Interesting!
As I mentioned before secured creditors charged against a specific asset can appoint an Administrator to take possession of that asset on default of their settlement.
Looks to me that Ken and Michael James are going to battle it out for the hotel (both have secured charges set against it which are now in default) because Fildraw have apparently not covered the hotel in their appointment of Administrators!
"Appleton and Miller will take charge of parent company Burnden Leisure Limited and the Bolton Wanderers Football and Athletic Company.
The Whites Hotel does not fall under their control, however, and could be placed into the hands of a separate administrator by one of the Qualifying Floating Charge Holders, local businessman Michael James, or even Anderson himself".
[You must be registered and logged in to see this link.]
As I mentioned before secured creditors charged against a specific asset can appoint an Administrator to take possession of that asset on default of their settlement.
Looks to me that Ken and Michael James are going to battle it out for the hotel (both have secured charges set against it which are now in default) because Fildraw have apparently not covered the hotel in their appointment of Administrators!
"Appleton and Miller will take charge of parent company Burnden Leisure Limited and the Bolton Wanderers Football and Athletic Company.
The Whites Hotel does not fall under their control, however, and could be placed into the hands of a separate administrator by one of the Qualifying Floating Charge Holders, local businessman Michael James, or even Anderson himself".
[You must be registered and logged in to see this link.]