On that occasion, Chappell and Murray were due to attend a meeting of the Bromley Addicks fans' group but were forced to postpone their visit after it was revealed that Dubai-based Zabeel Investments had made an offer to take over the Addicks.
They didn't have to put that in there.
Surely this confirms something is going on right now. SLP broke the news yesterday and they don't want to (and legally can't?) discuss anything to do with it with the fans at the moment.
[cite]Posted By: razil[/cite]so what points of business law could they be breaching?
It's not that they would be breaching any law but they wouldn't be able to answer any questions relating to the takeover or anything eminating from the takeover i.e Parky/Kinsella's position etc. Lets be honest, the majority of questions would be regarding the takeover & they would have to plead the fifth amendment so the whole evening would be pointless. Correct decision.
Richard added: "It might sound strange, but I hope fans take this as a positive thing, and of course we will rearrange the event the moment we are able to speak more freely."
[cite]Posted By: stop shouting[/cite]It's not that they would be breaching any law but they wouldn't be able to answer any questions relating to the takeover or anything eminating from the takeover i.e Parky/Kinsella's position etc. Lets be honest, the majority of questions would be regarding the takeover & they would have to plead the fifth amendment so the whole evening would be pointless. Correct decision.
spot on. that's the point that the lawyer bloke from 606 who se9 quoted is missing -people would keep asking questions they can't answer which would annoy supporters and maybe the event going ahead would make investors nervous at a critical time.
not trying to stir anything up, and it's just a personal choice, but i looked at 606 yesterday for the first time in a very long time and managed to read about 2 threads before i couldn't take anymore.
we would have learned feck all that we wanted to hear the unfortunate thing is that this plays straight in to the hands of the boards biggest critics and that is not a good thing.
I think that the wheels are turning fast it makes alot of what i have heard make sense.
i reckon 2 or 3 days and the club will have a new owner.
i for one Mr Murray thank you for all youve done and for taking the finacial hit, i hope you have a part to play in the rebuild
"Having to postpone this event goes against how we would rather do things, but we also have to take into account the circumstances around at the time, and we have a duty to comply with company law"
As McLoven points out, IF there is something going on why the feck was the Q and A organised in the first place and why leave it till the last minute to cancel it?
[cite]Posted By: se9addick[/cite]This is the response of a Lawyer who posts on 606 (http://www.bbc.co.uk/dna/606/A54135704) quite interesting as "legal advice" is given as the reasoning behind postponment.
Well much ado about nothing hey? After all the build up, the Q&A has been called off "following legal advice"
Now the obvious inference is that something is happening on the tajeover. However, I do not think this justifies a postponement
Fans will be angry at the short notice and no doubt accusations of Murray et al "bottling it"
My thoughts on using the lawyers as the excuse is poppycock. A lot of the questions fans want answer relate to past events and statements that have eminated from the Board. I cant see how honest answers to these questions would create a conflict of interest.
I think they have lost an opportunity to engage the fans. using the legal excuse doesnt wash and I see it more that they are scared of a witch hunt.
of course they wouldnt be able to comment on a takeover (although thats business not legal reasons - nothing in law preventing a statement acknowledging their has been interest). a better solution would have been four murray to take counsel with him, deflect the potentially conflictory questions and answer the ones he can. at least that would show willing
Sorry this is total b*llocks. The problem for Murray and Chappell is that if information did leak out into the public domain, even if they were able to blank every question on Thursday, they would potentially be "in the frame". There would be a great deal of light shone in their faces and almost certainly they don't want, in any way, to be thought of as jeopardising any deal in the offing or being held in breach of contract, even if they didn't let anything slip. There are normally enough people involved for a possible breach even with all the NDAs signed.
This view by the lawyer is a sloppy, self-serving view in my opinion.
Richard added: "It might sound strange, but I hope fans take this as a positive thing, and of course we will rearrange the event the moment we are able to speak more freely."
I think that's all we need to know at the moment.
I also would like to echo NLA's sentiments regarding RM.
[Cite]The Official Site said:
News of the postponement of the question-and-answer session brings back memories of a similar decision in October last year.
On that occasion, Chappell and Murray were due to attend a meeting of the Bromley Addicks fans' group but were forced to postpone their visit after it was revealed that Dubai-based Zabeel Investments had made an offer to take over the Addicks
OK, now I believe that somethings's happening.
That was my reaction too.
