Update on Opposite Lock (Blacktown NSW) Liquidation

I agree Roachie. Same applies to farms etc- people just trying to get by in a complex world. The banks always do very well out of these situations. I bet the bank didn't miss out and probably triggered the collapse.

Hi Roachie,

Your point is weel made.

I must say the owner did not look too enthused about life.

I suppose it would be very difficult to have to face the reality that your business falied, then have to face customers who have been let down.

Thanks

TonyG

Bob , incorrect mate.

That is or at least was , what I did for a living.

I can assure you , there are 2 sides to every story , and not to believe EVERYTHING the shows like ACA and Today Tonight report.

Its a long drawn out process , and doesn't happen overnight.

Sure , the Banks deserve a kick up the butt for a lot of things , and maybe this as well , but I can safely say , the Banks aren't always the problem in these matters.

G'day Flappan,
Of course you are correct about the TV shows.....they only ever show one side of the story in those sort of cases. The banks are prevented from telling their side of the story due to customer confidentiality etc. Being a banker (that's with a "b" not a "w" LOL), I can attest to how long it takes before a bank can take recovery action against an errant customer. Letters advising of missed repayment is the first thing. 3 months later we are allowed to issue a formal Letter Of Demand. Then we have to wait for 60 days before we can issue a "Notice Of Default". The funny thing is that at about this stage, we also have to advise the customer that it would be in their best interest to seek legal advice and bring their matter to the Department Of Consumer Affairs etc if they think the Bank has not been fair towards them.
Then the Bank has to wait for a further lengthy period before they can issue a notice of intention to take possession of any security it may have a mortgage over etc. It just goes on and on.
I remember one case I was involved in south of Cooma several years ago. A businessman had taken off to Hong Kong....done a runner. He was not in the country to "defend" himself. Even so, with no arguments from his side, it still took the bank 18 months to go through all the hassle and legal rubbish before his property could be siezed and auctioned to recover the debt. The legal fees and additional interest accrued over that period meant that there was hardly enough to clear the bank debts, let alone any other creditors.
What I meant by my reply, above, was that in my experience, nobody wakes up one morning as says...."Jeez I hate the bank, I think I'll just go broke to spite them". Most people who go broke have good intentions but poor management skills.

I don't know about the OL Franchise arrangements , but I have seen a number of others that have been the cause of a business going broke.

They have to keep a certain level of stock , contribute a certain amount of money for advertising etc. If they cant move what they have . . . they go broke , with the Parent Company really being the one who forced the franchisee to go broke. ( I think that Pedders Story is an example of that . . . to a degree anyway).

I just do not like the prices they charge at these franchised outlets or the poor advice and knowledge they give.
I find dealing with little businesses in the country I get a better deal and more importantly better advice. If I never darkened the door step or ARB TM Pedders and other franchised outlets it would not bother me. They are just to damned expensive for everything.

Quote for axillary battery setup at ARB $1200
Local welder in Lockhart (rural NSW) and local Mitsi dealer ended up paying $520. Nothing has failed and I have power when I need it. I think the thing they fitted was a Redarc something to make sure the main battery did not go flat. 15 months later still going great. $700 difference is massive.

Walter,
Doesn't always work that way either, I fitted my own dual battery system, using a REDARC isolator, an ARB battery tray and a PIRAHNA fuse block, plus some help from others off this, and other forums. This worked out the most cost effective for me, and I haven't passed $250 yet.
Rolande

Rolande that price included a red yankee battery for $200. I am not complaining. System works great and I am happy little chappie. $700 big bucks is better in my wallet than ripoff ARB

Walter,
No criticism meant, just saying that if you take the best of what they have to offer you can often end up with the same result for much less. i agree with some prices of A%B stuff, but the battery tray I bought is well made, well priced and came with all fitting instructions and hardware. It saves having to reinvent the wheel. Glad your setup suits you, as mine will suit me. Everyone happy
Rolande

Walter,
No criticism meant, just saying that if you take the best of what they have to offer you can often end up with the same result for much less. i agree with some prices of A%B stuff, but the battery tray I bought is well made, well priced and came with all fitting instructions and hardware. It saves having to reinvent the wheel. Glad your setup suits you, as mine will suit me. Everyone happy
Rolande

Hi Seto,

Good to hear.

I will talk to them also this week about completing my water tank installation.

TonyG

David / Tony,
Don't forget to mention you read it on ExploreOZ. If enough mention then we might get Ian to advertise, may even get discount???
Rolande