By DENNIS AMOR

GEIST caravans worth hundreds of thousands of dollars from failed Queensland importer Oakhurst International Caravans now belong to a finance company.

Ownership of the German-built caravans passed to secured creditor GE Commercial Corporation - which is understood to be owed around $4 million - following a recent court case.

Sales of Geist caravans and motorhomes in Australia were thrown into chaos after the Maryborough-based importer went belly-up in March with reported debts of up to $11 million.

GE Commercial Corporation declined to tell Caravanning News how many caravans they had acquired or give details about the case. Spokesperson Emma Rugge-Price told us: "We are not in a position to comment at this stage."

Oakhurst International Caravans, the major importer of Geist caravans and motorhomes, shut up shop after suffering a sales slump caused by the global recession, throwing Australian sales into chaos.

Yards at Maryborough in Queensland and Gosford in NSW were emptied of Geist caravans and owners were left in limbo over spares and warranty issues.

Vincents Chartered Accountants directors Peter Dinoris and Nick Combis were appointed liquidators after creditors resolved to wind up the company. "The company was flooded with stock from the overseas supplier that could not be sold in a timely manner," Mr Dinoris said.

"The liquidation of Oakhurst International is expected to run for at least a year. The liquidators will proceed to realise the balance of the floating assets of the company and investigate its affairs and transactions."

Oakhurst International Caravans also traded under the names Fraser Coast Caravans, Geist Caravans and Motorhomes, Geist Vehicle Leisure Australia, Geist Vehicle Leisure, Geist Leisure Centre, Geist Direct and Geist For Life.

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