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Straumur keeping schtum

Filed: Tuesday, 8th December 2009
By: Staff Writer

There was no fresh news regarding West Ham's ownership situation in this morning's Straumur creditor meeting.

Despite plenty of interest from anxious Irons followers who deluged the meeting's live webcast with questions regarding the club's future, the hosts refused to be drawn on rumours regarding possible takeover bids.

A spokesman said: "We're receiving a lot of questions from the internet regarding our assets. This meeting is not really intended to give answers on those kind of questions so we will simply not take them.

"We do not discuss our individual assets in public. This is primarily because of two things: one, legal restrictions in relation to our banking assets and secondly, for commercial sensitivities.

"Having said that, it should be noted to the general creditor community that we have made our ICC* privy to further information on individual assets to some extent.

"We have given a seperate presentation on those assets that we felt reasonably comfortable in discussing in a small group given those restrictions that I mentioned before."

Straumur's Q&A session besieged by West Ham fans

Straumur's only recent comment regarding West Ham United comes in a seperate statement on their website which reaffirms their initial plan to wait until market conditions improve before consdering a sale.

"Straumur´s strategy is to maximize the value and realisation of owned subsidiaries and other assets," it states. "Straumur has not, and does not intend to, enter into any unnecessary quick 'fire sale' of subsidiaries or assets.

"Straumur intends to develop and pursue a considered strategy for maximising the realisation of assets. Straumur does not consider that selling assets in the current market environment to be generally consistent with maximising the realisable value of the assets it owns."

* Members of the ICC, aka the Informal Creditors Committee are comprised of a broad cross-section of Straumur's global creditor base.

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by flappers
07:11PM 11th Dec 2009
''So did they get their nine month extension on the moratorium or didn't they? If so, why can't they just announce just that much at least? Talk about giving a politician's answer that says a lot with words but says eff all.''

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