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Documents filed at Companies House

Discussion in 'Hull City' started by petersaxton, Mar 28, 2017.

  1. Arnold_Lane_HCFC_

    Arnold_Lane_HCFC_ Well-Known Member

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    Cheers, penny dropped now.
    And i suppose on that basis who knows how many shares they 'gave' to the bank?

    The bastards.
     
    #41
  2. Arnold_Lane_HCFC_

    Arnold_Lane_HCFC_ Well-Known Member

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    I thought one of the documents showed that transfer fees and Prem money still went to the Allams (or whatever company), and that the Aussies just had Cott and County Road?
     
    #42
  3. petersaxton

    petersaxton Well-Known Member

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    this is the whole argument about not knowing what somebody is worth. you can add up the value of their assets (subject to correct valuation) but you dont have a clue about their liabilities
     
    #43
  4. petersaxton

    petersaxton Well-Known Member

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    that's just not possible
     
    #44
  5. originallambrettaman

    originallambrettaman Mod Moderator
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    The bank has the right to take the Premier League money directly.
     
    #45
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  6. Arnold_Lane_HCFC_

    Arnold_Lane_HCFC_ Well-Known Member

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    Heavy sense of irony. It could be argued that the Allams ARE the liability and I don't have to be an accountant to work that out. <party>:emoticon-0164-cash:<badger>:eek::oops:<cracker>
     
    #46
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  7. petersaxton

    petersaxton Well-Known Member

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    surely the Premier League would only pay the money to the club and then the money could get paid out as agreed
     
    #47
  8. originallambrettaman

    originallambrettaman Mod Moderator
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    If that was the case, the Premier League wouldn't need to be involved in the deal, but they were, they issued a letter confirming the claim the bank had a claim on the money.
     
    #48
  9. petersaxton

    petersaxton Well-Known Member

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    I assume Hull City would have asked for the money to be paid to a third party.
     
    #49
  10. Arnold_Lane_HCFC_

    Arnold_Lane_HCFC_ Well-Known Member

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    C'mon Pete, even I can work that out :1980_boogie_down:. The debenture is what the Allams had over all of Citys assets. But they released Prem money and transfer fees due, which I presume that is what OLM mentioned above to me. One of those documents is actually from the Premier League apparently agreeing to the money being assigned to the Aussies, for 2016/2017 and 2017/2018 seasons. So presumably it's all above board so to speak
     
    #50

  11. petersaxton

    petersaxton Well-Known Member

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    it is if there's an agreement
    I just think it's a slippery slope if a company's business transactions are made outside the club bank accounts
    it's a mess designed to happen
     
    #51
  12. Arnold_Lane_HCFC_

    Arnold_Lane_HCFC_ Well-Known Member

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    never really been interested in this sort of stuff. surprising whats out there, just been reading about Tempest Diesels an Ruscador .....
     
    #52
  13. Obadiah

    Obadiah Well-Known Member

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    Hull City Tigers Limited didn't have enough income to pay for our promotion so they borrowed £23.4 million from the bank.

    Allamhouse had a debenture on Hull City Tigers Ltd's assets which had to be amended to allow the bank to be paid first if they called on the security.

    The Premier League had to give permission for the bank to have a first charge on the TV monies. This they did and the debenture was then filed at Companies House giving the bank first dibs on the freehold land and the Premier League money.

    The financial losses incurred to obtain promotion breached the fair play rules. Allamhouse had to buy more shares to avoid a fine. This they did to the tune of nearly £4 million. The bulk of this has now been returned to Allamhouse with the reduction in capital.

    Little has changed financially since the last accounts other than the Allams have got the bulk of their money back from the investment required to avoid the fair play fine.
     
    #53
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  14. Arnold_Lane_HCFC_

    Arnold_Lane_HCFC_ Well-Known Member

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    In a nutshell - thanks Obi.

    There's loads of other questions that I've got, probably need to go to college to learn accounts to get the answers.

    Last thing from me on this, which needs no explaining - Average attendance 2014 24,112 / 2015 23,557 / 2016 14,676. To any layman, less paying customers is a recipe for disaster.

    The twats.
     
    #54
  15. petersaxton

    petersaxton Well-Known Member

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    the premier league money increases easily make up any shortfall
     
    #55
  16. Arnold_Lane_HCFC_

    Arnold_Lane_HCFC_ Well-Known Member

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    But it doesn't last forever. Meanwhile the attendances keep declining ........
     
    #56
  17. Chazz Rheinhold

    Chazz Rheinhold Well-Known Member

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    If you want to look at our history it's something that happens over and over again. The Allams are partly to blame the paying hull public just don't stick around for a long time. They get bored and stop going.
     
    #57
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  18. dennisboothstash

    dennisboothstash Well-Known Member

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    This is fascinating

    Which bit shows that concessions are coming back ?!
     
    #58
  19. Arnold_Lane_HCFC_

    Arnold_Lane_HCFC_ Well-Known Member

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    Look closely.
    P27, sub section D1.
    Maybe ..
     
    #59
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  20. petersaxton

    petersaxton Well-Known Member

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