>>Did the highest price and the best payback to creditors secure ownership of
Leeds United.?<<
Different scenario.
The required majority of creditors considered it to be the best offer, and
as the receiver knew the principal creditors could block any alternative, the
deal was passed.
The receiver might also have considered that the Bates deal offered the
business the best chance of moving forward, rather than being asset-stripped
by a
property developer, which seems to have been at the heart of the five
alternative proposals.
Again, we seem more concerned about the best payback for the creditors
rather than the best deal for Leeds United.
And again, despite copious anti-Bates rhetoric, nobody has come up with a
better plan than Bates. Or any form of plan, for that matter.
Apart from lovely Mr Morris, whose previous plans included knee-capping our
long-serving right back.
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