trublusince1982 243 Posted March 26, 2015 Share Posted March 26, 2015 the creditors will get paid. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,471 Posted March 26, 2015 Share Posted March 26, 2015 It should go to creditors of the Oldco We were specifically told when the RFFF was launched that the cash would not be used to pay Oldco creditors. 0 Quote Link to post Share on other sites More sharing options...
Crimson Dynamo 128 Posted March 26, 2015 Share Posted March 26, 2015 We were specifically told when the RFFF was launched that the cash would not be used to pay Oldco creditors. Was it not set up to keep the Oldco going? 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,471 Posted March 26, 2015 Share Posted March 26, 2015 Was it not set up to keep the Oldco going? Yes, with the cash being used to pay ongoing costs post-administration. We were told that it was not going to be used to pay pre-administration creditors. 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted March 26, 2015 Share Posted March 26, 2015 HMRC are just as entitled to claim money back as any other creditor, ignoring the BTC etc. because that's another story. Er actually, no they aren't in this context. Not at all. They and all the other creditors have absolutely no entitlement to any of the RFFF fund. Their entitlement to Old Co debt is also another story. The fund could choose to give money to whomever it thinks is deserving. 0 Quote Link to post Share on other sites More sharing options...
Crimson Dynamo 128 Posted March 26, 2015 Share Posted March 26, 2015 Er actually, no they aren't in this context. Not at all. They and all the other creditors have absolutely no entitlement to any of the RFFF fund. Their entitlement to Old Co debt is also another story. The fund could choose to give money to whomever it thinks is deserving. I was meaning in terms of them being a creditor to the oldco, they don't have any right to the RFFF unless a decisions was made to make the RFFF money available to creditors, though as Bluedell has explained that would seem unlikely to happen. I personally don't think any of the RFFF money should go to the newco 0 Quote Link to post Share on other sites More sharing options...
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