Ask Richard Murray you know him well, ask him if Roland will pay him and the other Ex Directors off, he bought Club without clearing charges why? Did he know? Did Meire and Joyes screw up? Any new buyer with a brain wants those charges lifted, and they are more valuable than Roland’s loans that are unsecured. My source, It’s common knowledge those guys want their money back if buyers want charges released and who wouldn’t in their shoes.
Lots of assumptions about what the old director want there. I don't know what each one wants other than as fans they want the best for the club as they see it.
And that's the problem. Murray sees his continued involvement as best for the club.
All my opinion of course ,If a deal looks like it involves giving him the elbow then he won't sanction it.
Deal was done then Duchatalet realised that Ex Directors came first in Debt Queue, and if he had to pay them off to give clean title to buyer, then he would get less. Now looking for someone who will let him leave debt in place or a mug who will put his debt second in line with no assets like he did. This deal is a long way off.
I get the feeling this is closer to the truth than anything else posted on here
Personally I thought once Joyes left it made it all a lot closer but there’s always been a nagging doubt in my mind that This is not close and hasn’t ever been that close to being completed
DD has been done I know that but I also know DD threw up a problem and that led to posturing and once it reached that point you have to either have the balls to walk away or pay up , I said it on here that if it’s RD that has that choice then I worry as he is rich enough and big enough cnut to screw us totally
Yesterday Airman asked the most significant question
Why has RD put this out there now
Well maybe he has just realised that he has been butt fkd for a few quid and now is the time to let km and joyes go and get Murray to sort the shit out that he kept to himself
DD is there to find these issues -----of course if u had a huge ego you might not bother doing a thorough DD or just ignor it ,someone with an ego as big as RD.Or maybe if you had total faith in a lawyer on your team who had no fecking clue what she was looking at ?
What's to stop a prospective buyer buying that debt of the former directors, thus leaving RD in a very uncomfortable middle ground where he would potentially be trying to withhold from the buyer and asset they already have a charge over.
So RD was thinking he could sell and leave a debt against the club and thought ‘if these clowns go bust it comes back to me’ not realising he’d actually be 2nd in the queue and get nowt?
What's to stop a prospective buyer buying that debt of the former directors, thus leaving RD in a very uncomfortable middle ground where he would potentially be trying to withhold from the buyer and asset they already have a charge over.
I was told once by one of those creditors that the debt wasn’t transferable. If that was true what you suggest couldn’t happen.
I cannot believe that RD would've bought the club without knowing that clause as mentioned above by Dave Smith.
Also, there must've been more legal people / advisors involved with the DD when RD spent £20 million to take-over the club, than just him and his pals inexperienced "lawyer" daughter (KM)?
The director loans issue is not something that needs specialist due diligence to uncover, the issue is explained in full in the published accounts that Meire herself signed off.
RD would have known about it too, but may have discounted it as too remote to matter. After all, under his ownership philosophy the loans were indeed of minimal value to the creditors, as the chances of ever making the pay-outs (on promotion to the Prem) were virtually non-existent. As we found out!
But @Davidsmith could well have a valid point. What if say 4 of 7 ex-directors readily agreed to a “haircut” (i.e. agreeing to write off some or even most of the face value of their loans in return for an immediate certain cash sum), but the others, or even one of the others, were to hold out for more? Then you have a problem even if everything else is agreed between buyer and seller - and it becomes a major value issue between the parties. How do you resolve this equitably? And who pays for this?
So RD was thinking he could sell and leave a debt against the club and thought ‘if these clowns go bust it comes back to me’ not realising he’d actually be 2nd in the queue and get nowt?
Not really mate, the ex directors are owed £7m which would have to be repaid in the event of a sale (assuming no deal with them to roll over their charges) or liquidation then the unsecured creditors would be next in line for whatever proceeds were left after all assets had been disposed of and last but not least the shareholders. At one time the Inland Revenue used to be higher up the order of priority but I think that's no longer the case.
And why should they write it off let’s be honest if someone can afford to buy the club then they can afford the debt if they can’t they shouldn’t be buying the club in the first place
If Meire leaving is a result of Duchatelet finding out about how the debts structured and making her resign as a result it would be the final sweetest victory. Not only with Roland have to part with his own cash, but the realisation that we were right and he was wrong, that Katrien was an incompetent idiot and we weren’t making it up.
I can’t get my head round this. The money owed to the ex Directors has been common knowledge since Cash and Jimenez took over. How can they miss this
General incompetence, ineptness, carelessness & thinking they know better & don’t have to attend to regular ways of doing things. In the process, they totally feck things up. A bit like the general football strategy ?
Why would any ex Director take a discount on his loan, he has no downside in admin he gets paid , as first in line in debt chain, before Duchatalet gets a penny , they have held it for 7 or 8 Years all rich do they need money? Duchatalet can wait and lose more money potentially , he certainly will build up more unsecured debt, or take a discount himself. When ex Directors bailed out £30mn of Equity was written off as well as £15mn of Bonds and Jimenez got Club for what £10mn was it Airman? Why does he expect to get £50mn now?
The Skysports story said at least two interested parties. The one I mentioned is still in talks , so that's at least three.
