MIRA
INFORM REPORT
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Report Date : |
16.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
LOMBARD
THE PAPER PEOPLE PTY LTD |
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Registered Office : |
9
Harrick Road, Keilor Park, Vic 3042 |
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Country : |
Australia
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Date of Incorporation : |
3
January 1969 |
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Legal Form : |
Proprietary
Company, Limited By Shares |
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Line of Business : |
Supplies
hospitality food packaging products and party goods |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable
to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REGISTERED NAME: |
LOMBARD THE PAPER PEOPLE PTY LTD |
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AUSTRALIAN COMPANY NUMBER: |
004 757 662 |
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AUSTRALIAN BUSINESS NUMBER: |
77 004 757 662 |
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OPERATING ADDRESS: |
9
Harrick Road, KEILOR PARK, VIC 3042 |
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REGISTERED ADDRESS: |
9
Harrick Road, KEILOR PARK, VIC 3042 |
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OTHER TRADING NAMES: |
Nil |
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TELEPHONE NUMBER: |
(03)
8331 1111 |
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FAX NUMBER: |
(03)
8331 1122 |
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WEB SITE ADDRESS: |
www.lombard.com.au |
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DATE OF INCORPORATION: |
3
January 1969 – Incorporated in Victoria
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CHANGE OF NAME: |
Nil |
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PAID CAPITAL: |
$24 in
$1 shares. |
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DIRECTORS: |
CLAUDE LOMBARD 55
Dunlavin Road, MITCHAM,
VIC 3132 SUSAN LOMBARD 55
Dunlavin Road, MITCHAM,
VIC 3132 |
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SHAREHOLDERS: |
Refer HISTORY |
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SECRETARY: |
PAUL EDWARD PARADISO |
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AUDITORS: |
Not
shown |
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REGISTERED CHARGES: |
Refer REGISTERED CHARGES |
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PAYMENTS: |
Refer TRADING |
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LEGAL ACTIONS / DEFAULTS: |
Refer RECORDED ACTIONS |
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EMPLOYEES: |
130 |
PARENT COMPANY
NIL
ACTIVITIES
Lombard
The Paper People currently supplies hospitality food packaging products, party
goods and holds exclusive licenses for visual display merchandise for events.
The subject undertakes the supply of paper products to the catering industry and also operates 7 retail party shops.
Operations are conducted from leased premises situated at the heading address.
The company has warehouses in New South Wales, Queensland and Western Australia.
The subject
employs 130 in activities.
HISTORY
The
subject was incorporated in Victoria on 3 January 1969 as Lombard The Paper People Pty Ltd, being an Australian Proprietary
Company, Limited By Shares.
Australian
Company Number: 004 757 662.
Paid capital
$24 in 24 shares paid to $1 each.
Shares are held by:
CLAUDE
LOMBARD 23
SUSAN
LOMBARD 1
The
above information is in accordance with the last Company Statement Annual
lodged with the Australian Securities and Investments Commission and compiled
at report date.
In 1967, Alexander and Madeline Lombard with their son
Claude established Lombard The Paper People from their home in Box Hill. From
the beginning, Lombard The Paper People revolutionised the paper industry by
pioneering new methods and practices that have now become industry standard.
By 1988 the business had grown to such an extent that
a larger facility was required, resulting in the relocation to a 5 acre Head
Office in Melbourne. With branches in Queensland, New South Wales, Western
Australia as well as Retial Outlets nationally.
Olympic
Games 2000
When Sydney was awarded the 2000 Olympic Games, Lombard The Paper People was
chosen to undertake the exclusive distribution of all food packaging and rest
room requirements for the 5 million visitors. The subject distributed 120
million items in 40 days.
The
2005 Lombard Fire
On
November 12th 2005 Lombard The Paper People Head Office experienced the largest
fire in Melbourne. The head office, distribution centre and main retail outlet
were all lost. Lombard had occupied this building for 14 years.
DIRECTORS
CLAUDE LOMBARD was born on 27 April 1943 and was appointed
to the board of directors on 3 January 1969. He is fully active in the day to
day operations of the company. He has had many years experience in his field of
activity.
SUSAN LOMBARD was born on 19 November 1944 and was
appointed to the board of directors on 11 May 1989.
Company
Secretary, Paul E Paradiso, was
appointed to his position on 3 January 1969.
BANK
HSBC
BANK AUSTRALIA
140
WILLIAM STREET,
MELBOURNE, VIC 3000
The
subject maintains bank overdraft facilities.
The bank
holds a Registered Charge over company assets. Please refer to the REGISTERED CHARGE section for details.
TRADING
Current
trade references have not been obtained.
