Lee Power

[4D]

Why would we want to email you?

[Frigby Daser]

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.

[Batch]

Careful, Batch.

He has personal information on you that's readily available in the public domain...

oh no

shall I put the kettle on?

ps. Do you work in Scottsdale PowerUp? can have a pint if I have to come over for work

[BambooToTheFuture]

Lolz.

That's my 'trying to look professional so I'll put on some glasses that I rarely actually wear', look.

I genuinely thought it was a good look. Looks like you may have to thank "Mr.Bailey", they've essentially just given you some free advertising!

[Shrivvy Road]

Love this. Do some more names

[Flashheart]

ps. Do you work in Scottsdale PowerUp?

I'm quite sure he doesn't.

[PowerUP]

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.

Talking out your ass mate...

[PowerUP]

Love this. Do some more names

If you like Dean.

[Flashheart]

I genuinely thought it was a good look. Looks like you may have to thank "Mr.Bailey", they've essentially just given you some free advertising!

Thanks Bamboo.

But everyone knows I really look like this.

[BambooToTheFuture]

I'm quite sure he doesn't.

Inclined to agree. There's using a VPN but most aren't usually anywhere near from where they say. Unless clever about it.

[Shrivvy Road]

If you like Dean.

This is great John

[4D]

What's flammableBen's first name?

[PowerUP]

oh no

shall I put the kettle on?

ps. Do you work in Scottsdale PowerUp? can have a pint if I have to come over for work

It is well known that I love sunshine and golf.

[BambooToTheFuture]

Thanks Bamboo.

But everyone knows I really look like this.

This is genuinely how I had always envisaged you (thanks to the avatar).

She's got a tongue like an electric eel!

[Batch]

I'm quite sure he doesn't.

boooo. fraud