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Admin would risk creditors (ST's mum in your scenario) getting a cva as bad as at Dens. 6p in the £ wouldn't be ideal for any creditor. Admin doesn't help anyone.
Liquidation would see those with secure loans protected however. But that would require a majority of creditors to reject a CVA.
Would ST's mum, thon Duncan Drummond Arab, Borthwick and the other Arab really want to get ****e for that?
Probably a reason why Martin bought Gussie rather than lent money unsecured or otherwise. He's protected and worst case will get his dosh back.
Last edited by PortugueseFrank; 26-02-2018 at 11:09 PM.
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