BBC makes a bit of a typo re Melling
Discussion
From the BBC site:
link to full story: http://news.bbc.co.uk/1/hi/england/la
----------------------------
Bidder says TVR is 'prime asset'
"If his bid is successful he believes that it would take until the summer to get production started.
"It will take six months to get up and running as the infrastructure has gone. But within two years we could expect to be building up to ten cars per year," he said.
----------------------------
Hmmm.
link to full story: http://news.bbc.co.uk/1/hi/england/la
----------------------------
Bidder says TVR is 'prime asset'
"If his bid is successful he believes that it would take until the summer to get production started.
"It will take six months to get up and running as the infrastructure has gone. But within two years we could expect to be building up to ten cars per year," he said.
----------------------------
Hmmm.
Edited by luca brazzi on Monday 12th February 09:31
luca brazzi said:
From the BBC site:
link to full story: http://news.bbc.co.uk/1/hi/england/la
----------------------------
Bidder says TVR is 'prime asset'
"If his bid is successful he believes that it would take until the summer to get production started.
"It will take six months to get up and running as the infrastructure has gone. But within two years we could expect to be building up to ten cars per year," he said.
----------------------------
link to full story: http://news.bbc.co.uk/1/hi/england/la
----------------------------
Bidder says TVR is 'prime asset'
"If his bid is successful he believes that it would take until the summer to get production started.
"It will take six months to get up and running as the infrastructure has gone. But within two years we could expect to be building up to ten cars per year," he said.
----------------------------
I assume they're talking about Hellcats.
im said:
bbc website said:
A bid has been made by a UK car design company for the factory and workforce of Blackpool-based TVR sports car firm.
He also believed a bid had been lodged by former owner Nikolai Smolenski.
He also believed a bid had been lodged by former owner Nikolai Smolenski.
That'll cheer everyone up!!!
Just read that oh please god NOOOOOOOOOOOOOOOOOOOO surely the administrators can see that in the best interest of the company, that any bid by Smolensky CAN NOT be accepted or rewarded to him,irrespectively if he has the finacial clout to out bid everyone else.
That would be so outrageous and unjust after what he has done to the company.
Smolensky shold never be allowed to be invovled with TVR again at any level
Edited by zooooom on Monday 12th February 10:10
zooooom said:
im said:
bbc website said:
A bid has been made by a UK car design company for the factory and workforce of Blackpool-based TVR sports car firm.
He also believed a bid had been lodged by former owner Nikolai Smolenski.
He also believed a bid had been lodged by former owner Nikolai Smolenski.
That'll cheer everyone up!!!
Just read that oh please god NOOOOOOOOOOOOOOOOOOOO surely the administrators can see that in the best interest of the company, that any bid by Smolensky CAN NOT accepted or reward him, irrespectively if he has the finacial clout to out bid everyone else.
That would be so outrageous and unjust after what he has done to the company.
Smolensky shold never be allowed to be invovled with TVR again at any level
zooooom said:
Just read that oh please god NOOOOOOOOOOOOOOOOOOOO surely the administrators can see that in the best interest of the company, that any bid by Smolensky CAN NOT be accepted or rewarded to him,irrespectively if he has the finacial clout to out bid everyone else.
That would be so outrageous and unjust after what he has done to the company.
Smolensky shold never be allowed to be invovled with TVR again at any level
That would be so outrageous and unjust after what he has done to the company.
Smolensky shold never be allowed to be invovled with TVR again at any level
I doubt the administrators would be interested in anything other than the numbers.
Not entirely sure of the law here - but if NS was able to buy the company back this would mean that any company could routinely shut up ship to cheat the suppliers and creditors and then start over with a clean sheet. I suspect that this is against the law and as a result the administrators may not be able to consider a bid from the previous ownership. As NS and co resigned 14 days in advance of receivership it could go to the high court if they don't win and get upset
luca brazzi said:
How many people would buy anything produced by that person? I doubt many of the current owners. He'd be relying on 'new' markets, where nobody knows his history. And I would expect any suppliers to a company owned by him would now insist on payment in advance.
Well I hope your right.
Though I guess some people have no morals and have more money than sense, or to have a conscious when buying a product they want irrespective of its ethos and history.