More convinced now than every that something is happening. Is it close or about to happen or even going to happen? Who knows but IMHO something is brewing. Let's hope it is good news. The pain if it falls thru is going to be terrible.
Do have to say thanks and well to Gill and the FF. I know what it is like to have the rug pulled at the last minute (see above) and how much effort goes into these things. Let's hope it's rescheduled ASAP and there is some positive news to pass on.
[cite]Posted By: Barn Door Varney[/cite]Sorry but this is bollox!
As McLoven points out, IF there is something going on why the feck was the Q and A organised in the first place and why leave it till the last minute to cancel it?
I imagine that they hoped it would all be done by now, in which case they could answer all the questions or deflect them to new owners.
[cite]Posted By: falconwood_1[/cite]I also would like to echo NLA's sentiments regarding RM.
Yes agreed, but if they have lost between them £30M invested then it's not just RM who is taking a huge hit and we should thank them all because, living as I do in Norwich, their fans have not yet forgiven Robert Chase who, it's alleged, got his money out first leaving the club potless. These guys appear to have ensured the club will survive and have lost their shirts.
Greater love have no man than he lay down his life for his friend
Greater love have no fan than he lay down his dosh for his club
Will pan out my reasons with a bit more clarity when i get time, but my initial view is that I think cancelling it, legal advice or not, is a big mistake and a huge disappointment in terms of fan / club interaction.
Go onto FT.com and pick a story about a company involved in an acquisition. What you'll almost definitely notice in there is that there is (public) communication with their shareholders, the market, customers (in some cases) and the press. I'm not sure of the ins and outs of it, but are we now saying that all of these organisations failing to comply with company law? Implying that this is the reason for the cancellation is frustrating: if they're saying that they're in the latter stages of takeover talks then they should say that and not just imply something that is not true; at a time when your customer base is feeling confused and unhappy.
[Cite]The Official Site said:
News of the postponement of the question-and-answer session brings back memories of a similar decision in October last year.
On that occasion, Chappell and Murray were due to attend a meeting of the Bromley Addicks fans' group but were forced to postpone their visit after it was revealed that Dubai-based Zabeel Investments had made an offer to take over the Addicks
OK, now I believe that somethings's happening.
That was my reaction too.
More convinced now than every that something is happening. Is it close or about to happen or even going to happen? Who knows but IMHO something is brewing. Let's hope it is good news. The pain if it falls thru is going to be terrible.
Do have to say thanks and well to Gill and the FF. I know what it is like to have the rug pulled at the last minute (see above) and how much effort goes into these things. Let's hope it's rescheduled ASAP and there is some positive news to pass on.
Gotta agree i'm sold now we are gonna be taken over by none other than................. Zabeel!
always suspected it wouldn't go ahead but because a takeover would have already been done and as they were no longer involved it would be inappropriate for them to comment. Fingers crossed it'll be good news by the end of the week.
[cite]Posted By: Henry Irving[/cite]Do have to say thanks and well to Gill and the FF. I know what it is like to have the rug pulled at the last minute (see above) and how much effort goes into these things. Let's hope it's rescheduled ASAP and there is some positive news to pass on.
definitely echo that. Lets hope when it's rescheduled original tickets still apply so that Gill doesn't have to go through a whole new set of e-mails. ;0)
Regardless of what industry you are in, when there is a buyout going on, there are certain guidlines all parties have to folllow, believe you me, even where i am when we are buying out companies, you cant get a sniff of info from the MD and he is a good friend. It is normal business practice, by cancelling the event it would suggest it is at a very crucial stage, and that for the club to state that they have been told by there solictors to cancel the meeting would suggest it is all but done. I would certainly expect some form of official announcement within the next 48 to 72 hours
[cite]Posted By: McLovin[/cite]Go onto FT.com and pick a story about a company involved in an acquisition. What you'll almost definitely notice in there is that there is (public) communication with their shareholders, the market, customers (in some cases) and the press. I'm not sure of the ins and outs of it, but are we now saying that all of these organisations failing to comply with company law? Implying that this is the reason for the cancellation is frustrating: if they're saying that they're in the latter stages of takeover talks then they should say that and not just imply something that is not true; at a time when your customer base is feeling confused and unhappy.
Are you saying that the lawyers advising RM/The Board don't know what they are doing? Come on. lets be adult about this, I do not believe they cancelled this out of convenience or avoidence of the issues, they are perfectly capable of dodging the questions if they need to. No the lawyers have made it clear that it would be folly for them to meet in a public forum at this stage in developments.
