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25% => The Boardroom => Topic started by: Shrivvy Road on Wednesday, September 22, 2021, 11:31:35



Title: STFC Advisory Board Meets For The First Time
Post by: Shrivvy Road on Wednesday, September 22, 2021, 11:31:35
Sometimes some things deserve a new thread  :D

https://www.swindontownfc.co.uk/news/2021/september/stfc-advisory-board-meets-for-the-first-time/


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Bob's Orange on Wednesday, September 22, 2021, 11:33:11
removed from the new beginnings thread and posted here instead -

These seem fairly interesting points from the advisory board minutes -

EP covered the current position on the debentures that are held which may have been passed to Lee Power from Andrew Black and Sir Martyn Arbib. It is not understood whether
the debentures have actually passed hands. It is expected that the triggers for the debentures have not yet been met. EP continues to assess the situation but (subject to seeing all the
relevant documents (which have not been available so far) is confident on the ability for the Club to defend debenture claims.

EP noted a number of legal disputes that he was working on for the Club. These included on a historic catering contract, a loan from Able that had been discovered which is
contrary to court evidence. Also there are contractual termination payment claims from McGreal, Gilmartin and Curran, as well as payment claims from Jewell, EP is defending the Club
strongly.

RA and CM noted that the number of creditors had reduced significantly from the c£4m known inherited position. Repayment plans have been agreed with HMRC, SBC, Puma
and the EFL. It was noted that SBC have sought a County Court Judgement (CCJ) to protect their claims, which gives rise to interest ad costs to the Club but relations are positive and
repayment plans for outstanding rent as well as current rent are being made on time. It was agreed that RA will continue to ask SBC to ‘satisfy’ the CCJ given the repayment plans. It was noted
that the CCJ severely impacts the credit worthiness of the Club. Action – RA to contact SBC to assess ability to ‘satisfy’ CCJ

EP = Eddie Parladorio who is a lawyer on the board.

Quaggy - Taylor Curran still has a nerve!! Also what is this £100k loan from 'Able' all about? That sounds like fake news if ever I heard it.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: SuggWillSugg MBE on Wednesday, September 22, 2021, 11:34:01
The way the minutes read, they are hoping to get the CG purchase wrapped up by December even though the council want a new valuation completed. I admire the optimism, but this seems a tad too optimistic? Unless December is just the date to get that new valuation completed.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Batch on Wednesday, September 22, 2021, 11:34:33
interesting.

mute information there than we've had for a very very long time

Able loan . hmmm


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Bob's Orange on Wednesday, September 22, 2021, 11:35:13
The way the minutes read, they are hoping to get the CG purchase wrapped up by December even though the council want a new valuation completed. I admire the optimism, but this seems a tad too optimistic? Unless December is just the date to get that new valuation completed.

It does state Target Date at risk. I assume that date will have to be pushed forward in one of the next meetings?


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Nemo on Wednesday, September 22, 2021, 11:37:51
Four and a half hours! I hope there were biscuits at least.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: The Artist Formerly Known as Audrey on Wednesday, September 22, 2021, 11:39:37
That Eddie Parldorio is a big hitter. Handled the legals for the BHS sale a few years back.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: TheDukeOfBanbury on Wednesday, September 22, 2021, 11:43:36
That Eddie Parldorio is a big hitter. Handled the legals for the BHS sale a few years back.

As said in a previous post we have an exceptionally decent lawyer.
In addition knows what has gone on and from the murky World of football has evidence.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Bob's Orange on Wednesday, September 22, 2021, 11:44:47
"Axis invested c£1m in loans to date to enable payment of salaries, pensions (inc back payments), creditors and starting to back pay creditors"

It doesn't say anywhere at what interest rate these loans were provided at. (that I can see) Given Clem's open and honest agenda it would be good to know.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Batch on Wednesday, September 22, 2021, 11:47:16
fair comment


Title: Re: STFC Advisory Board Meets For The First Time
Post by: horlock07 on Wednesday, September 22, 2021, 11:47:53
That Eddie Parldorio is a big hitter. Handled the legals for the BHS sale a few years back.

