Clifford Posted October 14, 2019 Share Posted October 14, 2019 So the debt is gone and we know someone other than AL has 'A' shares and are gladly looking to cash in. As I have said previously the only way to rid AL is to cut the funding. Working already. Can't pay the debt, loses shares. Stay away from home games people. Link to comment Share on other sites More sharing options...
HarryBosch Posted October 14, 2019 Share Posted October 14, 2019 Just now, Clifford said: So the debt is gone and we know someone other than AL has 'A' shares and are gladly looking to cash in. As I have said previously the only way to rid AL is to cut the funding. Working already. Can't pay the debt, loses shares. Stay away from home games people. If the club makes, or continues to make, a loss the new shareholders would then be liable for their "in excess of 10%" of any such loss wouldn't they? Although they might be able to steer AL in the direction of making less of a loss through not making so many self harming decisions......? Link to comment Share on other sites More sharing options...
whittles left foot Posted October 14, 2019 Share Posted October 14, 2019 6 minutes ago, Clifford said: So the debt is gone and we know someone other than AL has 'A' shares and are gladly looking to cash in. As I have said previously the only way to rid AL is to cut the funding. Working already. Can't pay the debt, loses shares. Stay away from home games people. How is it working already? Nobody knows where these alleged shares have come from or what they actually are. Your post contradicts itself by Al supposedly losing shares but somebody else cashing shares in. As for your final comment-words fail me. Link to comment Share on other sites More sharing options...
Dave_Og Posted October 14, 2019 Share Posted October 14, 2019 16 minutes ago, HarryBosch said: If the club makes, or continues to make, a loss the new shareholders would then be liable for their "in excess of 10%" of any such loss wouldn't they? No. Buying a share in a limited company doesn't expose you to a contingent liability Link to comment Share on other sites More sharing options...
Inspiral_Carpet Posted October 14, 2019 Share Posted October 14, 2019 43 minutes ago, Dave_Og said: I fear that's an owtb 'fact'. Don't think that was established at all. Maybe @oafcmetty was just being mischievous with the comment a few pages back? He tends to be fairly well connected though normally. It would make a lot of sense to me for Corney to do this. AL seemingly has him by the balls regarding the transfer of assets around the time of the sale and so to become a large creditor of the cash-strapped man who is suing you would be a very good bargaining tool. Pure speculation of course and possibly it is an owtb fact. Link to comment Share on other sites More sharing options...
BP1960 Posted October 14, 2019 Share Posted October 14, 2019 10 minutes ago, Dave_Og said: No. Buying a share in a limited company doesn't expose you to a contingent liability We need you in the boardroom Dave. Link to comment Share on other sites More sharing options...
singe Posted October 14, 2019 Share Posted October 14, 2019 1 hour ago, Inspiral_Carpet said: Those are just standard paragraphs in a mortgage debenture covering what could be captured under the floating charge. In this case, any shares of value owned by the borrower would be treated as security once the debt had been called in. I very much doubt that this would include shares in OAFC. I thought it was established a couple of weeks ago that Corney had paid off the Necarcu loan? That will potentially have given him rights of subrogation against AL which is probably all part of the claim and counterclaim going on between them in the legal proceedings. With ongoing legal proceedings, would those shares be subject to a sale? Link to comment Share on other sites More sharing options...
Dave_Og Posted October 14, 2019 Share Posted October 14, 2019 7 minutes ago, BP1960 said: We need you in the boardroom Dave. God no! Link to comment Share on other sites More sharing options...
Inspiral_Carpet Posted October 14, 2019 Share Posted October 14, 2019 4 minutes ago, singe said: With ongoing legal proceedings, would those shares be subject to a sale? Again, pure speculation but once a mortgage debenture is called in, all assets owned by the borrower can become subject to a secured charge. If that included shares, then it is unlikely that they could be traded. The shares in OAFC will be financially worthless but intrinsic value may not be the point. As for the legal proceedings, I don’t think anyone on here has a clue what those entail. It seems fair to assume though that there has been a lot of creativity with regards to assets and ownership. Link to comment Share on other sites More sharing options...
oafcmetty Posted October 14, 2019 Share Posted October 14, 2019 46 minutes ago, Inspiral_Carpet said: Maybe @oafcmetty was just being mischievous with the comment a few pages back? He tends to be fairly well connected though normally. It would make a lot of sense to me for Corney to do this. AL seemingly has him by the balls regarding the transfer of assets around the time of the sale and so to become a large creditor of the cash-strapped man who is suing you would be a very good bargaining tool. Pure speculation of course and possibly it is an owtb fact. Apparently true. Link to comment Share on other sites More sharing options...
Clifford Posted October 14, 2019 Share Posted October 14, 2019 8 hours ago, whittles left foot said: How is it working already? Nobody knows where these alleged shares have come from or what they actually are. Your post contradicts itself by Al supposedly losing shares but somebody else cashing shares in. As for your final comment-words fail me. He's losing control, slowly, as he can't fund the thing properly. The sooner he is gone the better. FLG will soon own 10%+ and the ground. AL's days are numbered, the debts will continue and he'll lose the lot. The tumor needs removing, this isn't the club or type of club I grew up with, anyone paying into home games is a scab imo. Link to comment Share on other sites More sharing options...
whittles left foot Posted October 14, 2019 Share Posted October 14, 2019 3 minutes ago, Clifford said: He's losing control, slowly, as he can't fund the thing properly. The sooner he is gone the better. FLG will soon own 10%+ and the ground. AL's days are numbered, the debts will continue and he'll lose the lot. The tumor needs removing, this isn't the club or type of club I grew up with, anyone paying into home games is a scab imo. Well I think you have finally showed your true colours on here-let's see how much support you get now. It's post's like this that make me feel ashamed of my club sometimes. Link to comment Share on other sites More sharing options...