And from memory that’s the bid that is the game changer, praying RD goes for them, come one charlton give us some luck just this bloody once
Please correct me if I'm wrong , RH but you stated a few days ago that "money wouldn't be a problem" if the party you seemed to be aware of was successful.
I can’t get my head round this. The money owed to the ex Directors has been common knowledge since Cash and Jimenez took over. How can they miss this
It's also on all the Companies House paperwork as far as I recall, I know it's certainly on the credit files too. (Before I left my last job I ran checks on all the group companies, and it's all in black and white.)
So over the course of 4 years, there would've been at least 3 sets of accounts, that Katrien signed off on in her capacity as CEO, which outlined the structure of the debentures and liabilities...
The Skysports story said at least two interested parties. The one I mentioned is still in talks , so that's at least three.
And from memory that’s the bid that is the game changer, praying RD goes for them, come one charlton give us some luck just this bloody once
Please correct me if I'm wrong , RH but you stated a few days ago that "money wouldn't be a problem" if the party you seemed to be aware of was successful.
The Skysports story said at least two interested parties. The one I mentioned is still in talks , so that's at least three.
And from memory that’s the bid that is the game changer, praying RD goes for them, come one charlton give us some luck just this bloody once
Please correct me if I'm wrong , RH but you stated a few days ago that "money wouldn't be a problem" if the party you seemed to be aware of was successful.
Is this party still involved , please ?
Yes they are, as I mentioned above.
OK, thanks, RH.
I've read so many posts on numerous threads since arriving home from Wigan that I'm becoming more confused than usual.
Since I posted around 5.30 this evening, the water appears somewhat muddier & my initial euphoria on learning of KM & DJ's departures has nosedived.
Clearly, I'm very naive in these matters but also am led by my heart, not my head.
The Skysports story said at least two interested parties. The one I mentioned is still in talks , so that's at least three.
And from memory that’s the bid that is the game changer, praying RD goes for them, come one charlton give us some luck just this bloody once
Please correct me if I'm wrong , RH but you stated a few days ago that "money wouldn't be a problem" if the party you seemed to be aware of was successful.
Is this party still involved , please ?
Yes they are, as I mentioned above.
OK, thanks, RH.
I've read so many posts on numerous threads since arriving home from Wigan that I'm becoming more confused than usual.
Since I posted around 5.30 this evening, the water appears somewhat muddier & my initial euphoria on learning of KM & DJ's departures has nosedived.
Clearly, I'm very naive in these matters but also am led by my heart, not my head.
You'd think I would have learned by now.
Have a nightcap Fanny and let's see what tomorrow brings. If it's not the news most of us crave then we have to wait that bit longer for all the i's and t's to be crossed. Looked out for your group yesterday but our paths never crossed this time.
There is a lot of supposition going on here and conjecture but the fact is no one knows for sure what is going on, how close it is etc so I'm not getting too excited or too dejected by it all. Roland has publicly stated a sale is likely and dear old Katie has gone so things are moving in the right direction.
Comments
I get the feeling this is closer to the truth than anything else posted on here
Personally I thought once Joyes left it made it all a lot closer but there’s always been a nagging doubt in my mind that This is not close and hasn’t ever been that close to being completed
DD has been done I know that but I also know DD threw up a problem and that led to posturing and once it reached that point you have to either have the balls to walk away or pay up , I said it on here that if it’s RD that has that choice then I worry as he is rich enough and big enough cnut to screw us totally
Yesterday Airman asked the most significant question
Why has RD put this out there now
Well maybe he has just realised that he has been butt fkd for a few quid and now is the time to let km and joyes go and get Murray to sort the shit out that he kept to himself
It’s all a load of wank
Also, there must've been more legal people / advisors involved with the DD when RD spent £20 million to take-over the club, than just him and his pals inexperienced "lawyer" daughter (KM)?
RD would have known about it too, but may have discounted it as too remote to matter. After all, under his ownership philosophy the loans were indeed of minimal value to the creditors, as the chances of ever making the pay-outs (on promotion to the Prem) were virtually non-existent. As we found out!
But @Davidsmith could well have a valid point. What if say 4 of 7 ex-directors readily agreed to a “haircut” (i.e. agreeing to write off some or even most of the face value of their loans in return for an immediate certain cash sum), but the others, or even one of the others, were to hold out for more? Then you have a problem even if everything else is agreed between buyer and seller - and it becomes a major value issue between the parties. How do you resolve this equitably? And who pays for this?
Maybe that’s all just wishful thinking..
https://www.moneyexpert.com/debt-management/debt-consolidation/
Duchatalet can wait and lose more money potentially , he certainly will build up more unsecured debt, or take a discount himself.
When ex Directors bailed out £30mn of Equity was written off as well as £15mn of Bonds and Jimenez got Club for what £10mn was it Airman?
Why does he expect to get £50mn now?
Is this party still involved , please ?
So over the course of 4 years, there would've been at least 3 sets of accounts, that Katrien signed off on in her capacity as CEO, which outlined the structure of the debentures and liabilities...
I've read so many posts on numerous threads since arriving home from Wigan that I'm becoming more confused than usual.
Since I posted around 5.30 this evening, the water appears somewhat muddier & my initial euphoria on learning of KM & DJ's departures has nosedived.
Clearly, I'm very naive in these matters but also am led by my heart, not my head.
You'd think I would have learned by now.