Author Topic: Kimberly Kampers in Voluntry Administration  (Read 11997 times)

0 Members and 1 Guest are viewing this topic.

Offline wilson79

  • Hard Floor Camper User
  • *****
  • Posts: 1100
  • Thanked: 87 times
  • Gender: Male
Regards,

Wilson79


My camper, http://www.myswag.org/index.php?topic=39588.msg711354#msg711354
2014 Ecomate Traveller FF

My Tug, OCT 2016 VDJ200 VX Landcruiser
http://www.myswag.org/index.php?topic=54907.msg955281#msg955281

Offline tryagain

  • Hard Top Camper User
  • ******
  • Posts: 3519
  • Thanked: 609 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #1 on: January 10, 2018, 10:27:58 AM »
Sad news...

https://www.timetoroam.com.au/kimberley-kampers-voluntary-administration/

It has been discussed elsewhere here but couldn't find it with a quick search. Seems just to be an unusual way of dealing with a divorce and the division of assets that brings about.

Offline trinityalyce

  • Hard Floor Camper User
  • *****
  • Posts: 974
  • Thanked: 143 times
  • Gender: Female
    • Bulldust & Back Roads
Trinity (+ James + Mister Dog)
'04 TD42 GU Nissan Patrol Wagon + '06 TD42 GU Nissan Patrol Coil Cab Ute + '18 Ultimate Xplor GT Camper


www.bulldustandbackroads.com

Offline gronk

  • KKK... Kwik Kool Kamping
  • Hard Top Camper User
  • ******
  • Posts: 7996
  • Thanked: 401 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #3 on: January 10, 2018, 12:40:05 PM »
As Bruce Loxton said in that article, a highly unusual way to deal with it, but it gets it over with in a short period of time.

In other words, pay the ex, restructure and get on with it.  But I'd say it will hurt sales in the short term.
2009 200 series Yota
2019 Lifestyle Ultra

Offline tryagain

  • Hard Top Camper User
  • ******
  • Posts: 3519
  • Thanked: 609 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #4 on: January 10, 2018, 12:54:12 PM »
In other words, pay the ex,

The suspicious part of me thinks this is to avoid doing that.

Offline gronk

  • KKK... Kwik Kool Kamping
  • Hard Top Camper User
  • ******
  • Posts: 7996
  • Thanked: 401 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #5 on: January 10, 2018, 01:29:13 PM »
The suspicious part of me thinks this is to avoid doing that.

Or more to the point.....pay her the least amount possible.
2009 200 series Yota
2019 Lifestyle Ultra

Offline Andosan

  • Sleeping Bag User
  • *
  • Posts: 46
  • Thanked: 6 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #6 on: January 10, 2018, 01:57:18 PM »
The odd thing is - why make any announcement at all if they are continuing to trade?  It only creates uncertainty where there wasn’t any to begin with.
Camprite TX6 MkII
Landcruiser 200 GXL

Offline wakychapmans

  • Hard Floor Camper User
  • *****
  • Posts: 1049
  • Thanked: 131 times
Re: Kimberly Kampers in Voluntry Administration
« Reply #7 on: January 10, 2018, 03:47:14 PM »
The odd thing is - why make any announcement at all if they are continuing to trade?  It only creates uncertainty where there wasn’t any to begin with.
Because if they did it on the quiet... and then the fact that they were doing it became public knowledge...

It would look *really* suspect and no amount of explaining would put the public at ease.

At least this way... they have some control of the release of information




Sent from my iPhone using Tapatalk
Wayne & Kyria Chapman
(+ Tucker & Monty the Samoyeds)
www.youtube.com/@morepawstravels/about
105 series Landcruiser 1HZ (soooooo much power)
1994, Supreme Getaway 14' (a "renovators dream")
http://www.myswag.org/index.php?topic=56736.0
2 x titanium fatbikes with 4.8" tyres

Offline rossm

  • Soft Floor Camper User
  • ****
  • Posts: 560
  • Thanked: 55 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #8 on: January 10, 2018, 04:18:41 PM »
The odd thing is - why make any announcement at all if they are continuing to trade?  It only creates uncertainty where there wasn’t any to begin with.

