Some newsagents have expressed their concern to the ANF about the contact the organisation reported last week as having had with Mobius Financial Services Pty Limited over the Bill Express related equipment lease a arrangements.
The ANF did not seek approval from newsagents prior to making contact with Mobius. The concerned newsagents want the ANF to cease such contact as it does not act on their behalf and has not sought their advice on this matter.
The key focus now of newsagents in the wash up of the collapse of Bill Express is the status of the Bill Express related equipment rental. Some newsagents have as much as four years of $495 (+GST) a month to pay. Many newsagents entered into these lease agreements with technology Business International on the recommendation and endorsement of the ANF.
Mobius, an Allco company, bought the lease book from Technology Business. I have put some questions to the liquidator of Technology Business to see whether visibility can be gained around the agreement with Mobius.
Did Mobius buy the book from TBI or has TBI recently bought the book back from mobius. I find this a rather confusing situation. TBI is in liquidation, and Mobius this month appears to have lost is AFS licence, if Mobius has lost their licence how would this effect their ability to operate a financial services business…… I am only guessing, but I think it will turn out that the leases contracts are owned by another Technology Business Company…. Anyone have any ideas
Simon,
Any DD Code that BX, Mobiuos TBI Perpetual Nominees, CHP have used in the since we have signed up are STILL OPEN at our banks
You have to close all of the access codes.
The difficult one is the
Perpetuel Nominees Limited APCA user ID Number 208190.
This is the CODE that TBI set up in March this year and has used yet in my account.
believe the safest bet is still close that bank account down and open another.
what if they obtain another code the next time.
Helen,
If you open a new account, there is no access agreement between you and TBI or mobius for the new account account
The main aim of stopping the direct debit is to stop them from getting the mthly rental amount in the meantime while the whole mess is sorted out.
Closing down the bank account just secures my position further in the sense that they are unable to draw using any other codes.
yes, it’s still to be established whether they still have the legal right to draw funds from us following the collapse of BillExp.
From the way I see it, the contract is now one-sided, unable to be fulfilled, hence we should have the right for contract to be terminated on these grounds.
In the meantime any further rental paid to them would end up in secured creditors coffers at the end of the day even if it was legally decided that we shouldn’t have to pay.
as unsecured creditors, we would not see any full pennies back.
so better the money in my pocket now than others!!!
Hi all
has anyone received a letter of demand from Mobius?
I have forwarded mine to the QC
have just received mine today and will doing the same thing ie to forward it to the QC as instructed before.
we also have received from a couple of calls from other newsagents who are panicking now about the letter and have not joined the class action.
Is this class action limited to ANF (or other group) members?
no, this is the class action instigated under NANA (NSW), it is not limited entry.
we joined about 2-3 mths ago. not sure whether still open.
best to contact NANA and check with them.
If you go back on the Bill Express Blog, Mark provided the details to join the Class action, you just need to email your intentions, its very easy
We’re in Qld, but thanks Helen.
Wen,
I believe the NANA class action is not limited by state or association membership.