CVA Proposal.

[Bluedell 5,365]

But it would have honoured the Club Deck bonds so you have circa £7m less creditors, no?

 

Is that not what the Green bid is doing as well?

[Bluedell 5,365]

your the financial guru bluedell I gave you tbk bid earlier now you have both if your telling me its 2 million more fair enough. but it was 5.5 in the creditors pot ad not a loan.

 

 

this looks like he's buying us for a few hundred k.

 

a joke at first glance

 

I haven't gone through either bid in detail, and am happy to be corrected. It's the amount in the pot that's what's most important to the administrators and not how it's funded.

 

Playing devil's advocate, what's different between this and TBK's plan of getting Ticketus to finance the deal? Also, we don't know for sure if TBKs had a similar scheme to get their cash back with their latest proposal. There may have been some element of repayment factored into their planned share issue.

[Bears 0]

Schedule 4 sets out it quite clearly.

 

Estimated Funds Available for Unsecured Creditors

 

CVA 4,967,284

Newco 953,284

Liquidation Nil

 

Who would vote against a CVA?

 

 

When you put it like that it settles me down some what

[Bluedell 5,365]

When you put it like that it settles me down some what

 

yeah, it's nice to see that there's an incentive to avoid a newco, although as has been poiinted out, HMRC may make a non-financial decision.

[the gunslinger 3,366]

I haven't gone through either bid in detail, and am happy to be corrected. It's the amount in the pot that's what's most important to the administrators and not how it's funded.

 

Playing devil's advocate, what's different between this and TBK's plan of getting Ticketus to finance the deal? Also, we don't know for sure if TBKs had a similar scheme to get their cash back with their latest proposal. There may have been some element of repayment factored into their planned share issue.

 

read tbk bid when you get a chance. it was 5.5 for the pot with fees paid seperately.

 

ticketus had no part of it.

 

the share issue was to be much down the line and there's no indication of repayment and some that it wouldnt.

 

but in truth is a pointless comparison. this bids an abomination at first glance and green will need to do a lot of convincing to get a penny out of me while he's at the helm.

[forlanssister 3,062]

RFCG

Close Leasing

Scottish Sports Council

Premier Property Group

Bank of Scotland

Kelvinside War Memorial Trust

 

All of those are fixed charge holders.

 

I think the bottom 2 have been satisfied, below is a MG02 regarding Bank of Scotland, pretty sure I seen one perhaps two with regards to the Kelvinside War Memorial Trust but cannot seem to find them at present.

 

 

[the gunslinger 3,366]

yeah, it's nice to see that there's an incentive to avoid a newco, although as has been poiinted out, HMRC may make a non-financial decision.

 

or decide an asset sale will realise more.

[Bears 0]

yeah, it's nice to see that there's an incentive to avoid a newco, although as has been poiinted out, HMRC may make a non-financial decision.

 

I can't wait to talk about a dodgy offside or how good a new £2M signing is when he tracks back to clear the lines

[Bluedell 5,365]

I take it they're retaining their charge if the CVA is successful then? They're not accounted for in the estimated outcome.

 

Yeah, looks like we will still owe them the £1.6m post CVA.

[the gunslinger 3,366]

my fear always was tbk were susceptible to a bid by a chancer that could afford to bid more and invest less with us paying them back.

 

as I say greens got some explaining to do.