777 Partners Takeover

[Toffee1]

[Trowel]

[Cereal Killer]

There goes our loan signing of the next Brazilian wonder kid

[Cozzie]

Laughable.

[AndSeel]

777 are finished. Hope we are using the time wisely to find new investment.

Sent from my SM-G977B using NSNO Everton Forums mobile app

[Toffee1]

[CraigS...]

So if this lot go under do we have to pay them back ?

[Trowel]

Once Everton has touched you...

[Juanito]

[Gary1878]

So if this lot go under do we have to pay them back ?

Under administration/liquidation, a company's assets (including loans that are owed to them) get sold off to repay their own debts.

Everton's loans will likely be sold to another party and so the debt is very unlikely to go away.

Whatever company acquires the debt from 777 will do so at a discounted value - so if 777 lent us £200m, another company might buy it for £100m, depending on the type of debt.

[Dchans]

So ideally we want them to go bust, sell the debt at a much lower price and be taken over by someone who actually has the fucking money to do so??

[Kerryblueboy]

Surely if it’s unsecured debt it dies with them if they go bust couldn’t make this stuff up

[AjaxAndy]

Surely if it’s unsecured debt it dies with them if they go bust couldn’t make this stuff up

I thought that but someone corrected me on here and I googled it to check... Someone else buys the debt and we still pay.

I think the only difference is maybe 777 sell the debt for less than it's worth, but I'd imagine that wouldn't actually change how much we owed.

[StirlingBlue]

I thought that but someone corrected me on here and I googled it to check... Someone else buys the debt and we still pay.

I think the only difference is maybe 777 sell the debt for less than it's worth, but I'd imagine that wouldn't actually change how much we owed.

It doesn’t change it but it’s like debt collectors in real life, you might be able to make a deal with them to pay x amount over time of x% less if you clear the debt now

[777Kidnappings]

Could we buy our own debt?? If we had new owners who could afford it.