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Higgs could veto the deal if they weren't happy.

The club paid very little for their 50% of the shares when ACL started, so it's happened before. I'm not of course suggesting it would or should happen in this instance, just cheap point scoring, sorry about that.

There was mention that 43 years of the ACL lease at £1.3m per year could form part of the creditors.

The formula price would set a maximum price, they can always accept less, but I think the formula can't be used anyway as ACL are owed money from the old company. Higgs were prepared to accept less than the formula before. We can forget about the formula price.

You seem to suggest a lot of people are involved in this hypocrisy, care to list some names, or was it just a sweeping generalisation?

Exactly, that's an error. They are selling half of a management company on the cheap.

When Rob S met with Joy and she told him that SISU didn't want to interfere, he said that..... Joy's basic argument against the Ricoh was that she thinks it's too much of a business risk at the price ACL want. "The revenue potential is too unclear." Key points were: IEC/Compass contract(s)...

Your answer has confirmed what I thought. Thanks.

It's good that you've shown up to explain everything. Carry on.....

As I have mentioned PWKH has said that Higgs have to give permission for it to be transferred, it can't simply be traded according to him*. *Pretty sure it was him, I'll have a listen again to his interview on CWR.

I mean the option hasn't expired, it would certainly appear that Higgs have no intention of accepting any offer from the liquidator.

It's not too late, otherwise Higgs wouldn't have invited the offer. I don't know what you mean in respect of the CVA stopping anything.

I haven't heard that before, got a link?

Maybe, I know that Joy is claiming for an umbrella and a magazine though.

Because if they win they will no doubt want a load of money from the Council.

I would imagine they would be arguing they have already bought the beneficial ownership when Otium took over, so no need to resurrect CCFC Ltd, with it's debts.

The case is against the Council, not ACL. Although ACL are linked by virtue of having received the loan, I don't see that it distresses them particularly.

Higgs can turn down any offer if they want, the option just says they (CCFC Ltd*) have a chance to make an offer. *There is talk of beneficial ownership transferring the option, I don't think this will work, but I'm out of my depth with that.

Pretty sure PWKH, or maybe it was OSB58, or both, said that Higgs have to give permission for the purchase option to be transferred. So claims of beneficial ownership won't work will they?

The loan is payable by ACL, buy half the shares and you are responsible for the loan just as much as the other half are.