T
The Grumpy Loyal
Guest
Graham Clark":35nrxqfo said:I can only endorse what others have said about this afternoon's Rescue Plan meeting. It was a very positive meeting and we are now all much, much clearer on the detail of what needs to be done and the timescale needed to deliver it.
As a Rescue Plan it can only come into effect if or when the Sale and Purchase Agreement does not complete due to the failure to meet the condition precedents of funding for completion or Football League approval. We understand that the timescale to meet the condition precedents of the Sales and Purchase Agreement extends to 5th August unless one or other of Bishop International Ltd or PAFC (125) Ltd formally withdraw.
The implications of a late withdrawal or failure to comply with the terms of the Agreement are obvious which is why the work on the Rescue Plan is intensifying. As before please do not expect any detail relating to the position of the secured creditors and football creditors to be revealed. It is entirely appropriate that details remain confidential between the relevant parties. Suffice to say though, very significant progress has been made today as will become clear.
No-one should doubt the will, determination and ability of the Rescue Plan group to put forward a coherent and deliverable Plan should the Sale and Purchase Agreement (Plan A) fail to complete. I would like to add a special thank you to James Brent for travelling down to Plymouth after an overnight flight from India and then going back to North Devon for a birthday party. If there are any doubts about his commitment that should say it all.
There seems to be a general concensus from those involved with Brents bid, that should Heaneys deal fall through, then the Brent bid being grabbed swiftly by Guilfoyle, is a mere foregone conclusion.
It may well be the 'next best bid'.
Or it may not.
Guilfoyle won't be passing the 'prefered bidder' status to Brent, purely on the back of him cosying up with locally prominent messageboard contributors, and an Interim Trust leader nominee.
There's more than a smattering of double standards too, with the 'zero information' on the detail of Heaneys bid, now being matched by the same 'zero' info being released into the public domain by Brent and Co.
From this point forward, cash will slowly be dripfeeding into the Home Park coffers, so timescales wouldn't be quite as desperate as they have been up to now.
If Heaneys bid fails, much to my chagrin, I reckon the Circus may continue for a good while yet...