Thank you for your post Joshuatree.
I was expecting a bit of flack!!
It is difficult for people with all their capital tied up in their home.What are they to do? Sell the house so the kids can have a good inheritance,and then go jump off a cliff?
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I dont read the NYT but the NZ Hearld has lots of articles like that - you know the type - the mother of 5 kids and another on the way cant afford to feed her family. Or the family think the retirement village riped of their parents bacause they dont get the 'capital gain' even though their parents loved living there and knew that when they signed up.
As I said, I only read the first paragraph - I had no sympathy for the 'kids' that their inheritance was spend by the parents who earned it.
I am sure Heartland will do it right so that their reputation is intact.
Some parents are really not nice people at all, and their sensible children get and stay as far away as possible. I know a couple of seriously nasty ones, one rather close to home. Only a minority I hope, but still, abandoned olds may be the authors of their own misfortune. They are not all apple pie baking grandmas and stern but fair patriarchs. We will likely never know the reasons, but that doesn't mean there are none.
Looks like we have a buyer. I wonder if HNZ will get their money back?
http://www.stuff.co.nz/business/indu...from-receivers
She was driven to suicide by her bank losing her cash trading the derivatives' markets.
We know it as the GFC.
What a lot of people don't know is she thought she had her cash in Bear Stories,which she had always enjoyed,but it turned out to be Bear Sterns who went broke.
HNZ is a secured creditor. IRD will have priority. Are there any back wages owed? Unsecured trade creditors will be last in line.
As an aside. is the liquidator/receiver Gary Whimp connected to the Whimp who was behind the low-ball offers for various NZX listed companies?