1. Most Discussed
  2. Gainers & Losers

Act of..?

  1. Cazzex

    1,984 Posts.
    Tomorrow, we were going to settle on a factory sale in Sydney as part of my mother's estate.
    This has been a long process as it isn't easy selling a factory as although there were plenty of 'buyers' who said they wanted it, getting them to sign the dotted line has been another matter because, among other things, the potential buyer needs to be assured they have the relevant permission to use it for the purpose for which they are intending.

    So, we had a call from the agent requesting that, after final inspection on Thursday, they wanted 'lawns' mowed, rubbish and weeds removed. A number of family members turned up on Saturday to undertake the final cleanup. When we got there and opened the factory access door, it was apparent that there had been vandalisation.

    The factory has a very high roof. Almost all electrical wiring which came down the sides of the factory at intervals around the inside of the building had been cut. Major power cabling into the factory had been cut. A rolling gantry crane had been started up and used to pull a large tank off a mezzanine level, destroying it and leaving it's contents (some sort of fibre stuff) all over the factory floor. The crane had also been attached to a hot water system and this was wrecked also. Then the cables of the crane (one of 2) were cut and hanging all over the sides of the factory. All this damage occurred at least at a level 12ft. above the floor, so a ladder must have been taken in and used. Another pipe was destroyed but wires were not cut as they obviously knew they were 'live' and belonged to Telstra and not part of the factory itself. Inside the admin. building taps were broken off, including the toilets. Water cannot be turned on as water gushes out into the air from the pipes which have been cut. There was no forced entry.

    Police were called. They attended and the next day forensics came and took DNA samples and carried out fingerprinting, although prints were minimal.

    It could have been anyone; however, our no. one suspicion is aimed at a company (director) who didn't pay an account for the plant he received when he cleared the factory out, despite a clear contract being signed between the parties. We chased him for payment through legal channels, culminating in a judgement against him for the amount outstanding plus costs. He didn't pay and we then tried a garnishee on his bank accounts - just last month- but, despite having a business up and running, we were informed that there was no money there. This guy is a bigwig in the local community, even being a director on the Board of the local Club. I tend to think the damage and destruction has been done to cause maximum disruption to the sale process (SOLD sign on front) as well as maximum repair costs to us.

    Consequently, settlement is on hold, they want it fixed (naturally). Quites are being called for from electricians, plumbers, etc. We have been in contact with insurance company, who have not yet been clear that it is covered due to being 'empty'. We took the policy out informing them that there was no tenant in the building and that it was being prepared for sale. It is obvious that it would be empty when settlement was due this week.

    Aaaarrrhhhh....just another day in the lives of..........

    Life aint boring here, that's for sure..!!


Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.