As in BHS the shop? Fuck I would not be holding that sale up as good practice?


Title: Re: STFC Advisory Board Meets For The First Time
Post by: horlock07 on Wednesday, September 22, 2021, 11:49:34
"Axis invested c£1m in loans to date to enable payment of salaries, pensions (inc back payments), creditors and starting to back pay creditors"

It doesn't say anywhere at what interest rate these loans were provided at. (that I can see) Given Clem's open and honest agenda it would be good to know.


Likewise and again its a small matter, but it would be handy to have some clarification as to why Lee Power is still a Director of STFC Ltd, only flagged up as I note froma a notification from CH today that further tidying of the STFC Ltd submissions to CH has been undertaken.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Bob's Orange on Wednesday, September 22, 2021, 11:53:44
Likewise and again its a small matter, but it would be handy to have some clarification as to why Lee Power is still a Director of STFC Ltd, only flagged up as I note froma a notification from CH today that further tidying of the STFC Ltd submissions to CH has been undertaken.

Potentially very minor and innocent things in the grand scheme of things, but as I think it's important certain things are questioned as we transition ownership.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: tans on Wednesday, September 22, 2021, 12:10:18
Currans got a claim in? For what?


Title: Re: STFC Advisory Board Meets For The First Time
Post by: The Artist Formerly Known as Audrey on Wednesday, September 22, 2021, 12:10:54
As in BHS the shop? Fuck I would not be holding that sale up as good practice?
Try and work it out for yourself if you can be arsed!

https://www.parliament.uk/globalassets/documents/commons-committees/work-and-pensions/Correspondence/From-Edward-Parladorio-14-07-2016.pdf


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Batch on Wednesday, September 22, 2021, 12:14:44
Quote from: tans
Currans got a claim in? For what?

cash
;)

presumably one of powers last acts? terminate contract in a way that he is owed ..

I assume power ripped it up

makes you wonder about the dynamic duo we appointed as management


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Shrivvy Road on Wednesday, September 22, 2021, 12:26:29
Likewise and again its a small matter, but it would be handy to have some clarification as to why Lee Power is still a Director of STFC Ltd, only flagged up as I note froma a notification from CH today that further tidying of the STFC Ltd submissions to CH has been undertaken.
Make sure you ask the trust to ask these questions for the next one


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Bob's Orange on Wednesday, September 22, 2021, 12:46:54
cash
;)

presumably one of powers last acts? terminate contract in a way that he is owed ..

I assume power ripped it up

makes you wonder about the dynamic duo we appointed as management

Yes I certainly think there is something 'dodgy' about the whole McGreal appointment thing, what with Power knowing full well he was going to be ousted very shortly. Nice way to make a quick buck out of the new owners?


Title: Re: STFC Advisory Board Meets For The First Time
Post by: swindonmaniac on Thursday, September 23, 2021, 07:28:28
Seems as though Power and his mates fucked this club over more than we'll ever know.
Hope he gets his cumuppence.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Power to people on Thursday, September 23, 2021, 10:53:55
Yes I certainly think there is something 'dodgy' about the whole McGreal appointment thing, what with Power knowing full well he was going to be ousted very shortly. Nice way to make a quick buck out of the new owners?

Even Jewell putting a claim in for monies owed....


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Peter Venkman on Thursday, September 23, 2021, 10:56:52
Even Jewell putting a claim in for monies owed....
Yep the man who was supposed to be doing the job as a favour to Power and not collecting a salary, its probably unpaid travel expenses etc that Power never bothered paying him.

Funny how so many come out of the woodwork when there is money in the offing.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Bob's Orange on Thursday, September 23, 2021, 11:08:47
Don't want to cast aspersions or go down the route of the lazy stereotype (but I will! :))  but Jewell and McGreal are both scousers and the city does have a reputation of providing characters that are a bit 'scallyesque'. Gilmartin is from Dublin and that city also has it's fair share of shadiness about it!


