Perth Bullion Liquidation

Discussion in 'General Precious Metals Discussion' started by nighttrader, Jul 9, 2019.

  1. Sham Bolic

    Sham Bolic Member

    Joined:
    Jul 27, 2019
    Messages:
    103
    Likes Received:
    18
    Trophy Points:
    18
    Location:
    Perth
    total clusterfuck at all levels - the only people who havent fucked up here are the SDB holders who have to deal with incompetent at best and possibly criminal company, liquidators and courts - it is indeed SHAMBOLIC
     
  2. dollars

    dollars Active Member Silver Stacker

    Joined:
    Aug 31, 2010
    Messages:
    909
    Likes Received:
    174
    Trophy Points:
    43
    Location:
    Western Australia
    Sorry haven’t read what he said but
    I am interested!
     
  3. Sham Bolic

    Sham Bolic Member

    Joined:
    Jul 27, 2019
    Messages:
    103
    Likes Received:
    18
    Trophy Points:
    18
    Location:
    Perth
    "When you go back and look at the actual claim against them, and how spurious it was, it is ridiculous."
    Where can we have a look at this info?
     
  4. PMstack

    PMstack Member

    Joined:
    Jul 22, 2019
    Messages:
    37
    Likes Received:
    13
    Trophy Points:
    8
    did you get any more feedback on this?
     
  5. PMstack

    PMstack Member

    Joined:
    Jul 22, 2019
    Messages:
    37
    Likes Received:
    13
    Trophy Points:
    8
    There are rumours that some people are having difficulty getting their boxes out, can anyone give some feedback on this?

    i.e. not identified, simply not there...
     
  6. PMstack

    PMstack Member

    Joined:
    Jul 22, 2019
    Messages:
    37
    Likes Received:
    13
    Trophy Points:
    8
    Doesn't the deed of release potentially make us waive our (and therefore our insurance underwriter's) right to claim damages against them?

    The order of the supreme court says that the liquidator is justified in requesting the SDB holder to sign a deed of release at the time of collection and prior to release.

    However, the liquidator is requiring the SDB holders to sign in advance (i.e. prior to making the collection appointment) which is not what the court said....

    I think this is not fair, is it legal?

    Also, the insurance was paid by the SDB holder to PBC,
    and the liquidator has taken the position of PBC for the SDB holder,
    who is now asking the SDB holder to potentially go against the underwriters interest in signing the deed including the waivers inside.

    Doesn't this mean the liquidator is forcing the policy buyers to invalidate their insurance before collection????
     
  7. PMstack

    PMstack Member

    Joined:
    Jul 22, 2019
    Messages:
    37
    Likes Received:
    13
    Trophy Points:
    8
    I hit up the supreme court for a copy of the deed of release, as the supreme court order referred to it as an annexure but it wasn't included in the order released.

    They didn't have it.....

    My questions asking how I can be held by the supreme court to an order contained in a document they don't have were thoroughly unappreciated.

    Next day it was posted to the liquidator's website under the same link as the original order, but now with the annexure attached.
     
  8. Gazzasore

    Gazzasore New Member

    Joined:
    Jul 17, 2019
    Messages:
    5
    Likes Received:
    3
    Trophy Points:
    3
    Does anyone know How people from overseas get on?
    I only had 4oz of Silver with them
     
  9. Bullion Baron

    Bullion Baron Well-Known Member Silver Stacker

    Joined:
    Sep 15, 2009
    Messages:
    2,575
    Likes Received:
    267
    Trophy Points:
    83
    Location:
    Adelaide
    Given that others have mentioned having to pay a $350 fee to retrieve their metal, you may as well consider it gone.
     
  10. Agnostic

    Agnostic Active Member Silver Stacker

    Joined:
    Jun 13, 2013
    Messages:
    488
    Likes Received:
    148
    Trophy Points:
    43
    I suggest you contact the liquidators, explain your situation and ask for special relief from the $350 fee.

    It may well be easier for them to release the 4 ounces to you, rather than go through a 2-year process of submitting it to unclaimed monies or similar.
     
    Bullion Baron likes this.
  11. Sham Bolic

    Sham Bolic Member

    Joined:
    Jul 27, 2019
    Messages:
    103
    Likes Received:
    18
    Trophy Points:
    18
    Location:
    Perth
    4oz? thats worth about $72 - not worth worrying about.
     
