A Central Otago boat builder has gone into voluntary liquidation amid accusations of boat stealing, thumb biting and a customer left in tears. But the owners of Hydro Marine Ltd say they are on the receiving end of a “Hydro hate club”. Hydro Marine was placed into liquidation by its shareholders Che and Rosie Watt last week. The company makes custom-built boats and trailers in Alexandra. A first liquidation report released on Monday said 15 secured and at least three unsecured creditors had been identified but more were expected as there were “potential claims from a number of customers” that were “still to be determined”. The Otago Daily Times spoke with several people who said they were owed money by Hydro Marine, but were unwilling to go on the record. A Cromwell man, who the ODT has agreed not to name, said he paid about $90,000 for a boat to be built. After complaining the roof was not put on, he said he was told to “f . . . off” and that he would be refunded. The man said he resorted to parking up at the company’s yard the day the money was due and waiting for about half a day. “Eventually, I got all the money from four different f . . . . . . bank accounts,” he said. While he managed to recover his money, the man said he had spoken to other people owed money and was concerned they might not get their money back. These were “grown men”, one of whom was “in tears”, the man said. Something like this could wreck lives and ruin marriages. “Imagine going home now to the wife and saying: ‘The boat that you weren’t that f . . . . . . impressed that I was getting, I haven’t got’. “I know a few of the boys said that was the worst part was their wives saying: ‘You f . . . . . . idiot’.” He was concerned as he believed Mr Watt was about to leave for Australia. The man also alleged Mr Watt “attacked” someone on top of a boat — which ended with Mr Watt being bitten and police called — and understood a boat had been reported stolen. [Missing Credit]Hydro Marine Limited, Boundary Rd, Alexandra. Photo: Carys Trotter The ODT put the claims to the Watts. Mr Watt said the Cromwell man was “p . . . . . off” that he never got a boat off them. He did not get his boat because he was difficult to work with, and the boat was sold once the man was repaid, Mr Watt said. Mrs Watt said the man was refunded in full for $75,000, not $90,000. Mr Watt alleged a boat had been taken from them, but said they had not yet reported it as stolen because they were told to find out legally who owned the boat. He also addressed the allegation he “attacked” someone. During what Mr Watt described as a “scuffle” on a boat with another man, he said he tried to grab the man’s phone and the man bit him. “He was biting on my thumb through to the bone, mate. “I put my fingers on his head trying to push him away, trying to get him off my f . . . . . . hand is all.” The pair had since reconciled, he said. Mrs Watt said she called the police, though no charges were laid in the end. Payments for boats were made in stages as boats were built, until the boat was finished. She acknowledged some people would be left out of pocket by the liquidation because Hydro Marine could not finish the boats. She did not invoice anybody after realising they might have to go into liquidation and the money was now with the liquidator, she said. “We are never, ever going into business again. “This has ruined our lives and reputation. “We are not trying to rip people off. “We have sold our whole household trying to keep this business going." They were on the receiving end of a “Hydro hate club” — a group of friends who had all ordered boats at the same time, she said. “And they are b . . . . . frothing over this. “They do not like us, and they want to see us fail.” The company was liquidated after a couple they built a boat for at Christmas last year then did not want it, Mrs Watt said. They had been trying to sell the boat ever since, to refund the $342,000 the couple had paid to-date. The couple “put a court order on us” that meant if the Watts could not come up with the money within 10 days, the couple would put them into liquidation, she said. They were worried that if forced into liquidation, unsecured clients might not be able to collect half-finished boats, but had since been advised to put the company into voluntary liquidation, Mrs Watt said. While they did not have any plane tickets booked and were “not running away”, Mr Watt had been offered a job in Australia, she said. “We need work. We’ve got 22c in our bank accounts.” The liquidator’s first report said the reasons given for the liquidation were “price increases not accounted for in costings, and a downturn in sales over the last 12-18 months”. There were 15 parties with security interests registered against the company. The liquidator was aware of outstanding entitlements owed to five employees. At least three unsecured creditors had been identified, and a complete list was ongoing as there were “potential claims from a number of customers that [were] still to be determined”, the report said. tim.scott@odt.co.nz