Title: Re: STFC Advisory Board Meets For The First Time
Post by: NotHarryAgombar on Thursday, September 23, 2021, 11:19:21
Reading this in the minutes, McGreal’s  charade of a media interview “..It’s Swindon Town! “ really grates now.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Bob's Orange on Thursday, September 23, 2021, 11:21:46
Reading this in the minutes, McGreal’s  charade of a media interview “..It’s Swindon Town! “ really grates now.


And his scripts on the official site. Nothing more than a puppet primed for a payout.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: The Artist Formerly Known as Audrey on Thursday, September 23, 2021, 11:24:08
Whilst all this seems highly likely, how on earth could McGreal think this would be good for his future employment prospects. Screwing a club over is hardly endearing to owners of other clubs - apart, I suppose, from those owned by equally nefarious characters.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Bob's Orange on Thursday, September 23, 2021, 11:26:29
Whilst all this seems highly likely, how on earth could McGreal think this would be good for his future employment prospects. Screwing a club over is hardly endearing to owners of other clubs - apart, I suppose, from those owned by equally nefarious characters.

I suspect his 'plan' was/is to play dumb and pretend he didn't know all this carry on was happening. "football managers don't get involved in the behind the scenes of a football club" type thing I suspect. He'll probably turn up at Bristol Rovers in a few months.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Shrivvy Road on Thursday, September 23, 2021, 12:24:05
Whilst all this seems highly likely, how on earth could McGreal think this would be good for his future employment prospects. Screwing a club over is hardly endearing to owners of other clubs - apart, I suppose, from those owned by equally nefarious characters.
They don't care about these types of people. Plenty of managers do these sort of things and walk into jobs. Look at Allardyce and Steve Evans for example


Title: Re: STFC Advisory Board Meets For The First Time
Post by: TheDukeOfBanbury on Thursday, September 23, 2021, 12:24:21
Whilst all this seems highly likely, how on earth could McGreal think this would be good for his future employment prospects. Screwing a club over is hardly endearing to owners of other clubs - apart, I suppose, from those owned by equally nefarious characters.

A few other underhand tactics unleashed by Power to sabotage the deal.
Can only look forward now.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: TheDukeOfBanbury on Thursday, September 23, 2021, 12:25:26
Seems as though Power and his mates fucked this club over more than we'll ever know.
Hope he gets his cumuppence.

I believe he will.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Legends-Lounge on Thursday, September 23, 2021, 13:35:04
I cannot help but think that Pee Lower realised the game was up after last season kicked off. From that point on, wild guess sometime in September there was a calculated plan to bury as many of the dead bodies of wrong doing as could possibly be achieved. Naturally dead bodies start to smell very quickly. The Able ‘red herring’ being the first significant smelly body to get noticed.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Batch on Thursday, September 23, 2021, 13:38:10
I'd imagine he simply did things to spite Clem, Austin and Standing.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Ardiles on Thursday, September 23, 2021, 14:03:49
I saw the Meeting Minutes, and the over-riding impression I had was how professionally they were presented; and how professionally the meeting seemed to have been conducted.  Actually being run as a business, by business people with proper business/commercial experience.

Appreciate that this isn't everything that's needed to run a successful football club.  But it's a vital piece of the jigsaw.  And one that's been lost behind the STFC sofa for many years.  So good to see.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Peter Venkman on Thursday, September 23, 2021, 14:04:12
I'd imagine he simply did things to spite Clem, Austin and Standing.
Absolutely, his exit strategy was to leave the club in as much shit as he could, hence letting Sheridactyl stay until relegation was confirmed as he knew the game was up around December time.

So line your mates pockets and fuck off.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: tans on Thursday, September 23, 2021, 14:46:49
I hope he ends up doing time


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Legends-Lounge on Thursday, September 23, 2021, 14:50:52
I'd imagine he simply did things to spite Clem, Austin and Standing.

Eventually that came a part of his modus operandi.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Legends-Lounge on Thursday, September 23, 2021, 18:01:21
Absolutely, his exit strategy was to leave the club in as much shit as he could, hence letting Sheridactyl stay until relegation was confirmed as he knew the game was up around December time.

