• Login:
Welcome, Register Here
follow PropertyTalk on facebook follow PropertyTalk on twitter Newsletter follow PropertyTalk on LinkedIn follow PropertyTalk on facebook
Page 1 of 2 1 2 LastLast
Results 1 to 10 of 11

Thread: Symphony Group

  1. #1
    Join Date
    Oct 2007
    Posts
    322

    Default Symphony Group

    Whats your thoughts on this company? Headed by Colin reynolds.
    Currently doing the albany city project

    www.symphony.co.nz
    www.albanycity.co.nz

  2. #2
    Join Date
    Jan 2006
    Location
    Wellington
    Posts
    559

    Default

    Colin Reynolds formerly of Chase Group. Bankrupt in the 87 crash
    Doug

  3. #3

    Default

    not so...washed their hands and ran...statutory management...ask Ollie they took his 'baby' off him!

  4. #4
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,296

    Default

    How are you intending to be involved with these guys Markw1? As an investor?

  5. #5
    Join Date
    Oct 2007
    Posts
    322

    Default

    How was ollie involved?

    Story on symphony. Looks like its going to default to bond holders:
    http://www.nzherald.co.nz/property/n...ectid=10577438

  6. #6
    Join Date
    Oct 2007
    Posts
    322

    Default

    Quote Originally Posted by Davo36 View Post
    How are you intending to be involved with these guys Markw1? As an investor?
    No, Just interested as these guys are one of the last large developers left.

  7. #7
    Join Date
    Mar 2007
    Location
    Auckland
    Posts
    2,999

    Default

    I was an investor in MFL property fund.
    An ex-MP (Burton) got involved.
    ING took MFL over (against the wishes of most MFL investors, who were never asked).
    ING and ANZ (regularly rated as the worst trading bank in NZ) became a duet.
    They sold all of the MFL property to Symphony Group, in exchange for a pile of paper (again, the MFL investors were never asked).
    I took one look at Burton, the Chase/Symphony people, and ANZ and worked like the devil to be able to get my investment out in cash. Which I did.
    Thank God for that - look where ING is now!

    Personally I wouldn't trust these people with a used condom.

  8. #8
    Join Date
    Jun 2010
    Posts
    167

  9. #9
    Join Date
    Mar 2007
    Location
    Auckland
    Posts
    2,999

    Default

    Case proven.

  10. #10
    Join Date
    Sep 2010
    Location
    Auckland
    Posts
    24

    Default

    How on earth can a company raise $23.5m, then end up owing $76.5m with zero assets?

    Smells fishy to me, hard to spend $100m with nothing to show for it...
    “Obstacles are things a person sees when he takes his eyes off his goal.”


 

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Oyster Property Group
    By whatmakesmehappy in forum Property Investment (NZ)
    Replies: 15
    Last Post: 15-04-2010, 09:09 AM
  2. circle group
    By nzraw in forum Property Investment (NZ)
    Replies: 3
    Last Post: 08-03-2010, 03:42 PM
  3. Looking for iAdvise group
    By AMR in forum Property Investment (NZ)
    Replies: 1
    Last Post: 03-12-2009, 10:30 PM
  4. H.I.A Group Ltd
    By dongiblin in forum Property Investment (NZ)
    Replies: 7
    Last Post: 27-07-2009, 07:51 PM
  5. Who is Actual property group?
    By whitt in forum Property Investment (NZ)
    Replies: 12
    Last Post: 03-05-2008, 10:54 PM
  6. Anaro Group
    By Glenn in forum Commercial Property (NZ)
    Replies: 2
    Last Post: 14-11-2007, 11:32 AM
  7. APIA: Nth Shore Group 24/7/07
    By Propoholic in forum Property Investor Associations (NZ)
    Replies: 0
    Last Post: 23-07-2007, 10:21 PM
  8. APIA: Western Group 4/7/07
    By Propoholic in forum Property Investor Associations (NZ)
    Replies: 0
    Last Post: 28-06-2007, 12:31 PM
  9. APIA:Western Group 6/6/07
    By Propoholic in forum Property Investor Associations (NZ)
    Replies: 0
    Last Post: 04-06-2007, 10:44 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •