Yes they're jumping the queue to get paid. Logically other creditors should now join, in order to not be put behind them! The question is why have they done this, have they any info that suggests the deal with consortium is not going to complete?
Genuine question, why would you expect that? Last time we were in court the judge said he'd be winding us up if we weren't a football club etc. Why do we get more chances this time round if it does indeed go to court?
Because I'd expect us to argue that there is a fair chance that new owners will takeover in the coming weeks that will lead to a better outcome for all creditors
I hope your right however we've been saying that for years now.
Very, very different circumstances this time round.
My understanding is previous history doesn't matter - let's hope so
That's a worry in itself.
And he'll throw in the standard comment of "I will personally guarantee it, via my family businesses" which will be met with the usual quiet snigger from those present.
The good news is probably he wont even be there. The debt is being paid by the new owners as part of the takeover agreement. It will be apparent that DD is nearing completion and that the consortium and SBC are able to demonstrate this, that the new owners are funding current expenditures (debt not growing) and have the financial ability to settle legacy creditors on takeover, and that not just the normal test of "is there a reasonable likelihood of payment" is met but there is in fact the strong expectation it will be met and for all legacy creditors.
Quite the judge will see the direction of travel, all current debts serviced and a real likelihood of all legal debts be paid soon (by people with the means to do so).
And no doubt Pete, whose the main security guy in the West stand, will be his bodyguard as in previous court case's.
Does he still answer to Ron ?
Iam sure that would scare then .They would probable not want his bussness any more due to the fact he wouldnt pay them anyway .
Am I permitted a "WHOOSH"?
