The banks will appoint recievers if they enter administration and they will then only look after the banks interests - and we know Goldman are pushing their own agenda.
So Goldman as senior lender will then be happy to offload the pubs to one of their consortium no doubt at a nice discount to book value.
I personally think(hope)things should be ok as there are 3 parties at the table, plus the old laundy offer to go back to - and a swag of pubs like this doesn't come to market too oftern and once it's gone it would take years to replicate.
If goldman manages to push this into the recievers then I think that there would need to be some serious questions asked about the tactics used, and also the competence / culpability of the board in letting goldmans get to where they have.
RPF Price at posting:
6.1¢ Sentiment: LT Buy Disclosure: Held
