Deal Done At Last - 85.3% of RFC sold for �£1 according to Stock Exchange

[Zappa 0]

MIH are suggesting WT are to waive the debt in the future...

 

If Wavetower is a new company how exactly can it be in a position never mind predict being in a position to say it will 'waive' �£20m worth of debt??

Edited May 6, 2011 by Zappa

[Frankie 8,151]

If Wavetower is a new company how exactly can it be in a position never mind predict being in a position to 'waive' �£20m worth of debt??

 

You're asking the wrong man

 

Points ---> @Bluedell

[Zappa 0]

You're asking the wrong man

 

Points ---> @Bluedell

 

I'm keen to hear his thoughts and Craig's too..

[der Berliner 3,249]

As I said before, I would assume that they keep the debt, but essentially never want it back, i.e. waiving it. Or it could well be that for some reason or another, we pay back a given sum (100k per annum) into their accounts.

[townhead ranger 0]

As I said before, I would assume that they keep the debt, but essentially never want it back, i.e. waiving it. Or it could well be that for some reason or another, we pay back a given sum (100k per annum) into their accounts.

 

The debt hasn't been paid by Wavetower/Whyte yet.

 

The debt is still with LBG, who most certaintly will be wanting it back.

 

If Whyte proposes to clear it from his own funds I see no logic in delaying it when all it will serve to do is prolong the substantial interest rate payments.

[alexscottislegend 2,067]

'Wavetower' - is this some sort of joke/inference that there is Dubai financial involvement somewhere along the line?

[craig 5,199]

If Wavetower is a new company how exactly can it be in a position never mind predict being in a position to say it will 'waive' �£20m worth of debt??

 

Capital infusion. It could have 20 million in share capital and, so long as that capital has been paid, then it has the funds to pay off the debt to LBG and at that point the loan is one that Rangers owes Wavetower, which Wavetower would be able to "waive".

 

Even if it is a new company that doesnt mean it doesnt have the cash or the capital to support the "waiving". Issued share capital, so long as it has been physically paid, would sit in the bank in a dormant/new company.

 

Easy enough to do.

[Zappa 0]

So I'm guessing the money sitting in escrow with LBG was a bullshit story too then?

[townhead ranger 0]

Craig if they have the funds would there be any logic in not "waiving" thsi debt immedietly?

 

Should we be concerned that he is earmarking our European Revenues for this purpose if the LBG debt isn't "waived" fairly soon?

[Frankie 8,151]

Craig:

 

Does this suggest there is written proof that WT will not pursue RFC for the debt in the future?

 

The statement seems open to interpretation - just how long is the 'foreseeable' future? Do we pay them interest until such time they deem it safe to 'waive' the debt?