New beginnings - 25% Truth, 80% Bollocks

[The Artist Formerly Known as Audrey]

It's the Black debenture isn't it? Always was going to become due on sale of the club, but previous sales (Jed to Power?) had negotiated some sort of rollover? Or is it another debenture that we weren't aware of?

Strongly suspect that's a tax thing, like how Philip Green's entire business was always in his wife's name.

Of course it is. If things go tits up financially the wives declare bankruptcy without actually having any personal assets that can be grabbed in recompense. Tbf, that’s almost standard business practice.

[ChalkyWhiteIsGod]

Yeah this fucking stinks, to be honest. I'd like to believe Clem, I really would. The coverup and peddling Rob Angus out to lie has really fucked me up and I'm not sure I can even believe the extra debt. Is it from 1957 any chance?

Just all so deflating after the high of Tuesday.

[Bennett]

So clem didn’t pay for the debentures himself as it was said back in the October minutes. Was these other two!!

I assume the money came from Clem's account, but was only recently popped in there from the other two. He could technically be right, but i'm not sure it's cricket

[Bob1978]

I think Clem has said enough to explain the situation - he's a business man - you don't go from being a plumber in OZ to where he is now without pushing money around. As long as it's above board, the club is generally going in the right direction and will be in a much better position when he moves on to how Power left it. Just need to get out of league 2.

[The Artist Formerly Known as Audrey]

Well, all this has cleared one thing up - Clem hasn’t got a pot to piss in as far as financing the club goes.

[ChalkyWhiteIsGod]

We kind of knew that though really.

and if it is all true, its not exactly insignificant money to be paid at short notice.

[Riddick]

Well, all this has cleared one thing up - Clem hasn’t got a pot to piss in as far as financing the club goes.

We have always known this, not sure why its a surprise.

- You can expect someone who runs a company with a 200m turnover to have lots of cash on hand.
- What he has done is clear up the legacy debt, but insist the clubs runs sustainably, ie he doesn't have to put more money in
- he recovers what he has put in with the ground development etc

Its never been anything other than the above.

[The Artist Formerly Known as Audrey]

Is paying back the debenture so soon a legal requirement though. Would Black really be so insistent that it’s paid almost instantly?

[Leggett]

That raises more questions than it answers. Can't imagine RA is over the moon with the goings on, either. Hung out to dry last night, contradicted today.

[horlock07]

why oh why oh why did Rob/the club make such a stupid ham-fisted comment about the Companies House mistake last night at the forum?

And why make another statement today, for a club/business  that are apparently dishonest and unbelievable they don't half make a lot of statements!

One other thing that comes to mind from all this is that when the Standing/Power stuff finally does get to court, it's got every chance of getting very, very messy.

From what I have been hearing messy is putting it politely....

[DMC]

This zav getting beaten up.. is this actually true? Or just more bollocks
On a par with embletons mum getting a slap in the arkells

Seems like rubbish to me

absolutely true mate and has had a lot worse than that happen.

[mexico red]

I miss Diamandis, At least you knew he was 100% cunt.

How are we supposed to allegedly throw a brick through a window and allegedly paint a driveway if we don't know who the cunt actually is?

[RobertT]

Is paying back the debenture so soon a legal requirement though. Would Black really be so insistent that it’s paid almost instantly?

It was public knowledge that the Debenture was payable on the sale of the business, immediately.  Power weasled out when he took control by managing to make it so he was always the new owner and it never was Jed, before him.

[ChalkyWhiteIsGod]

That raises more questions than it answers. Can't imagine RA is over the moon with the goings on, either. Hung out to dry last night, contradicted today.

Yeah, even if I believe Clem.....royally fucked me off that has.

[Mooneyraker]

It was public knowledge that the Debenture was payable on the sale of the business, immediately.  Power weasled out when he took control by managing to make it so he was always the new owner and it never was Jed, before him.

Clem says otherwise...