Basically saying what we already know mind.
They want to offer the shares to Wasps, but as per the agreement, have to offer to Sisu first, albeit to a liquidated company.
Could this possibly be a legal minefield and a wrangle ensuing?
They want to offer the shares to Wasps, but as per the agreement, have to offer to Sisu first, albeit to a liquidated company.
Sisu need to make a commercial decision as to whether it is in their interest to buy the shares.
Sounds like Sisu can do this.
seems nothing stopping sisu getting half of the ricoh for peanuts
Not that clear.
I would have thought with 50% share they inherit 50% of the debt/loans.
except sisu are the major creditors
so sisu pay 3m - administrators pay 2,77m
of the other 230k 220k goes back to sisu
so yes it does benefit the major creditors
This is not what was said. The liquidator can buy the shares if in their judgement it would benefit the major creditors of the liquidated entity.
That's a very very different scenario I'm afraid.
Isn't the defunct lease in the company? Again your also are missing the point - the decision has to be made by the liquidator it can't be made by anyone else.
appleton to become a hero?
Appleton? I didn't think he was the liquidator. I thought he was the Terminator.
except sisu are the major creditors
so sisu pay 3m - administrators pay 2,77m
of the other 230k 220k goes back to sisu
so yes it does benefit the major creditors
But Sisu have always said that they wanted the freehold of the Ricoh and the freehold isn't up for grabs is it. They would be doing a U turn if they make a bid.
But Sisu have always said that they wanted the freehold of the Ricoh and the freehold isn't up for grabs is it. They would be doing a U turn if they make a bid.
Isn't the defunct lease in the company? Again your also are missing the point - the decision has to be made by the liquidator it can't be made by anyone else.
This is not what was said. The liquidator can buy the shares if in their judgement it would benefit the major creditors of the liquidated entity.
That's a very very different scenario I'm afraid.
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