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Three cheers for the ex-Directors

According to Duchatelet, three ex-Directors are holding up completion of a takeover by not accepting offers to settle outstanding loans (four ex-Directors possibly if we include David White).

These are the men who loaned the club money in the past under better ownership because the club were desperate for it. They did so on zero percent interest and on the basis that the loans would only ever be repayable if the club hit the Premier League jackpot. Hardly the action of greedy or grasping individuals compared to Duchatelet himself who charges the club 3% on his loans and who is demanding a ridiculously unrealistic price to sell.

I am as desperate for a takeover as anyone but I am more than prepared to wait another 6 months or longer if it means the ex-Directors get what they want in settling these loans and Duchatelet has to suck-up ongoing losses . Duchatelet didn't bother with Due Diligence when he bought the club because he was arrogant enough to assume his wealth would enable him to deal with any problems and because he didn't want to pay for it or wait until it was concluded. So it's entirely his own fault that he is now having to settle this. The issue was exposed years ago when the protests started but still he didn't bother about it, until now.

I am sure most of our supporters will back the ex-Directors here in them getting what they want to settle their loans. Another loss Duchatelet should be forced to pay for. 
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Comments

  • Two per cent (!) interest in more recent accounts.
  • Can somebody confirm that the ex-director loans are at 0% interest. 
    If so, why would they be hesitant when anyone offered to repay them ?
  • Two per cent (!) interest in more recent accounts.
    Who Roland  ?
  • They can't refuse to accept repayment in full  but they are being asked to take a haircut
  • Can somebody confirm that the ex-director loans are at 0% interest. 
    If so, why would they be hesitant when anyone offered to repay them ?
    I presume because the offers are partial ones.
  • Can somebody confirm that the ex-director loans are at 0% interest. 
    If so, why would they be hesitant when anyone offered to repay them ?
    Because they're not being offered full payment.  

    They cannot object if they're being offered the full amount of the loan, but Roland is offering to pay back only part of the amounts - ie a heavily-discounted repayment. 

    If you loaned someone £1,000, would you accept £500 as repayment? 
  • But David White has clearly stated that he has had no contact or discussions over his loan
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  • They can't refuse to accept repayment in full  but they are being asked to take a haircut
    Not so much of a haircut but a full head shave is what I have heard
  • They can't refuse to accept repayment in full  but they are being asked to take a haircut
    More than a haircut - more like butchering them with blunt clippers 
  • DA9 said:
    But David White has clearly stated that he has had no contact or discussions over his loan
    No, he said he had been contacted recently and was willing to discuss his loan.
    However, no discussion has taken place.
  • According to Duchatelet, three ex-Directors are holding up completion of a takeover by not accepting offers to settle outstanding loans (four ex-Directors possibly if we include David White).

    These are the men who loaned the club money in the past under better ownership because the club were desperate for it. They did so on zero percent interest and on the basis that the loans would only ever be repayable if the club hit the Premier League jackpot. Hardly the action of greedy or grasping individuals compared to Duchatelet himself who charges the club 3% on his loans and who is demanding a ridiculously unrealistic price to sell.

    I am as desperate for a takeover as anyone but I am more than prepared to wait another 6 months or longer if it means the ex-Directors get what they want in settling these loans and Duchatelet has to suck-up ongoing losses . Duchatelet didn't bother with Due Diligence when he bought the club because he was arrogant enough to assume his wealth would enable him to deal with any problems and because he didn't want to pay for it or wait until it was concluded. So it's entirely his own fault that he is now having to settle this. The issue was exposed years ago when the protests started but still he didn't bother about it, until now.

    I am sure most of our supporters will back the ex-Directors here in them getting what they want to settle their loans. Another loss Duchatelet should be forced to pay for. 
    I would be prepared to wait but it would probably mean that the Rat had not increased Bow's contract offer and none of the players out of contract would have received one either....

    So, with no guarantee that in 6 months or longer this Directors' loans fiasco would be concluded successfully, we could 
     be left without our manager and most, if not all of our current squad. 
  • According to Duchatelet, three ex-Directors are holding up completion of a takeover by not accepting offers to settle outstanding loans (four ex-Directors possibly if we include David White).

    These are the men who loaned the club money in the past under better ownership because the club were desperate for it. They did so on zero percent interest and on the basis that the loans would only ever be repayable if the club hit the Premier League jackpot. Hardly the action of greedy or grasping individuals compared to Duchatelet himself who charges the club 3% on his loans and who is demanding a ridiculously unrealistic price to sell.

    I am as desperate for a takeover as anyone but I am more than prepared to wait another 6 months or longer if it means the ex-Directors get what they want in settling these loans and Duchatelet has to suck-up ongoing losses . Duchatelet didn't bother with Due Diligence when he bought the club because he was arrogant enough to assume his wealth would enable him to deal with any problems and because he didn't want to pay for it or wait until it was concluded. So it's entirely his own fault that he is now having to settle this. The issue was exposed years ago when the protests started but still he didn't bother about it, until now.

    I am sure most of our supporters will back the ex-Directors here in them getting what they want to settle their loans. Another loss Duchatelet should be forced to pay for. 
    Yup
  • Is this still based on the directors being paid out in promotion to the Prem. Or is payment due to happen with the current sale?
  • Roland and the buyers performing a pincer movement on the directors to stitch them up?
  • Does anyone know the value of the loans? I appreciate there must be some complexity to them, but I struggle to grasp why they are such a blocker. Surely if we reach the Prem, 1 or 2 million to ex-directors is nothing!

    Not to mention LDT said ex-director loans would not be a problem! 
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  • And they've now put out a statement via Voice of the Valley ... fair play   
  • edited June 9
    As said upteen times feck all to do with the Ex Director's loans ------ are we now clear Mr Seed?
  • edited June 9
    So stick that up your pipe Duchatelet!
  • edited June 9
    When do the protests start up again then?
  • stonemuse said:
    Could it be that RD is playing a new game?

    Trying to get ... or embarrass ... the ex-directors to accept a big discount - then he decides he doesn’t want to sell and takes the opportunity to obtain finance (or seek other opportunities) using the land as collateral?

    I wouldn’t be surprised if he sees the land as his big chance to make money, and is using the proposed buyers as pawns in his game. 

    Far-fetched? Maybe. But nothing would surprise me with this individual. 
    My guess is that Roland is hoping that Charlton fans will start putting pressure on David White etc to get them to take the offer.

    Yet more evidence that he really, really don't get

    Roland has never and will never understand the fans of this great club. 100% behind the directors that hold out for afull return of the money due.

  • As said upteen times feck all to do with the Ex Director's loans ------ are we now clear Mr Seed?
    That's a really odd statement!
  • edited June 9
    From the most recent annual report.
    And this....

  • Looks like a right con! Can we also use FRS 102 discounting the debt to Roland, with a factor of 3% or whatever - does anyone understand it?
  • edited June 9
    Ferryman said:
    Looks like a right con! Can we also use FRS 102 discounting the debt to Roland, with a factor of 3% or whatever - does anyone understand it?
    It is a load of bollocks in that it is just a fancy way of putting in an estimate of what £7 million at the date of the accounts, 30 June 2018 presumably, will be worth in real terms after inflation, loss of interest etc in 2 years time. 

    In the unlikely event of us ever reaching the Premier league under the Belgian lunatic the physical amount actually paid out would still be £7 million everything else remaining equal.
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Roland Out!