kowenicki Posted October 14, 2019 Share Posted October 14, 2019 15 minutes ago, Clifford said: He's losing control, slowly, as he can't fund the thing properly. The sooner he is gone the better. FLG will soon own 10%+ and the ground. AL's days are numbered, the debts will continue and he'll lose the lot. The tumor needs removing, this isn't the club or type of club I grew up with, anyone paying into home games is a scab imo. FFS a scab... ok comrade, whatever you say. Link to comment Share on other sites More sharing options...
rosa Posted October 14, 2019 Share Posted October 14, 2019 I've chosen to not renew my season ticket because I feel like it'd be throwing good money after bad, but can we please pack it in calling those who do go the match scabs, it's really fucking daft. Link to comment Share on other sites More sharing options...
Bristolatic Posted October 14, 2019 Share Posted October 14, 2019 1 hour ago, rosa said: I've chosen to not renew my season ticket because I feel like it'd be throwing good money after bad, but can we please pack it in calling those who do go the match scabs, it's really fucking daft. Several words sprang to mind. Daft wasn't one of them. Link to comment Share on other sites More sharing options...
OAFC1984 Posted October 15, 2019 Share Posted October 15, 2019 9 hours ago, whittles left foot said: Well I think you have finally showed your true colours on here-let's see how much support you get now. It's post's like this that make me feel ashamed of my club sometimes. Finally? Link to comment Share on other sites More sharing options...
OAFC1984 Posted October 15, 2019 Share Posted October 15, 2019 8 hours ago, Bristolatic said: Several words sprang to mind. Daft wasn't one of them. me too, but Ive been banned enough Link to comment Share on other sites More sharing options...
Dave_Og Posted October 15, 2019 Share Posted October 15, 2019 10 hours ago, whittles left foot said: Well I think you have finally showed your true colours on here-let's see how much support you get now. It's post's like this that make me feel ashamed of my club sometimes. I've been ashamed of it for quite some time now. Link to comment Share on other sites More sharing options...
GlossopLatic Posted October 15, 2019 Share Posted October 15, 2019 10 hours ago, Clifford said: He's losing control, slowly, as he can't fund the thing properly. The sooner he is gone the better. FLG will soon own 10%+ and the ground. AL's days are numbered, the debts will continue and he'll lose the lot. The tumor needs removing, this isn't the club or type of club I grew up with, anyone paying into home games is a scab imo. You were doing really well upto the last 9 words Link to comment Share on other sites More sharing options...
tGWB Posted October 15, 2019 Share Posted October 15, 2019 11 hours ago, Clifford said: The tumor needs removing, this isn't the club or type of club I grew up with, anyone paying into home games is a scab imo. Shocking post this fella What happened to the days when most fans watched their local club without the main topic of conversation being about everything other than the owner, the board or a protest group. Fellow supporters should be allowed to attend games, or not, without that sort of rhetoric hanging in the air Link to comment Share on other sites More sharing options...
JohnnyPimp Posted October 15, 2019 Share Posted October 15, 2019 12 hours ago, Clifford said: He's losing control, slowly, as he can't fund the thing properly. The sooner he is gone the better. FLG will soon own 10%+ and the ground. AL's days are numbered, the debts will continue and he'll lose the lot. The tumor needs removing, this isn't the club or type of club I grew up with, anyone paying into home games is a scab imo. Sounds to me as though Cliff has an interest other than just being a disgruntled fan. Link to comment Share on other sites More sharing options...
Clifford Posted October 15, 2019 Share Posted October 15, 2019 2 hours ago, JohnnyPimp said: Sounds to me as though Cliff has an interest other than just being a disgruntled fan. Incorrect. Link to comment Share on other sites More sharing options...
Clifford Posted October 15, 2019 Share Posted October 15, 2019 4 hours ago, Dave_Og said: I've been ashamed of it for quite some time now. Me too. We may be shite on the pitch, Christ we have been for 20 years, but there always some sense of community or warmth with the internal staff and club. Players and managers would regularly mention it. We now are under an owner happy to sack people on a whim and have a side even the most ardent of fan would struggle to recognise on the street. Those sitting back and not trying to rid the club of this owner please do not moan when we end up like Bury. We all knew the script at Bury but their fans only took action when it was too late. Unlike a loan company I am not sure the tax man will accept shares when we next run up a bill with them..................... Link to comment Share on other sites More sharing options...
JoeP Posted October 15, 2019 Share Posted October 15, 2019 40 minutes ago, Clifford said: Me too. We may be shite on the pitch, Christ we have been for 20 years, but there always some sense of community or warmth with the internal staff and club. Players and managers would regularly mention it. We now are under an owner happy to sack people on a whim and have a side even the most ardent of fan would struggle to recognise on the street. Those sitting back and not trying to rid the club of this owner please do not moan when we end up like Bury. We all knew the script at Bury but their fans only took action when it was too late. Unlike a loan company I am not sure the tax man will accept shares when we next run up a bill with them..................... Are we still in trouble financially? Not been many stories of people not being paid recently.. Financially, he might be running us ok. It’s just every other single element that he’s running badly.. Link to comment Share on other sites More sharing options...
singe Posted October 15, 2019 Share Posted October 15, 2019 41 minutes ago, JoeP said: Are we still in trouble financially? Not been many stories of people not being paid recently.. Financially, he might be running us ok. It’s just every other single element that he’s running badly.. Depends on theses shares. If they are the Necarcu loan, that's £350k he might not have been able to pay. The devil is the detail, and I wish the Trust could shed some light. Link to comment Share on other sites More sharing options...
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