Reply To: Is there evidence that Swann doesn’t actually want to sell the ground?

[Jasper Parrot]

SST wrote:

With regards to the ACV, did Swann have an obligation to notify the council if it was a transfer of a going concern between group companies? This suggests not: https://www.holmes-hills.co.uk/news/2022/march/assets-of-community-value-beware-the-pitfalls/

I am fairly sure he did, but not 100%. IANAL.

If the club and land had been sold together, I can see it being a Transfer of a Going Concern. They weren’t. The transactions for sale of the club and sale of the ground have been separated out. The club was sold for a nominal figure (£1) with Hilton acquiring the debts. That means this probably isn’t a Transfer of a Going Concern, because the Going Concern has already been transferred.

This is now a simple sale of an asset, subject to the ACV protections.