Quote: Ferocious Aardvark "Except the report doesn't say that; it saysextend[/i the O/D;
and irritatingly the RBS statement doesn't say what they did when told they had lost the security of the lease. I mean, they must have done [isomething[/i, else why mention it at all, but if not alter the O/D - then what?
Also they say the Bulls' main security was the lease; quite apart from Adey's explanations as to why that sounds dodgy, what sort of a bank has a security that the club can get rid of without so much as a by-your-leave from the secured creditor? What flavour of "security" is that? Certainly none that I've ever heard of!
It's a bit like a building society saying to me, here's £200K, you own a house so that's enough security for us, don't worry about any paperwork!'"
What are the chances of the RFL signing Odsal back to the Bradford Bulls for say £1, as the RFL could not in all likelihood afford to loan the Bulls the necessary shortfall in funds. The Bulls then return to RBS with security and go from there, and restore any line of credit that may or may not have been decreased.
