On 8 November a deal was concluded, for which negotiations started on 16 September (sic!), the so-called pre-packaged sale.
The following is from a letter to creditors by the Administrators:
"The initial consideration was split as follows:
Stock, funiture and simulators in Cranfield £240,000 of which £40,000 is to be uitilised to discharge the finance outstanding on two of the sims.
Intellectual property £34,000
Goodwill £7 !!!!!!!
Business Names £ 4,200 !!!!!!
the shares in CIUK £ 88
supplier contracts £42
prepay liabilities £1 !!!!!!!!
Company Records £862
In addition to the above, there is provided within the sale agreement for additional consideration in respect of goodwill to be paid in October or November 2013 which is dependant upon the number of students who have paid the instalments in respect of an integrated course.
A maximum of £108,000 additional consideration may be payable."
Bold lettering and exclamation marks are mine.
