Perth Bullion Liquidation

So if you’re Order is worth $250 it will cost you $350 to get it?

My order is actually worth about $600 so it barely seems worth it for me and I’m sure there are many others with similar sized orders that are weighing up weather it’s even worth pursuing unless you can guarantee that your “picked goods” are actually set aside for you. What if you have a $1000 Order but only $250 worth are “picked goods”.

But it’s a fantastic outcome for those with large orders...
 
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Gigrantor said:
My order is worth $1140 and it would cost me close to this to get from Victoria to Perth to pick it up and then I have to pay another $350 on top of this???
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Yeah its BS - we shouldnt have to pay 3 cents let alone $350 to get OUR OWN STUFF - what kind of legal system is australia working under? its outrageous
 
Gigrantor said:
My order is worth $1140 and it would cost me close to this to get from Victoria to Perth to pick it up and then I have to pay another $350 on top of this???
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Maybe there is a trusted Stacker in Perth who we could pay $50 each or 2 x Silver coins from our orders to collect on our behalf a post to all the eastern states stackers
 
innerpath said:
Maybe there is a trusted Stacker in Perth who we could pay $50 each or 2 x Silver coins from our orders to collect on our behalf a post to all the eastern states stackers
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Its not a straightforward pickup - an appointment has to be made with the Liquidator and the $350 has to be paid before the appointment can even be requested let alone conducted.
 
monopolize said:
Wow so your goods are being held to ransom... legally. Anyone know of any ASX listed administrators that I can invest in?
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$350 x 450 SDB holders (not even counting the allocated, unallocated and orders - which also cost $350 to claim) - that's almost $160,000 for just 4 weeks of paperwork. Absolute RORT!
 
The $350 fee is not limited to SDB holders. Allocated storage & sales order claims are also required to pay the $350 fees. Not to mention goods that are worth below $350 may not be worth claiming will go as unclaimed property. So, who knows how much money can be cranked up from all the fees.
 
How would the $350 figure have been arrived at? I'm guessing this was approved by the Court in the hearing a few days ago.
Why isnt the Liquidator's costs (and profit incentive) taken out of the collapsed company's directors instead of its clients? It's like if a restaurant goes broke and then calling up all past diners and asking each of them for $350 to pay the liquidators - absolutely ludicrous! And I don't even see that the liquidators have performed any real function at all here - PBC could have just handed back our stuff directly - why bring in a middleman?
 
Today's information release by the Liquidators;

Collection of Goods from a Safety Deposit Box
Please ensure you have:
1)
Provided a copy of a signed application form;
2)
Provided a copy of photographic ID (driver’s licence, passport etc.);
3)
Provided a copy of the latest invoice or receipt for rental of the Safety Deposit Box;
4)
Completed and returned the appropriate Deed of Release which can be downloaded from
www.rsm.com.au/perthbullion
. Please note the Deed of Release must be signed by all primary and
nominated persons as recorded on the signed application form; and
5)
Paid the Collection Levy of $350 and any outstanding rental fees as required in the Orders by electronic
funds transfer to the bank account specified below.
After the above documents have been provided, you will be able to make an online appointment at
www.rsm.com.au/perthbullion
for collection of your goods.

Not sure what Item 1 means - a copy of a signed application form?
 
Deed of Release and Indemnity
Page
7
Doc ID 657888463/v1
5.
No representations, warranties or undertaking
Each of the Customers acknowledge and agree that, save as expressly set out in this
Deed, they have not relied on any representation, warranty or undertaking of any kind
made by or on behalf of the Company, the Liquidator or any of their respective
employees (including former employees of the Company), advisers and agents.
6.
Indemnity and release
6.1
Release
Upon execution of this Deed by each Customer, each Customer absolutely and
irrevocably releases, waives and forever discharges the Liquidator and any of
his partners, employees, officers, advisers and agents, RSM Australia Partners
and RSM Australia Pty Ltd from any and all Claims which the Customers have
or, but for the execution of this Deed, may have against the Liquidator
and any of his partners, employees, officers, advisers and agents
, RSM Australia Partners and RSM Australia Pty Ltd arising from or otherwise relating to or connected in any way with any of the
following, whether occurring before, on or after the Effective Time:
(a)
the Goods;
(b)
any Missing Goods;
(c)
the Storage Agreements;
(d)
if applicable, the collection of the Goods by the Authorised Person in accordance with this Deed;
(e)
this Deed;
and
(f)
the Appointment.
6.2
Bar
The Liquidator and any of his partners, employees, officers, advisers
and agents, RSM Australia Partners and RSM Australia Pty Ltd
may plead this Deed as a bar to any Claims made or actual proceedings commenced by
a Customer (or anybody claiming through them or any of them) against the Liquidator or any of
his employees, officers, advisers and agents.
 
I want to know if my items are actually in stock before I give these pricks another red cent!!!

What happens if you pay them $350 only to find that they don't have the actual items in stock or have run out of inventory?
 
Gigrantor said:
I want to know if my items are actually in stock before I give these pricks another red cent!!!

What happens if you pay them $350 only to find that they don't have the actual items in stock or have run out of inventory?
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Exactly - according to the Deed - they are off the hook - and you have to sign this Deed to even be granted an appointment to get your stuff - its a ctach-22. Absolute BULLSHIT!
 
and there is not even really time to get any legal help - there is only about 8 weeks left to sort it out - and its already been 4 weeks since liquidation just getting to this stage where today they finally released this info on collection procedure - we are all way out of our legal depth here against these legal sharks.
 
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Has anyone heard of any group formed to deal with this, outside this page - as the majority of the 450 SDB holders arent members here it seems?
 
Ie
Read section three “ Further and alternatively ...as a cost of winding up the of Bullion Bourse”.

I believeve that the costs can be recovered from the assets of the company?
 
Exclusive hidden camera pictures reveal the current state of Perth Bullion vaults...

vulture-feast-58a6d16e5f9b58a3c90642d2.jpg
 
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