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Horlicks

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    Macclesfield (h)

    in The opinions4u Terraces - Latics Forum

    Posted

    1 minute ago, kowenicki said:

     

    Its a work in progress.  Christ this forum has some miserable gits. 

     

    Bit like the bloke that called in to radion bolton first with his ‘review’ of the game. “I didn’t go and I didn’t listen to much, but it sounded like we were lucky to say the least”.  ?

    But a team with a 37 year old Danny Whittaker in their midfield is the finished article? 

    Statement by Chairman

    in The opinions4u Terraces - Latics Forum

    Posted

    11 hours ago, Worcester Owl said:

    Point 4 is very naive. Firstly, AL has to incur considerable legal fees and time in going after Corney. Secondly, you assume that recovery of said debts would be achievable, i.e. Corney would have the assets to pay up.

    Get a grip.

     

    According to my friend who works in mergers and acquisitions for BDO UK LLP it would be quite easy to go after Corney if he had hidden anything, his finances are a different issue, although I wasn't aware he was bankrupt unlike many on here.

    Statement by Chairman

    in The opinions4u Terraces - Latics Forum

    Posted

    Nice bit of spin from AL which seems to have placated a lot of the fans but he must have been aware of the creditors if not it is gross incompetence.

    1. You agree a price for the “business” - say £1m for Latics
    2. You work out what the usual level of your ‘current’ assets and debts based on say the average of the last 12 months. This would include all creditors, HMRC debts for things like VAT, PAYE, National insurance etc.
    3. If at the point of the sale the debts are higher than normal, you adjust the sale price by that amount... so if there’s an extra £500,000 of HMRC debts the sale price would reduce by £500,000. It’s to avoid exactly this type of problem.
    4. If there were genuinely debts (HMRC or otherwise) that Corney has hidden from AL, he would have legal recourse under the sale agreement to get that money back from Corney. It would be extremely clear and simple that that is the case.
    5. If the above hasn’t been done in this case, then it would lead me to believe the debts were genuine and AL is commercially very poor.

     

    This is before you look at issues like signing foreign players on financially crippling salaries, suspending the only player who can tackle for the last two games of the season etc

    Bradford

    in The opinions4u Terraces - Latics Forum

    Posted

    Team for tomorrow

     

                                Placide 

     

    Trialist      Trialist    Trialist      Moimbe

     

       Trialist       Trialist    Trialist   Nepomuceno 

     

                          Trialist   Trialist

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