Paulie • 5 years ago
100%. This is a monstrous manipulation of rules that keep Customers safe and businesses solvent. The CAA are as complicit as TC in allowing this to continue, seemingly blessed.
Its clear TC are out of cash, and in this game - especially at this time of the year and the upcoming winter spell that keeps businesses afloat. The only reason why TC are still hanging around and the CAA is allowing them to is that the CAA licensing is literally the only real asset that could hold any real value for a future investor.
However, this being dangled as some kind of carrot is a complete manipulation of the rules designed to do nothing more than keep the wolves from the door in terms of liquidation. My view is that a real and sensible deal will not be agreed and the CAA are probably trying to spin this situation as much as possible to avoid a bankruptcy situation which would hold them accountable to repatriating thousands of TC Customers - much wiser to push this back until after peak.
Paulie • 5 years ago
Sorry TC is a dead duck. All the proposed 'Investors' have been exposed to that fact over the last few weeks when TC have opened their books to them and are now trying to work out the best way to back-out of the 'Investment' without looking like idiots for considering it in the first place.
There is no value in its assets, shareholders will be wiped out in any kind of financial investment, the equity of nothing remains nothing. I know this all sounds very cruel, but it's a very hard reality - which is going to bite even harder come winter. Its a real shame, but it isn't going to work out.
TC should be shut down.
The CAA are breaking their own rules allowing them to continue to trade.
No one in their right mind is going to pump 3BN plus (2.1BN Debt and extra for working capital) into a dead company.