Lee Power

[Batch]

What's flammableBen's first name?

Flammable. obviously. duh

[Berniman]

And you Paul.

Oh no, I've been exposed...  You could have just asked me, no need to go trolling around Twitter and Facebook, it's not as if I am hiding my name - i have no need to like some

[wokinghamred]

Many seem to think the process should be simple because the price has been set at £250k. But I suspect (pure speculation) that the hold up here is that many of the debts on the balance sheet are owed to Lee Power.

Morfuni is paying £250k to take on a company that will continue to owe a significant amount of money (£6m??) to Lee Power.

And there’s the problem. There is very unlikely to be credible records to demonstrate how those debts have accrued. And then, we suspect a good proportion of the debt is because extortionate interest payments have inflated the number. That’s an interest rate set by Power as “lender”, and by Power as “borrower”. That’s like the bank forcing you to sign a mortgage with a 25% interest rate. He can always write those debts off, extinguishing a debt for the club. But if he is to sell, he has zero interest in writing them off.

And he knows that as each day passes, whatever Morfuni buys has a higher risk of depreciating if Conference football becomes more likely. So perhaps he is banking on Morfuni agreeing to purchase those debts, old director “loans” and all.

So what happens if Morfuni doesn’t agree to buy them? He has to refuse the offer to purchase, which frees Power up to sell to Able, because the injunction would likely be lifted, because Morfuni (understandably) may prefer not to pay Power full whack for his dodgy loans. That’s if Able exist. His lawyers said they do and we have to take that at face value. Power may be liberal with the truth but his legal team won’t knowingly lie in Court.

So perhaps Power has more bargaining power here than we all thought. Hence the delay. People have suggested this is Power’s window for shredding the evidence. It’s more likely that he has dug his heels in and is refusing the write off the loans.

Morfuni could buy the club, and then refuse to pay Power’s debts. But then we have years of litigation between the Club under new ownership and Power over that. Morfuni will want to be certain he is not over exposed.

Happy to be told I am well wide of the mark.

Despite the abusive comments that follow, that's exactly how I expect it is.

If it were me, I would want the accounts audited before I would touch it. That way, if "new" debt emerges later, the auditors professional indemnity insurance may come into play. However, I expect that Mr Power would refuse to agree to that.

[The Artist Formerly Known as Audrey]

Axis can hardly pay Power all he says he’s owed. Standing still reckons he’s entitled to 50% of anything and he sure won’t get it off Power.

[Frigby Daser]

.

[Batch]

This is from latest from the Duke of Banbury and the TEF ITK gang.

Clem is feeling the pressure of the takeover, and his arsehole has gone like a chewed orange.

No Need for the image Dolph

[fuzzy]

Also from the public domain...

I'm Ian Bailey

Free free to email at ianbailey@nationwide.com

Are you?
Are you really?
I don't think so but, I don't know you.
I suspect you are a sad lonely cunt looking to get a rise out of Swindon Town fans but, I have been known to be wrong.
Anyway, whoever and whatever you are, carry on, you are quite amusing.

[RobertT]

I bet PowerUp can't figure out my name.

[Nemo]

Not unless he works for the American insurance company nationwide.com, rather than the UK building society nationwide.co.uk, no.

[Batch]

I bet PowerUp can't figure out my name.

Don't tell him your name, Robert

[fuzzy]

I bet PowerUp can't figure out my name.

Don't tell him Pike........

[Ginginho]

I’ll buy you a pint if you know my name.

(That only applies to PowerUP, not any of you cunts who actually know me 😂)

[Flashheart]

Not unless he works for the American insurance company nationwide.com, rather than the UK building society nationwide.co.uk, no.

He works for neither.

He's figured out a way to sign up using the domains of companies that he's never even set foot inside, let alone worked for.

[Peter Venkman]

I’ll buy you a pint if you know my name.

(That only applies to PowerUP, not any of you cunts who actually know me 😂)

Fucker I was hoping for a pint off you Tony.

[Ginginho]

Fucker I was hoping for a pint off you Tony.

I’ll happily buy you a pint any time, Venkman