Where does my knowledge of Cala come from? Seeing the completed sale contract for that transaction & first hand knowledge of money being received from Cala to the satisfaction of the bank who held the previous charge over the land.
As I've said, one of the BoD told me directly that Cala no longer wanted the land & that an agreement for Yorkcourt to buy the land would result in the club getting £350k. As I stated in a previous post "the land is not in the ownership of the club" is the answer I got as to whether the land had been returned to the club pending completion of the new agreement with Yorkcourt.
Quote: the land is not in the ownership of the club "RDM?? RogerDianeMaskill?????'"
I wondered how long it would take for this to be suggested....................................................but I'm afraid you're a long way off the mark with that one.
Quote: the land is not in the ownership of the club "Could it be then that Ted has bought the ground through an offshore trading company, then when the time has come to pay the bill put the company/himself that owns the shares into a CVA so that he doesnt have to make the payment?'"
Quite possible. To expand that "devil's advocate" theory a little further I know that if Cala had wanted to sell the ground back to the club a request to provide a loan to facilitiate this would NOT have been met warmly from the club's current bank (yes, even with the collateral that could be gained from the land).
In that case it seems plausible that Ted & others could have formed another company in the IoM (to avoid issues about his IVA) to buy back the land & then sell it on to Yorkcourt.
One final thing for people to think about, the sale to Cala was agreed at the height of the construction bubble and IF they were still buying the land from us we would be due another £600k from them. If the new deal with Yorkcourt sees WT getting £350k instead, then the net result for the club (i.e. £250k less than originally planned in 2007, but paid when NM gets planning permission rather than when we leave BV) is still quite reasonable given the current market for development land.
Overall, it's just another reason why we need to get a completely clean slate through Administration & the sooner the better
