Message #360788

[JollyCobbler]

Update: Read This Post.

Okay, apologies for the banner but I think I have some answers.

According to someone who was present (and has just shown me the paperwork), there was a Council meeting in late November 2015, wherein it was agreed to accept the MoU with KT's consortium - it is important to note a MoU is not a legally binding agreement, insomuch as a gentlemen's agreement.

At this meeting it was agreed to seal a deal which would allow KT to complete his takeover, and also for NBC to recover some of the lost monies - largely via development of the land around Sixfields.
Here's the kicker: NBC believed the leases held by CDNL would become void due to insolvency, and thus the land would revert to their control (for development), and would help to offset the NTFC debt.
There were a number of risks identified with accepting this solution to aid the club, with two of them being:1; A border dispute between former lease holders (NTFC). 2; A third party moves quickly to acquire the leases from the liquidator, and thus wrests control from NBC.
And this, unless I am missing something else, is the problem. NBC agreed a deal to help save NTFC - even though it was partly their ****-up which dropped us in the poop to start with. They identified risks associated with saving us, and boom! "A third party moves quickly to acquire the leases from from the liquidator"
No wonder NBC are pissed.