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Author Topic: Is Admin an Option?  (Read 1418 times)
The Artist Formerly Known as Audrey

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« Reply #15 on: Friday, April 16, 2021, 16:25:41 »

Power would also need the approval from Clem to do so.
Not sure about that with Clem bring a minority shareholder. It’s why he had to get an injunction to prevent it.
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Shrivvy Road

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« Reply #16 on: Friday, April 16, 2021, 16:29:33 »

Not sure about that with Clem bring a minority shareholder. It’s why he had to get an injunction to prevent it.
That was Standing wasn't it. I think one thing we can all agree on is no one has a fucking clue do we
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The Artist Formerly Known as Audrey

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« Reply #17 on: Friday, April 16, 2021, 16:31:05 »

Standing’s standing is yet to be determined by the court. He may turn out to be have been right royally shafted by Power.

Only Clem has a cast iron shareholding.
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Flashheart

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« Reply #18 on: Friday, April 16, 2021, 16:32:04 »

That was Standing wasn't it. I think one thing we can all agree on is no one has a fucking clue do we

There's another injunction.

Fuck knows how many there are in total
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JBZ
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« Reply #19 on: Friday, April 16, 2021, 16:50:09 »

 Standing may have the benefit of an interim injunction pending the trial of his claim preventing a sale of shares etc.

Posts this week suggested that CM has applied for separate injunctive relief effectively preventing one or more company entering administration (a company can enter administration by one of 2 routes).

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Patty-cake, patty-cake,
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Father's going to buy you socks
Baby's going to have red cheeks.
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« Reply #20 on: Friday, April 16, 2021, 17:09:28 »

If a holding company goes into admin, does it take the subsidiary by default?
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Frigby Daser

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« Reply #21 on: Friday, April 16, 2021, 17:50:46 »

Has anyone considered the possibility this is a pre pack administration, which ABLE (or another third party) wants as a term of acquiring the company?
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The Artist Formerly Known as Audrey

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« Reply #22 on: Friday, April 16, 2021, 17:57:56 »

Strangely, the present government has tightened up the rules

Pre-pack administrations involving people connected to the insolvent company are set to come under greater scrutiny in a bid to make the process more transparent.

Pre-pack sales where connected parties, such as the insolvent company’s shareholders or directors, are involved in the process will be required by law to undergo independent scrutiny, the government announced today.
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ron dodgers

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« Reply #23 on: Friday, April 16, 2021, 18:38:51 »

in the old days, wasn't it three admins and you're out?
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pauld
Aaron Aardvark

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« Reply #24 on: Friday, April 16, 2021, 18:48:05 »

in the old days, wasn't it three admins and you're out?
No, that was a myth. But people still believe it Sad

But if we get a hat-trick of insolvency events, we get to keep Andronikou
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« Reply #25 on: Friday, April 16, 2021, 18:51:17 »

oh dear god no
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