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post #3 of Old 11-20-2007
Pete & Carol Bailey
Join Date: Nov 2007
Location: Cyprus
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We are one of PSC's creditors!

We bought our Pacific Seacraft 40 in April 2003. It was delivered to England with a liturgy of problems neccesitating refunds from PSC and warranty claims, all of which were accepted by Don Kohlmann, the MD at the time. Despite making contact to the various management teams since put in place, all we received were promises and "financial difficulties" mooted as an excuse for the delay in reimbursing us.

In 2005, we wrote to yachting press in the UK and US advising that they warn prospective buyers to investigate a builders financial position before making a committment; and at the very least to ensure they purchase the hull to ensure ownership in case of insolvency. None did this, although we were put directly in contact with Nigel Calder and suggested he include a section on due dilligence in his articles on his Malo build. I can therefore empathise with the concerns of buyers whose hulls were transferred to the new owner at a fraction of the amount they have paid to date!

We have just ended our sailing season and had booked flights to California to confront PSC personally - unaware of recent developments. We will still make the journey and if anyone can provide more information on whom to contact regarding creditor's claims, we would be most grateful.

On a positive note - over the summers since 2003 we have sailed Bali Blue 5000nms from England around the northern countries of the Med and she is now overwintering in Cyprus, where we live. She is beautiful to sail and live in and although better suited to Blue Water cruising, she has seen us safely through the sharp seas and various winds of the Med and commands a lot of attention wherever we go.

Pete & Carol Bailey
SY Bali Blue (Pacific Seacraft 40)

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