Well I just get abuse but £1.9million has been put in personally by David Gorton in the last 2 years. If he walks away there will be no skiing ever again on Cairngorm. Because no-one else would be prepared to do that. If the neanderthals know of anyone else they should let HIE know or shut up.
Extensive coverage of CML and NR financials here:
NR Chief David Gorton is not only propping up Cairngorm, but the rest of the NR group to the tune of £35M.
Any other company or community asset owners would have been totally wiped out by now, so perhaps all this NR bashing is not altogether warranted? Their day-to-day ops and communications are poor, but as JollyDee says without them (i.e the great David Gorton as his cash) there would be yet another failed operator with fook loads of public cash squirted on Cairngorm...again.
Neither of you have fully read my previous posts on this subject..infact "JollyDee" still hasn't answered my question/points I previously raised..
David Gorton has NOT personally funded CGML which is wholly owned by Natural Assets Investments Ltd...(NAIL)
NAIL took out a standing charge (loan with HSBC) in November 2014...over the whole of the assets etc of NAIL...
From the NAIL accounts ending December 2017:-
NAIL paid D.Gorton £3.6million...this is just declared as "interest" on a loan
NAIL has various long term loans with D.Gorton totalling £51million...these are subject to interest of 0-10% & repayable within 12 months notice if required.
NAIL has pledged land & buildings & investment properties having a net book value of £23.9million to secure its bank loan..(presumably the HSBC one)
Numerous other companies he is involved in having various loans/interest repaid to them by NAIL.
Unfortunately due to the way NAIL submit their accounts allot of info is not available..
The pages 32 to 44 of the accounts are most detailed as to creditors...& go look at the pages 40 to 44 on "related Party transactions....shed loads of "loans" etc whizzing around between subsidiary groups....
That's how you make earnings from one company "disappear" legally into your back pocket....oldest trick in the book...for a Hedge Fund Manager...
From December 2017 CGML accounts:-
It "received management services amounting to £491K & fixed assets & other services amounting to £140K..from "The UK Great Travel Company Ltd"...a subsidiary of NAIL....
Also CGML had £1.89million owing to NAIL for "group undertakings".....
"The UK Great Travel Company Ltd"...was "Natural Retreats UK Ltd"..
& in TUKGTCL" companies accounts it owes money to virtually every subsidiary in NAIL....
Its the great big "money--go--round".....watch out folks as it will disappear so fast down the hole in the middle you won't see it....
---That was not a fall, I intended to do that!---
Edited 3 times. Last edit at 21.04hrs Sun 28 Oct 18 by SnowmanDave.