It’s not supposedly a payment deadline any more. wasps have said they would be unable to pay and so are putting together an alternative proposal. Bondholders would be really pleased if wasps pulled some master stroke though.The next payment deadline is tomorrow, isn't it?
I like your optimism.If there are any institutional investors with large stakes we are for a treat.
That has a familiar ring to it.sounds like fraud. Moving an asset at less than market value (which they've set themselves in accounts and bond doc)
As long as we get the stadium and they stay at the Butts.Plot Twist: Cov Rugby are picking up the golden share to be in the Premier League. (entirely made up but would be hilarious)
The next payment deadline is tomorrow, isn't it?
It’s not supposedly a payment deadline any more. wasps have said they would be unable to pay and so are putting together an alternative proposal. Bondholders would be really pleased if wasps pulled some master stroke though.
Well, they have been told they will receive interest.Bondholders will continue to receive interest for the period from May 13, 2022, on a half-yearly basis until the date of redemption
The Bondholder Facebook forum reporting they have filed a CVA
Which Company yet to find out
Absolutely.As long as we get the stadium and they stay at the Butts.
Juicy reading today
Will need someone far more knowledgeable on bonds than me but if I had any money tied up in them and I wasn't worried before I certainly would be after reading that.Someone with more time and knowledge than me might want to visit the Companies House site. Wasps Holdings have guaranteed repayment of our bond, and sure enough there is a charge registered in favour of US Bank Trustees dated 13/5/15 but there also three other outstanding charges 2 to Richardson and one to Canmango of which Richardson is Director. Perhaps most worrying is that there is a charge in favour of Richardson also dated 13/5/15 and both have a negative pledge. A negative pledge prevents a Company creating an additional charge that would have a higher priority to repayment. But what happens if you have two on the same day? Sculduggery of a high order I fear. Arena Coventry 2006 also guarantee the bonds and there is another charge in favour of EDIT should read Compass Group. Our security may be a lot less secure than we think, and for sure Richardson is not on our side but our competitor when it comes to claiming return of our money from the carcass that was Wasps.
The person who started this thread in my opinion should have the freedom of the city, a knighthood and be given a Villa in the Costa BlancaMy favourite box set: Wasps Downward Spiral.
Im obviously being thick but when SISU said we're up for sale if anyone wants to take on the club and the stadium, would that mean:The way security was written about in the prospectus always seemed a bit off to me but I assumed it was just going over my head and as I wasn't about to hand them thousands of my own money not an issue.
How would it work in practice? Wasps say we're going to offer you 20p in the £, to pick a random figure, the bondholders say hold on we've got security. They then try and enforce that security and get the lease sold to recover their money, what happens then?
Could be just a tactic to prevent the prospect of this alongside the shutdown of trading the bonds ,but someone on the bondchat site has claimed Richardson has a negative charge over lease superceding those of the bondholdersIm obviously being thick but when SISU said we're up for sale if anyone wants to take on the club and the stadium, would that mean:
someone with clout or who could get a bank to invest, would say to bondholders I can buy the lease if you force the sale, you get your money back. He ends up with the 250 year lease then buys CCFC?
Guess its more involved that that, but would the be the general gist?
SISU haven’t said we are up for sale.Im obviously being thick but when SISU said we're up for sale if anyone wants to take on the club and the stadium, would that mean:
someone with clout or who could get a bank to invest, would say to bondholders I can buy the lease if you force the sale, you get your money back. He ends up with the 250 year lease then buys CCFC?
Guess its more involved that that, but would the be the general gist?
Could be just a tactic to prevent the prospect of this alongside the shutdown of trading the bonds ,but someone on the bondchat site has claimed Richardson has a negative charge over lease superceding those of the bondholders
Just behind Shugs in the pecking order, some of their comments border on the ridiculousWonky has lost the plot
DrunkenWasps.com - Sky BluesTalk in a forgiving mood!
DrunkenWasps.com discussion board : Unofficial Wasps news and viewsm.rugbynetwork.net
Absolute lunatics on there, thought rugby chaps were the intelligent ones.Just behind Shugs in the pecking order, some of their comments border on the ridiculous
A bravado non storyWasps owner breaks silence to address administration claims
The Gallagher Premiership rugby club has played at the Coventry Building Society Arena since 2014www.coventrytelegraph.net
What's even more pathetic is how their supporters have just accepted it without question. There's so many questions that need answering and all they got was 'everything's fine', yet they seem happy with that when very clearly there is a lot wrong.That statement was pathetic.
To be fair I think I would be doing everything I could to protect my financial interests as well before this absolute shit show comes falling down.Richardson is planning something incredibly dodgy.
If I held anything in those bonds I'd be looking at exercising the charge asap.
Whatever this is has been dissolved
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