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The K's plight

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The situation is, as I understand it...


A group involving former executive Chris Kelly have successfully scuppered the attempts by the new owners, the Khosla brothers, to pay off the creditors by the usual means of a CVA (Creditors Voluntary Agreement) thus rendering the K's (i.e. the Khoslas) liable to pay off the creditors in full, in cash, by the end of February 2003. If they don't the K's as a company will by wound-up and almost certainly expelled from the Ryman League. The amount the Khosla's will have to find is rumoured to be about £100K.


Correct me if I'm wrong...

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