Jim Douglas Jr. wrote:Burby,
I've been at this quite a while. Ownership doesn't change the reasons for a CPO. They're exactly the same as they were 2 weeks ago.
They're likely trying to minimize financial losses by doing this. There must be a tax break or something in it for them by transferring it. They may be able to claim a loss twice or something.
They sell it to themselves at a loss, write it off, then the second entity gets to write it off when the CPO goes through.
...something of that nature.
Oh, to answer your question. No I can't hold off. We've been waiting for years for this.
Hey Jimbo! We've both been at this for far too long
Thanks for the explanation of the tax benefits of the transfer - there has to be some reason why they'd bother selling the cinema while it is still part of the CPO, but it seems to me that it is yet another ploy to delay things.
As for the celebrations - I still think it is prudent to wait until everything is done and dusted before getting triumphant. This is a public forum, so photographs of morbidly obese naked people and "we win, you lose" posters are like red rags - and I have no doubt that the opposition are keeping tabs on this forum.
That's why I said what I said before - it isn't over yet. The end is in sight, but I've been watching for years and seen every possible obstacle thrown in our way. After seeing what happened to the Rotunda at Folkestone, I have no doubt that every possible trick in the book will be pulled before we are finally able to get started. Once it's all sorted, we have the title deeds and access to the site - perhaps we should have a competition and see who can create the best celebratory poster.
I really hope you'll be able to come over when the Heritage Amusement Park opens - you have been one of our most vocal and active supporters and I'm looking forward to meeting you in person!
Rob