dongonzalos
Well-Known Member
ACL wanted 1.2 million from them and attempted to put the company that owed them the 1.2 into administration in order to get it.
They have always argued it is only 700k
It seems they are legally correct on that matter if they are not staying at the Ricoh going forward.
So they have a choice pay ACL 600k and stop the administration process
Or
Use ARVO to put yourself and the subsidiary holding the golden share into administration.
Bid for your own debt and pay the coatings of the administration process ( 6 months) 500 k administrator fees plus legal fees on top. Open up the risk of others coming sniffing.
They are either very very bad at business
Or they think spending about 3 million on a tactical move is worth it to not give ACL 600k and distress ACL further.
They have always argued it is only 700k
It seems they are legally correct on that matter if they are not staying at the Ricoh going forward.
So they have a choice pay ACL 600k and stop the administration process
Or
Use ARVO to put yourself and the subsidiary holding the golden share into administration.
Bid for your own debt and pay the coatings of the administration process ( 6 months) 500 k administrator fees plus legal fees on top. Open up the risk of others coming sniffing.
They are either very very bad at business
Or they think spending about 3 million on a tactical move is worth it to not give ACL 600k and distress ACL further.