The fallout and frustration from the demise of Oyster Marine Ltd seems set to continue for a while yet. This time its British Marine that’s under the firing line from some of its members who are still waiting for payment for goods that were supplied.
I’ve heard there are around 18 supply chain companies that are owed money by Oyster Marine (and look as if they won’t receive it).
And it’s because of this that many members are anti the new company – Oyster Yachts Ltd – joining BM and being allowed to exhibit at TheYachtMarket.com Southampton Boat Show.
Some have gone so far as to suggest that BM is more interested in selling show space and gaining members than looking after those it already has.
It does seem unfair that a company can become insolvent, be bought out and continue to trade and continue build the same orders as the previous company but not have to pay its suppliers.
And while BM says it is in talks with companies to put together a working group to tighten up on contracts and processes, some members say this is not enough action and the new Oyster Yachts shouldn’t be allowed to join the association or exhibit at the show.
It’s all very well BM saying under its rules it can’t delay any application and it’s in talks with the top boatbuilders to mitigate the situation should it occur again but perhaps it’s time the rules are revised and updated to ensure companies can’t join the association unless they have traded for a period of time?
Becoming a BM member and using its logo is supposed to show quality and trustworthiness, however how can a new company show they have passed the quality tests?
Does this mean every company that applies for membership will be accepted?
As one company affected by the non-payment for goods supplied pointed out, if Oyster Yachts had correct intent it would engage with those it let down and would come to an agreement.
Only once this has happened should membership be discussed.
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