Liquidators Report of Rinkcorp

[Stewart]

Welcome to The Inferno and thank you for being a Sheffield voice of reason. Claims by others of "no debt" in Yorkshire are disingenuous at best....

Nobody said there wasn't any debt. What was said, and is true, is that Ragan didn't inherit any debt as he only bought the IP rights and not the operating company!

Any debt there may have been belonged to Maraini Phillips

 

[BBW]

Welcome to The Inferno and thank you for being a Sheffield voice of reason. Claims by others of "no debt" in Yorkshire are disingenuous at best....

Nobody said there wasn't any debt. What was said, and is true, is that Ragan didn't inherit any debt as he only bought the IP rights and not the operating company!

Any debt there may have been belonged to Maraini Phillips

Allegedly

 

[Stewart]

Welcome to The Inferno and thank you for being a Sheffield voice of reason. Claims by others of "no debt" in Yorkshire are disingenuous at best....

Nobody said there wasn't any debt. What was said, and is true, is that Ragan didn't inherit any debt as he only bought the IP rights and not the operating company!

Any debt there may have been belonged to Maraini Phillips

Allegedly

What? Allegedly he bought the IP rights? That's true I guess, as to buy something you actually have to pay for it.

As for the debt part, Ragan stated in an interview that he hadn't bought any of Steelers debt, just the IP rights.

 

[Earnie]

My type of accounting involves two colums:-

Money IN Money OUT

If OUT is bigger than IN then you have made a loss. Simple?

All we have is a list of creditors which does not show how it all played out.
For Rinkcorp to show that much loss in such a short time the debt must have been there before they started surely? Then one can ask where was most of it - Sheffield or Cardiff?