NCIX bankrupcy auction

[dragoon20005]

I think most of us has watch the part 2 on floatplane

 

so i discuss something related to the auction

 

http://bid.ableauctions.ca/NCIX-Richmond-Auction_as51658?ps=100

 

 

found the auctioneer and the number of item that was auctioned off 

 

the first few items which are desktops

 

 

and judging by the looks, they looked like customers' desktop that they are selling off to me

 

 

either PCs which customers ordered or PC that were sent in for repairs and upgrading

 

 

 

So if those PCs belongs to the customers

 

How will those customer going to get back their PCs?

 

[NMS]

2 minutes ago, dragoon20005 said:

How will those customer going to get back their PCs?

They're not getting anything.

[asus killer]

you can't auction things that aren't yours. Only if it's a canadian thing.

[dragoon20005]

4 minutes ago, asus killer said:

you can't auction things that aren't yours. Only if it's a canadian thing.

it clearly looks like anything within the premises of NCIX is being auctioned.

 

be it NCIX or customers of NCIX

9 minutes ago, NMS said:

They're not getting anything.

you know your answer is stupid 

 

 

[NMS]

Just now, dragoon20005 said:

you know your answer is stupid 

Yet true.

[Canada EH]

24 minutes ago, dragoon20005 said:

How will those customer going to get back their PCs?

They wont

[dragoon20005]

Just now, Canada EH said:

They wont

this sucks in a way

 

 

surely customers should be able to file a lawsuit regarding a wrongful lien sale?

[Canada EH]

1 minute ago, dragoon20005 said:

this sucks in a way

 

 

surely customers should be able to file a lawsuit regarding a wrongful lien sale?

Yes, anyone can sue anyone for anything. Mr. Bill Gates looked at you wrong, sue him!

[dragoon20005]

2 minutes ago, Canada EH said:

Yes, anyone can sue anyone for anything. Mr. Bill Gates looked at you wrong, sue him!

[Canada EH]

36 minutes ago, dragoon20005 said:

this sucks in a way

 

 

surely customers should be able to file a lawsuit regarding a wrongful lien sale?

People have been screwed out of $10's of thousands of dollars with simple consignments of automobiles and the government couldnt do fuck all!!!!!!!!!!!! Meaning the dealer sold the vehicle to another person and pocketed the full amount. Basically a stolen vehicle. And the police will not/can not return it to the rightful owner. So the original owner is stuck with paying the monthly payments and not even owning the vehicle.

 

Heck they gave a used dealership license to a convicted thief, who wasnt charged with one theft, no no, seperate multiple thefts.

 

So a thousand dollar pc, in bankrupcy auction. Ya no!

 

Sure you can hire a lawyer and sue.

Sure you can go to small claims court and represent yourself.

 

Do you wanna know what happend to Sears customers who purchased thousand dollars in warranty. Ha, no dice!

What about the truck full of $25,000 in furniture that a home owner just purchased that was never delivered because of the bankrupcy. I worked with a feller who was up on home reno fraud, taking deposits without a license, he stole like $5M or something. Still waiting for his conviction on arrainged guilty plea. I think he is on the run now.

 

Basically comes down to a civil matter.

[Majinhoju]

I was sort of tempted to just waltz in and walk out with $1800 worth of gear.

[Delicieuxz]

They aren't customers' computers, they're in-store demo PCs, or other stuff.

[Majinhoju]

Did customers who sent in their PCs for RMA or repair get their machines back?

[wasab]

Going out of business sales are great opportunity to get amazing stuff at a bargain. 

[Canada EH]

57 minutes ago, Majinhoju said:

Did customers who sent in their PCs for RMA or repair get their machines back?

Nope

58 minutes ago, Delicieuxz said:

They aren't customers' computers, they're in-store demo PCs, or other stuff.

And you know this how?

