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Trust Shares: The Ugly Truth


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Careful. You could be landing yourself in deep water legally with that statement.

 

I don't see how. Barry did give a strong if illiterate victim statement prior to sentencing in that trial. And there is a case for saying that the bucket shake money is gone. I don't think Frankly is alleging fraud, just really poor management.

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I don't see how. Barry did give a strong if illiterate victim statement prior to sentencing in that trial. And there is a case for saying that the bucket shake money is gone. I don't think Frankly is alleging fraud, just really poor management.

 

 

Even if he was alleging fraud, which he isn't to be fair, I can't see Blatter managing to do anything about it. The uselss fecker can't even file accounts.

 

 

Seven years?! SEVEN.

 

 

Due diligence my hole.

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Forgive me but I thought this had been discussed on another thread previously, during Evans Week, although I've just tried to find it without success. I also thought it had been addressed. Has something else come to light or am I mistaken?

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Just got in from battling the snow, and not had chance to go through the whole thread - as underdog said legal advisers (the same that have seen the whole process through I believe) have clarified the shares do belong to the trust.

 

Apologies for the quick post but I believe they'll be full clarification soon as.

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Forgive me but I thought this had been discussed on another thread previously, during Evans Week, although I've just tried to find it without success. I also thought it had been addressed. Has something else come to light or am I mistaken?

 

The detail and certainty is new. Plus I originally thought the shareholding went to the Queen. It doesn't. It belongs to an unincorporated group consisting of :censored:-knows-who.

 

The trust can look to make a fresh start. The interim chair can get start to make a stab at transferring the shares to the new company. In the meantime, anyone interested in making sure the trust is well run in future knows that the bar has been set nice and low by the previous chair. I favour a clean slate and getting involved with Supporters Direct.

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You know, the twin towers were brought down by bombs.

Just got in from battling the snow, and not had chance to go through the whole thread - as underdog said legal advisers (the same that have seen the whole process through I believe) have clarified the shares do belong to the trust.

Apologies for the quick post but I believe they'll be full clarification soon as.

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Quite simply I would regard anyone who was on the board of the Trust at the time it was wound up as failing the fit and proper person test to lead the trust. Anyone who was on the board for those 7 years they failed to file accounts should be in the same boat. Does this mean they were members of the board of a company that was declared bankrupt from a legal standpoint?

 

This is an appalling piece of mismanagement and yet some of those heavily connected with the trust at the time are the majority of 7 or 8 possibilities to lead the trust now that the Copper has finally stepped down, because of the appalling constitution, which has the finger marks of the same people all over it.

 

When's the next trust meeting, because as a ST holder, so a member I'm calling for all those involved who are still on the board to step down.

 

FWIW I would suggest the mods have a conversation as to who takes over the OWTB PayPal account as I can't knowingly give money to the person who is currently named because he is one of the above members of the Trust board, even if he never sees it.

 

I'm not sure the Copper would fit the FA's definition of a fit and proper person to be involved in their organisation either, which apparently he is.

 

I'm not suggesting it was malicious BTW just absolute gross incompetence with my money, and the money of every Oldham fan (and even non-Oldham fans) who put money in the buckets.

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You know, the twin towers were brought down by bombs.

Just got in from battling the snow, and not had chance to go through the whole thread - as underdog said legal advisers (the same that have seen the whole process through I believe) have clarified the shares do belong to the trust.

Apologies for the quick post but I believe they'll be full clarification soon as.

 

 

I back mine and Leeslover's guy all the way at the moment. I'm willing to say if I'm wrong - absolutely willing. Hopefully you're right and this is step one on the road to rehabilitation.

 

There's enough in that trust history to be deeply unhappy about. Seven years. Name changes. Dropping the shares (whether or not they're recoverable at a later point). Lack of accountability at the top. Lack of transparency with the punters. It's a tale of how not to run a supporters trust.

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Does this mean they were members of the board of a company that was declared bankrupt from a legal standpoint?

 

 

I'm not suggesting it was malicious BTW just absolute gross incompetence with my money, and the money of every Oldham fan (and even non-Oldham fans) who put money in the buckets.

