crustyngrizzly 1,700 Report post Posted January 25, 2018 Headline in NBR today ''''Stallion sell off begins as creditors chase former rich lister Michael Tololi''' What stallions do they have? Quote Share this post Link to post Share on other sites More sharing options...
Nasrullah 180 Report post Posted January 26, 2018 Always sad when the small breeder loses their live foal guarantee!! Ruby 1 Quote Share this post Link to post Share on other sites More sharing options...
bazach 133 Report post Posted January 26, 2018 Echoes of Heaven, Ekraar. I see it doesn't look like Tony Mudgway is the Manager there anymore. scott_ 1 Quote Share this post Link to post Share on other sites More sharing options...
fitzy 143 Report post Posted January 26, 2018 About time this guy was run out of the business. Trail of unpaid bills wherever he goes. ADM, chevy86 and scott_ 3 Quote Share this post Link to post Share on other sites More sharing options...
jess 1,244 Report post Posted January 26, 2018 There are always plenty of little ppl burned in these situations too ... all the contractors & suppliers - and as Nas points out - even down to the people with LFG ... Don't know the details of this one but in general terms I've seen enough of the brazen types who run up the red type on the balance sheet - go into insolvency / bankruptcy - welch on all their liabilities (whilst often somehow managing to hang onto personal wealth & lifestyle via wives, trusts etc) - then re-invent themselves only to do it all over again. Never make good to their creditors. I don't know why people would even deal with those types. I guess in some cases they don't know their back-story .... scott_, La Zip and Insider 3 Quote Share this post Link to post Share on other sites More sharing options...
scott_ 2 Report post Posted September 1, 2018 Looks like you're right Jess. It looks to me like Michael Tololi has reinvented Linwood Park as Paradise Farms, and the contractors and suppliers aren't getting a penny. Julian Czerpak is standing the same horses at the same property this year. Czerpak looks like he fits the Tololi mould: https://www.thefreelibrary.com/Ex-trainer+in+row+over+secret+sale+ofhorses.-a0128124704 Breeder 1 Quote Share this post Link to post Share on other sites More sharing options...
scott_ 2 Report post Posted September 8, 2018 The latest rumour is that Tololi is behind both Paradise Farms and Newmarket Stud Ltd. Who knows what to believe, but it could be true. Bruce Pamatatau and Newmarket Stud Ltd is based at the same address as Grant Reynolds - the receiver who Tololi chose to run LPSL's receivership. Instead of selling LPSL's 25% share of Echoes of Heaven to pay out LPSL's creditors, Grant Reynolds took it for himself. Newmarket Stud Ltd have now bought the other 75%. Newmarket Stud Ltd says on their website that they are using Czerpak as their studmaster. Sounds dodgy to me. If I was doing any business with either of these companies, I'd be asking for payment up front. Breeder 1 Quote Share this post Link to post Share on other sites More sharing options...
scott_ 2 Report post Posted September 9, 2019 You'll never believe what I just heard: Michael Tololi and Stuart Brauninger started up another company called Devon Street Properties Limited. Then LPSL receivership hasn't even finished yet, and the recievers report says LPSL owes over a million bucks. But instead of paying what they owe, they've already got a new company up and running! Then in May the new company got transferred to Paul Bright. Paul used to work for Asset Finance - the same Asset Finance with a big loan to LPSL in the receivers report. I wonder what the story is there? Anyone wanna take bets on how long til this one goes bankrupt? (All details on the Companies Office website if anyone wants to check for themselves.) Quote Share this post Link to post Share on other sites More sharing options...