Thursday, August 06, 2009

West Ham Owners Face Liquidation

Straumur, who own 70% of West Ham through CB Holding, need to convince creditors today to accept shares in place of debts in the bank. If the company fail to convince more than 30% of the creditors to swap their debt for shares Straumur will be put into liquidation.

If the company is put into liquidation they will then be forced to hold a fire sale of their assets, including West Ham.

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