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Quote:

Originally Posted by Chrome Prince

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.

Hi CP,

I'm not defending Bill nor Cyberhorse, but simply reporting the facts as they are.

Whether or not there is a legitimate insolvent trading claim, the question is who is going to fund the liquidator to investigate any allegations?

I can also now confirm that I have been advised that the director of Cyberhorse Bloodstock Pty Ltd (CB) is in fact Bill also. As previously flagged and as part of the liquidators investigation, they will look further into the sale of the business assets. If their investigations reveal that they were sold at fair market value then that is where it ends as far as that component of their investigation is concerned. If it wasn't sold at what the liquidator deems to be fair market value then they will either ask Bill to pay more for it or alternatively they can void the sale and seek another buyer whom is willing to pay fair market value. Given the consideration for the acquisition by CB was a relatively small amount of cash with the balance being in the form of an assumption of liabilities of creditors only time will tell. I am also told that as a result of the sale, the subscribers to Cyberhorse are now creditors of CB not Cyberhorse. In that context, I am simply hoping for a favorable outcome for those affected.