FINANCE
Due to amendments to the Corporations Law by the First Corporate Law
Simplification Act 1995, subject is not required to lodge financial statements
with the Australian Securities & Investment Commission.
disclose the following inquiries in relation to finance applications:
On 20
December 2006 to Capital Commercial Finance Vic for Hire Purchase for an amount
of $120,000.
On 29
November 2006 to Aust Integrated Finance for Hire Purchase for an amount of
$20,000.
On 30
October 2006 to Capital Commercial Finance Vic for Leasing.
On 19
September 2006 to Capital Commercial Finance Vic for Hire Purchase.
On 17
August 2006 to Macquarie CFL Comm Lease Vic for Hire Purchase for an amount of
$50,880.
On 12
July 2006 to BOQ Equipment Finance ACT for Lending Proposal.
On 29
May 2006 to Macquarie CFL Comm Lease Vic for Hire Purchase for an amount of
$55,700.
On 22
March 2006 to Macquarie CFL Comm Lease Vic for Hire Purchase for an amount of
$106,923.
On 17
February 2006 to Capital Commercial Finance Vic for Hire Purchase for an amount
of $175,941.
On 13
February 2006 to Macquarie CFL Comm Lease Vic for Hire Purchase.
On 3
January 2006 to Aust Integrated Finance for Hire Purchase.
On 22
December 2005 to BOQ Equipment Finance Vic for Leasing for an amount of
$295,000.
On 31
August 2005 to Macquarie CFL Comm Lease Vic for Hire Purchase.
On 9
August 2005 to Capital Commercial Finance Vic for Leasing.
On 29
July 2005 to Macquarie CFL Comm Lease Vic for Hire Purchase for an amount of
$33,552.
On 21
April 2005 to Macquarie CFL Comm Lease Vic for Hire Purchase for an amount of
$38,558.
On 15
March 2005 to Macquarie CFL Comm Lease Vic for Hire Purchase for an amount of
$100,000.
On 19
January 2005 to Suncorp Leasing for Hire Purchase for an amount of $260,000.
On 8
November 2004 to Macquarie CFL Comm Lease Vic for Hire Purchase for an amount
of $80,303.
On 28
September 2004 to BMW Group Financial Services for Hire Purchase for an amount
of $60,000.
On 24 September
2004 to Capital Commercial Finance Vic for Hire Purchase.
On 1
July 2004 to BMW Group Financial Services for Hire Purchase for an amount of
$139,000.
On 4 May
2004 to S.E. Rentals Pty Ltd for Leasing.
On 2
April 2004 to BMW Australia Finance Ltd for Premium Finance.
On 19
January 2004 to Orix Australia Corp Ltd Vic for Hire Purchase.
On 9
July 2003 to Ford Credit Australia Vic for Hire Purchase for an amount of
$22,035.
REGISTERED CHARGES
The
following Registered Charge has been recorded over the subject’s assets:
On 15
September 2003, Fixed and Floating Charge to HSBC Bank Australia, ASIC Charge
No. 977093.
RECORDED ACTIONS
The
following has been recorded against the subject:
Court Actions:
ACTION
DATE: 19 APRIL
2005
AMOUNT: $3,084
CREDITOR: MICHAEL DEAN
PLAINT
NUMBER: 77047/05/2DWN
COURT
TYPE: DISTRICT COURT
ROLE IN
COURT ACTION: PRINCIPAL
INVESTIGATION
A number
of attempts have been made to contact Mr Aleck Duralacher, Accountant, in
January 2007, however on each occasion it has been advised he is unavailable
for interview.
Messages
have been left requesting he contact this office, however to date a reply has
not been received.
Should
additional information come to hand this will be sent to you as an addendum to this
report.
An
interview was conducted with Mr Duralacher in June 2005. At that time he
confirmed operational and trading details and advised the following:
Annual
sales of the company are in excess of $20,000,000.
Current
stock on hand is valued at $4,000,000.
Trade
debtors are valued at $3,500,000 and trade creditors at $2,000,000.
The
subject maintains bank overdraft facilities.
Premises
at the heading address are leased.
However,
further financial information could not be provided.
Enquiries
made with trade sources failed to trace any additional information in relation
to the subject.
A Land
Titles Search has not been undertaken to ascertain what land, if any, stands in
the subject’s name. This can be
undertaken on request.
CONCLUSION
The
subject was incorporated in Victoria on 3 January 1969 as Lombard The Paper People Pty Ltd, being an Australian Proprietary
Company, Limited By Shares.
Paid
capital $24 in 24 shares paid to $1 each.
The subject undertakes the supply of paper products to the catering industry and also operates 7 retail party shops.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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