Edited by zooooom on Monday 12th February 10:33
Jasper Gilder said:
Not entirely sure of the law here - but if NS was able to buy the company back this would mean that any company could routinely shut up ship to cheat the suppliers and creditors and then start over with a clean sheet. I suspect that this is against the law and as a result the administrators may not be able to consider a bid from the previous ownership. As NS and co resigned 14 days in advance of receivership it could go to the high court if they don't win and get upset
It happens all the time mate - it's called "Business Recovery", and there's a whole sector of insolvency practitioners doing this on a daily basis.
NS's Bid
AFAIK This is a very complex situation. In a nutshell: As long as NS did nothing wrong in his first term of ownership (ie the company was failing anyway, with or without him) there is nothing to stop him bidding again.
Presumably, as the major shareholder, he has taken the 'hit' of the financial loss already in as much as shareholders come well down (if they are not at the bottom of) the list of preferred creditors when dividing up what is left of the failed company. Trade Creditors get paid before shareholders.
It may be a different story if there was anything 'untoward' going on during his reign but I have not heard of this accusation being levelled at him.
Sadly, the fact that it would leave a bitter taste in some peoples mouths if he took over again (ie the workforce etc) is not a ground for barring him from doing so.
As has been said: The receivers want the most money in order to satisfy preferred creditors. If he wants to throw more money at it then thats his prerogative.
AFAIK This is a very complex situation. In a nutshell: As long as NS did nothing wrong in his first term of ownership (ie the company was failing anyway, with or without him) there is nothing to stop him bidding again.
Presumably, as the major shareholder, he has taken the 'hit' of the financial loss already in as much as shareholders come well down (if they are not at the bottom of) the list of preferred creditors when dividing up what is left of the failed company. Trade Creditors get paid before shareholders.
It may be a different story if there was anything 'untoward' going on during his reign but I have not heard of this accusation being levelled at him.
Sadly, the fact that it would leave a bitter taste in some peoples mouths if he took over again (ie the workforce etc) is not a ground for barring him from doing so.
As has been said: The receivers want the most money in order to satisfy preferred creditors. If he wants to throw more money at it then thats his prerogative.
Edited by im on Monday 12th February 11:01
Ribol said:
zooooom said:
Just read that oh please god NOOOOOOOOOOOOOOOOOOOO surely the administrators can see that in the best interest of the company, that any bid by Smolensky CAN NOT be accepted or rewarded to him,irrespectively if he has the finacial clout to out bid everyone else.
That would be so outrageous and unjust after what he has done to the company.
Smolensky shold never be allowed to be invovled with TVR again at any level
That would be so outrageous and unjust after what he has done to the company.
Smolensky shold never be allowed to be invovled with TVR again at any level
I doubt the administrators would be interested in anything other than the numbers.
Yes I’m very well aware of that, I know there’s no place for sentiment in business.
I know in the end it will probably come down to the highest bid.
I was just talking with heart and passion and wanting the best for TVR.
zooooom said:
Yes I’m very well aware of that, I know there’s no place for sentiment in business.
I know in the end it will probably come down to the highest bid.
I was just talking with heart and passion and wanting the best for TVR.
I know in the end it will probably come down to the highest bid.
I was just talking with heart and passion and wanting the best for TVR.
Lets face it, if any of that counted the Russian would never have been allowed to buy it in the first place.
In PW's shoes I would have done exactly the same, let's face it how many muppets like that are you going to come across in one life time?
What is it they say..........a fool and his money............easy come, easy go.........
ed as NS will just buy it and do what he was going to do anyway unrepentant said:
gridgway said:
just coz someone buys the facility, doesn't mean they will be producing TVRs!
Graham
Graham
The facility (if you mean the factory) isn't for sale so I dont quite get your point.
Sorry! By "facility" I meant all the stuff up for sale ie the company in liquidation - the assets - IPR, work in progress, tooling, moulds, etc along with the liabilities - debts, lease etc.
Just because you buy it doesn't mean that you will be producing TVRs. You could buy it to strip and sell the assets maybe. You could buy it to turn it into a bicycle factory (unlikely). You could buy it to get the assets you need to restart TVR production outsourced to Bertone for example.
Graham
pies said:
NS will just buy it and do what he was going to do anyway 
Why would he?
The staff hate him, the customers hate him and he has already fukced it up first time round when he stood half a chance of getting somewhere with it.
Surely if he goes there again all he will achieve is to pi55 more money away and make himself look even more incapable of getting the job done than he already has?
Gassing Station | General TVR Stuff & Gossip | Top of Page | What's New | My Stuff