checked all items remaining with the administrator who signed to say items where mine,had a letter from them two weeks later saying we cannot accept or deny your title claim and this is still on going from feb last year.
#25
It is one that I have not considered before Pete.
I don't know the law in this respect but I would have expected that the administrator would hang onto anything of value that comes into his possession.
I think that you have to make an appointment to see the man in charge and officially lay claim to your property in the hopes that he will allow you to recover it.
I wish you good luck anyway.
Les
I don't know the law in this respect but I would have expected that the administrator would hang onto anything of value that comes into his possession.
I think that you have to make an appointment to see the man in charge and officially lay claim to your property in the hopes that he will allow you to recover it.
I wish you good luck anyway.
Les
#26
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#27
IME it comes down to if its planned or not. A lot of companies plan to go under, and do it at the time that suits them the best - when this happens they use every trick in the book.
Its why I use main dealers only, and keep things as local as I can when using internet based suppliers - even if its a smidge more expnesive.
Its why I use main dealers only, and keep things as local as I can when using internet based suppliers - even if its a smidge more expnesive.
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