Re: NAFA Speaks again ....
[Re: Catcollector]
#6657190
11/04/19 03:21 PM
11/04/19 03:21 PM
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Joined: Apr 2016
Posts: 796 Labrador, Canada
crosspatch
trapper
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trapper
Joined: Apr 2016
Posts: 796
Labrador, Canada
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Well in the age of litigation this is interesting. Some might be interested to Google "North American Fur Auctions Wikipedia". Says NAFA went into recievership and some pretty strong words about the CEO's role in the company's downfall.
Last edited by crosspatch; 11/04/19 03:34 PM.
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Re: NAFA Speaks again ....
[Re: crosspatch]
#6657211
11/04/19 04:02 PM
11/04/19 04:02 PM
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Joined: Apr 2016
Posts: 796 Labrador, Canada
crosspatch
trapper
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trapper
Joined: Apr 2016
Posts: 796
Labrador, Canada
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More: Google "Insolvencies Deloitte North American Fur Auction"
What a tangle - letters from Dutch tax authorities in the mix here too
Last edited by crosspatch; 11/04/19 04:09 PM.
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Re: NAFA Speaks again ....
[Re: Actor]
#6657254
11/04/19 05:34 PM
11/04/19 05:34 PM
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Joined: Oct 2015
Posts: 1,076 Maine
mainer
trapper
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trapper
Joined: Oct 2015
Posts: 1,076
Maine
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I haven't had the chance to go through them, but here's the link to NAFA's court docs, etc. -- bottom of page under CCAA Documents. https://www.insolvencies.deloitte.ca/en-ca/pages/NorthAmericanFurAuctionInc.aspx
Last edited by mainer; 11/04/19 05:35 PM.
"...in a very few days we succeeded in taking over one hundred beaver, the skins of which were worth ten dollars per pound." Jim Beckwourth (1856)
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Re: NAFA Speaks again ....
[Re: kingrat]
#6657277
11/04/19 06:02 PM
11/04/19 06:02 PM
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Joined: Dec 2011
Posts: 53 Alberta
Moose maniac
trapper
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trapper
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Posts: 53
Alberta
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Some really good info, they owe cibc in excess of 30 million. I read on another forum that they officially filed for bankruptcy today it comes from a fur buyer that would know
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Re: NAFA Speaks again ....
[Re: mink99]
#6657300
11/04/19 06:29 PM
11/04/19 06:29 PM
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Joined: Feb 2010
Posts: 8,563 Henderson, N.Y. Jefferson Co.
walleyed
trapper
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trapper
Joined: Feb 2010
Posts: 8,563
Henderson, N.Y. Jefferson Co.
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Wasn't NAFA majority owned by mink ranchers. ?
Wasn't the majority of the NAFA Board of Directors comprised of Mink Ranchers ?
Didn't that board of directors make decisions that bankrupted the company ?
Didn't these Mink Ranchers make a decision NOT to pay trappers
for their fur sold at Auction ?
Did these Mink ranchers not conceal that fact, and make up excuses,
withhold pertinent information, and string the trappers (victims) along ?
Is this Ex-company of Mink Ranchers now holding unsold trapper fur hostage
with no intention of paying for, or returning the fur to trappers?
I'd say regardless of how NAFA's Mink ranchers got to where they are now,
they certainly fit the description of ripping off trappers.
w
Yes Don’t know Don’t know No No No Get some real evidence and I will believe you. Right back at you mink99. Ditto. How about YOU show me some real evidence that what you say above is anything more than your unsupported opinion, and I'll take it under consideration. I don't have a skin in this game of flim-flam & bamboozlement of hard working trappers but I have personally witnessed, and called attention to NAFA's long history of unethical and underhanded business tactics towards trappers, and towards FHA over the last 20 years and lucky for me I didn't have fur consigned or sold by NAFA during the last three or four years. I really feel bad for those of my fellow trappers who were taken for a ride. w
"Provisional/Interim" member of NYS Trappers Association Jefferson Co. Fur Harvesters
I Support Non-Resident Trapping
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Re: NAFA Speaks again ....
[Re: kingrat]
#6657308
11/04/19 06:44 PM
11/04/19 06:44 PM
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Joined: Dec 2006
Posts: 20,082 SEPA
Lugnut
trapper
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trapper
Joined: Dec 2006
Posts: 20,082
SEPA
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Some really good info, they owe cibc in excess of 30 million. Holy Crap!
Eh...wot?
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Re: NAFA Speaks again ....
[Re: kingrat]
#6657316
11/04/19 06:54 PM
11/04/19 06:54 PM
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Joined: Jan 2007
Posts: 1,047 Iowa
mink99
trapper
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trapper
Joined: Jan 2007
Posts: 1,047
Iowa
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Anyone that still thinks mink ranchers didnt sink nafa maybe read some of those court files. You do understand how the loan agreements worked dont you? Nafa would give out loans to some mink ranchers ( a lot of ranchers don’t need loans) in return the ranchers consigned the pelts to nafa. Therefore nafa had the pelts to sell and get commission. Now as the price of mink tumbled, the commissions became less and less and the loans were never paid back. So you can say because of the ranches going broke and not paying back the loans they brought down nafa. Problem is who gave the loans? Those operating on the financial side of things, like Doug Lawson, former ceo of nafa. Who is also not a mink rancher. I know another lady that worked in the financials who also wasn’t a mink rancher. Bottom line is nafa mismanagement and greed, yes greed, sunk nafa. Not all these evil mink ranchers. As loans were given out to fur shops in China too
ITA, NTA, FTA
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Re: NAFA Speaks again ....
