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Safe to assume the exclusivity payment is what is keeping ACL out of liquidation at the moment?

Surely key will be can the bondholders show how the companies can operate until an alternative buyer is found? If they can't then it's either the preferred bidder or liquidation. HMRC ( for one) still waiting to get paid and they will push for liquidation if they can't see their money soon...

Was that ACL or the trustee that asked for money to advertise a sale?

Are you sure the council would have called a match-funding arrangement a "bailout" ? They could easily called it an "investment opportunity" or a "regeneration project"

It's like a poor man's "Yes Minister". Hiding intent behind phraseology

That'll pay for a couple of hours of legal work then.

That's the issue bondholders are missing. They don't know the ratio between asset value and asset income value. They just keep assuming it will sell for the whole valuation amount but the "glossy" income that was in the Wasps brochure didn't stand up and that the facility is in A1 condition.

Ah ok. So given his history with writing things I hope he spell-checked his offer - probably making an offer for something CAL or CAL 2006 :)

I'm out of touch maybe but who are the Tomes?

Don't see how Reeves can fudge this in context of the statements from a couple of weeks ago

Think in liquidation the P share automatically reverts to Rugby Premier League

Agree with you, it pisses me off about investors generally in this country in that they think they are owed a return regardless. You take your chances as far as I'm concerned - caveat emptor. Exactly there's a bloody great brochure that listed the potential risks. They've all had to opportunity...

17m + 13m (for repairs) - that's outof SISU's reach

HMRC should be paid in full then the rest shared out. Pisses me off that taxpayers ultimately end up paying the price in these administrations where HMRC are owed money. And how the hell the football creditors rule bs is allowed to carry on is another grievance as well.

Still find it very hard to believe that there was an unawareness of what was going due to the "size" of the issue for the council. You assume there is regular (if not daily) communication between Reeves and the most senior councillors. Given the national and local media coverage of the Wasps/...

Red flag should have been when the Trustee asked them for money to pay for advertising the arena sale. Implication being there wasn't many interested in buying it.

Ashley must have offered a sum close to the realistic valuation of the businesses. There's a time factor to getting things done before these businesses run out of money. Negotiating with one party (rather 4 or more ) means it isn't going to drag on - or pad out admin costs.

So possibly one thing against the multiple assists Perez has definitely given Verstappen. I'll stand by the "petty and selfish" comments

We can laugh now but back in March we sat down and discussed exactly these points. No-one here thought Ukraine would stop the Russians getting here.

Maybe because risk is everyone backs off, waits for liquidation and then the bidding war starts at a much lower rate? And bondholders would get nothing under a liquidation? HMRC not getting to wait around for their money