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I remember that, don't think he so much said no outright as squirmed a bit and tried to change the subject. One thing to consider with mediation is who would pay the bill if an agreement wasn't reached. There will be a cost to the council, and therefore the taxpayer. What if, as with the...

Will probably post more on this tomorrow when I get on a decent keyboard but while they are a huge worldwide company if you look at what they do in the UK you'll see how unlikely it is they'd have the slightest interest in running the Ricoh. In this country they are a music based company running...

Well we know that's not true, Grendel still has an account :D

And what then? ACL no longer exists, no events of any sort at the Ricoh, all the businesses at the Ricoh have been kicked out and CCFC are still playing in Northampton - brilliant plan.

So your solution is that CCC screw over a load of businesses and cause a lot of local people to lose their jobs? If that's the way you choose to do business you should probably speak to Joy, she'll probably give you a job.

think it means they've put more money in during the last 21 days and the charge has been updated to reflect that.

Do you really think that the price SISU will pay will cover all those costs?

I assume the point is just cancel the loan and liquidate ACL with no compensation however ACL have been overpaying on the loan prior to the refinancing so essentially the loan does even cover compensation to ACL at a pro rata rate let alone the loss of any future profit. Also doesn't solve the...

SISU don't want to buy ACL, SISU want to purchase the freehold with ACL no longer in existence and all the contracts at the Ricoh (hotel, casino, compass etc) cancelled. You've said that's easy to do so who would cover the cost of it?

Not lived in the city for many years but the first place that springs to mind is the old Courtaulds site, has that all been redeveloped?

SISU don't want the contracts transferred over, that's the problem! They want to purchase the Freehold with ACL having been wound up and all the contracts between ACL and the other businesses at the Ricoh cancelled. It makes no sense of course, but SISU insist this is the only way they can make...

If SISU are prepared to cover the cost of cancelling all the contracts what difference does it make if the council do it or SISU do it. Surely SISU could buy the freehold from the council, buy both stakes in ACL and then sort out the other businesses at the Ricoh for themselves. Why would they...

Most people when looking to purchase ACL would consider having companies in place paying money to them and under contract a benefit. They wouldn't be looking to kick them out. Should ACL be sold to any other party the leases and sub leases will remain in place. The new owner of ACL can then, if...

But that wouldn't give SISU the lease with none of the contracts in place. What happens to the casino, hotel etc? SISU want them out and contracts cancelled, selling the freehold and leasehold to SISU doesn't resolve that problem.

Exactly, if SISU want rid of ACL and the contracts they hold with third parties why not buy ACL and then pay off all those contracts themselves. The only reason I can think of they won't consider that is they want CCC to foot the bill for all the compensation that will be due.

They could do this however SISU want to purchase the freehold with ACL no longer having a lease so that's not something SISU are interested in purchasing. That's not breaking the lease as SISU require.

I don't know why SISU and some others find it so complicated or inconsistent. 50% of ACL is owned by Higgs, they are the only ones who can sell it, CCC have no power to sell their share, but CCC have veto power. Higgs have previously agreed to sell their share to SISU, at below the formula...

Can you explain how the council, who only own 50% of ACL can cancel the lease ACL hold and also cancel all the contracts between ACL and third parties without paying millions in compensation?

A complete guess but I would say the land wasn't zoned for development prior to the Arena project and the re-zoning occurred as part of the project as a means to providing funding in just the way it did. A lot easier on the planning front for them as well when it's part of a bigger project.

My understanding is that CCFC ran out of money and CCC took over the project. Some of the funding for the project came from a European grant that was restricted to public sector so CCC could obtain the grant but couldn't then give 50% to CCFC as they were not a public sector organisation. This...