EWM Group, EWM Limited and Carlisle United 1921 Limited

The EWM 'facility' and associated charge are in EWM Limited which is a subsidiary of EWM Group.

EWM Limited is not one of the subsidiaries that Philip Day is going to save as a future going concern.

Thus the liquidator of EWM Group can implement the charge on the whole of the assets of Carlisle United 1921.
If such implementation of the charge does not yield the full amount of the debt then the Personal Guarantees of the
Holdings directors can be exercised.