janaage
People's Front of Alba
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« Reply #30 on: Thursday, June 7, 2007, 12:00:05 » |
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Great News  Now something might happen, legal action has been needed for a while now. I'm with Yeovil, this really isn't worrying news, PD stated many months ago that if negotiations cam eot nothing that this would most probably be the only course of action available to BP and co. He is effectively trying to force the hand of the board. Don't start losing your bottle now, this is when BP and co need the support the most. Bring it on!!! |
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sonic youth
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« Reply #31 on: Thursday, June 7, 2007, 12:01:53 » |
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The club do not have £1.2m handy so would need to very quickly get on bended knees and plead for repayment terms, or face being forced to wind-up the business. perhaps i'm being too cynical but i can imagine diamandis saying "fuck it" and just winding-up the club. do you really think he has the capacity and honesty to admit defeat? |
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ghanimah
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« Reply #32 on: Thursday, June 7, 2007, 12:03:31 » |
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So in reality power could have done this to start with ? He could but this would leave him open to accusations of not having the club's best interests at heart. This way BP can say I'm trying to help the club but they're being slow & awkward so I'm forced down this path |
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"We perform the duties of freemen; we must have the privileges of freemen ..."
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herthab
TEF Travel
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« Reply #33 on: Thursday, June 7, 2007, 12:03:35 » |
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The club do not have £1.2m handy so would need to very quickly get on bended knees and plead for repayment terms, or face being forced to wind-up the business. perhaps i'm being too cynical but i can imagine diamandis saying "fuck it" and just winding-up the club. do you really think he has the capacity and honesty to admit defeat? Surely MD can't do that? His signature's worth fuck all.............. |
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It's All Good..............
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sonic youth
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« Reply #34 on: Thursday, June 7, 2007, 12:06:05 » |
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you'd have thought not but it's abundantly clear who calls the shots.
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Tails
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Git facked
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« Reply #35 on: Thursday, June 7, 2007, 12:08:17 » |
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Maybe I am being naive here but surely SSW wouldn't allow that? After he is supposedly a Swindon fan. I can't see him cutting off his nose to spite his own face.
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red macca
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« Reply #36 on: Thursday, June 7, 2007, 12:09:24 » |
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Legally if there is someone willing to takeover they would not be able to let the club fold anyway surely.
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pauld
Aaron Aardvark
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Absolute Calamity!
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« Reply #37 on: Thursday, June 7, 2007, 12:18:27 » |
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So in reality power could have done this to start with ? Yes, absolutely. If as the various Adver forum aliases suggest all Bill P is interested in is getting his money back, he'd have sued them in October. Statutory demand, 28 days, money back or that's it. |
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RobertT
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« Reply #38 on: Thursday, June 7, 2007, 12:19:42 » |
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The owner can if they wanted to. Diamandis has no direct say in the matter and for once Wills may have to make his own decision. BY winding-up the business he is protected from paying off the creditors, but he also loses all his own investment over the years.
Whether other creditors could pursue any actions against those at the club is something I'd have no clue about, but don't think they can stop a winding-up.
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pauld
Aaron Aardvark
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Posts: 25436
Absolute Calamity!
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« Reply #39 on: Thursday, June 7, 2007, 12:20:28 » |
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Maybe I am being naive here but surely SSW wouldn't allow that? After he is supposedly a Swindon fan. I can't see him cutting off his nose to spite his own face. I'd certainly hope not. Push comes to shove, while MD may have a lot of clout, he has no legal power to force the club down the tubes rather than accept an offer - the Wills family own the majority shareholding in both the club and the holding co, so legally it's their shout. |
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Iffy's Onion Bhaji
petulant
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« Reply #40 on: Thursday, June 7, 2007, 12:20:48 » |
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well this is big news! we cold go down the pan or get taken over at last! it's just what the doctor ordered though! no more Mr nice guy from BP and it's about time the board (who must be shitting themselves) stepped aside. lets see what happens....
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Power to people
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« Reply #41 on: Thursday, June 7, 2007, 12:53:59 » |
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If this is how it has to be then so be it, this is how the current incumbents got the club from Donnegan & Blatchley wouldn't it be dejavu if this is how the current lot lost control..the same way they gained control
What goes around comes around...
Go now while there is still some dignity.
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Phil_S
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Who changed my Avatar ?!
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« Reply #42 on: Thursday, June 7, 2007, 13:21:24 » |
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Even on the Adver board most are behind bill Power
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From the Dark Side
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Iffy's Onion Bhaji
petulant
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« Reply #43 on: Thursday, June 7, 2007, 13:22:17 » |
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yup. it's time for the board to step aside! surely they dont want to pay the money for a legal battle?
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Power to people
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« Reply #44 on: Thursday, June 7, 2007, 14:17:20 » |
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Would they have the money for a legal battle more to the point, it must be costing them enough for their solicitors that are dealing with the NDA let alone having to fund a court case.
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