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Thread: Shoreham Closed
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Old 16th Apr 2008, 11:56
  #76 (permalink)  
Fuji Abound
 
Join Date: May 2001
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Based on the news reports it is the Group that are in Administration. DP is quite correct that were there only a single loss making company the Group would not be Administration and nor would the shares have been suspended.

The Admintrator will dispose of those assets he can for the best possible price he can achieve.

Albermarle would almost certainly be prepared to pay a premium for the airport because they own the commercial property. A deal has obviously been quickly done and on balance KPMG will feel it was a "good" deal doubtless taking into account the claims that would be made if the airport had remained closed for any length of time.

It would be interesting to know who controls Albermarle (I have not done any research) which might give a flavour for their ability to "re-generate" Shoreham and provide some comfort for the tenants that they are a sound a secure custodian and operator of the asset.
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