Darthter 542 Posted May 1, 2012 Share Posted May 1, 2012 Is a newco such a bad thing???? Various source are suggesting that history retention shouldn't be an issue - several cases of this happening in the past. It would remove Whyte & ticketus from the equation. I think recent activities would suggest that license transfer for SPL would be approved. It could also happen pretty quickly, and therefore ending the saga that is currently ongoing.... 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted May 1, 2012 Share Posted May 1, 2012 What legal recourse do we have regarding the appointment of D&P? Could the RFFF QC raise a motion to the Court of Session to challenge this? What evidence is there to prove that D&P are stalling? Think only creditors have any recourse with the courts - RFFF are not a creditor. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted May 1, 2012 Share Posted May 1, 2012 It's newco for me, can't see any of the creditors agreeing to a CVA with so little money on the table. 0 Quote Link to post Share on other sites More sharing options...
stewarty 1,877 Posted May 1, 2012 Share Posted May 1, 2012 Think only creditors have any recourse with the courts - RFFF are not a creditor. Ok, but if the RFFF was to act on behalf of, say season ticket holders, debenture holders and any/all creditors who are unsatisfied with progress? 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted May 1, 2012 Share Posted May 1, 2012 It's newco for me, can't see any of the creditors agreeing to a CVA with so little money on the table. Even if the CVA has a higher p in the £ return for the creditors? 0 Quote Link to post Share on other sites More sharing options...
bigy 0 Posted May 1, 2012 Share Posted May 1, 2012 Why must it be a newco? If Miller gives £11m and becomes the new company owner with all our assets, how are HMRC or Ticketus better off than agreeing to a CVA which gives them better returns even if over a longer period. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted May 1, 2012 Share Posted May 1, 2012 Even if the CVA has a higher p in the £ return for the creditors? The return is so small what's the point, I can't see enough of them agreeing to get it through. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted May 1, 2012 Share Posted May 1, 2012 Ok, but if the RFFF was to act on behalf of, say season ticket holders, debenture holders and any/all creditors who are unsatisfied with progress? I don't think complete removal of D&P would be the right move, but what would be great is if a creditor or group of creditors petitioned the court requesting that the 'joint' administrators be split and one removed, leaving us with either Clark or Whitehouse to resolve the administration on his own. I think there would be a very strong case and evidence for this given the number of times that they contradict one another and clearly disagree on certain key issues which delays the whole process. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,282 Posted May 1, 2012 Share Posted May 1, 2012 It would help if the bidders actually start talking to Whyte and try to agree on some sort of settlement, no? Whatever we feel about this man, Whyte looks to be in a certain position of "power" here, unless a judge rules otherwise. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted May 1, 2012 Author Share Posted May 1, 2012 Every day I wake up and eventually log on with a renewed sense of optimism and hope and by this time each day I feel like I have had the emotional shit kicked out of me , deadlines here deadlines there , promises to do this appeals to do that , we give our money we go on marches we demonstrate and boycott , all to what end , so that arseholes like CW and to a lesser extent D&P can work me like a puppet , I've had it someone give me a call when its all over . 0 Quote Link to post Share on other sites More sharing options...
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