Bolton Settle Bank Debt Held Against Whites Hotel

  • February 19, 2016 | By Chris Mann
  • URL Short URL: http://b-ac.es/c6e1c

Bolton Wanderers have settled mortgate and debt balances owed to National Westminster (NatWest) Bank PLC, which were charged against the club's Bolton Whites Hotel.

Mortgate and debenture charges were granted by the bank on May 24, 1999, when the premises was opened under the De Vere Venues umbrella, and were carried forward after Wanderers took sole ownership of the business in August 2013.

After taking the decision to sell car parking land outside the North Stand of Macron Stadium in January, a figure of £5.5million, provided by Prescot Business Park Limited, was used as security against the hotel - ensuring the company would be legally entitled to reclaim the balance in the event Wanderers were placed into liquidation.

Documents, publicly available via the Companies House website, confirm the charges owed to NatWest were cleared on Thursday, as well as a previously documented debenture owed to Nucleus Commercial Finance Limited, made possible by the sale of office premises.

At the time of writing, nine separate charges remain against the club - as follows:

29/01/2016 - Prescot Business Park Limited (Ordinary Shares)
24/12/2014 - William Brett Warburton (F/H of Land - Hall Lane/Lostock Lane)
27/04/2010 - Barclays Bank PLC (Debenture)
27/10/2009 - Moonshift Investments Limited (Deed of Assignment)
27/10/2009 - Moonshift Investments Limited (Legal Charge)
16/02/2006 - Moonshift Investments Limited (Legal Charge)
22/09/2003 - Moonshift Investments Limited (Amendment to a Debenture)
08/11/2002 - Moonshift Investments Limited (Debenture)
09/07/2001 - Moonshift Investments Limited (Legal Charge)

With Eddie Davies vowing to wipe the value of debts owed to his parent company - Moonshift Investments Limited - upon the conclusion of a sale, Bolton are left facing the prospect of clearing the balance of a loan owed to Barclays Bank PLC before ultimately becoming debt free.

Football betting site Betway

Sky Bet League Two Standings

Pos Team Pld Pts
17 Tranmere Rovers 1 1
18 Cheltenham Town 1 0
19 Bolton Wanderers 1 0
20 Grimsby Town 1 0
21 Oldham Athletic 1 0
View Full Standings >>

Poll

Who is Bolton's 2018/19 Player of the Year?
34.62% Gary O'Neil
19.38% David Wheater
18.92% Pawel Olkowski
9.27% Joe Williams
5.33% Jason Lowe
4.13% Sammy Ameobi
2.85% Josh Magennis
2.75% Mark Beevers
1.19% Jack Hobbs
1.01% Ben Alnwick
0.28% Andrew Taylor
0.28% Craig Noone