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Redevelopment Closer Than Ever?

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Author Topic: Redevelopment Closer Than Ever?  (Read 1819522 times)
West Stand (+ 1 Hidden) and 29 Guests are viewing this topic.
BedsCobb
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« Reply #21600 on: June 03, 2018, 16:37:29 pm »

No we dont, but Buckinghams can be forced to clear the not fit for purpose heap of crap thats stood there..
They dealt with cardoza and its he they should seek loses from, but they've probably been over paid already. £4m you couldnt make it up😂😂😊
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« Reply #21601 on: June 03, 2018, 17:34:17 pm »

Its was ordered and commissioned through NTFC, therefore the debt remains with the football club.They have declined to take action against the club on the basis they may recoup their costs through later development. They have a charge on the work done. They require paying before further work can proceed. They may take an offer but an offer needs to be made.
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« Reply #21602 on: June 03, 2018, 21:32:12 pm »

Its was ordered and commissioned through NTFC, therefore the debt remains with the football club.They have declined to take action against the club on the basis they may recoup their costs through later development. They have a charge on the work done. They require paying before further work can proceed. They may take an offer but an offer needs to be made.

Exactly, the club can't wash its hands of the debt just because the shysters that organised it have left.
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« Reply #21603 on: June 04, 2018, 06:49:47 am »

Exactly, the club can't wash its hands of the debt just because the shysters that organised it have left.

is it in the club accounts?
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« Reply #21604 on: June 04, 2018, 08:07:58 am »

is it in the club accounts?

No, you won't find it either, the contract for the East Stand was with CDNL and as we know they are liquidated.
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« Reply #21605 on: June 04, 2018, 08:38:27 am »

Which will be why they want the two leases separated?
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The Rauldinho
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« Reply #21606 on: June 04, 2018, 10:36:22 am »

Led to believe some rather big news is very imminent.

Any inkling on exactly how imminent this big news could be?
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« Reply #21607 on: June 04, 2018, 11:02:43 am »

No you won't either, the contract for the East Stand was with CDNL and as we know they are liquidated.


so the club have washed their hands of the debt?
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« Reply #21608 on: June 04, 2018, 11:11:23 am »

https://www.exetercityfc.co.uk/news/2017/may/work-to-begin-on-3.5-million-stadium-improvements/

In another article, I read that the stand doesn't go the full length of the pitch. That figure does include a bit of work on their away end though, but can't find anywhere where its broken down.

I think 4 million quid is about what you'd need to kit out the East Stand to a decent'ish spec. Based on a bit of googling I've just done, anyway!

I think the frustrating thing though is that the 'old stand' was perfectly functional, held (1600?), no restrictive views etc. So to spend  4 million quid on essentially on a few boxes and some conference facilities seems a bit over the top. HOWEVER. That was back then. We are where we are and I don't think it can be disputed that its going to cost around that figure to end up with anything half decent.



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Cordwainer2
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« Reply #21609 on: June 04, 2018, 11:15:00 am »

Every time that I look at this board, I hope for something new. Unfortunately its the same old stuff ad infinitum. Please if you have nothing new to say, don't waste our time. I know I don't have to look but somehow something draws me into it. Its the hope that kills you.
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« Reply #21610 on: June 04, 2018, 14:57:07 pm »

so the club have washed their hands of the debt?

the contract was between CDNL and Buckinghams.
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« Reply #21611 on: June 04, 2018, 15:21:56 pm »

Every time that I look at this board, I hope for something new. Unfortunately its the same old stuff ad infinitum. Please if you have nothing new to say, don't waste our time. I know I don't have to look but somehow something draws me into it. Its the hope that kills you.

It's the hope of news on prosecutions that draws me in. Not gonna happen though is it?
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« Reply #21612 on: June 04, 2018, 16:14:24 pm »

It's the hope of news on prosecutions that draws me in. Not gonna happen though is it?
Its not over yet........
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« Reply #21613 on: June 04, 2018, 16:46:22 pm »

Its not over yet........

Oh you tease.
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« Reply #21614 on: June 04, 2018, 17:04:12 pm »

the contract was between CDNL and Buckinghams.

So CDNL end up getting liquidated and Buckingham’s 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....let’s face it, they had no other assets as they were set up specifically to deal with the Sixfields project.

Doesn’t seem right to me....morally that is!
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« Reply #21615 on: June 04, 2018, 17:44:57 pm »

http://www.bbc.co.uk/news/uk-england-northamptonshire-34604036
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« Reply #21616 on: June 04, 2018, 18:02:53 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 #21617 on: June 04, 2018, 18:05:15 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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« Reply #21618 on: June 04, 2018, 18:17:29 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 #21619 on: June 04, 2018, 18:26:44 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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