Sounds fish.Bugatti wrote: ↑Mon Jun 17, 2019 12:40 am
Extract from marinebusiness.com
Victorian boat builder bought out of liquidation by previous owners.
Victorian boat builder Evolution Boats says it is “business as usual” after its parent company, PM Marine Manufacturing, was put into liquidation last week.
Owner Paul Junginger told Marine Business that prior to PM Marine Manufacturing, of which he was the main shareholder, being put into liquidation, Evolution Boats was sold to a new company, PM Composites, also under his control, which was registered with the Australian Securities & Investments Commission just two weeks earlier.
As a result, Junginger said Evolution Boats is now back in business under the new ownership at the same premises and with the same staff.
Is this for real , , , , well it is , , , , but , , , , what a
So let me get this straight , , , ,
Paul Junginger , , , , owned "Evolution Boats"
then
"PM Marine Manufacturing", which Paul Junginger effectively owns, buys "Evolution Boats" (which he owned anyway ????)
then
"PM Marine Manufacturing" goes into liquidation, which is the company that Paul effectively owns
BUT BUT
two weeks before "PM Marine Manufacturing" goes into liquidation, which is effectively Paul going bust
"PM Composites", who effectively is owned by Paul Junginger (with surprisingly similar "PM" names) buys "Evolution Boats" , , , , again, after buying it again and going bust
So , , , , a Company (Evolution Boats) that Paul owns, is then bought by Paul (himself) which then (Paul effectively) goes into liquidation and then "Evolution Boats" is bought by Paul (himself) again , , , , after going bust ????
AND they have the guts to say , , , , Evolution Boats is now back in business under the NEW OWNERSHIP , , , , and surprise surprise , , , , they also say , , , , at the same premises and with the same staff
I wonder how the unpaid creditors feel about all of that
Well Boats do catch fish , , , , so that may explain the Fishy Business
Probably a tax dodge
Or to confuse the unawear thinking that it's UNDER NEW MANAGEMENT to mean better quality