PKH - Otium Could Be Buying Ricoh Arena Lease

Last updated : 10 July 2013 By Covsupport News Service

In the latest bizarre twice, Peter Knatchbull-Huegessen has said that the Otium Entertainment Group could be buying the lease of the Ricoh Arena.

The ACL Director has written on Sky Blues Talk: "As I understand it, (and the Trustees have not yet taken advice because the parts are still moving and there is no point in spending any money on lawyers until they stop moving) if the CVA is accepted Ltd can continue or it can be liquidated.

"If it is liquidated the Option dies. What will not happen, it seems, is that Ltd will be sold to Otium.

"Appleton has accepted an offer from Otium for whatever the assets are, not for the company itself. If Otium bought Ltd they would be buying the lease and licence at the Ricoh.

"As I say, the parts are still moving around and what is today's situation may well not be tomorrow's."

More on this; http://www.skybluestalk.co.uk/threads/33459-Higgs-Charity-Half-Share-of-Ricoh/page2