Alan Nixon Breaks Silence on American Billionaire Bid

[Gee SCREAMER !!]

I would imagine any Gadsby deal would involve the same as before .  Dealing with the debt and selling on when things are healthier.  Also has the benefit of getting somebody in who knows how to deal with things, both with creditors as we were in a mess before when he took over and dealing with bankers  at the Gibson level .  Hence the 3 amigos lovely period at her majesty's pleasure. Just the job to fight fire with fire.  I'm surprised he wants back in and he won't have the cash to do anything but service the debt .  That will do for now though. 

[Maharan]

Is this not just an agreement that the creditors agree with Administrators proposals, set out in the earlier document? 

[TheSlate]

I'd be absolutely amazed if PG had any kind of prominent involvement. 

[Mick Brolly]

3 minutes ago, TheSlate said:

I'd be absolutely amazed if PG had any kind of prominent involvement. 

Don't think they could do any worse than MM.

[Ram-Alf]

1 minute ago, Mick Brolly said:

Don't think they could do any worse than MM.

Coo eee mister shifter, Dad do you know the pianos on my foot, You hum it Son i'll play it ?

[CBRammette]

39 minutes ago, Tamworthram said:

Doesn't the notice say that a proposal has been approved by creditors (or 90% of them) which, presumably, includes HMRC? 

Cant imagine you would proceed until position with them agreed or admin would look incompetent! Fingers crossed

[hintonsboots]

20 minutes ago, TheSlate said:

I'd be absolutely amazed if PG had any kind of prominent involvement. 

Any tips on who else it could be ?

[Ram-Alf]

5 minutes ago, hintonsboots said:

Any tips on who else it could be ?

I wouldn't have a Typhoo

[strawhillram]

36 minutes ago, TheSlate said:

I'd be absolutely amazed if PG had any kind of prominent involvement. 

Earl of Grey might be his backer. He’d stir it up. In the bag and PG then leaves.

Edited December 15, 2021 by StrawHillRam

[TheSlate]

15 minutes ago, hintonsboots said:

Any tips on who else it could be ?

Earl Gray of Tetley

[sage]

More bloody tea puns. This forum is going to pot. 

[Mucker1884]

3 hours ago, Tamworthram said:

We may be “100% non-the-wiser than we were last week” with regard to the terms of the offer, who the preferred bidder is and if they’re willing/able to meet those terms but at least we know (it would appear) that an agreement has been reached with the creditors which I assume must include HMRC.

Good point!  No more details than last week, but it does appear to be more positive.  ?

 

...To be fair, I've been non-the-wiser every week for the last 40 odd years, so makes no difference to me!  ?   

[kevinhectoring]

35 minutes ago, Tamworthram said:

Doesn't the notice say that a proposal has been approved by creditors (or 90% of them) which, presumably, includes HMRC? 

I’ve not seen an announcement that an overall deal has been done with HMRC. You’re right of course that they are a creditor. I think part of their claim is preferred, part is an ordinary unsecured claim. The HMRC unsecured claim has to be dealt with in the same way as the other unsecured creditors and so that claim must be subject to the proposal. I’d think (because there has been no announcement) that the preferred claim is still being negotiated. That’s the tricky bit 

[Mihangel]

It's progress, maybe it's more the end of the beginning than the beginning of the end but I'll take that. Feeling positive.

[PistoldPete]

7 minutes ago, kevinhectoring said:

I’ve not seen an announcement that an overall deal has been done with HMRC. You’re right of course that they are a creditor. I think part of their claim is preferred, part is an ordinary unsecured claim. The HMRC unsecured claim has to be dealt with in the same way as the other unsecured creditors and so that claim must be subject to the proposal. I’d think (because there has been no announcement) that the preferred claim is still being negotiated. That’s the tricky bit 

You could be right. But they might not want to announce an agreement .. they haven’t given much detail about the agreement with the other creditors. 

[Tamworthram]

5 minutes ago, kevinhectoring said:

I’ve not seen an announcement that an overall deal has been done with HMRC. You’re right of course that they are a creditor. I think part of their claim is preferred, part is an ordinary unsecured claim. The HMRC unsecured claim has to be dealt with in the same way as the other unsecured creditors and so that claim must be subject to the proposal. I’d think (because there has been no announcement) that the preferred claim is still being negotiated. That’s the tricky bit 

I guess the devil is in the detail but, if the creditors have agreed to the proposal then I would have thought that include preferred and ordinary. I can't see how an agreement can have been reached if it doesn't include HMRC and how the preferred element is being dealt with (unless it says "subject to" which is maybe possible). According to my understanding, all "preferred" means is that they get first dibs if there are insufficient funds in liquidation to satisfy all creditors. Surely HMRC must have been a party to the creditors agreement. 

[Donnyram]

12 minutes ago, sage said:

More bloody tea puns. This forum is going to pot. 

Talk about pot calling the kettle black ?

[Grumpy Git]

14 minutes ago, sage said:

More bloody tea puns. This forum is going to pot. 

Could mean trouble brewing for the admins.

[B4ev6is]

3 minutes ago, Grumpy Git said:

Could mean trouble brewing for the admins.

Or the deal is more or less done

 

[Mucker1884]

17 minutes ago, sage said:

More bloody tea puns. This forum is going to pot. 

Oh.  I wondered how long it would take for someone to spout off!  There's always one mug!