BIDCOBusiness and Industrial Development Corporation
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Cleaning the site for sale would increase its value although the joint administrators said it was unlikely the debts to BIDCO could be repaid in full.
Under the agreement, Simest will introduce BIDCO to potential Italian developers, investors and companies who are looking for distributors, agents or local partners in Bahrain or the GCC.
Both will be run by Rocco Perate, founding principal and President & CEO of Preferred Capital BIDCO, Inc.
For this reason, BIDCO is unable to enter into public discussion regarding details of the rescue package or future plans for the club.
It is intended that BIDCO will sign a legally binding agreement with the Foundation on behalf of the fans, to transfer majority ownership of the club on satisfaction of their contracted commitments, at the earliest opportunity, but certainly within a period not to exceed five years
And Ian Murray, FoH chairman and MP for Edinburgh South, has confessed the exact make-up of the club's future organisation will now have to be negotiated as they look forward to getting their hands on the club - first via the private finance of the proposed BIDCO organisation before their FANCO structure takes over.
Michigan BIDCO invested over $16,000,000 in Michigan businesses, resulting in a total of over $275,000,000 in investment in Michigan, including the largest greenfield manufacturing facility built in North America in 1995, a recycled paper pulp mill which is the largest employer in Menominee, Michigan, and returning to operation Great Lakes Tissue, a recycled tissue paper mill that is today the largest employer in Cheboygan, Michigan.
The Foundation-backed bid sees Edinburgh business provide the up-front capital, through BIDCO, and then enter a binding contract with FANCO to sell the club, at no personal gain, in a controlled manner.
University Bancorp also founded and is a part-owner of Michigan BIDCO.
Midwest Servicing Rights Valuation $224,175 (Bank) Foreclosed Real Estate Valuation $ 66,829 (Bank) Non-cash Stock Compensation $ 31,200 (Bank) BIDCO loss $114,551 (Bancorp)
With its corporate office located in Westwood, MA, BIDCO offers physician groups and hospitals the structure to contract, share risk, and build care management systems together, with the goal of providing the highest quality care in the most cost-efficient way.
But the offer of a loan from the group of businessmen, who have formed a company called BIDCO, gives the Foundation the cash injection it needs to push forward with their CVA attempt.