You may well be right Elixir, but I know of more than one case when the "mutual consent" road was not acceptable.
The Secured Bonds are subject to a standard set of events of default (âEvents of Defaultâ) including
non-payment, cross-default and insolvency. The termination of the appointment of Julian Winter,
Graham Taylor, Stuart Timperley or David Fransen as a director of Watford Leisure or the Club also
comprises an Event of Default. The occurrence of an Event of Default allows any Bondholder to
declare his Secured Bonds immediately due and payable.
It would seem that the above wording was changed in March. The only two names in the revised version are Graham Taylor and Stuart Timperley.
But H did your third one pass or fail?
The fact that the document was revised in this manner would indicate that JW's departure was, if not planned, at least forseen.
Well done h.......what is the overall success rate that you tell newbies about?
Winter seemed like the only trustworthy person there to get us out of this mess.
There's Taylor but, whilst he has our interests at hand he's not a businessman.
