The administrator would more then likely be honda australia
incorrect.
the current administrators would be the external specialists / accountants from Ferrier Hodgson.
these people will help Ricky group to manage the bankruptcy processes / liquidation / selling off assets / making employees redundant / etc.. and most importantly to make sure the bills fr Ferrier Hodgson get paid first!
most of the new cars stock on the floor would be under loans from the banks. technically when a car is sold to a customer the loan must be repaid within 24 hours. (i used to deal with these stuffs).
so, the current new cars stock could be transferred back to Honda Aust / sold to other dealers and the loan transferred to that dealer.
the current administrators would be the external specialists / accountants from Ferrier Hodgson.
these people will help Ricky group to manage the bankruptcy processes / liquidation / selling off assets / making employees redundant / etc.. and most importantly to make sure the bills fr Ferrier Hodgson get paid first!
most of the new cars stock on the floor would be under loans from the banks. technically when a car is sold to a customer the loan must be repaid within 24 hours. (i used to deal with these stuffs).
so, the current new cars stock could be transferred back to Honda Aust / sold to other dealers and the loan transferred to that dealer.
Thats right, I used to 'work' with administrators and liquidators.... Bunch of legalised crooks imo.
Originally Posted by marquee
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