[divito]

38 minutes ago, Canada EH said:

Nope

I'd have a hard time believing this. They aren't property of NCIX and wouldn't be part of assets in which to sell for creditors. Most of the PCs shown (that I saw, though I didn't go through all the pages of stuff) are from offices and demos. While they might resemble a regular person's gaming PC, they probably just used whatever parts they wanted.

Linus would probably know better.

[Majinhoju]

6 minutes ago, divito said:

I'd have a hard time believing this. They aren't property of NCIX and wouldn't be part of assets in which to sell for creditors. Most of the PCs shown (that I saw, though I didn't go through all the pages of stuff) are from offices and demos. While they might resemble a regular person's gaming PC, they probably just used whatever parts they wanted.

Linus would probably know better.

From the looks of the auction they pretty much auctioned off everything from shelving to the wall of certifications and awards.  I'm doubting the team who handled the auction would even have been able to tell what was a customer machine and what was a staff machine.

[divito]

2 minutes ago, Majinhoju said:

From the looks of the auction they pretty much auctioned off everything from shelving to the wall of certifications and awards.  I'm doubting the team who handled the auction would even have been able to tell what was a customer machine and what was a staff machine.

Well I'm assuming it would have been in a designated area for repairs, and there should be some record of it. 

And yes, typically everything that has value will go to auction. When Target closed in Canada, and the liquidators came in, basically everything that wasn't on loan was sold if it could be. Some stuff we tossed, but not very much. 

[Majinhoju]

I obviously don't know for sure but hopefully those who had computers in for repair at least got them back.

[Delicieuxz]

11 hours ago, Canada EH said:

Nope

And you know this how?

1. Because I've gone into a few NCIX stores and seen their demo systems.

 

2. Because it would be a criminal act to sell other people's systems, and so the premise is a bit absurd.

 

There is not a basis to think NCIX is selling systems that aren't theirs in the first place. And if it was happening, it would be reported in the news, and criminal investigations would be happening.

[FlatBrokeRacing]

sigh.... if you want to know the answers to the legality of the issues at hand i wrote a long response in the floatplane subsection on this.

 

but a quick recap, when a company goes bankrupt and into receivership, the courts order a bailiff to lock the facilities down. The owner of the company no longer owns anything stored in or on the premises, nor has access to anything on the premises just like employee's or anyone else that worked there. So anything in or on the premises be it property of ncix or not is locked inside. if you are an employee or a consumer, with personal items/goods inside, it is up to the owner of said items to prove they have items in there, and that those items are theirs (generally invoices are not enough, things like service paperwork, serial numbers, photos are required as invoices have no specific identifiers and any tom dick and harry can walk up and say "hey i have a i7 7700k in there with blah blah blah". A bailiff and a trustee will usually be on hand for a couple of days time to allow this to happen but generally there is a specific time frame setup, and can also be difficult to know unless you act on it ASAP. Anything not claimed in said time period are inventoried and auctioned. So yes say if someone from out of province had things in there for RMA, or warranty, or service it can be extremely difficult (as in 99% impossible) to get their items back, as you would have to show up in person (a bailiff and the courts are not going to itemize something and ship it for you).

 

you have to remember, when bankruptcy is filed at this corporate level, the company is dissolved through the courts, the owner technically no longer owns said company and holds no claim to any property any longer, and also being incorporated, the owner is not personally liable for said business and its failings during a bankruptcy or any other time unless intentional harm is being done and is proven. Good luck trying to prove the corporate owner was intentionally trying to fuck you out of your $1000 gaming rig that was in for service/rma/whatever when its seized and thounsands/millions are owed to vendors.

 

its a shitty situation, but thats the beans when the writing is on the wall, and people still want to deal with a corporation that has an owner that is deliriously trying to hold on to their baby until the very last breath can be taken, it is very often customers, employee's, vendors get royally fucked. 

