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Redevelopment Closer Than Ever?

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Author Topic: Redevelopment Closer Than Ever?  (Read 1014691 times)
GrangeParkCobbler
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« Reply #21720 on: June 04, 2018, 18:04:12 pm »

the contract was between CDNL and Buckinghams.

So CDNL end up getting liquidated and Buckinghamís are £2m down the swanny, yet KT and DB pick the bones out of CDNL and hold on to the valuable land leases that the liquidated company held....letís face it, they had no other assets as they were set up specifically to deal with the Sixfields project.

Doesnít seem right to me....morally that is!
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Manwork04
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« Reply #21721 on: June 04, 2018, 18:44:57 pm »

http://www.bbc.co.uk/news/uk-england-northamptonshire-34604036
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Manwork04
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« Reply #21722 on: June 04, 2018, 19:02:53 pm »

Juicy, so the creditors to CDNL got 3.29 pence in the pound ouch.
https://beta.companieshouse.gov.uk/company/08589683/filing-history?page=1
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« Reply #21723 on: June 04, 2018, 19:05:15 pm »

CDNL entered into a CVA and that has ended successfully. The Liquidators, Mazars, filed a report at Companies House in December 2017 which stated within it that "It is envisaged that a stay of the winding-up order will be applied for shortly at which time ..................................the company will revert to the control of the directors and shareholders, David Bower and Kelvin Thomas."

I expect that the application has been made but I don't know.  In any event, it will be a formality.

So, DB & KT have the long lease of the CDNL land and can deal with that as they want subject, of course, to any constraints imposed by NBC under the lease and as the planning authority.  And there lies the rub.   As to the legal ownership of the unpaid steel etc. in the East Stand, I don't know because like the rest of us I haven't seen the contract. I doubt that our owners are losing any sleep over the shambles called the East Stand.
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Manwork04
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« Reply #21724 on: June 04, 2018, 19:17:29 pm »

So the CVA cost KT and DB £170k....... Cool
The land includes area next to Sixfields and car parks......... Grin
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« Reply #21725 on: June 04, 2018, 19:26:44 pm »

I don't think the CDNL land includes any of the car parks but I don't know. My limited understanding is that the CDNL lease covers the old running track area and the land beyond to the back fence.  Anyone got a copy of the CDNL lease?
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Manwork04
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« Reply #21726 on: June 04, 2018, 19:30:12 pm »

It's in the liquidation documents, says the car parks grossed £10k for the previous year.
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« Reply #21727 on: June 04, 2018, 19:34:39 pm »

Fair enough and this indicates you are right but why the hell should we supporters be scratching around for basic information is beyond words.  It reflects so poorly on our owners and NBC. Both deserve the severest criticism for the lack of information and transparency. Yet there are those who rush to defend one or the other. Staggering.
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« Reply #21728 on: June 04, 2018, 20:17:46 pm »

Well Iíve made my stand
No season ticket for me

Iíve no intention of paying a penny to be treated with total contempt
I wonít miss much.
The stand shambles will still not be sorted out whether I miss this season or next.
Imo the whole club and the way itís run is shambolic with no fan interaction whatsoever.
The writing was on the wall when the trust were kicked off the board.

If the club ever sorts itself I may take in the odd game but sorry youíve lost me and Iíve supported for thirty years and had a season ticket for fifteen.
Il spend my cash on another hobby instead

Good luck one and all
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« Reply #21729 on: June 04, 2018, 21:06:10 pm »

Ridiculously hard to understand what's going on without clarity from either party.

Shoey, see you in a few months.
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Manwork04
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« Reply #21730 on: June 04, 2018, 21:26:25 pm »

Ridiculously hard to understand what's going on without clarity from either party.

Shoey, see you in a few months.
It's really not, what is it you don't understand?
Maybe I can help, I'm not trying to be patronising either mate.
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« Reply #21731 on: June 04, 2018, 21:39:27 pm »

It's really not, what is it you don't understand?
Maybe I can help, I'm not trying to be patronising either mate.

All of it!

So in short, KT etc now get the CDNL assets which is the land lease basically? Is that right?

Can understand the creditor stuff.
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Manwork04
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« Reply #21732 on: June 04, 2018, 21:41:59 pm »

Fcuk me I'm on a roll tonight 255 houses and 3800 square meters of commercial.  Cool
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Manwork04
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« Reply #21733 on: June 04, 2018, 21:43:52 pm »

All of it!

So in short, KT etc now get the CDNL assets which is the land lease basically? Is that right?

Can understand the creditor stuff.
Basically yes they paid £170k for the CVA and now have the leases with plans for 255 houses and 3800 m2 of commercial.
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« Reply #21734 on: June 04, 2018, 22:15:26 pm »

Basically yes they paid £170k for the CVA and now have the leases with plans for 255 houses and 3800 m2 of commercial.

Ah makes sense now. Cheers.
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Manwork04
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« Reply #21735 on: June 04, 2018, 22:29:17 pm »

What is not in the public domain is what the minor changes proposed by KT and DB are that the council don't like?
BTW CDNL is jointly owned 50/50 between KT and DB.
The value of the commercial land is in three bands low, medium and high, even at the lower estimate the land is worth £7m.
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« Reply #21736 on: June 04, 2018, 22:47:22 pm »

I thought we knew all this information already?  The lease owned by CDNL is the one that was reported a number of years ago when planning permission was applied for and granted regarding houses and commercial development.

What KT claims he is trying to do is transfer the lease owned by CDNL over to the football club.  He then said that there are discrepancies between the lease owned by CDNL and the one already owned by NTFC where some land overlaps.  Thatís what they are claiming they are trying to get rectified by the council before the lease can be transferred to the club and CDNL wound up completely.
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Manwork04
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« Reply #21737 on: June 04, 2018, 23:14:52 pm »

I thought we knew all this information already?  The lease owned by CDNL is the one that was reported a number of years ago when planning permission was applied for and granted regarding houses and commercial development.

What KT claims he is trying to do is transfer the lease owned by CDNL over to the football club.  He then said that there are discrepancies between the lease owned by CDNL and the one already owned by NTFC where some land overlaps.  Thatís what they are claiming they are trying to get rectified by the council before the lease can be transferred to the club and CDNL wound up completely.
Where have you seen the statement by KT reference the transfer to NTFC?
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« Reply #21738 on: June 04, 2018, 23:27:23 pm »

Where have you seen the statement by KT reference the transfer to NTFC?

I thought that was part of one of his statements or interviews a couple of weeks ago.  If it wasnít then Iíve made it up in my head.  I could very well be confusing speculation by someone else or something.
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Manwork04
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« Reply #21739 on: June 04, 2018, 23:30:05 pm »

I thought that was part of one of his statements or interviews a couple of weeks ago.  If it wasnít then Iíve made it up in my head.  I could very well be confusing speculation by someone else or something.
I've not seen that anywhere, I think it might be the other way round.
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