So line your mates pockets and fuck off.

You think December? That’s generous of you Venks. Lest we forget the Able ‘scam’ came to light in or around October? I 100% agree with you about screwing the club over for as much as could possibly be done to sink it without a trace. Think MH370, sinking without a trace.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: TheDukeOfBanbury on Thursday, September 23, 2021, 19:17:42
I hope he ends up doing time

I would not rule that out.
Just hope the judge on the day shows no mercy. Without doubt plenty of evidence is in the locker.
Time for a few to get their own back.

Only negative if we “the club” get retribution.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: JBZ on Thursday, September 23, 2021, 21:05:52
Are there criminal proceedings? I missed that.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Frigby Daser on Friday, September 24, 2021, 07:46:53
I think we can put any suggestion to bed that McGreal came here with a dastardly plan to then leave with a payout. I struggle more with the idea that in football, somehow a manager or coach can decide to leave of their own choice, and receive a settlement payment. I never believed Jewell was working for free. I suspect that was just another off the cuff comment from our compulsive liar former owner.

The minutes show how much is really going on at the club. It’s great to see. Professionally done, and for the first time in a long time, gives you confidence in the strategy and decision making behind the scenes. That won’t immediately deliver results on the pitch, but it will start to put in place an infrastructure that just hasn’t been there before, so that when we get the success on the pitch, it may just last.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Berniman on Friday, September 24, 2021, 08:12:01
I think we can put any suggestion to bed that McGreal came here with a dastardly plan to then leave with a payout. I struggle more with the idea that in football, somehow a manager or coach can decide to leave of their own choice, and receive a settlement payment. I never believed Jewell was working for free. I suspect that was just another off the cuff comment from our compulsive liar former owner.


But it is pretty clear now that they weren't getting paid during that period so effectively a breach of contract by the club and a valid claim for a payout..


Title: Re: STFC Advisory Board Meets For The First Time
Post by: horlock07 on Friday, September 24, 2021, 08:27:38
I think we can put any suggestion to bed that McGreal came here with a dastardly plan to then leave with a payout. I struggle more with the idea that in football, somehow a manager or coach can decide to leave of their own choice, and receive a settlement payment.

Yeah I am struggling with that one a bit as well, incredible how many on here if they were on the rock n roll would apparently turn down a job offer.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: The Artist Formerly Known as Audrey on Friday, September 24, 2021, 08:41:58
But if they had stayed until Clem took over and then Clem had told them he had someone else he wanted they would have been paid off no problem or questions asked - they would have been entitled to having their contracts paid up.

Leaving as they did made no sense at all. Now they have to have their claim ruled upon.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Batch on Friday, September 24, 2021, 08:44:58
OK, you can argue they took a job - didn't get paid and walked. That's a fair conclusion. Timing was odd for me but hey, maybe Clem told/they got wiff that their services would no longer be required anyway.

But I do think Power was just the type to put them in to either force a payoff out of Clem, or end up where we are now with a court case.

edit: Sorry Aud, didn't read your post before I posted. Exactly that


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Shrivvy Road on Friday, September 24, 2021, 09:33:59
They were paid when everyone else were paid that is how we got the embargo lifted.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Batch on Friday, September 24, 2021, 10:58:50
Quote from: Shrivvy Road
They were paid when everyone else were paid that is how we got the embargo lifted.

oh, good point


Title: Re: STFC Advisory Board Meets For The First Time
Post by: The Artist Formerly Known as Audrey on Friday, September 24, 2021, 11:02:23
They left before the embargo was lifted. They are just a creditor now.


Title: Re: STFC Advisory Board Meets For The First Time
Post by: Shrivvy Road on Friday, September 24, 2021, 11:34:23
They left before the embargo was lifted. They are just a creditor now.
No they were still due payment and were paid the monthly salary they were entitled to. They are now claiming something else that was agreed as part of the mutual consent agreement between them and the club. That will be what the club are disputing ss it will be heavily weighed in their favour