RE: Small buys31 May 2020 13:41
Bulls*&t mate you really need to stop swallowing the guff the PR and FG keep feeding you,Since you now appear to have become their latest patsy mouthpiece (after the sad passing of the previous two) you may want to ask them (or not)to explain the reluctance to sue (we all know how much they love a court case) the relevant parties in the debacle below
Thu, 19th Sep 2019 07:00
19 September 2019
Clear Leisure Plc
(“Clear Leisure” or “the Company”)
Update on Proceeds from Mediapolis Land Auction
The Board is pleased to announce that, following increasing legal pressure being put upon the receiver in charge of the Mediapolis Srl (“Mediapolis”) bankruptcy and in order for Clear Leisure 2017 Ltd (“CL2017”) to obtain the proceeds due from the sale of the Mediapolis land, the Auctioneer has now proposed to the Ivrea Court to allocate the total of €1,938,309.98 to “Fallimento Mediapolis Srl” (Mediapolis Bankruptcy srl). Fallimento Mediapolis Srl is the new legal name of Mediapolis Srl, following the bankruptcy procedure.
The Mediapolis land was sold at auction in July 2018 for €1,958,400.00 and it has been transferred to the purchaser of the land by the Court of Ivrea on 22 February 2019. The difference of approximately €20,000 between the sale price of the land and the sum assigned to Fallimento Mediapolis srl is due to the payment of the costs of the seizure procedure incurred by Ivrea Court.
The allocation proposal requires the formal approval of the Ivrea Court at a hearing scheduled for 22 November 2019.
Once the funds are transferred to Fallimento Mediapolis Srl, the Mediapolis receiver will be formally asked again to proceed with an anticipated assignment of such funds immediately to CL2017, as the beneficiary of the first charge on the Mediapolis Land, net of further procedural costs to be charged by the receiver. The amount receivable by CL2017 will initially be up to a maximum of 80% of €1,938,309.98 (being approximately €1,550,648). As a general principle, Italian receivers must distribute funds to creditors at the end of the bankruptcy procedure; however, under certain circumstances, Italian law allows to anticipate such a distribution of up to of 80% of the total sum due.
IN SHORT WHERE IS OUR MONEY?