Complaint Review: Nordhavn - Dana Point California
Nordhavn PAE Pacific Asian Enterprises Do not provide unsecured deposits with this company so they can finish someone else's yacht. You have no security. Dana Point California
*Author of original report: Robert Conconi Response
*REBUTTAL Owner of company: PAE/Nordhavn response
As noted in other Ripoff Reports, there are many alarming factors when it comes to PAE. However, what is most staggering, is that as a PAE customer, once you provide a deposit and progress payments on the construction of your Nordhavn yacht, you are in effect giving unsecured loans to a company that is unable to borrow funds in a conventional manner. Some people, rightfully so, call this using other people's money. When a situation like this takes place with PAE, the main issue and problem that occurs results from the flow of new deposits slowing down the build out of your vessel.
In other words, PAE already spent the profit they will make on the construction of your vessel. At that moment, PAE owns your partially completed vessel in China and is contractually obligated to complete your Nordhavn yacht. In spite of this obligation, however, since PAE already spent the money, they lack the resources to complete the build out of your vessel. This leaves many customers afraid to "blow the whistle" on PAE, leaving many people silent and waiting for PAE to find another buyer/investor so they can finish your vessel.
My purpose with this post is to simply encourage every potential PAE client that wants a Nordhavn vessel to establish if there is any secure method the company will follow to build the yacht. Furthermore, I welcome any fact to be challenged in any formal manner. However, with that said, I have volumes of depositions on video and volumes of evidence from my trial that will refute any claims advanced by PAE. All of my information is in the public record and has been identified and admitted into the court file by individuals of PAE. Through my experience with PAE, in most cases, Dan Streech was advanced as the person most qualified and served as the top representative of PAE.
This report was posted on Ripoff Report on 11/26/2018 09:22 AM and is a permanent record located here: https://www.ripoffreport.com/reports/nordhavn/dana-point-california-92629/nordhavn-paepacific-asian-enterprises-do-not-provide-unsecured-deposits-with-this-compan-1468143. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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