G
31 days ago

Who Wins Here ?

Graeme from Frankton

In life , we need to pay our bills . I'll start from that point . Occassionally , stuff happens , and most people work through things .

I was saddened to read in the weekend ( on Stuff ) about a guy called Lloyd Green . I don't know this guy by the way .

He owned a company called Great Barrier Rental Cars . He had owned it for 20 years . He refused to pay a mechanic somewhere between $5000-7000 , disputing the quality of the work . He was advised the day before it went to court that this guy was taking him to court -- apparently the papers were sent to his old address , which was his ex-wifes house . We can only guess what happened .

Anyway , the next day it went to court , he wasn't fully prepared , the Judge believed the other guy , or this Lloyd guy didn't put up a strong case , or whatever , and he was ordered to pay about $10,000 including the other guys legal fees . He lost .

He didn't/couldn't pay -- presumably part out of spite , but to be fair it does sound like he was short of money , so the Court ordered his business be liquidated . He was then ( at 57 ) out of work , with no income .

He committed suicide .

The business was liquidated . All the assets ( cars ) were sold . All secured creditors were paid . The liquidator billed $119,000 , but only got paid $78,000 as there was no more money . Unsecured creditors were $50,000 ( presumably including the $10k court ordered debt ) , and the IRD $7000 . That may be GST on the sale of vehicles , or it may have been owing for months , it isn't clear .

So one guy ( a divorced/seperated Dad ) is dead . The unsecured creditors and IRD are $57k out of pocket . But you will have noticed that the liquidator got $78k . Which means every debt , without her involvement ( the liquidator was a female ) , would have been paid . It is fair to assume that as a trading company , the debts could have all been paid , and this Lloyd Green would have still been alive . It may have taken time , and I accept we don't know the full circumstances .

But I also fail to understand how a business with $57,000 in debts can be charged $119,000 by a liquidator to 'wind it up' . She may argue she did her job and was paid the allowed rate for the hours worked , and that her job was made more difficult by the fact the guy had died . But surely common sense would kick in somewhere ?

More messages from your neighbours
34 minutes ago

Drive Change – One Licence at a Time

Blue Light

You’re invited to our Navigator information evening:
Tuesday 18 August at 6pm, Huntly College, Bridge Street, Huntly.

We urgently need volunteers to mentor vulnerable youth to get their driver’s licences.
All you need to be a volunteer is:
● 1 to 2 hours per week
● A full, clean driver’s licence
● Over 25 years of age

We provide modern, safe vehicles and the systems to take young people from Learner to Full Licence.

To volunteer or RSVP to the above events call 0800 bluelight or email blydn@bluelight.co.nz
Volunteer now

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J
1 day ago

What's On: Hamilton Collectables Market

Jennifer from Frankton

A NEW monthly market featuring Collectables, Retro, Books, China, Kitchenware, Vintage Tools, Jewellery, Toys & more. Free entry & carparks.
Hamilton Collectables Market
  • The Barn - Claudelands
1 day ago

SuperSeniors Newsletter August 2020

The Team from Office for Seniors

Hi Neighbours!

Our August SuperSeniors Newsletter is out now, and it's filled with lots of handy information and opportunities for seniors.

This issue includes a story about the benefits of volunteering and how to get involved, as well as an update on the changes to NZ Super and Veteran's Pension.

Even if you aren't over 65 yourself, check it out and share it with the older people in your life.

Click here to read our August newsletter: bit.ly...
Or to subscribe to the newsletter follow this link: bit.ly...

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