Satisfied

[lucentdream]

https://find-and-update.company-information.service.gov.uk/company/00123622/charges/H_1rT5olRGtNPieBrmePM0_Atwo

A man with far greater knowledge than me suggests this means a sale is probably close.

[Northumbiron]

“Contains negative pledge.”

We’ve had a few of those over the past nine years.

[lesgeo]

I am not too familiar with such documents. Anyone able to help with the subtext?

1 user thanked author for this post.

BobbyGmeister

[Deereyme66]

Just a thought- could it mean we’re close to going in to administration?

https://www.gov.uk/guidance/registering-a-charge-mortgage-for-a-company

[MK Iron]

I’m no expert on company law but I think it means someone is looking to mortgage the ground. It seems to be Swann himself as the request is by Coolsilk but I don’t know if the charge and or subsequent mortgage can be transferred to a third party.

[Sanfran49]

Deereyme66 wrote:

Just a thought- could it mean we’re close to going in to administration?

https://www.gov.uk/guidance/registering-a-charge-mortgage-for-a-company

What it shows is the Ego will announce something at sometime that suits him ! Whether people believe any statement released will be up to them.

Until the owners name has changed officially then I do not believe anything the Ego says,

1 user thanked author for this post.

alcazar

[m181roundabout]

Also no expert but…

Isn’t it merely removing a loan the club had from coolsilk? So the club must’ve paid it off or coolsilk have waived the debt.

As above this is likely a precursor to a sale, a refinancing or restructuring.

An improvement in the clubs finances could be to enable it to take out a mortgage and purchase the ground back from Coolsilk… £5mil mortgage for the new owners.

3 users thanked author for this post.

Iron-awe, Dawson, SST

[Ferrite]

m181roundabout wrote:

Isn’t it merely removing a loan the club had from coolsilk? So the club must’ve paid it off or coolsilk have waived the debt.

That’s how I read it. Could it also be tidying up a loose end after the ownership of the ground was transferred? I don’t know.

[Anonymous]

Status – Outstanding:

Svenska Handelsbanken Ab

A fixed charge, rent for the ground?

[Author]

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