I see that the Administrator has made another progress report on the hotel, filed on 17th June -[You must be registered and logged in to see this link.]
It's entitled a 'joint Administrators report' but it is all about the hotel - and is from the three Administrators appointed by Quantuma.
The report shows that £7,472,425,00 was paid for the hotel by FVWL and the payment was made up of £6,482,425 that was owed to Prescot Business Park (Michael James) being it's secured creditor status for £5.5m plus accrued interest, an amount of £441,000 as initial down payment by FV and the balance of £549,000 in ten monthly payments on £54,900 starting 30th Sept, 2019. (p11/12 of 31)
The first six payments have been made but the hotel (due to virus/reduced income) asked for the last four payments to be deferred starting again in September 2020, which was agreed.
The report covers a period from the 14th May, 2019 (when Admin started) to the 13th May 2020 (therefore a years trading) and also an 'extract' of that period being 14th Nov, 2019 to 13th May 2020 - I've not spotted yet why that is? (FV took ownership on 28th Aug, 2019 also the hotel was 27th Nov, 1998 (p19 of 31) so maybe to match up with it's accountancy period???).
Something must be significant about that date (maybe even obvious) but it eludes me exactly what that is so far?
As well as this there is also attached a further progress and Trading Account up to the 9th June.
Keep in my though that these reports are for the 'old' hotel company 'Bolton Whites Hotel and not the new 'existing and trading one 'FVWL Hotel'.
The report goes on to say that after there are still costs incurrent but remaining unpaid (such as their solicitors fees) and also their own fees but these will be settled from the sale leaving a balance of £123,000 to be distributed to unsecured creditors (remember these are not footballing creditors) who will receive something like 15p in the £. (p13 of 31)
A part of Administrators duties they have to investigate and report on the conduct of the Directors (Ken Anderson) which was sent to the Insolvency Service on the 9th August, 2019 (almost a year ago now!)
It seems that the Administrators fees (just for the hotel remember) will total £724,570.00 (p15 0f 31).
Finally it seems to me that the Administration/Liquidation had intended to end when the final deferred payment was received and thus all accounts and unsecured creditors could be settled (which would have been about this time now but this as been extended to around the start of next year). p17/31