FPP to take full control
- Thread starter Whiteleas Wanderer
- Start date
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Those two investors on STID could be Bob’s mates or just two random jobbing actors from Eastbourne Repertory Company.
No mate, there wasn't even a meeting.
His claim that Donald paid the Americans back seems to be a load of nonsense.
ThisAssuming the club learned the lessons about premature blabbing it wouldn't surprise me if this is just Methven throwing corn down.
There's no way this statement could possibly aid negotiations so why oh why would he do it?
By this point I doubt it's an attempt to curry favour and, in any case, no one believes a word of it.
For so-called professional people these two could not have made a bigger mess of talks from day one.
From the 'Dell announcement to the fanzines' through to this latest effort it's been pretty shoddy.
Only Newcastle and Ashley have come close to this shambolic state of affairs.
Whatever happened to NDA's and integrity ffs
Nothing has happened
Why talk about something before it happens as you are damaging the chances of it getting of the ground.
Wish they'd learned by now
A toast to the owners, or Smug is getting a bit of crumpet. Not sure what he's waffling on about but I'm just a doughnut.
Charge still there, so he either was mislead or is misleading
https://beta.companieshouse.gov.uk/company/11341675/charges
Charge still there, so he either was mislead or is misleading
https://beta.companieshouse.gov.uk/company/11341675/charges
I just don't get it.
Calling people dummies for doubting the loan was paid back ages ago when he must know it's easily checked ...
... or perhaps he doesn't.
The situation is that the people 'loaning' the money have deliberately put themselves in the position that they could easily become the owners by default.
Why on earth would they do that just to loan millions at a very low interest rate ....
... even if it's repaid the exchange rate could mean they could lose out, unless its ER linked.
The loan might have been repaid.
The charge registered at companies house only becomes relevant if the loan is not repaid.
Once it has been repaid the charge can be removed from the companies house register. I don't think it's automatic though.
The charge will not be removed from companies house records until somebody submits the relevant form.
Having said that, the loan probably hasn't been repaid, but I don't think the fact that the charge is still there is definite proof.
The charge registered at companies house only becomes relevant if the loan is not repaid.
Once it has been repaid the charge can be removed from the companies house register. I don't think it's automatic though.
The charge will not be removed from companies house records until somebody submits the relevant form.
Having said that, the loan probably hasn't been repaid, but I don't think the fact that the charge is still there is definite proof.
I don't think the charge still outstanding really means anything regarding a potential sale.
But Bob claiming the debt had been paid off made no sense at all.
Most sales of businesses would just incorporate the debt into the sale
Either sell with the debt at a higher price and settle the debts in the process
or sell for a lower price and pass responsibility to the buyer.
Haven't read the charge doc mind so depends whats in that and I'm no real expert and stand to be corrected
but the thought of SD forking out to pay off the debt first then selling the club makes no sense to me.
All we do know for certain is that FPP still have skin in the game and SD needs their authority to sell
Until any new buyers make themselves known. Nothing much has changed.
But Bob claiming the debt had been paid off made no sense at all.
Most sales of businesses would just incorporate the debt into the sale
Either sell with the debt at a higher price and settle the debts in the process
or sell for a lower price and pass responsibility to the buyer.
Haven't read the charge doc mind so depends whats in that and I'm no real expert and stand to be corrected
but the thought of SD forking out to pay off the debt first then selling the club makes no sense to me.
All we do know for certain is that FPP still have skin in the game and SD needs their authority to sell
Until any new buyers make themselves known. Nothing much has changed.
So I believe. I haven't read the charge doc but sure someone on here could confirm
Bored so had a read of the charge doc.Cheers mate arguing with a mate and I need proof
Probably old ground but to settle your argument.
They have a "Negative Pledge Charge" in the loan which basically says SD can't sell anything that the loan is secured against
(which is to all intents and purposes the club) without FPP agreeing.
Not an expert but think this is a fairly standard clause.
Doesn't mean that FPP wont be happy to give permission mind as long as the any buyers can pay back the loan
It’s not automatic m8, it’s up to madrox to actually remove it. My points would be, they were quick enough to register it and, the accountants who arranged the repayment surely will have the wit and professionalism to fill in all relevant paperwork, although having watched stid2 perhaps not.
They can’t sell the assets, that’s why there’s a charge on them, the assets being the academy and sol principally.