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Don Rogers Shop
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« on: Thursday, April 24, 2008, 07:38:33 » |
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Sippo
Living in the 80s
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Posts: 15614
I ain't gettin on no plane fool
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« Reply #1 on: Thursday, April 24, 2008, 07:44:09 » |
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They're trying to claim back money they are owed. Whats wrong with that? If it was the previous regime in charge I'm sure your reaction would be different.
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If my calculations are correct, when this baby hits 88 miles per hour, you're gonna see some serious shit...
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fatbury
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« Reply #2 on: Thursday, April 24, 2008, 07:44:37 » |
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Its an interesting one this .. not as clear cut as you would think and as one who has always respected Bill Power's stance it suprises me
Id like to hear PaulD's take on it
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stfctownenda
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« Reply #3 on: Thursday, April 24, 2008, 07:45:30 » |
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Bit of an extreme response DRS :shock: I see no problem in Power and Emmell getting there money back with Fitton and that getting reimbursed from the Wills and there crooked advisor. End of the day they got mugged from the old board so are just trying to get there money back.
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Don Rogers Shop
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« Reply #4 on: Thursday, April 24, 2008, 07:47:06 » |
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They're trying to claim back money they are owed. Whats wrong with that? If it was the previous regime in charge I'm sure your reaction would be different. Bollocks Sippo, Emell has said he would not target the club.It was bad business all round and power was stupid not to get anything signed.Just because the company he has openly admitted giving the money to have gone into adminastration they are targeting the club. |
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Samdy Gray
Dirty sneaky traitor weasel
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« Reply #5 on: Thursday, April 24, 2008, 07:54:56 » |
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Surely if the loan was made to the old holding company, then because that doesn't exist any longer, the directors of that holding company are liable?
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Ardiles
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Posts: 11588
Stirlingshire Reds
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« Reply #6 on: Thursday, April 24, 2008, 07:57:32 » |
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They're trying to claim back money they are owed. Whats wrong with that? If it was the previous regime in charge I'm sure your reaction would be different. Bollocks Sippo, Emell has said he would not target the club.It was bad business all round and power was stupid not to get anything signed.Just because the company he has openly admitted giving the money to have gone into adminastration they are targeting the club. I usually try to moderate my own language on these forums, but that's complete wank. If Power and Emmell are owed money, they are owed money. End of story. There is no 'targeting' of anything. One of the reasons the sale to Fitton & Co took as long as it did was precisely because they knew that Diamandis was not to be trusted and that they had to indemnify themselves to the greatest possible extent in case anything like this was to happen. If the law decides that Power and Emmell should get their money back, then they should get it. The club should pay, and the new owners should use the indemnities signed at the time of the purchase to claim the portion allowed by the indemnities back from the previous regime. And then, just maybe, we can move on - and never have to hear the expletive 'Diamandis' ever again. |
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Don Rogers Shop
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« Reply #7 on: Thursday, April 24, 2008, 08:03:33 » |
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Don’t tone it down on my behalf Ardiles.As Sam has said surely they are trying to get the money off the wrong people?
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Sippo
Living in the 80s
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Posts: 15614
I ain't gettin on no plane fool
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« Reply #8 on: Thursday, April 24, 2008, 08:06:11 » |
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They're owed money. End of. They're entitled to claim it back.
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If my calculations are correct, when this baby hits 88 miles per hour, you're gonna see some serious shit...
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Don Rogers Shop
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« Reply #9 on: Thursday, April 24, 2008, 08:08:18 » |
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Yes but who from Sippo
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ghanimah
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« Reply #10 on: Thursday, April 24, 2008, 08:08:55 » |
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Surely if the loan was made to the old holding company, then because that doesn't exist any longer, the directors of that holding company are liable? Limited liability, Directors are only personally liable if they trade knowingly insolvent (and I'm not sure what the position is here, as SSW was effectively underwriting them) otherwise the case is against the company whether it exists or not. |
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"We perform the duties of freemen; we must have the privileges of freemen ..."
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dell boy
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« Reply #11 on: Thursday, April 24, 2008, 08:10:36 » |
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Here we go again ... I'm going to keep out of this debate this time around!!!!
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Ardiles
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Stirlingshire Reds
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« Reply #12 on: Thursday, April 24, 2008, 08:10:32 » |
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Yes - but the mechanism they will need to use involves going via the club, with the club (ie new owners) using the indemnities to claim back from the previous owners. That's the way the law works, unfortunately. Bill Power & Phil Emmell have never entered in to a legal relationship with Diamandis or the Wills family as individuals.
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Sippo
Living in the 80s
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Posts: 15614
I ain't gettin on no plane fool
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« Reply #13 on: Thursday, April 24, 2008, 08:12:42 » |
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Yes - but the mechanism they will need to use involves going via the club, with the club (ie new owners) using the indemnities to claim back from the previous owners. That's the way the law works, unfortunately. Bill Power & Phil Emmell have never entered in to a legal relationship with Diamandis or the Wills family as individuals. Spot on. can you really blame Bill and Phil for wanting their money back? |
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If my calculations are correct, when this baby hits 88 miles per hour, you're gonna see some serious shit...
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STFC_Gazzza
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« Reply #14 on: Thursday, April 24, 2008, 08:15:07 » |
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Well Done B.P. Like every other cunt. They see we have money and come after the current board now to get money back owed by the previous regime, Surely with this saga going on during takeover talks, it would have been established WHO was responsible during due dilligence. If not, then Fitton is a mug and to be honest I don't think he is.
"Wouldn't harm the club" "Swindon Town fan" Bollocks.
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