Sands Heritage to be Wound Up

The Save Dreamland Campaign was launched by Joyland Books in January 2003 and is now supported by several thousand people. This is the place to discuss all aspects of saving Margate's famous amusement park and its iconic , Grade II listed Scenic Railway, Britain's oldest roller coaster.

Moderators: dave771, porf, Sarah

Sands Heritage to be Wound Up

Postby Bob » 18 Sep 2017, 08:03

Sands Heritage is to be wound up and to go into liquidation unless any objections are made to this


Dreamland creditors: Meeting called to arrange payment of £2.9 million debts

The company running Dreamland has applied to the High Court for a voluntary arrangement to settle debts of almost £2.9 million. Sands Heritage Limited has called a creditors' meeting for December 23, where proposals around outstanding debts will be discussed. But, Thanet council this evening revealed it knew nothing about the formal arrangement with creditors.

Under a voluntary arrangement (CVA), companies can continue to trade where there is an agreement with creditors to pay debts over a fixed period. Directors of the company have formally applied to enter into a CVA as they say it is not in a position to meet its liabilities “as and when they fall due.”


The CVA proposes that the company will pay its creditors an initial sum of £912,992 within one week of approval of the arrangement. It says that money has become available following the settlement of a dispute with Thanet council in November. The full sum owed of £2.9 million will be paid within five years, according to the agreement
Bob
 
Posts: 507
Joined: 30 Nov 2003, 21:21

Re: Sands Heritage to be Wound Up

Postby stuart » 18 Sep 2017, 09:57

Bob wrote:Sands Heritage is to be wound up and to go into liquidation unless any objections are made to this


Dreamland creditors: Meeting called to arrange payment of £2.9 million debts

The company running Dreamland has applied to the High Court for a voluntary arrangement to settle debts of almost £2.9 million. Sands Heritage Limited has called a creditors' meeting for December 23, where proposals around outstanding debts will be discussed. But, Thanet council this evening revealed it knew nothing about the formal arrangement with creditors.

Under a voluntary arrangement (CVA), companies can continue to trade where there is an agreement with creditors to pay debts over a fixed period. Directors of the company have formally applied to enter into a CVA as they say it is not in a position to meet its liabilities “as and when they fall due.”


The CVA proposes that the company will pay its creditors an initial sum of £912,992 within one week of approval of the arrangement. It says that money has become available following the settlement of a dispute with Thanet council in November. The full sum owed of £2.9 million will be paid within five years, according to the agreement


Perhaps you should check the content of your post. It looks like you've muddled up the facts between December 2015 and the new arrangement to settle creditors.
stuart
 
Posts: 131
Joined: 02 May 2006, 21:12
Location: Ramsgate

Re: Sands Heritage to be Wound Up

Postby aweber1us » 18 Sep 2017, 13:07

Yes but to be fair hes not posted any crap on hear for a while. It keeps him happy and gives a laugh , Dreamland has been so great this year hes had to jump onto a few other forums.
aweber1us
 
Posts: 165
Joined: 13 Mar 2005, 18:51
Location: Cranbrook Kent


Return to Save Dreamland Campaign Forum

Who is online

Users browsing this forum: No registered users and 1 guest

cron