Walton bankruptcy? Those who invested in Walton land banking, what will happen to your investment?

[wahkao3]

Walton bankruptcy? Those who invested in Walton land banking, what will happen to your investment?


I saw news that walton is seeking bankruptcy protection.
Those who are vested, what will happen?
are you affected?

http://www.barrowjournal.com/archiv...al-seeks-bankruptcy-protection-in-Canada.html

 

[Mecisteus]

wahkao got invest? Don't be shy to declare.

http://www.straitstimes.com/business/walton-international-in-creditor-protection

 

[havetheveryfun]

wow.. no wonder one of my friend from Walton jumped ship to sell insurance few months ago... the top agents definitely have insider info

 

[iperiodic]

wow.. no wonder one of my friend from Walton jumped ship to sell insurance few months ago... the top agents definitely have insider info

haha or maybe by that time the company downsizing already.

 

[havetheveryfun]

haha or maybe by that time the company downsizing already.

they don't have monthly pay one (Think commissions, or monthly pay but need to hit target etc) need to downsize meh ?

like insurance companies always welcome as many agents as they can get

 

[peaceheart]

This kind of scam still got people believe?

 

[wahkao3]

This kind of scam still got people believe?

walton has 20 yrs track record and delivered consistantly in the past

on hindsight its easy to see it maybe a scam. on foresight, how to tell?

 

[Shion]

Next, investments in cups of Pacific Ocean water ?

 

[peaceheart]

walton has 20 yrs track record and delivered consistantly in the past

on hindsight its easy to see it maybe a scam. on foresight, how to tell?

Yes true for those who bought during its early years. Cause iirc there were many negative reports on land banking 10 years back. Even sg MSM reported on it. So for those who took the risk despite the 'warnings', I assume they are prepared to pay the price?

 

[kehyi4]

Next, investments in cups of Pacific Ocean water ?

Water is getting scarcer by the day. There is already not enough water in many parts of the world. Water will be the resource countries will go to war over. In fact, water will be more valuable than oil: unlike oil, water is ESSENTIAL to life

Financial Times: Water set to become more valuable than oil

Get into the water business early and you'll be rich, Rich, RICH!

 

[delceer]

Walton bankruptcy? Those who invested in Walton land banking, what will happen to your investment?


I saw news that walton is seeking bankruptcy protection.
Those who are vested, what will happen?
are you affected?

http://www.barrowjournal.com/archiv...al-seeks-bankruptcy-protection-in-Canada.html

Jialat. What happen to those land ?

Sent from Nokia 8250 using GAGT

 

[Shion]

Water is getting scarcer by the day. There is already not enough water in many parts of the world. Water will be the resource countries will go to war over. In fact, water will be more valuable than oil: unlike oil, water is ESSENTIAL to life

Financial Times: Water set to become more valuable than oil

Get into the water business early and you'll be rich, Rich, RICH!

The world will be at wars because of water...

 

[Mecisteus]

walton has 20 yrs track record and delivered consistantly in the past

on hindsight its easy to see it maybe a scam. on foresight, how to tell?

I thought even a blind person also can tell.

 

[BBCWatcher]

Those who invested in Walton land banking, what will happen to your investment?

Assuming no fraud, i.e. that these Asian investors have and will maintain clear legal title to the land assets -- a big assumption! -- then investors will have something. Unfortunately they bought that land at above market rates, probably well above, at the same time the land had a comparatively high market value during the exploration boom that went bust. It's not free to hold that land. There are ongoing property taxes, and there will also be court-related costs to clean up this mess.

Those investors are getting whacked, a lot. Losses in the broad range of 50% to 100% would not surprise me.

 

[Mecisteus]

http://www.straitstimes.com/business/invest/better-safe-than-sorry

 

[wahkao3]

HK liao!

"TORONTO • Real estate investment and development firm Walton International Group and its 32 affiliates filed for creditor protection in a Canadian court last month after blaming two recessions for their financial turmoil.

The developer, which buys land in the path of anticipated growth and sells it at a profit, was involved in real estate projects spanning 42,500ha in North America, and had US$253 million (S$355 million) in liabilities, media reports said.

A Canadian court granted creditor protection in the last week of last month, giving time to Walton International and its affiliates to restructure under the Companies' Creditors Arrangement Act, the Financial Post reported earlier this week."

http://www.straitstimes.com/business/walton-international-in-creditor-protection

.............................

 

[Shion]

Goodbye to your money

 

[Shiny Things]

Here's a question: how on earth does a Canadian real-estate company go bankrupt when Canadian real estate is only a few ticks away from all-time highs?

Oh, right...

According to the published reports, Walton lost $67.3 million over the last three years. Its sales volume fell from $117 million in 2013 to just $20 million last year, a drop of 83 percent.

They ran out of suckers.

Is it tacky to do an end-zone dance on this one?

 

[sads666]

I invested in 2009 and still yet to be able to exit. Saw the recent bankruptcy news and asked for a assessment of how much I can get back if I were to sell it back to Walton. The report that I received was around 50% of what I put in; in a dilemma now knn

 

[NewInvestor]

I invested in 2009 and still yet to be able to exit. Saw the recent bankruptcy news and asked for a assessment of how much I can get back if I were to sell it back to Walton. The report that I received was around 50% of what I put in; in a dilemma now knn

50% and you still don't grab?