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Disco Bay Marina: Closing, 3 Months Notice

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  1. #1

    Join Date
    Aug 2011
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    Disco Bay Marina: Closing, 3 Months Notice

    What will they do? Where can they put the boats?

    https://www.scmp.com/news/hong-kong/...three#comments


  2. #2

    Join Date
    Dec 2009
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    6,714
    Quote Originally Posted by Ern:
    What will they do? Where can they put the boats?]
    Daisy chain them in front of the ferry terminal, or moor them off the DB beach would be a good start.

  3. #3

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    Quote Originally Posted by emx:
    Daisy chain them in front of the ferry terminal, or moor them off the DB beach would be a good start.
    That's taxi driver tactics!

    Turning out to be rather a sad tale. I hope something can be done for them.

    https://www.scmp.com/news/hong-kong/...faces-eviction

  4. #4

    The world of debentures. It's like playing Russian Roulette.

    Mrs. Jones likes this.

  5. #5

    Join Date
    May 2012
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    Discovery Bay Marina Club set to close at the end of the year.

    Quite something that 200 families will be "homeless" by then.

    Why don't they just, like, sail away? (I know nothing of boathouse logistics)

    https://www.scmp.com/news/hong-kong/...faces-eviction


  6. #6

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    Kids in school, employment, commute to work, lack of new mooring sites. Lots of reasons.There is no other mooring option in DB itself. It is like telling everyone in a block of flats to move because they are knocking the block down. Not that the DB management would consider any of that for a second.

    Ern, MABinPengChau, shri and 1 others like this.

  7. #7

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    wouldn't surprise me if "renovation" meant pouring concrete and building more flats


  8. #8

  9. #9

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    Debentures, moorings, club memberships, none of them seem worth paying a large lump sum up front as what can be guaranteed? Month by month costs OK, but no more.


  10. #10

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    Quote Originally Posted by Ern:
    Debentures, moorings, club memberships, none of them seem worth paying a large lump sum up front as what can be guaranteed? Month by month costs OK, but no more.
    Thing is, these folks are far more educated than the regular joe. I am sure they have a few lawyers, bankers and others who have access to experts or able read / qualify the risk on these agreements.

    Seriously wonder what went wrong here... surely people did not sign off on millions of dollars worth of debentures or agreements that could be terminated unilaterally at such short notice? Would the Marina management have accepted termination from their tenants on such short notice?

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