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Re: Farnborough

By Dave_LW20/8/2015 18:28Thu Aug 20 18:28:03 2015In response to Re: Farnborough

Views: 1354

You are correct Norm - cash does not change hands but there will be e.g. Bank guarantees required. You can be sure though that any Bank giving this form of bond / guarantee will need to be covered themselves in the form of Directors guarantee supported by a charge over e.g. property.

It seems though that Farnborough have tried to "bend the CVA" so that not all the creditors will be paid. This will run and run I expect. At least the Isthmian league are taking a firm stance at last. Shame they could not have done earlier in the summer....

Edited by Dave_LW at 18:28:23 on 20th August 2015

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