I am worried about the liquidators view on AutoModena. -- The Liquidation Of Automodena Ltd.

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Date Posted: 21:35:15 01/24/02 Thu
Author: Paulr
Subject: I am worried about the liquidators view on AutoModena.

Hi all,

I don�t know if it is just me, but I am worried that the liquidators don�t think that AutoModena were acting as brokers. I know that on the contract it said:

The Company will arrange for the Vehicle to be collected from the Dealer and delivered to the UK. The Buyer shall, no later than 10 working days prior to the delivery, arrange for an inter-bank transfer to be made to the account as specified by the Company for the amount equal to the Balance. The Company will require confirmation from the Dealer, at least 5 working days before the delivery that the Balance has been received. In no event will the Company be responsible for any delay in delivery of the Vehicle due to the failure by the Buyer to pay the Balance within the terms of the Agreement.

(This is new � 3.3 The payment details of the deposit will be communicated by the Company to the Buyer.�)

To me this looks like they are a broker but not to the liquidators. So if the liquidators don�t thing that they were brokers then they will keep all of our deposits��.

Paulr

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Replies:

Re: I am worried about the liquidators view on AutoModena. -- Rich, 12:59:03 01/25/02 Fri
- I have the one before it though, The dealer shall confirm payment 5 days before delivery! (NT) -- Rich, 13:01:04 01/25/02 Fri
This is a legal point. The liquidators have to follow the law. Their attitude before the creditors meeting seemed to be based entirely on what the directors were telling them (ie not an agency agreement). The reason they let the questions run on so long was, presumably, because they wanted the creditors side of the story. Check your contract and get legal advice to protect your position. (NT) -- No name, 14:08:43 01/25/02 Fri
Re: I am worried about the liquidators view on AutoModena. -- ron, 01:52:39 02/09/02 Sat

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