HarryBosch Posted July 31, 2019 Share Posted July 31, 2019 1 hour ago, Ryan said: It is OAFC’s liability which Lemmy took on when he purchased the limited company. The charge was on the accounts long before Abdallah got involved so to try and claim Corney hid it from him is ridiculous, all of the fans were aware of it. It's a fair point.... Link to comment Share on other sites More sharing options...
Inspiral_Carpet Posted July 31, 2019 Share Posted July 31, 2019 1 hour ago, Dave_Og said: It's not my area but I think it can just be registered to give preferential creditor status rather than against specific assets It’s a long time since I used to teach Law Relating to Banking (living the dream eh?) but IIRC, a floating charge (mortgage debenture) will be crystallised and secured against all assets of the Company if the debt is called in. The debenture will also give other rights such as being able to appoint your own named insolvency practitioner effectively meaning they will work to protect your interests rather than anybody else’s. Link to comment Share on other sites More sharing options...
Dave_Og Posted July 31, 2019 Share Posted July 31, 2019 2 minutes ago, Inspiral_Carpet said: It’s a long time since I used to teach Law Relating to Banking (living the dream eh?) but IIRC, a floating charge (mortgage debenture) will be crystallised and secured against all assets of the Company if the debt is called in. The debenture will also give other rights such as being able to appoint your own named insolvency practitioner effectively meaning they will work to protect your interests rather than anybody else’s. Attending Law Relating to Banking evening classes was what made me leave banking! Link to comment Share on other sites More sharing options...
boundaryblue80 Posted July 31, 2019 Share Posted July 31, 2019 3 hours ago, Ryan said: It is OAFC’s liability which Lemmy took on when he purchased the limited company. The charge was on the accounts long before Abdallah got involved so to try and claim Corney hid it from him is ridiculous, all of the fans were aware of it. It would be if I ever claimed he hid it from him. I said he hid debts (LED boards etc) and that Corney never fulfilled his obligation to settle the Necarcu debt. Hence he said he intends to sue him. I hope he does. If he doesn’t, more fool him. Link to comment Share on other sites More sharing options...
boundaryblue80 Posted July 31, 2019 Share Posted July 31, 2019 3 hours ago, League one forever said: Spot on. According to BB80 though he stopped interfering after Scholes left. No. According to Pete Wild. 8mins 15secs https://www.bbc.co.uk/sounds/play/p078r2pb Link to comment Share on other sites More sharing options...
Inspiral_Carpet Posted July 31, 2019 Share Posted July 31, 2019 8 minutes ago, Dave_Og said: Attending Law Relating to Banking evening classes was what made me leave banking! You quit too soon Dave. Practise of Banking II was where things really got exciting Link to comment Share on other sites More sharing options...
Dave_Og Posted July 31, 2019 Share Posted July 31, 2019 Just now, Inspiral_Carpet said: You quit too soon Dave. Practise of Banking II was where things really got exciting I'll regret that all the way to my deathbed Link to comment Share on other sites More sharing options...
League one forever Posted July 31, 2019 Share Posted July 31, 2019 12 minutes ago, boundaryblue80 said: No. According to Pete Wild. 8mins 15secs https://www.bbc.co.uk/sounds/play/p078r2pb Whose made Coke and O’Grady train with the youths? Link to comment Share on other sites More sharing options...
kowenicki Posted July 31, 2019 Share Posted July 31, 2019 2 hours ago, Dave_Og said: It's not my area but I think it can just be registered to give preferential creditor status rather than against specific assets Possibly, but I thought football creditors always took preference... even over HMRC. Risky for the lender (hence horrific rates no doubt). Link to comment Share on other sites More sharing options...
Dave_Og Posted July 31, 2019 Share Posted July 31, 2019 1 minute ago, kowenicki said: Possibly, but I thought football creditors always took preference... even over HMRC. Risky for the lender (hence horrific rates no doubt). Only if they carry on playing football. And lord knows how they even get away with that. Link to comment Share on other sites More sharing options...
kowenicki Posted July 31, 2019 Share Posted July 31, 2019 33 minutes ago, Dave_Og said: Attending Law Relating to Banking evening classes was what made me leave banking! What year? Oldham College? Link to comment Share on other sites More sharing options...
