Quote: Bulliac "So are they suggesting a newco? Or is the "off-loading" to be done via a CVA?
Sounds a bit like a newco as, so far as I know, no-one else has yet had to drop monies for entering a CVA, though neither have I heard of any objections to any other club's future income in previous cases. If it turns out to be a CVA it will still have to be agreed (if indeed the creditors do agree) so it's far from done and dusted.'"
CVA not likely as the shares in Oldco would stay where they are now.
New investors would want the shares - Newco would give then that