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It's been suggested that the starting time is at the beginning of the first working day and that it ends at the end of 10th day which would be close of business today, but what I have read suggests it's from the actual time of application - 15.29 to the same time 10 working days later, so if correct, 15.29 tomorrow.
I'm still waiting for a valid reason why, as a CCFC fan, I should hate the Wasps and their fans with a burning passion. Fourth time of asking now, this is getting past a joke.
"relatively advanced" &
"Additional 'potential' investors and funders have come forward"
Does this mean those they claimed were interested previously are no longer? Wouldn't be surprised if the new "potential investors" would want them to be in admin first anyway?
Either way, doesn't exactly scream of a deal being agreed imminently does it?
I assume they can't just get ongoing extensions forever as they seem to do with the bondholders?
"relatively advanced" &
"Additional 'potential' investors and funders have come forward"
Does this mean those they claimed were interested previously are no longer? Wouldn't be surprised if the new "potential investors" would want them to be in admin first anyway?
Either way, doesn't exactly scream of a deal being agreed imminently does it?
I assume they can't just get ongoing extensions forever as they seem to do with the bondholders?
View attachment 26422
Another one of their group of companies has joined the fun.
Now what does this company contain etc?
Yes, Arena Coventry (2006) Limited own the head lease...That's enough for the head lease to revert back into CCC hands, isn't it?
Yes, Arena Coventry (2006) Limited own the head lease...
From the prospectus -
Risks relating the head lease of the Arena granted to ACL2006
Under the terms of the head lease granted by Coventry City Council (“CCC”) to Arena Coventry (2006) Limited (“ACL2006”) in respect of the Arena (the “Head Lease”), CCC have reserved the right to forfeit the Head Lease if ACL2006 becomes insolvent.
Insolvency in this scenario means a situation where ACL2006 becomes unable to pay its debts, has a receiver/administrator/provisional liquidator appointed over its assets, has assets seized in order to pay debts of ACL2006 or has a winding-up order made against it.
The effect of forfeiture would be that the 250 year Head Lease would fall away and that ACL would then become the tenant of CCC at the Arena for the remaining 38 years of its existing lease.
However, the right of CCC to claim forfeiture of the Head Lease is not an automatic right. If CCC made a claim for such forfeiture, this could be contested by ACL2006, any third party that held security over ACL2006 and any subtenants of ACL2006 by making application to a court in England.
Further, if an administrator was to be appointed over the assets of ACL2006, then CCC would not be able to forfeit the Head Lease without the consent of the appointed administrator or with the leave of the courts.
Correct.I'm still waiting for a valid reason why, as a CCFC fan, I should hate the Wasps and their fans with a burning passion. Fourth time of asking now, this is getting past a joke.
why would someone buy now when they can get them cheap if they go into administration?they're deffo bullshitting
why would someone buy now when they can get them cheap if they go into administration?
Control and a long lease
Control and a long lease
Only with CCC support ? They cannot allow it to fail except as last resort
Get the long lease, and perhaps the 'control' bit, except I just don't see the business case in these current uncertain times, They wouldn't even have the long term certainty about CCFC as tenants, given the past history, and in theory the potential for us moving - I know, maybe unlikely, but in theory any buyer would have to factor in us potentially leaving down the line. Where would they recoup their investment, and does this assume any bondholders are shafted?
How’s Sunderland?Correct.
Your comments were past a joke ages ago.
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