[cite]Posted By: AFKABartram[/cite]Will pan out my reasons with a bit more clarity when i get time, but my initial view is that I think cancelling it, legal advice or not, is a big mistake and a huge disappointment in terms of fan / club interaction.
100% mate.
No news to the (very) minor shareholders either.
Still, as someone once said "we're only football fans......"
[cite]Posted By: AFKABartram[/cite]Will pan out my reasons with a bit more clarity when i get time, but my initial view is that I think cancelling it, legal advice or not, is a big mistake and a huge disappointment in terms of fan / club interaction.
Let's see what unfolds first, if the takeover is announced in the near future then that in my view is acceptable as an excuse.
Murray/Chappell are going to be asked about the T/O and if they deny that something is happening or say that something is going to happen, "but we can't say more" and then it falls through the next morning then it'll look even worse. The legal advice get out out is probably lawyers making themselves look important, but if the prospective buyers ask for confidentiality then Muzzer and Delboy are going to have to respect that.
Comments
Surely this confirms something is going on right now. SLP broke the news yesterday and they don't want to (and legally can't?) discuss anything to do with it with the fans at the moment.
so the views could get out their first and not be closed down?
perhaps fan pressure has made them see sense
Agreed
spot on. that's the point that the lawyer bloke from 606 who se9 quoted is missing -people would keep asking questions they can't answer which would annoy supporters and maybe the event going ahead would make investors nervous at a critical time.
not trying to stir anything up, and it's just a personal choice, but i looked at 606 yesterday for the first time in a very long time and managed to read about 2 threads before i couldn't take anymore.
Fans Q = What happened to the TO
RM= Not allowed to comment
Fans= How bad is the debt
RM= not allowed to comment
Fans= Will parky still be the MGR
RM= Not allowed to comment
we would have learned feck all that we wanted to hear the unfortunate thing is that this plays straight in to the hands of the boards biggest critics and that is not a good thing.
I think that the wheels are turning fast it makes alot of what i have heard make sense.
i reckon 2 or 3 days and the club will have a new owner.
i for one Mr Murray thank you for all youve done and for taking the finacial hit, i hope you have a part to play in the rebuild
I was basing my comment on the above.
Hey ho lets see what happens next
As McLoven points out, IF there is something going on why the feck was the Q and A organised in the first place and why leave it till the last minute to cancel it?
Sorry this is total b*llocks. The problem for Murray and Chappell is that if information did leak out into the public domain, even if they were able to blank every question on Thursday, they would potentially be "in the frame". There would be a great deal of light shone in their faces and almost certainly they don't want, in any way, to be thought of as jeopardising any deal in the offing or being held in breach of contract, even if they didn't let anything slip. There are normally enough people involved for a possible breach even with all the NDAs signed.
This view by the lawyer is a sloppy, self-serving view in my opinion.
I think that's all we need to know at the moment.
I also would like to echo NLA's sentiments regarding RM.
I imagine that they hoped it would all be done by now, in which case they could answer all the questions or deflect them to new owners.
Yes agreed, but if they have lost between them £30M invested then it's not just RM who is taking a huge hit and we should thank them all because, living as I do in Norwich, their fans have not yet forgiven Robert Chase who, it's alleged, got his money out first leaving the club potless. These guys appear to have ensured the club will survive and have lost their shirts.
Greater love have no man than he lay down his life for his friend
Greater love have no fan than he lay down his dosh for his club
definitely echo that. Lets hope when it's rescheduled original tickets still apply so that Gill doesn't have to go through a whole new set of e-mails. ;0)
Murray has basically confirmed that.
Wasn't that the case last time though?
And it didn't happen.
Are you saying that the lawyers advising RM/The Board don't know what they are doing? Come on. lets be adult about this, I do not believe they cancelled this out of convenience or avoidence of the issues, they are perfectly capable of dodging the questions if they need to. No the lawyers have made it clear that it would be folly for them to meet in a public forum at this stage in developments.
No news to the (very) minor shareholders either.
Still, as someone once said "we're only football fans......"
Let's see what unfolds first, if the takeover is announced in the near future then that in my view is acceptable as an excuse.
Murray/Chappell are going to be asked about the T/O and if they deny that something is happening or say that something is going to happen, "but we can't say more" and then it falls through the next morning then it'll look even worse. The legal advice get out out is probably lawyers making themselves look important, but if the prospective buyers ask for confidentiality then Muzzer and Delboy are going to have to respect that.