EW in voluntary admin, if they go in to liquidation , mfc could have a problem . If liquidators find coy trading while insolvent, they may look for preferred payments to creditors to see if theycan get money repaid, if coy paid mfc money in last 6 months instead of another creditor thats called a preferred creditor( simple explanation , if an accountant wants to expand please do so)

Satan, a preferred creditor is a creditor that has some right to or lien over the assets of a company over other creditors who do not have such creditors. In a windup such preferred or secured creditors rank ahead of unsecured creditors for the payment of money.A typical secured creditor is a bank who may have a lien over assets in regard a debt. I am not aware if EW has any secured creditors or if they are outstanding. The money paid by EW was for amounts outstanding to MFC for sometime.

And you are right they are only in voluntary administration atm. Its well short of liquidation at this point. In a liquidation, the liquidator can call back moneys paid by the Company to non preferred creditors in the 6 to 12 months if there is strong belief that the payments were made at a time the company was trading while insolvent. Any secured creditors will be paid from the assets of the Company first. Its unclear what EWs true financial position is. Unsecured creditors at this point should be nervous though.

Posted 11 April 2012 - 10:33 PM

Satan, on 05 April 2012 - 10:36 PM, said:

Out of left field view , delibrate attempt by pollis to get sponsorship contracts broken by other party to save coy from going bust?

the more i read about ew and BP, the more this view is not so left field, By demons, rebels and victory ending agreements, millions have been saved for EW

guess it may not have worked

the more i read about ew and BP, the more this view is not so left field, By demons, rebels and victory ending agreements, millions have been saved for EW

By trashing the company name and destroying its brand and crucifying his business. I think not. More out of mind than out of left field view.

Posted 11 April 2012 - 10:33 PM

Satan, on 05 April 2012 - 10:36 PM, said:

Out of left field view , delibrate attempt by pollis to get sponsorship contracts broken by other party to save coy from going bust?

the more i read about ew and BP, the more this view is not so left field, By demons, rebels and victory ending agreements, millions have been saved for EW

guess it may not have worked

But he made these claims on his facebook YEARS ago.

They pre-dated the sponsorship deals.