................Please merge
Thanks
Are we looking to sell off Ryton for housing as part of funding the new stadium.
Or
As part of an exit strategy
Or
The new academy solution will also cover training?
Are we looking to sell off Ryton for housing as part of funding the new stadium.
Or
As part of an exit strategy
Or
The new academy solution will also cover training?
Well it does indicate that this will only go ahead if other training provision is provided, so I don't think we'll end up in a situation with nowhere to train.
I think you will find that Ryton is mortgaged up to the hilt. Whatever it could be sold for will only produce a small net return.
All assets and even shares owned by SBS&L in Otium are pledged as security to ARVO who at 31/05/2015 were owed £8m - it is not a mortgage in the same way as buying your home but it does mean that ARVO has first claim on any funds from asset sales
The security or debenture is signed by Fisher (Otium) by Dermot Coleman (ARVO Master Fund) and witnessed by L Deering (now a director at SBS&L)
details are here https://beta.companieshouse.gov.uk/company/07612487/filing-history?page=2 dated 04/01/2014
There is a similar debenture over the assets of SBS&L in favour of ARVO Master fund dated 10/08/2013 signed by Fisher (SBS&L) by Seppala (ARVO) and witnessed by someone at Sisu Capital
details are here https://beta.companieshouse.gov.uk/company/06414248/filing-history dated 10/08/2013
so they can build things then?!
So Dermot Coleman is actually active then
All assets and even shares owned by SBS&L in Otium are pledged as security to ARVO who at 31/05/2015 were owed £8m - it is not a mortgage in the same way as buying your home but it does mean that ARVO has first claim on any funds from asset sales
The security or debenture is signed by Fisher (Otium) by Dermot Coleman (ARVO Master Fund) and witnessed by L Deering (now a director at SBS&L)
details are here https://beta.companieshouse.gov.uk/company/07612487/filing-history?page=2 dated 04/01/2014
There is a similar debenture over the assets of SBS&L in favour of ARVO Master fund dated 10/08/2013 signed by Fisher (SBS&L) by Seppala (ARVO) and witnessed by someone at Sisu Capital
details are here https://beta.companieshouse.gov.uk/company/06414248/filing-history dated 10/08/2013
always has been - as director, and owner of SISU Capital you would expect him to be, he shares the assets and liabilities of SISU and therefore joint and several liability for any decisions taking about SISU
I think what the charges indicate is that Coleman and Seppala seem to control ARVO. Given the terms of debentures, the fact that SISU control as general partner of Sconset, it will be interesting to see the next confirmation statement filed by SBS&L as to who is declared as controlling party. You would hope that FL data would reflect that legal requirement disclosure
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