MK demise
Joined: Oct 2009
Posts: 152
Likes: 3
From: England
While 2p in the £ may not be much it's not uncommon in liquidated companies, it just depends on how much debt their creditors have allowed them to run up relative to the value of the assets. Most companies run at a below-parity assets to debt ratio, which isn't a problem as long as you are generating cash to service those debts. If the cashflow stops, well, you know the rest.
There's a natural inclination among creditors not to foreclose on their debts knowing that could force their customer out of business, but than can run into increasing their exposure in the hope that the light may be at the end of the tunnel - until eventually it is revealed as an oncoming train. Ironically the willingness of MK staff to work on with wages owed added to the debt pile and hence reduced the payout available from the asset realisation.
There's a natural inclination among creditors not to foreclose on their debts knowing that could force their customer out of business, but than can run into increasing their exposure in the hope that the light may be at the end of the tunnel - until eventually it is revealed as an oncoming train. Ironically the willingness of MK staff to work on with wages owed added to the debt pile and hence reduced the payout available from the asset realisation.
Joined: May 1999
Posts: 1,846
Likes: 4
From: Bristol, England
Off topic, but the UK CAA have said that any pilots that hold JAA ATPLs restricted to G reg aircraft only which would have been obtained by taking two exams and completing a skills test on type can have that restriction removed and a full JAA licence issued without any further exams or flight tests. I think this applies to many ex-MK pilots.
Joined: Jul 2009
Posts: 31
Likes: 0
From: Under a bridge
While I find MK's actions unforgivable, I also must stand by my previous posts predicting their demise. I find myself vindicated in my charges against MK. All of you who have lambasted me and my views can SUCK ON IT!
