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 R3m. Four of the creditors were staff members, all of who were unfairly dismissed or retrenched
Although PYM is in liquidation the business of PYM is still in operation, under the following;
Professional Yacht Management Holdings (Pty) Ltd is the new 'umbrella company' running the business of the exact same 2 divisions of PYM with the Same:
Director
Premises
Phone & Fax
Office equipment
Moorings & Yacht
Websites
Social media
Intellectual property
PYM Holdings is continuing to operate the business of PYM 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 of PYM have been abandoned 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 has committed to erase all debt while still continuing to operate the same business under a new umbrella.
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