It would be a legal requirement.

Offline wakychapmans

  • Hard Floor Camper User
  • *****
  • Posts: 1049
  • Thanked: 131 times
Re: Kimberly Kampers in Voluntry Administration
« Reply #9 on: January 10, 2018, 05:00:35 PM »
It would be a legal requirement.
There is that yes...


Sent from my iPhone using Tapatalk
Wayne & Kyria Chapman
(+ Tucker & Monty the Samoyeds)
www.youtube.com/@morepawstravels/about
105 series Landcruiser 1HZ (soooooo much power)
1994, Supreme Getaway 14' (a "renovators dream")
http://www.myswag.org/index.php?topic=56736.0
2 x titanium fatbikes with 4.8" tyres

Offline Andosan

  • Sleeping Bag User
  • *
  • Posts: 46
  • Thanked: 6 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #10 on: January 10, 2018, 05:33:39 PM »
It would be a legal requirement.

Only if they are a listed company.  Pretty sure private companies don't have to make public announcements.
Camprite TX6 MkII
Landcruiser 200 GXL

Offline rossm

  • Soft Floor Camper User
  • ****
  • Posts: 560
  • Thanked: 55 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #11 on: January 10, 2018, 06:07:26 PM »
Only if they are a listed company.  Pretty sure private companies don't have to make public announcements.


found this

The company comes under the authority of an Administrator immediately upon his or her appointment. Upon appointment, the Administrator is obliged to lodge a notice of appointment with ASIC in order to provide notification that the company is under external administration. The Administrator must also publish a notice of appointment in a newspaper. Once an Administrator is appointed, the company name must be followed by the descriptor "(Administrator Appointed)".

on this website

http://www.mondaq.com/australia/x/79816/Insolvency+Bankruptcy/An+Introduction+To+Insolvency+Law+Part+One

Offline Andosan

  • Sleeping Bag User
  • *
  • Posts: 46
  • Thanked: 6 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #12 on: January 10, 2018, 08:07:00 PM »
Ok so it seems I was wrong about the public notices.  When a company goes into voluntary administration they have to notify as many creditors as possible in writing and publish a notice, as a minimum on the ASIC public notices website.
Camprite TX6 MkII
Landcruiser 200 GXL

Offline Nomad

  • Hard Top Camper User
  • ******
  • Posts: 2622
  • Thanked: 94 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #13 on: January 11, 2018, 07:18:57 AM »
Seems a clever move.
By going into administration the company almost has a zero goodwill value. If he is trying to get his Mrs of the books then its a cheap way to do it.

Offline gronk

  • KKK... Kwik Kool Kamping
  • Hard Top Camper User
  • ******
  • Posts: 7996
  • Thanked: 401 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #14 on: January 11, 2018, 08:01:50 AM »
Seems a clever move.
By going into administration the company almost has a zero goodwill value. If he is trying to get his Mrs of the books then its a cheap way to do it.

He is a wealthy man......or was.. ;D........so he would have a smart lawyer working on it.
2009 200 series Yota
2019 Lifestyle Ultra

Offline gordo350

  • Soft Floor Camper User
  • ****
  • Posts: 433
  • Thanked: 27 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #15 on: January 11, 2018, 11:03:08 AM »
If one creditor or one employee loses out because of  this then he is a ****. Fullstop
Gordo 350
2015 Ford Ranger Super Cab
Aussie Jays Big Red
everyone is entitled to my opinion

Offline Julian Kaye

  • Tent User
  • ***
  • Posts: 169
  • Thanked: 20 times
Re: Kimberly Kampers in Voluntry Administration
« Reply #16 on: January 11, 2018, 01:54:44 PM »

  Companies going into administration does not necessarily mean financial collapse. Directors have a legal obligation that they not trade while technically insolvent or if the directors (as it appears in this case) have unresolved issues regarding the administration or financial direction of the company. It's not a good look and there will be a lot of nervous customers and creditors. They are probably big enough and successful enough to overcome this in the long run but its gotta hurt them in the short to medium term.