  12. PMstack

    PMstack Member

    Joined:
    Jul 22, 2019
    Messages:
    37
    Likes Received:
    13
    Trophy Points:
    8
    The $350 is for arranging collection of a safety deposit box contents.

    You shouldn't have to pay anything more, on guy got his sent as per the order.

    Best get in touch with the liquidator (as on the website) and send them your records, payment/order number etc.
     
    66rounds likes this.
  13. myersm777

    myersm777 New Member

    Joined:
    Aug 4, 2019
    Messages:
    1
    Likes Received:
    2
    Trophy Points:
    3
    Received this email nearly 10 days ago now after paying a ridiculous $350 collection fee.....and still nothing from RSM regarding my SMSF assets in my safety deposit box. Went to the police and they don't seem to can't help. I don't have enough money to pay huge legal costs to fight this. Something is seriously wrong with the legal system in Australia when regulated liquidator can't even identify a safety deposit box after help from the PB director to specifically identify the box. Something dodgey is definitely going on.......

    Dear XXXX

    I refer to your previous emails and booking request for Thursday 8 August 2019 at 8am.

    Unfortunately, we have not been able to locate / identify your safety deposit box. Accordingly, the Liquidator is currently seeking urgent legal advice as to how he should proceed with releasing your goods in these circumstances.

    In the meantime, your booking has been cancelled. It will be rescheduled once we have obtained some legal guidance in this matter.

    Kind regards

    CRIMINAL FROM RSM



    RSM Australia Pty Ltd
     
    Last edited: Aug 15, 2019
    66rounds and ozcopper like this.
  14. fishduck

    fishduck Well-Known Member Silver Stacker

    Joined:
    Feb 14, 2018
    Messages:
    423
    Likes Received:
    585
    Trophy Points:
    93
    Just curious, is this how liquidators generally operate? By asking to waive your claims against the liquidator before seeing whether your contents in the SDB are safe or not? So what happens if all your contents are not there since you have signed the waiver on top of paying the $350 fee that none of the SDB holders agreed on when they signed up for storage?

    Also, if you find your box and find all your stuff isn't there, can you claim this with your insurance?
     
  15. fishduck

    fishduck Well-Known Member Silver Stacker

    Joined:
    Feb 14, 2018
    Messages:
    423
    Likes Received:
    585
    Trophy Points:
    93
    By the way, does anyone know how liquidators are chosen and appointed?
     
  16. Sham Bolic

    Sham Bolic Member

    Joined:
    Jul 27, 2019
    Messages:
    103
    Likes Received:
    18
    Trophy Points:
    18
    Location:
    Perth
    I wondered that a few days ago and am now thinking that may be a VERY relevant question
     
  17. dollars

    dollars Active Member Silver Stacker

    Joined:
    Aug 31, 2010
    Messages:
    909
    Likes Received:
    174
    Trophy Points:
    43
    Location:
    Western Australia
    I would Sign “ under duress” in the signature box
     
  18. Sham Bolic

    Sham Bolic Member

    Joined:
    Jul 27, 2019
    Messages:
    103
    Likes Received:
    18
    Trophy Points:
    18
    Location:
    Perth
    Do you mean that as a joke or is that an actual legally recognized option? (well not in the sig box of course but next to your sig)
     
    Last edited: Aug 15, 2019
  19. PMstack

    PMstack Member

    Joined:
    Jul 22, 2019
    Messages:
    37
    Likes Received:
    13
    Trophy Points:
    8
    I don't know what's usual but these guys seem to be asking us to sign to be convenient for them.

    Just happens that we need to waive our insurance to let them do that.

    I don't believe they can legally enforce the pre-appointment deed signing, as the court said the are justified in requesting we sign at the time of collection.

    They can ask, and it seems about 120 boxes have been collected.
     
  20. PMstack

    PMstack Member

    Joined:
    Jul 22, 2019
    Messages:
    37
    Likes Received:
    13
    Trophy Points:
    8
    Liquidators are the fifth biggest accounting firm on Earth. They were appointed by the Federal Court.

    They drew the Short straw in my opinion, because people are getting organised.
     

Share This Page