12th December 2013, 01:20 PM
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Member
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Join Date: Jan 1970
Posts: 4,366
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Quote:
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Originally Posted by PaulD01
Hi All,
After speaking with liquidators office this morning of Cyberhorse Pty Ltd, I can confirm the following:
1. The petitioning creditor was the Australian Taxation Office whom are owed ~ $181,500;
2. On or about 1 day prior to the appointment of the court appointed liquidator, the assets of Cyberhorse Pty Ltd, in particular things such as the customer lists, domains, email addresses, phone numbers, subscriber lists etc were sold to another company Cyberhorse Bloodstock Pty Ltd which is a related party. The liquidator as part of their investigations is looking into the sale of the business to ensure that it was at fair market value.
The good news for Cyberhorse clients is that there may well be a resurrection of the service so that those affected can continue to receive what they have paid for.
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Not in this lifetime.
Racing Victoria has pulled out all funding for the Racehorse Outplacement program.
Bill has failed to advise clients of the truth of the matter, I refer to his email stating the reason for the problem.
Cyberhorse Bloodstock will have to have new Directors, and if the previous Director has any connection whatsoever, I'll not be rejoining.
You cannot sell a business to yourself to avoid a tax debt. It is highly illegal and then start again, otherwise everyone in trouble would do it.
You cannot take subscribers money whilst insolvent, that is fraudulent.
My receipt and invoice does not state it is Cyberhorse Bloodstock at all.
Bill will not repond to emails, phone calls, nor posts on his own forum.
Ergo, this tells the story better than I. |