Professional Yacht Management (PYM) consisted of 2 divisions:
1- Offshore Sailing Academy
2- Fountaine Pajot Dealership (Yacht sales)
The company owes various creditors in the region of R4m. Four of the creditors were staff members, all of who were unfairly dismissed or retrenched
Although PYM is in liquidation; Offshore Sailing Academy is still in operation, under the following 'umbrella';
Professional Yacht Management Holdings (Pty) Ltd, with the Same:
Director
Premises
Phone & Fax
Office equipment
Moorings & Yacht
Websites
Social media
Intellectual property
Offshore Sailing Academy is continuing to operate and generate income but none of the creditors are being paid their due.
All of the assets, equipment and materials that are needed to run the business have been abandoned (in the liquidation process) to Ocean Trust - Libby is the member of this trust!
It is common knowledge that this is not the first time this same company has done the same thing!
To sum up; PYM and Offshore Sailing Academy have erased all debt by liquidating but are still continuing to operate the same business!
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