11-09-2015, 14:46
From my post on 03/09/2015 {#943} in RIFC, citing a thread on RM last year {2014} :
Thread (not started by me) : If debts were settled can oldco and newco merge?
Me :
I asked this question too, based on three events :
1} Oldco wins the 'Big Tax' Case - that has happened, with the dismissal of HMRC's appeal.
2} Oldco gets damages from Collyer Bristow - the damages have been awarded.
3} Following the above, Oldco becomes solvent and is finally able to repay the genuine creditors, including the Bondholders.
There would be no need for the Oldco to be liquidated, so there are various options.
The easiest would be for the Oldco to become another subsidiary of RIFC, like the Newco.
Thread (not started by me) : If debts were settled can oldco and newco merge?
Me :
I asked this question too, based on three events :
1} Oldco wins the 'Big Tax' Case - that has happened, with the dismissal of HMRC's appeal.
2} Oldco gets damages from Collyer Bristow - the damages have been awarded.
3} Following the above, Oldco becomes solvent and is finally able to repay the genuine creditors, including the Bondholders.
There would be no need for the Oldco to be liquidated, so there are various options.
The easiest would be for the Oldco to become another subsidiary of RIFC, like the Newco.
AVFC RFC SAFC