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Genesis Racing being liquidated

funkymonkey

By funkymonkey,
in Victoria

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funkymonkey Grand Master

funkymonkey

Posted
Posted

Got word today that Genesis is being liquidated and that lawyers were overseeing the return of cars to their owners and payments being collected.

Speaking to Craig (one of the better tuners in Melbourne, and Genesis employee) it seems the owners were runnin into a lil bit of debt. He rocked up to work to find security guards overseeing the entry and he's still tryin to get his tools n stuff.

J-Spec's high speed RX7 (298km/h highest to date) was being tuned there at the time, and they're going to have to speak to the lawyers to get the car out. One of my mates dropped his car in a day before and can't get his car back for a week now. Is anyone else's car there atm?

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https://www.sau.com.au/forums/topic/72804-genesis-racing-being-liquidated/
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halz Collaborator

halz

Posted
Posted

My car is currently locked up too. The car went in on the Monday to be returned on the Wednesday when they were locked out.

I have spoken to the solicitors with little success, originally assured that they would be returned Monday or Tuesday this week. I'd be interested to hear what the other owners are doing to have our vehicles returned ASAP.

Downforce Grand Master

Downforce

Posted
Posted
My car is currently locked up too. The car went in on the Monday to be returned on the Wednesday when they were locked out.

I have spoken to the solicitors with little success, originally assured that they would be returned Monday or Tuesday this week. I'd be interested to hear what the other owners are doing to have our vehicles returned ASAP.

The liquidators can't hold or take posession of any of Genesis' customer's cars, or any assets not belonging to Genesis. That's bullshit. Go down there with your proof of registration, insurance, drivers license and demand your car be released - If not, then a stolen vehicle report against the liquidators at the local police station will sort them out. You have the right to recover your property, and also take legal action against them for personal loss or inconveniences caused as a result of any delay.

ocean Rising Star

ocean

Posted
Posted
The liquidators can't hold or take posession of any of Genesis' customer's cars, or any assets not belonging to Genesis. That's bullshit. Go down there with your proof of registration, insurance, drivers license and demand your car be released - If not, then a stolen vehicle report against the liquidators at the local police station will sort them out. You have the right to recover your property, and also take legal action against them for personal loss or inconveniences caused as a result of any delay.

That is 100% true. Having worked in the law industry before, I can say with certainty that as long as you have all the paperwork you will have no trouble.

-Patrick

PurpleR32 Experienced

PurpleR32

Posted
Posted
The liquidators can't hold or take posession of any of Genesis' customer's cars, or any assets not belonging to Genesis. That's bullshit. Go down there with your proof of registration, insurance, drivers license and demand your car be released - If not, then a stolen vehicle report against the liquidators at the local police station will sort them out. You have the right to recover your property, and also take legal action against them for personal loss or inconveniences caused as a result of any delay.

While I agree with what you are saying, I believe the reason for holding the cars comes down to parts. That is, parts that Genesis have bought on credit from a supplier, who they havnt paid and put on the car. If i was a turbo manufacturer and they had one of my turbos on a car that wasnt paid for, i would want it back ASAP!

It takes time to sort all of that shizzle out.

my .001c

predator Grand Master

predator

Posted
Posted

ba.. business is going under, its barely going to meet its more major debts. Few free turbos isn't going to change things - I'd be getting in there and getting that car back and hoping the work is done.. then again maybe its as you brought it in there :)

Suppliers just get duped and lose their money and wait 6-12 months to get not a cent - happens a lot.

FATGTS-R Experienced

FATGTS-R

Posted
Posted

Never good to hear a business going under. Commiserations to the owners. It happened to a close friend many years ago and the ramifications were ugly.

Business - income - cars - house - marriage all disappeared before his eyes.

In this case, I dont envy the people who where having major work done on there cars nor the people whos job it is to refuse entry to the owners. What will happen to people who go to collect there cars to see it in pieces? And then look around to not see there pieces sitting anywhere? I forsee some possible ugly scenes.

Hope all works out smoothly for all parties involved.

R33RWKW Proficient

R33RWKW

Posted
Posted
Craig's looking into setting up his own shop, and from what I heard, looking for an investor to help him kick it off.

Hi, when things settle down a bit, get back to me on what Craig is thinking in terms of location, business size & investment needs. I could be one person that is interested in going into business with him (investment side - not tuning.)

I have heard great things about Craig from some workmates & others, - a honest hardworking bloke & a great tuner & I was going to get some work & a tune done by him before the original liquidation post turned up.

I hope in the end it all works out for him & everyone who's got their car over at Genesis.

Cheers, Chris

Bass Junky Grand Master

Bass Junky

Posted
Posted

I'm bloody shocked.

I reckon Craig is a great bloke, and this couldn't have happened to a nicer guy.

Wherever Craig goes, I will be going to get my car tuned.

Im very sorry for him and crap that will now ensue.

When things settle down, and everything is sorted, I need to know where he is going to be so he can tune my cams.

pinoi_boi_r33 Community Regular

pinoi_boi_r33

Posted
Posted

yeah, my car was booked for a service yesterday and rocked up to find the gate closed. was like wtf. at the time was cut that they didn't call me to cancel. But i'm lucky i didn't have the car in there at the time... he did seem like top bloke tho, and very professional.

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