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Mike Ashley (former owner)


Disco

?  

464 members have voted

  1. 1. ?

    • Takeover
      21
    • Fakeover
      11


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Guest godzilla

Oh s***, I just felt a twinge of hope. Push it down, push it down.

 

You have been up and down nearly as much as Sonia's knickers  :cheesy:

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Guest chopey

I so convinced this is it I've gone back to origional profile picture from when I first joined, I think my constant changing must have been the final nail for Ashley

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As a lawyer in this area:

 

When the entity is a newco, would the lawyers still run the insolvency checks on the morning of completion? I'm guessing they need to have at least been incorporated the day before to allow a clean search.

 

 

 

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As a lawyer in this area:

 

- It's impossible for that company to be fake. It is possible for it to be fraudulently incorporated but you'd need a lot of personal information about the two directors, and would need to fraudulently impersonate Pinsent Masons, the law firm that has submitted the documents. The company is using PM's own, bespoke articles rather than the model articles, so any fraudster would need to have somehow obtained these as well. In short, it's real.

 

- The two directors are not directors of any other UK company, so whatever they are involved with is something new to them and not run of the mill.

 

- Companies established to acquire assets are often done so one or two days before completion of a deal. In other cases, they are established to ensure they have secured the name they want and then left on file for months while the deal is completed.

 

- It is common for businesses to have more than one law firm acting for them in the M&A sphere, often on different deals. I know that MA has used different law firms in the past. It could well be that Pinsent Masons are acting as UK counsel for the buyer, not the seller. They would need UK lawyers themselves regardless.

 

 

 

Thanks for the explanation! O0

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As a lawyer in this area:

 

When the entity is a newco, would the lawyers still run the insolvency checks on the morning of completion? I'm guessing they need to have at least been incorporated the day before to allow a clean search.

 

You would run the searches on the day of completion - they take ten minutes.

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So potentially, how soon do we reckon?

 

If we take Caulkins cryptic tweet earlier & the timeline for registering & completing the last purchase, my guess is Tomorow / Friday

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