Bloody hell...even relegation threatened, Division 4, Morecambe can get a takeover sorted out...not too sure what the new owners - Bong Group - do, but I’m not gonna blow smoke on em!!
I still don't understand what will happen to the dept(s) that has been carried over for the last few owners?
Can someone please explain in really simple terms?
Tyia
They stay exactly where they are unless cash from somewhere is used to repay them or they are written off by the creditors. Nothing changes purely as a result of a different person controlling a majority of shares - the debt is owed by the company, not the owner.
I still don't understand what will happen to the dept(s) that has been carried over for the last few owners?
Can someone please explain in really simple terms?
Tyia
They stay exactly where they are unless cash from somewhere is used to repay them or they are written off by the creditors. Nothing changes purely as a result of a different person controlling a majority of shares - the debt is owed by the company, not the owner.
the company owes the money, but the director who sold (and lent the money) is still owed the debt. Which is why roland is basically using the club as a racket.
Bloody hell...even relegation threatened, Division 4, Morecambe can get a takeover sorted out...not too sure what the new owners - Bong Group - do, but I’m not gonna blow smoke on em!!
I still don't understand what will happen to the dept(s) that has been carried over for the last few owners?
Can someone please explain in really simple terms?
Tyia
They stay exactly where they are unless cash from somewhere is used to repay them or they are written off by the creditors. Nothing changes purely as a result of a different person controlling a majority of shares - the debt is owed by the company, not the owner.
Depends on whether the lender (former Directors) have a change of control clause in their loans. If they do they would have a veto on change of control (ie ownership) unless their loans were paid down in full...
Comments
God help us.
Just sell the club and FUCK OFF
And still nothing happening !!
Just sell up and F#CK OFF !!
https://www.google.co.uk/search?q=league+2+table&oq=league&aqs=chrome.3.69i57j6j0l4.5655j0j8&sourceid=chrome&ie=UTF-8#sie=lg;/g/11c718cpq8;2;/m/0355r8;st;fp;1
If Morcambe lose and Barnet win their final fixtures Morcambe go down.
Can someone please explain in really simple terms?
Tyia
How do you even do that?
Just sell the club and FUCK OFF
Get it right
Now I am wondering if it will reach 1000.
Monday will do for us.