Scott's Shipping Services - FORMERLY UNDER "POSSIBLE LIQUIDATION"

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Enzo Matrix said:
Well he is clearly lying. Either that or some really silly contracts whereby he only takes ownership of items once the actual shipper gets it and is paid
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Yip ,sometimes shipper pays all and bonds it ,you then pay shipper for outstanding and pay the duties and vat when pulling from bond ,those goods ordered are probably in bond with the shipper and he won't release them ,may send them back or auction them .it's sad .
 
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PaulMurkin said:
Does that not have to be published in the papers, or in the government gazzette? Not even sure myself.
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All liquidation and de registration are registered ,there are lists you can Google, how up to date they are not sure ,and Sars is also involved .he registered in 2023 ,once again as I've said many times on this forum If you can't lick it ,don't pay for it .
 
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agnouja said:
This is not about his separate battery business. This is about Scott's Shipping Services business. Do you think a courier company would also be able to liquidate packages if they used third party carriers internally?
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My understanding of how the shipping service worked is that it was different to a courier (where you buy an item and give it to the courier to ship) and was more like WantItAll (where you pay someone to buy something on your behalf, ship it and then courier it to you). There's a crucial difference here, which is ownership of the item prior to it being shipped. In the courier example you own it, in the WantItAll example the company owns it.
 
ScottulusMaximus said:
1. Large loan June last year to order batteries, they're all sitting in the warehouse. That I also have to pay storage costs for.
2. Clearing agent stole several 100k from us by not paying our VAT and customs over in Nov last year, those were the delays in the beginning of the year. Loan to cover that.
3. Swine Flu, surgery and holiday: resulted in a backlog that we've now been hit with a massive customs bill that there is no cashflow to settle.
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Not to be the bearer of bad news but a heads up to anyone who has outstanding orders tied up with SSS, you will near certainly be last in the creditors line and hence only get the left over pennies and what's more likely is there'll be nothing left after the banks loans, outstanding customs/storage charges and liquidators costs have been deducted.

You would have hoped knowing the predicament he was in SSS would have taken due diligence not to allow the customs backlog to build up to an unmanageable level. Considering going by what he says that is essentially what broke the camels back, that's if he is being upfront and honest about everything, which is still pretty murky.
 
airborne said:
Not to be the bearer of bad news but a heads up to anyone who has outstanding orders tied up with SSS, you will near certainly be last in the creditors line and hence only get the left over pennies and what's more likely is there'll be nothing left after the banks loans, outstanding customs/storage charges and liquidators costs have been deducted.

You would have hoped knowing the predicament he was in SSS would have taken due diligence not to allow the customs backlog to build up to an unmanageable level. Considering going by what he says that is essentially what broke the camels back, that's if he is being upfront and honest about everything, which is still pretty murky.
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Yeah in my experience having been through this before you will complete that form and then never hear a single thing despite asking for feedback many times.
 
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Steamy Tom said:
Yeah in my experience having been through this before you will complete that form and then never hear a single thing despite asking for feedback many times.
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I take it Raru?
Actually what did happen with Raru, I managed to get my money out a week before they pulled the liquidation stunt.
 
calypso said:
to take the money that people had paid for a specific product and then spend it on something else. Thats theft.
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I don't think it's theft per se but there is a name for it that I cannot bring to mind right now.

RedViking said:
He says he hasn't gotten a salary since last year if I read correctly. But he went on a lekker big holiday this year. So how did he fund the holiday?
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Salaries are taxable tjom. ;)

Dave said:
If he’s been taking money from customers of his shipping business to subsidise his battery business he is a scammer and a fraudster.
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Can someone tell me hat this is called please?? I think Trump got in hot water for it too.

airborne said:
You would have hoped knowing the predicament he was in SSS would have taken due diligence not to allow the customs backlog to build up to an unmanageable level. Considering going by what he says that is essentially what broke the camels back, that's if he is being upfront and honest about everything, which is still pretty murky.
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Embezzlement! That's the word I was looking for. Paying one business debts with unfulfilled orders from, another business is misappropriation. I'd actually love to hear from a lawyer on this, alas all we have here on MyBB is redpill neckbeards reeing over trans athletes.
 
SlinkyMike said:
Embezzlement! That's the word I was looking for. Paying one business debts with unfulfilled orders from, another business is misappropriation.
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It's either or. Embezzlement is when you misappropriate funds without approval, for example as an employee or as a CEO without the boards approval for personal financial gain.

I'm leaning towards misappropriation of funds, which probably falls under fraud?
 
If it's all traded under one legal entity there is nothing legally wrong with "transferring" funds.
 
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