Dave_Og Posted July 31, 2019 Share Posted July 31, 2019 Just now, kowenicki said: What year? Oldham College? No, City of London Business School a long, long time ago. Link to comment Share on other sites More sharing options...
kowenicki Posted July 31, 2019 Share Posted July 31, 2019 4 minutes ago, Dave_Og said: No, City of London Business School a long, long time ago. Likewise as in long time ago... bloody hated those banking exams! Link to comment Share on other sites More sharing options...
Ryan Posted August 1, 2019 Share Posted August 1, 2019 7 hours ago, boundaryblue80 said: It would be if I ever claimed he hid it from him. I said he hid debts (LED boards etc) and that Corney never fulfilled his obligation to settle the Necarcu debt. Hence he said he intends to sue him. I hope he does. If he doesn’t, more fool him. Apologies, misread your original post. Still though, it became Abdallah’s obligation once he purchased SC’s shares. Link to comment Share on other sites More sharing options...
tGWB Posted August 1, 2019 Share Posted August 1, 2019 10 hours ago, boundaryblue80 said: It would be if I ever claimed he hid it from him. I said he hid debts (LED boards etc) and that Corney never fulfilled his obligation to settle the Necarcu debt. Hence he said he intends to sue him. I hope he does. If he doesn’t, more fool him. Surely if there was an 'agreement' that Corney would pay the Necacru charge, that AL would simply deduct that amount off the price he had agreed with Corney for the 97% shares in the club. Who wouldn't do that ! Link to comment Share on other sites More sharing options...
lookersstandandy Posted August 1, 2019 Share Posted August 1, 2019 22 minutes ago, tGWB said: Surely if there was an 'agreement' that Corney would pay the Necacru charge, that AL would simply deduct that amount off the price he had agreed with Corney for the 97% shares in the club. Who wouldn't do that ! I don’t think he paid very much for those shares..... Link to comment Share on other sites More sharing options...
deyres42 Posted August 1, 2019 Share Posted August 1, 2019 That the one that Simon Brooke said would disappear at some stage? Link to comment Share on other sites More sharing options...
tGWB Posted August 1, 2019 Share Posted August 1, 2019 27 minutes ago, lookersstandandy said: I don’t think he paid very much for those shares..... Its all he bought isn't it ? Link to comment Share on other sites More sharing options...
lookersstandandy Posted August 1, 2019 Share Posted August 1, 2019 Just now, tGWB said: Its all he bought isn't it ? It is.... but the selling party was more interested in remaining on the board and being able to continue dipping his hand in the till than realising/maximising a sale value for an entity that was largely worthless....! I don’t think very much money changed hands at all.... Link to comment Share on other sites More sharing options...
b0ndl1ne Posted August 1, 2019 Share Posted August 1, 2019 https://www.chesterfield-fc.co.uk/news/20192/july/20190731-club-statement/ Chesterfield's owner has written off £2m and is still out to the tune of 9m. Why the hell would anyone want to be the owner of a football club. Link to comment Share on other sites More sharing options...
tGWB Posted August 1, 2019 Share Posted August 1, 2019 17 minutes ago, lookersstandandy said: It is.... but the selling party was more interested in remaining on the board and being able to continue dipping his hand in the till than realising/maximising a sale value for an entity that was largely worthless....! I don’t think very much money changed hands at all.... Not sure about that, particularly considering the c£5m debt 'write off / payment' in the recently published accounts Link to comment Share on other sites More sharing options...
WLYOWD Posted August 1, 2019 Share Posted August 1, 2019 (edited) 1 hour ago, b0ndl1ne said: https://www.chesterfield-fc.co.uk/news/20192/july/20190731-club-statement/ Chesterfield's owner has written off £2m and is still out to the tune of 9m. Why the hell would anyone want to be the owner of a football club. Looking at their owners name seems you need to be a comedian or a right seems like a stand up guy though Edited August 1, 2019 by WLYOWD 1 Link to comment Share on other sites More sharing options...
super_blue Posted August 1, 2019 Share Posted August 1, 2019 Announcement expected by the end of the week on the north stand...i’m led to believe it’s not good news for north stand users. Link to comment Share on other sites More sharing options...
mick26 Posted August 1, 2019 Share Posted August 1, 2019 Just now, super_blue said: Announcement expected by the end of the week on the north stand...i’m led to believe it’s not good news for north stand users. I'll be asking for a refund if that's the case. 1 Link to comment Share on other sites More sharing options...
adamoafc Posted August 1, 2019 Share Posted August 1, 2019 Just now, mick26 said: I'll be asking for a refund if that's the case. Agreed 1 Link to comment Share on other sites More sharing options...
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