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Peter Stevens Motorcycles - Appointed Voluntary Administrators

  • paulybronco
    paulybronco
    28 days ago
    There's been a bit going on with the Chiodo family with Paul's son Mark dying in the last week or so as a result of falling from a balcony. His dad Paul Chiodo is currently under investigation/court over the $480 million Shield Master Fund. Allegations revolve around a series of transactions that appear to be suspicious including a 4.3mil apartment bought in his wives name from that fund along with concerns included investor funds allegedly being used in relation to:
    $154 million paid to a builder, the builder's company and related entities for Chiodo Corporation's residential projects based only on oral agreement. The builder was unlicensed in Queensland until recently.
    $6.8 million for personal expenses for Mr Chiodo.
    $644,000 paid for events with sports stars, including boxers Floyd Mayweather ($302,000) and Tyson Fury ($110,000), NBA player Josh Giddey ($100,000) and former NBA player Allen Iverson ($132,000).
  • tussuck
    tussuck
    28 days ago
    Quoting paulybronco on 19 May 2025 09:38 AMedited: 19 May 2025 09:43 AM

    There's been a bit going on with the Chiodo family with Paul's son Mark dying in the last week or so as a result of falling from a balcony. His dad Paul Chiodo is currently under investigation/court over the $480 million Shield Master Fund. Allegations revolve around a series of transactions that appear to be suspicious including a 4.3mil apartment bought in his wives name from that fund along with concerns included investor funds allegedly being used in relation to:

    $154 million paid to a builder, the builder's company and related entities for Chiodo Corporation's residential projects based only on oral agreement. The builder was unlicensed in Queensland until recently.
    $6.8 million for personal expenses for Mr Chiodo.
    $644,000 paid for events with sports stars, including boxers Floyd Mayweather ($302,000) and Tyson Fury ($110,000), NBA player Josh Giddey ($100,000) and former NBA player Allen Iverson ($132,000).

    OMG..... why the fuck are rich pricks so low!  falling or pushed!
  • 408
    408
    28 days ago
    Quoting paulybronco on 19 May 2025 09:38 AMedited: 19 May 2025 09:43 AM

    There's been a bit going on with the Chiodo family with Paul's son Mark dying in the last week or so as a result of falling from a balcony. His dad Paul Chiodo is currently under investigation/court over the $480 million Shield Master Fund. Allegations revolve around a series of transactions that appear to be suspicious including a 4.3mil apartment bought in his wives name from that fund along with concerns included investor funds allegedly being used in relation to:

    $154 million paid to a builder, the builder's company and related entities for Chiodo Corporation's residential projects based only on oral agreement. The builder was unlicensed in Queensland until recently.
    $6.8 million for personal expenses for Mr Chiodo.
    $644,000 paid for events with sports stars, including boxers Floyd Mayweather ($302,000) and Tyson Fury ($110,000), NBA player Josh Giddey ($100,000) and former NBA player Allen Iverson ($132,000).


    How many wives did he have ?
  • steelo
    steelo
    25 days ago
    It’s interesting that it’s hard to find any words of support or genuine grief for ps. Not even a topic of discussion on bike rides. Probably will mean that it’ll be harder and longer to get service or parts at the Indy’s if they do fail. 
  • Hilly
    Hilly
    24 days ago
    Hey Steelo, I've had no personal experience with PS but mate I've seen a lot of negative stuff written about them by those that have or claim to have had dealings, that might have a bit to do with the lack of empathy towards them, always a shame to see people lose their jobs and as you say it could well impact others, if they were a well liked enterprise I guess we would be seeing more support?
  • paulybronco
    paulybronco
    24 days ago
    I believe that there is some circling by other major players in the industry keen to pick up the bones. Seems like they are able to trade till EOFY before the administrators make the call to knock it on the head or sell it off. A betting person may mention Team Moto in this space...
  • paulybronco
    paulybronco
    24 days ago
    Guess that if a major player gets involved then we end up with a cartel able to dictate the prices and a bit like what's happened with both Mercedes and Honda there is no negotiation on price regardless what dealer you go to. Anyway stay tuned more to unpack i am sure.
  • Jay-Dee
    Jay-Dee
    24 days ago
    Quoting steelo on 23 May 2025 12:56 AM

    It’s interesting that it’s hard to find any words of support or genuine grief for ps. Not even a topic of discussion on bike rides. Probably will mean that it’ll be harder and longer to get service or parts at the Indy’s if they do fail. 

    It's good to see you back steelo, it's been awhile (unless I've somehow missed posts before this one).
  • Uncle Ho
    Uncle Ho
    18 days ago
    Quoting paulybronco on 23 May 2025 10:57 AM

    Guess that if a major player gets involved then we end up with a cartel able to dictate the prices and a bit like what's happened with both Mercedes and Honda there is no negotiation on price regardless what dealer you go to. Anyway stay tuned more to unpack i am sure.

    In my experience there never was any negotiation... the sales guy even apologised that he could not discount. Got over a grand off through M&W
  • Soapbox2627
    Soapbox2627
    18 days ago
    My 2019 Roady, I phoned both Adelaide dealers, PS never got back to me, I rang Canberra HD and got it over $5k cheaper, with flights, Accom on the way home and with the accessories and rego, I was still about $1k saved, the parts taken off and gifts were posted to home by them, they were there before me overnight, I was very happy, i may have got it on the right day, time and place kind of thing
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