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Looks like SBC have been paid off

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AFAIK @Grumpy Old Man cleared this point in a much earlier post, basically advising that the debt had been cleared and that it was just documents at Companies House that needed to be updated which could take 6 weeks
 

Stuff said:
For the Stadium at least.

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Is this significant ? @Grumpy Old Man

Charge code 0318 9630 0005
Created 27 August 2014
Delivered 2 September 2014
Status Satisfied on 28 August 2018
Transaction Filed
Registration of a charge (MR01)
Persons entitled
  • Security Benefit Corporation
Brief description

F/H property being the stadium of light sunderland t/no. TY340536.
Contains fixed charge.
Contains floating charge.
Contains negative pledge.
Click to expand...

Highly. The charges over SAFC are also gone. So it looks as though Short has paid off the amount that went up to Drumaville.

The only charges over the club are those granted to Short to cover the outstanding purchase payments.

Happy days.
 
Answering other points.

Donald said at the RAWA AGM that Short had taken over responsibility for the part of the SBC debt unpaid at the takeover, and that SBC would not be releasing the charges until that was repaid. Clearly, it looks like this is what had happened.

The charges in favour of Drumaville are security for the purchase instalments still owing by the new owners, presumably owed from Madrox Partners, which is now the club's ultimate holding company, rather than Drumaville.
 
Good stuff, so presumable the remaining charge will stay there until May 2020 when all remaining purchase fees will be due by the 3 muskateers / Madrox - unless they decide to pay it off early.
 
Grumpy Old Man said:
Highly. The charges over SAFC are also gone. So it looks as though Short has paid off the amount that went up to Drumaville.

The only charges over the club are those granted to Short to cover the outstanding purchase payments.

Happy days.
Click to expand...
If you say happy days GOM it's good enough for me.

Thanks mr short and our new owners!

Onwards and upwards!
 
gazza.1990 said:
Good stuff, so presumable the remaining charge will stay there until May 2020 when all remaining purchase fees will be due by the 3 muskateers / Madrox - unless they decide to pay it off early.
Click to expand...

That's a reasonable assumption. As instalments are made then, clearly, the chances of the charges being activated will become increasingly remote.
 
Stuff said:
Companies House list one outstanding charge on Black Cat House but I can't imagine this is a lot unless it covers other land around it ?
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I was meaning the charges in favour of SBC. The one left is part of the security held by Short for the outstanding purchase instalments.
 
as Mr Keane once said ... sometimes you gotta lose to win sometimes.
in our case, that means lg1 and a long road back.
 
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