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  1. O

    Wasps going into admin & the impact on CCFC

    Who appointed the Trustee? Why did 2 amendments to correct WASPs defaults go through quickly while the Bondholders demands taking 6 months
  2. O

    Wasps going into admin & the impact on CCFC

    Should be an interesting conversation- while it lasted!
  3. O

    Wasps going into admin & the impact on CCFC

    Nope! It's a question of solvency He can receive offers and one suits his purse he can set up a pre pack. However pre packs can be broken
  4. O

    Wasps going into admin & the impact on CCFC

    https://m.thegazette.co.uk/notice/4189147
  5. O

    Wasps going into admin & the impact on CCFC

    I am told the Hilton connection at NEC has a history but your answer is the current state The Chinese own 25% of Hilton At one point in history the Chinese also had a 10% stake in Blackstone but sold out
  6. O

    Wasps going into admin & the impact on CCFC

    Owned by Hilton Which is part owned by Blackstone - American They sold a stake to the Chinese
  7. O

    Wasps going into admin & the impact on CCFC

    Pissed off WASP and Sunderland fans?
  8. O

    Wasps going into admin & the impact on CCFC

    Why?
  9. O

    Wasps going into admin & the impact on CCFC

    They could stop paying ACL debts?
  10. O

    Wasps going into admin & the impact on CCFC

    The ticket money is still with Ticketmaster
  11. O

    Wasps going into admin & the impact on CCFC

    I hope someone looks into how that was funded
  12. O

    Wasps going into admin & the impact on CCFC

    CCFC sent funds to WASPS for them to pay contractor to be totally accurate
  13. O

    Wasps going into admin & the impact on CCFC

    He can "tell them" anything - remember the Bondholders are advised by the WASPS appointed Trustee. I do not know how far his authority extends to accepting a debt reduction
  14. O

    Wasps going into admin & the impact on CCFC

    I read it that they are only referring to the "Rugby Club" reforming
  15. O

    Wasps going into admin & the impact on CCFC

    If it goes to Liquidation the Bondholders control the Asset. The Trustee then acts for them ( whoever "them" might be ) Not sure of the process then if he agrees to sell at a figure below the debt amount?
  16. O

    Wasps going into admin & the impact on CCFC

    OSB RFU Regulation 5 refers to the "Rugby Club" creditors - would there be many?
  17. O

    Wasps going into admin & the impact on CCFC

    It could depend on who the Majority Bondholders are ?
  18. O

    Wasps going into admin & the impact on CCFC

    He acted quickly enough to correct defaults in the Bond Covenants by WASPS. Found the 25% and passed the vote with no difficulty ( just saying !! )
  19. O

    Wasps going into admin & the impact on CCFC

    The value of their security is another issue ( and a risk they took on ) they still have a charge and right to sell in priority Liquidation also passes ownership of the Asset from ACL to them / Liquidator If CCC took any action that affects the value or rights of that lease there are potential...
  20. O

    Wasps going into admin & the impact on CCFC

    Liquidation does not remove any rights from Fixed Charge Holders. The right to sell moves from the Company to the Charge Holder or Liquidator but the actual Charge is unmoved
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