Skip to main content

Bernard Roux entrepreneur's Eurocopter 120B is up for sale after being repossessed by the Commonwealth Bank

If anyone thought the Victorian businessman and founder of the Hyde Hill polo team, Bernard Roux (Image results for Bernard Roux), has been quiet in the skies recently, there could be an explanation.

The financial crisis appears to have affected not only MFS founder Michael King but also some of the former opponents of his Elysian Fields horse polo team.The French-surnamed entrepreneur's Eurocopter 120B is up for sale after being repossessed by the Commonwealth Bank earlier in the year.A tender for the helicopter has been called by the auctioneer Grays ''under instructions from a leading bank'', after the Roux-controlled Inchalla Nominees was tipped into administration earlier in the year.

eurocopter120 B repossesion

Inchalla had a $1.1 million loan taken out over the chopper. Roux's Hyde Hill polo team often competed against King's Elysian Fields team and even Jamie Packer's Ellerston. Roux runs the finance concern Fleetsmart Australia and often copped a few noise complaints over his helicopter in the cashed-up bayside town of Portsea.

But there seems to be some confusion over the sale of Roux's chopper. One budding buyer in Perth has already infuriated the auctioneer by putting the Eurocopter up for sale on another website. ''He's trying to sell it before he buys it,'' said an irked Grays operative, Denis Matthews, who claimed his sale was being ''hijacked''.But the would-be asset shuffler, Damien Dew, said advertising something for sale that you had not yet purchased was ''not uncommon''. ''I've got someone interested who wants to bid for the aircraft,'' said Dew, who has a $US990,000 ($1.1 million) sale sticker on the chopper. Dew seems to be taking a leaf out of the books of asset flickers such as the now collapsed Babcock & Brown and MFS Limited. His assessment of Roux's flying machine: ''It's like having a M5 BMW. It looks good, but not really.''

Adding to the confusion, Roux told CBD the chopper had already been sold by his company. As for his other business concerns, Roux said: ''We're just progressing on as we normally would.'' A wind-up order against Roux's Fleetsmart was lodged in the Victorian Supreme Court last week

Comments

  1. This comment has been removed by the author.

    ReplyDelete
  2. Earning money online never been this easy and transparent. You would find great tips on how to make that dream amount every month. So go ahead and click here for more details and open floodgates to your online income. All the best.
    Earning money online never been this easy and transparent. You would find great tips on how to make that dream amount every month. So go ahead and click here for more details and open floodgates to your online income. All the best.
    Earning money online never been this easy and transparent. You would find great tips on how to make that dream amount every month. So go ahead and click here for more details and open floodgates to your online income. All the best.

    ReplyDelete

Post a Comment

Popular posts from this blog

How to get a cheap Bank repossession properties ?

It would appear that repossesions are a good way to get a property under current market value, however how would you find out about them ? Is this information available to all of us ? Is the purchase any different because it's a repo ie are lenders a bit more wary ? Solutions : If it property is being reposessed the seller (mortgage company) also considers the speed of sale - if they "could" get a higher price with another buyer they will also consider how quickly the sale could go through. Therefore some latitude is given to agents in what offer is accepted (eg an agent can say that buyer "x" is well known to them and can proceed quickly. Buyer "b" offered 10k more but is an unknown quantity. Bank Repossesion Houses List Database These days repo's don't really go much cheaper we had one only 3 months ago and it went well over asking price. If you were to ask an agent to give you a call when one is available its very r...

Tips for buying Bank Repossession property

10 tips for Buying Bank acquired  Repo Property 1) Whether you’re buying a home to live in Australia or you’re buying an investment property to let out, you need to check the property in light of your expectations of it and for it.  I.e., if you’re going to be living in it, is it located in a neighbourhood that suits you, if you’re going to be renting it out, does it have the space you need, does it match your target rental market’s requirements for it? 2) Find out what the Bank value of the home is – and focus on this.  Is this a value you are comfortable paying for the property – could it be worth a lot more than the listed price? 3) Scrutinize the state of the property externally and internally.  Look at everything from the foundations to the roof, from the electrics to the plumbing.  Is there dry rot?  Termite damage?  Will you need to redecorate or renovate?  Factor in all of the extra costs you will incur if you are successful in yo...