Nick
Administrator
Exactly, they won't just be saying "Ah shucks, better luck next time" and giving everything up.
If there’s any truth it is likely to be some staged administration
Richardson will have protected his interest no doubtIf there’s any truth it is likely to be some staged administration
Yes just needs to be their own nominated party.If there’s any truth it is likely to be some staged administration
Richardson will have protected his interest no doubt
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Exactly, they won't just be saying "Ah shucks, better luck next time" and giving everything up.
Said this a few weeks back, - asked the question whether there is/are any sanctions for going into administration as there are within the EFL? (points deductions etc) I don't believe there are, so it could (could it??) be a way of clearing debt, writing off bonds etc.... ??If there’s any truth it is likely to be some staged administration
Maybe he's their accountant!
Firing up the weird accounts are we?‘Weird obsession for someone who doesn’t post on here’ am I right? @Liquid Gold or are you too busy getting high all the time to dig out bsb like you did Grendel.
First few words may be correct the rest is nonsense
If there’s any truth it is likely to be some staged administration
You changed your tune.
er no I didn’t second paragraph up to bond money
But even in a staged admin - surely they run the risk of someone like SISU offering say 15p in the £ and paying more than Richardson?
I can’t believe they aren’t looking at legal ways to not pay the investor bonds and manage the administration back through to Richardson Maltese companies so they retain the lease
In an administration fixed charges take precedent over a floating charge I think. I wouldn't be surprised if Richardson's debt is precedent over the bond
In an administration fixed charges take precedent over a floating charge I think. I wouldn't be surprised if Richardson's debt is precedent over the bond
So is it possible Wasps goes into admin. The lease reverts to the council and then Richardson does another slimy deal to buy it back at a low price, and Wasps Holdings are bought back for 1p in the £?It’s the wording in the lease regarding liquidation of the company and what then happens to that lease that I’ve never understood
If there is no relegation, a points deduction would have no real effect. Demotion as per Saracens would.Said this a few weeks back, - asked the question whether there is/are any sanctions for going into administration as there are within the EFL? (points deductions etc) I don't believe there are, so it could (could it??) be a way of clearing debt, writing off bonds etc.... ??
Could they end up better off if they do!!????? (Genuine question!)
true! when i used to work i was in the IT department and the amount of information i got was amazing . lot of the times before senior management much to their annoyanceIt depends what level of employee, but it's not uncommon for employees to have inside info on their company.
So is it possible Wasps goes into admin. The lease reverts to the council and then Richardson does another slimy deal to buy it back at a low price, and Wasps Holdings are bought back for 1p in the £?
To be honest, I am sure there are plenty of scenarios we would have no idea about.
This is very true. Having worked in IT for well over 30 years, we were always one of the first to know as sorting out the infrastructure etc was one of the hardest jobs (apart from not telling your colleagues).true! when i used to work i was in the IT department and the amount of information i got was amazing . lot of the times before senior management much to their annoyance
You in a cruise too mate!?... was there a few days back!... like I said, splashed out a small fortune for an Internet package (pop corn is free though!) to keep up with all this!!.... keep the info coming everyone! (Docked in Lisbon today!)Tbf I was told this yesterday exactly as stated but didnt want to post it, in Palma and didnt want to have put up with the shit from everyone.
Have a good day.
PUSB.
No drove down from my appartment in Alcudia.You in a cruise too mate!?... was there a few days back!... like I said, splashed out a small fortune for an Internet package (pop corn is free though!) to keep up with all this!!.... keep the info coming everyone! (Docked in Lisbon today!)
So CCFC as a sub leaseholder would have a right to contest forfeiture of the lease back to CCC, as would Wasps RFC and the bondholders (who would be looking for as much if their money back as possible).in the event of insolvency here is the wording
Club aims to raise £35m from bond
Fantastic News - http://www.coventrytelegraph.net/news/coventry-news/wasps-rfc-looks-raise-35million-9121703 Copy and Paste Article. No mention of it paying Richardson back too? The Richardson bit is there hidden as 'refinancing shareholder loans' I believe Sounds better than Richardsons...www.skybluestalk.co.uk
Surely it takes someone to say - you’re offering me 15m but the lease is worth 35m….. no way would they not sellLatest ftom wasps fan ...they are going for voluntary cva? Whatever that is...would allow them to wipe debt but keep trading, seems abit unethical but I'm not clever enough to understand it all.
Think he said a vote required to accept lower value on share or get nothing...gawd knows why they wouldn't accept it so wasps keep everything it seems.
The bondholders are more likely to want to invoke the security on the arena and all wasps companies. There may be little value in the companies, but the arena does have some significant value.Latest ftom wasps fan ...they are going for voluntary cva? Whatever that is...would allow them to wipe debt but keep trading, seems abit unethical but I'm not clever enough to understand it all.
Think he said a vote required to accept lower value on share or get nothing...gawd knows why they wouldn't accept it so wasps keep everything it seems.
Doesn't it have to be agreed? If I remember, ACL rejected the CCFC one?
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