Offline Andosan

  • Sleeping Bag User
  • *
  • Posts: 46
  • Thanked: 6 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #17 on: January 11, 2018, 03:32:30 PM »
One possible scenario is this:

As a result of a marriage separation, one of the parties, who is a shareholder in the business, wants to exit the business and retain their shareholding as cash to settle the financial separation.  There may be not enough cash in the business to do that without becoming insolvent, so you go into voluntary administration, rearrange the ownership structure of the company, and organise some debt (or find another shareholder) to pay out the cash equity to the departing shareholder.
Camprite TX6 MkII
Landcruiser 200 GXL

Offline Bird

  • Once Was Lost, now am found
  • Hard Top Camper User
  • ******
  • Posts: I am a geek!!
  • Thanked: 1818 times
  • Gender: Male
  • Life is far too long....
    • My Place.
Re: Kimberly Kampers in Voluntry Administration
« Reply #18 on: January 11, 2018, 03:37:50 PM »
Didn't we go through all this in the last thread?
-
Click to enlarge

Gone to a new home

Offline Wortho

  • Soft Floor Camper User
  • ****
  • Posts: 312
  • Thanked: 8 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #19 on: September 16, 2018, 01:11:18 PM »

Offline gronk

  • KKK... Kwik Kool Kamping
  • Hard Top Camper User
  • ******
  • Posts: 7996
  • Thanked: 401 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #20 on: September 16, 2018, 01:56:58 PM »
Good to see it happen, although the brand will have taken a massive hit, so getting the buyers back will be a big task !
2009 200 series Yota
2019 Lifestyle Ultra

Offline Wortho

  • Soft Floor Camper User
  • ****
  • Posts: 312
  • Thanked: 8 times
  • Gender: Male
Re: Kimberly Kampers in Voluntry Administration
« Reply #21 on: September 16, 2018, 04:56:36 PM »
The staff have now had more comebacks than Johhny Farnham  ;D

Offline GeoffA

  • 2017 National Meet Volunteer
  • Hard Top Camper User
  • *****
  • Posts: 8466
  • Thanked: 601 times
  • Gender: Male
  • "If 1 axle is good, 2 must be better........."
Re: Kimberly Kampers in Voluntry Administration
« Reply #22 on: September 16, 2018, 05:02:44 PM »
Back again by the sounds of it  :D  https://www.timetoroam.com.au/kimberley-kampers-resurected/

...all seemed rosy, until I read the comments section.

Hope it works out for them.

 :cheers:
Geoff and Kay

1999 GU TD42T wagon
2005 Coota Camper - gone, but never forgotten
2020 North Coast 15' Titanium - tandem, of course

Land Cruiser.....the Patrol that Toyota try to build.....

Offline Pottsy

  • Hard Top Camper User
  • ******
  • Posts: 1799
  • Thanked: 393 times
Re: Kimberly Kampers in Voluntry Administration
« Reply #23 on: September 16, 2018, 05:59:47 PM »
...all seemed rosy, until I read the comments section.

Hope it works out for them.

 :cheers:

X2
if God had meant me to walk he wouldn't have invented 4wds! Mitsubishi Challenger Pc 2014 (Blondie)
Challange Meredien Offroad Walk Thru

Offline BaseCamp

  • Hard Top Camper User
  • ******
  • Posts: 1681
  • Thanked: 205 times
  • Gender: Male
  • Shake & Bake BB!
Re: Kimberly Kampers in Voluntry Administration
« Reply #24 on: September 16, 2018, 06:51:01 PM »
x3
I see a bad moon arising...

Sent from my SM-G950F using Tapatalk

You get out and in to the world -- you take more @#&$. …You climb a little higher, ..you take less @#&$.  …Till one day -- you're up in the rarefied atmosphere -- and you've forgotten what @#&$ even looks like….  Welcome to the layer cake son.