Covskyblue
Active Member
Does what’s left of the 10 year agreement carry over?
If the council wrote it into the transfer of the lease, yes...Does what’s left of the 10 year agreement carry over?
So are Wasps history at the CBS that’s all I wanna know?
If the council wrote it into the transfer of the lease, yes...
Indeed. Who is the lease being transferred to?Which transfer of the lease?
Council are freeholders... they have to agree any transfer of lease from acl, and have the power to write in whether the conditions of sub lease should remain...Which transfer of the lease?
Might appeal and play in premiership next year and may well do that at cbsSo are Wasps history at the CBS that’s all I wanna know?
Council are freeholders... they have to agree any transfer of lease from acl, and have the power to write in whether the conditions of sub lease should remain...
To Fraser groupWhy would the lease transfer from ACL?
To Fraser group
Council are freeholders... they have to agree any transfer of lease from acl, and have the power to write in whether the conditions of sub lease should remain...
Doug King said:I have had a look at it (the lease) and yes, I think that it’s really in our option if we walk away, and we obviously have no intention of doing that.
Honestly not sure how it works.. as we know, it is a tangled Web of companies, and two versions of ACL were under scrutiny today...ACL still exists, there is no transfer to be made.
If it's the same person who told you SISU were stopped from bidding, then they were wrong there.Honestly not sure how it works.. as we know, it is a tangled Web of companies, and two versions of ACL were under scrutiny today...
But this is what I was told.. .. and by somebody who should know...
I did not delve deeper - you/smmee could be right, but think something like this has been said all along!
Nope!!If it's the same person who told you SISU were stopped from bidding, then they were wrong there.
As it is still ACL and the lease is in place and the other agreements, what I don't get is how the debt is all wiped out and vanishes but those agreements stay?
Surely if ACL owe Dave the signmaker £6000 then that is an agreement which would still stand?
Doesn’t the Ashley sale basically pay off the bond holders? Was there other debt?
CCFC were a creditor for example.
Compass were another.
Do those agreements all stay in place or are they wiped out?
It gets voted through and the option is there to oppose but ultimately, Dave has to suck it up if he refuses as he's a minor creditor in the grand scheme of things, so can get subsumed by the majority. He might be even worse off if he's an unsecured creditor.As it is still ACL and the lease is in place and the other agreements, what I don't get is how the debt is all wiped out and vanishes but those agreements stay?
Surely if ACL owe Dave the signmaker £6000 then that is an agreement which would still stand?
I just want those badges down!!Who knows? A week ago I’d have said almost certainly, but recent comments focusing on CCFC are either better PR or a change behind the scenes that means they aren’t coming back.
Why would they transfer the lease to Fraser Group?
Fraser Group now own ACL, the lease is with ACL.
I think FG has just acquired the long leasehold shmmeee. ACL is now in administration and will ultimately be dissolved once any other assets are realised and distributions made to creditors
In which case I'll withdraw part of my rant, but certainly won't withdraw the assumption that bad things will happen. Our new owner seems happy it's secure and, if he's wrong, what does that say about his judgement, along with the person who sold him the club?I think FG has just acquired the long leasehold shmmeee. ACL is now in administration and will ultimately be dissolved once any other assets are realised and distributions made to creditors
But the terms of the lease will be the same, it's been assigned presumably at the consent of the freeholderI think FG has just acquired the long leasehold shmmeee. ACL is now in administration and will ultimately be dissolved once any other assets are realised and distributions made to creditors
They'd be due £1800 back not the full 6kAs it is still ACL and the lease is in place and the other agreements, what I don't get is how the debt is all wiped out and vanishes but those agreements stay?
Surely if ACL owe Dave the signmaker £6000 then that is an agreement which would still stand?
If it's the same person who told you SISU were stopped from bidding, then they were wrong there.
I've seen some lease terms and assignment consent seems pretty boilerplate in commercial leasesI have made a direct purchase of a lease where the council owns the freehold - we agreed the price but had to get permission through assignment from ccc as the freehold owner
Pure and simple? That's just Hear'say...Ultimately, the reason SISU don't own the stadium now is because SISU didn't have the cash to own the stadium. That's it, pure and simple.
ACL 2006 holds and manages the head lease from CCC whilst ACL is responsible for operational management of the arena business. IEC was majority owned by ACL.I think FG has just acquired the long leasehold shmmeee. ACL is now in administration and will ultimately be dissolved once any other assets are realised and distributions made to creditors
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