I've had some updating info regarding insolvency proceedings in that 50% of those who are not connected persons must also agree (as well as the original 75% of all creditors). This would seem to exclude any persons personal (i.e. people) or corporate (i.e. companies) who might be regarded as benefiting from this whole ramshackle business. Problem is that by virtue of some unrecognisable convoluted connection via the British Virgin Islands, Mr Bates might be able to say he is not a connected person
-----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Lewis, KM (Kevin) Sent: Wednesday, May 09, 2007 4:25 PM To: [email protected] Subject: [LU] Admin (LONG) > An insolvency expert chum advises me it is 75% of those present and > voting (providing correct notice of the meeting is given). Providing > Bates gets his GBP22m entourage along then, he should be able to vote > through whatever he wants to, as there are bound to be sundry creditors who will not attend. I'm sure Bates has done his maths in this regard already, just making sure that the Revenue don't have a blocking vote with their debts. > David W. So how much has cuddly Ken made or lost out of this? I read somewhere that he paid £10M for control of the club, I assume that was from the Kransortium. I'm also guessing that the £22M that the club owes the various companies, was used to buy off the huge debts that were being talked about 2-3 years ago. So Bates or Bates and his cronies have already put £32 Mil into the club one way or the other? Does he think he'll get that back one day? The other thing I have not seen reported, is what percentage of the debt, each of the creditors will receive as part of the deal. The 22 Mil makes no difference to him as it goes out of one pocket and into another, but surely a proportion of the rest of the debt has to be paid back to the other creditors. KOT. _______________________________________________ the Leeds List is an unmoderated mailing list and the list administrators accept no liability for the personal views and opinions of contributors. Leedslist mailing list [email protected] http://list.zetnet.co.uk/mailman/listinfo/leedslist The Leeds List - "where never is heard a discouraging word..." No virus found in this incoming message. Checked by AVG Free Edition. Version: 7.5.467 / Virus Database: 269.6.6/795 - Release Date: 09/05/2007 15:07 No virus found in this outgoing message. Checked by AVG Free Edition. Version: 7.5.467 / Virus Database: 269.6.6/795 - Release Date: 09/05/2007 15:07 _______________________________________________ the Leeds List is an unmoderated mailing list and the list administrators accept no liability for the personal views and opinions of contributors. Leedslist mailing list [email protected] http://list.zetnet.co.uk/mailman/listinfo/leedslist The Leeds List - "where never is heard a discouraging word..."