 

Thems the beans, as for suing, lol ok sue the companies office and court system. see how far that gets you  

[Canada EH]

10 hours ago, Delicieuxz said:

criminal act to sell other people's systems

hahahahaha

I just mentioned a few cases off the top of my head that were in the news, primarly the consignment dealership with the multi-felon thief owner being granted a license and scamming 50 or so people out of their $50K+ and authorities finding the vehicles, and not returning them to the rightful owners. Those people are still making monthly payments on a vehicle they do not own.

[Delicieuxz]

10 hours ago, FlatBrokeRacing said:

sigh.... if you want to know the answers to the legality of the issues at hand i wrote a long response in the floatplane subsection on this.

 

but a quick recap, when a company goes bankrupt and into receivership, the courts order a bailiff to lock the facilities down. The owner of the company no longer owns anything stored in or on the premises, nor has access to anything on the premises just like employee's or anyone else that worked there. So anything in or on the premises be it property of ncix or not is locked inside. if you are an employee or a consumer, with personal items/goods inside, it is up to the owner of said items to prove they have items in there, and that those items are theirs (generally invoices are not enough, things like service paperwork, serial numbers, photos are required as invoices have no specific identifiers and any tom dick and harry can walk up and say "hey i have a i7 7700k in there with blah blah blah". A bailiff and a trustee will usually be on hand for a couple of days time to allow this to happen but generally there is a specific time frame setup, and can also be difficult to know unless you act on it ASAP. Anything not claimed in said time period are inventoried and auctioned. So yes say if someone from out of province had things in there for RMA, or warranty, or service it can be extremely difficult (as in 99% impossible) to get their items back, as you would have to show up in person (a bailiff and the courts are not going to itemize something and ship it for you).

 

you have to remember, when bankruptcy is filed at this corporate level, the company is dissolved through the courts, the owner technically no longer owns said company and holds no claim to any property any longer, and also being incorporated, the owner is not personally liable for said business and its failings during a bankruptcy or any other time unless intentional harm is being done and is proven. Good luck trying to prove the corporate owner was intentionally trying to fuck you out of your $1000 gaming rig that was in for service/rma/whatever when its seized and thounsands/millions are owed to vendors.

 

its a shitty situation, but thats the beans when the writing is on the wall, and people still want to deal with a corporation that has an owner that is deliriously trying to hold on to their baby until the very last breath can be taken, it is very often customers, employee's, vendors get royally fucked. 

 

Thems the beans, as for suing, lol ok sue the companies office and court system. see how far that gets you  

Keep in mind that it isn't a surprise to company management that they filed for bankruptcy and now can't access in-store materials. Once it's decided they're going to file for bankruptcy, they then make preparations to file for bankruptcy. Included in those preparations would likely be stopping accepting any more PCs for servicing, and notifying all service-centre customers to pick up their PCs. Arrangements would likely be made with anyone who needed some extra help to get their PC or of the shop in time.

 

NCIX wouldn't be running at full normal capacity one day, and then file for bankruptcy the next. And I think there was some time between rumors that NCIX was approaching bankruptcy, and their actual filing for bankruptcy.

 

 

Here's an article about what can be done to retrieve personal items caught up in a bankruptcy. It concerns U.S. law, though, while NCIX is a Canadian company, and so the exact rules could be different.

 

http://www.nytimes.com/1991/02/23/news/if-a-shop-closes-with-your-item-inside.html

[FlatBrokeRacing]

ncix follows Canadian law, american law, rules, and/or regulations need not apply here.

 

and generally yes when a company prepares for bankruptcy it can happen in many ways. sometimes the complete preparation for it is not completed, generally dwindling staff, frustrated staff, many things dont happen as easily and fluently as you describe. I mean people were still buying things from their website for crying out loud even AFTER they were bankrupt.

 

It is often seen as the writing being on the wall, but generally when it comes to bankruptcy most owners are trying to hold on till the last breath, meaning they are trying to get every last penny struggling to survive (eg, when NCIX closed all locations and moved to their main office, customer items were transferred there, and then notices were displayed on doors, and then a very short time later bang gone). 

[Canada EH]

Sears is a prime example here