 

No, bankruptcy is quite different.

 

The money (other than trust membership subs) is irrelevant. Long gone and not in an inappropriate way (assuming that you agree that the purchase of shares in exchange for a seat on the board was appropriate)

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No, bankruptcy is quite different.

 

The money (other than trust membership subs) is irrelevant. Long gone and not in an inappropriate way (assuming that you agree that the purchase of shares in exchange for a seat on the board was appropriate)

True to a point. We can't say whether the remaining £47k plus whatever was raised over that time was correctly disposed of(indeed, we certainly know that some of it was definitely not).
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No, bankruptcy is quite different.

 

The money (other than trust membership subs) is irrelevant. Long gone and not in an inappropriate way (assuming that you agree that the purchase of shares in exchange for a seat on the board was appropriate)

Not at the time but I do now. If used properly it would have been a worthwhile investment. It wasn't used properly, and my overall view of that hasn't changed for years, all this rigmarole has done is strengthen my belief that it was a waste of money.
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True to a point. We can't say whether the remaining £47k plus whatever was raised over that time was correctly disposed of(indeed, we certainly know that some of it was definitely not).

 

Do we? I recall it being spent on things like groundkeeping equipment and a youth tea bus. Hard to see those as inappropriate

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I back mine and Leeslover's guy all the way at the moment. I'm willing to say if I'm wrong - absolutely willing. Hopefully you're right and this is step one on the road to rehabilitation.

 

There's enough in that trust history to be deeply unhappy about. Seven years. Name changes. Dropping the shares (whether or not they're recoverable at a later point). Lack of accountability at the top. Lack of transparency with the punters. It's a tale of how not to run a supporters trust.

So the Trust confirm they own the shares and that's not good enough? Issues with the chairman aside.

 

Didn't their finance guy get jailed last year? Sounds like he is responsible for unfiled accounts?

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Do we? I recall it being spent on things like groundkeeping equipment and a youth tea bus. Hard to see those as inappropriate

They did. But there's certainly a point that if the Trust didn't file accounts for seven years we don't know where other amounts went, including other income e.g. membership fees after the initial cash injection.

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Do we? I recall it being spent on things like groundkeeping equipment and a youth tea bus. Hard to see those as inappropriate

Unless you think that the Landlords should have spent their money on those items

Edited by rudemedic
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Dear all

 

The trust oldham committee,those long serving members either do not frequent this board or rarely use it. I'm sure they would have given you all clarity right away if they did. However you do have myself, Chris and lookers who have volunteered to try and capture your views and give you answers right away. A bit like a bridge, or a ladder to cross the divide. So we ask for a little patience and time so we can get the right answers for you.

 

The latest committee notes have not been published yet and although I have slept since, I am sure it was recorded that the yearly fiancés have been submitted or about to be submitted to the accountant for auditing. I don't know or why the last 7yrs hasn't been recorded anywhere too. I will try and get an answer before the next trust oldham meeting in feb as I feel it's important to clarify.

 

All I know is since Jan'14 the trust changed to Trust Oldham Ltd by guarentee. Diego kindly posted the information on another thread that I have copied over, see below, but it seems different to the first post from 24.

 

NOTE: The 'Trust' was re-formed or at least re-constituted on 24th January 2014 as a Limited Company (by guarantee) as per information at Companies House.

That Company is Oldham Athletic Supporters Foundation Limited.

Company number 8860767

 

What I do know is that there will be an announcement soon with regards to fans trust Q&A session, where I have already logged questions/suggestions from previous threads. We are looking at constitution reform, how often/termly committee members can be on committee as well as in the chair itself, the up coming AGM, how we recruit new committee members, what skills/roles we need help with too. I know there was an APB put put last year for fans help.

 

It's your trust, if you can spare the time to volunteer/have questions than please come down and see us once we have set the date, time and location. There are some on the committee that are a bit more clued up on techno stuff than me, so if you can't attend look out for tweet the trust on the night Etc

 

Thanks everyone

Edited by underdog
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