[Re: kingrat]
#6657321
11/04/19 06:56 PM
11/04/19 06:56 PM
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Joined: Jan 2007
Posts: 1,047 Iowa
mink99
trapper
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trapper
Joined: Jan 2007
Posts: 1,047
Iowa
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Some really good info, they owe cibc in excess of 30 million. Nafa once claimed to have over $50 million cash to there name. Thing is this was actually rancher deferred money that nafa was paying interest on. So that was a big fat nafa lie.
ITA, NTA, FTA
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Re: NAFA Speaks again ....
[Re: Actor]
#6657332
11/04/19 07:04 PM
11/04/19 07:04 PM
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Joined: May 2011
Posts: 16,609 Oakland, MS
yotetrapper30
trapper
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trapper
Joined: May 2011
Posts: 16,609
Oakland, MS
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I think when people say the "mink ranchers sunk NAFA", what they really mean is "the people in NAFA overextending the company to provide advances to the mink ranchers sunk NAFA".... which is pretty much exactly what you just said.
~~Proud Ultra MAGA~~
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Re: NAFA Speaks again ....
[Re: yotetrapper30]
#6657343
11/04/19 07:30 PM
11/04/19 07:30 PM
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Joined: Jan 2012
Posts: 683 saskatchewan canada
kingrat
trapper
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trapper
Joined: Jan 2012
Posts: 683
saskatchewan canada
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I think when people say the "mink ranchers sunk NAFA", what they really mean is "the people in NAFA overextending the company to provide advances to the mink ranchers sunk NAFA".... which is pretty much exactly what you just said. Yes that's what I mean, had nafa not been a bank for the ranchers we wouldnt be having this conversation.
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Re: NAFA Speaks again ....
[Re: mainer]
#6657344
11/04/19 07:31 PM
11/04/19 07:31 PM
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Joined: May 2011
Posts: 16,609 Oakland, MS
yotetrapper30
trapper
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trapper
Joined: May 2011
Posts: 16,609
Oakland, MS
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Open up the "Application Record - October 31, 2019.pdf" file and read the subsection: "Need for DIP Funding to Fund KIT Loans". It begins on the 51st page of the PDF document. There's 658 pages to this document; I should finish reading it this evening. So if I am reading this right, the mink ranchers were still receiving money from NAFA AFTER the trappers' checks bounced???
~~Proud Ultra MAGA~~
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Re: NAFA Speaks again ....
[Re: mink99]
#6657347
11/04/19 07:37 PM
11/04/19 07:37 PM
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Joined: Jan 2012
Posts: 683 saskatchewan canada
kingrat
trapper
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trapper
Joined: Jan 2012
Posts: 683
saskatchewan canada
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Anyone that still thinks mink ranchers didnt sink nafa maybe read some of those court files. You do understand how the loan agreements worked dont you? Nafa would give out loans to some mink ranchers ( a lot of ranchers don’t need loans) in return the ranchers consigned the pelts to nafa. Therefore nafa had the pelts to sell and get commission. Now as the price of mink tumbled, the commissions became less and less and the loans were never paid back. So you can say because of the ranches going broke and not paying back the loans they brought down nafa. Problem is who gave the loans? Those operating on the financial side of things, like Doug Lawson, former ceo of nafa. Who is also not a mink rancher. I know another lady that worked in the financials who also wasn’t a mink rancher. Bottom line is nafa mismanagement and greed, yes greed, sunk nafa. Not all these evil mink ranchers. As loans were given out to fur shops in China too Seeing as how nafa is owned 70% by mink ranchers I guess you could understand where all the pressure to do business how they were came from. Bottom line if the evil mink ranchers paid there loans back nafa would be ok.
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Re: NAFA Speaks again ....
[Re: kingrat]
#6657351
11/04/19 07:43 PM
11/04/19 07:43 PM
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Joined: Feb 2015
Posts: 776 MN, USA
star flakes
trapper
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trapper
Joined: Feb 2015
Posts: 776
MN, USA
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You do understand how the loan agreements worked dont you? Nafa would give out loans to some mink ranchers ( a lot of ranchers don’t need loans) in return the ranchers consigned the pelts to nafa. Therefore nafa had the pelts to sell and get commission.
Now as the price of mink tumbled, the commissions became less and less and the loans were never paid back.
So you can say because of the ranches going broke and not paying back the loans they brought down nafa. Problem is who gave the loans? Those operating on the financial side of things, like Doug Lawson, former ceo of nafa. Who is also not a mink rancher. I know another lady that worked in the financials who also wasn’t a mink rancher.
Bottom line is nafa mismanagement and greed, yes greed, sunk nafa. Not all these evil mink ranchers. As loans were given out to fur shops in China too [/quote] Seeing as how nafa is owned 70% by mink ranchers I guess you could understand where all the pressure to do business how they were came from. Bottom line if the evil mink ranchers paid there loans back nafa would be ok.[/quote]
The correct summation of this all is, honest Trappers in Canada and the United States were robbed by a number of unscrupulous people, and the Trappers are the ones who are paying NAFA's globalist debts, while many can not pay their own.
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