Bill Power&Phil Emmell

[ghanimah]

Gazza: if BP is owed money he's entitled to it back no matter who's in charge.

[Sippo]

Some people are so fickle. Bill tried his damn hardest to save our club. He wants his money back that is all.

[STFC_Gazzza]

Gazza: if BP is owed money he's entitled to it back no matter who's in charge, and I believe it did come up during due diligence it was one of the issues that was holding up the deal and led to it nearly collapsing thus our club

but SURELY... It would have been established in black and white WHO had to pay the money. If Fitton accepted that the club may owe the moeny surely he wouldn't be complaining now. He would be getting on with it and negotiating?

Same with say BEST holdings etc... If those guys are owed money from the time they were at the club then surly Fitton should have just paid it?  Same with Ince etc. etc.

[Simon Pieman]

Let's have a protest!

[Fred Elliot]

Well Done B.P. Like every other cunt.


"Wouldn't harm the club" "Swindon Town fan" Bollocks.

Fuck me you have changed your tune !!!!!!!

Anyone who thinks that AF and Co wern't aware of this, nor expecting it is naive to say the least.

Fuck me what would you do ?

[STFC_Gazzza]

well I guess for 2 months we didn't have any of this crap....  

[ghanimah]

Gazza: if BP is owed money he's entitled to it back no matter who's in charge, and I believe it did come up during due diligence it was one of the issues that was holding up the deal and led to it nearly collapsing thus our club

but SURELY... It would have been established in black and white WHO had to pay the money. If Fitton accepted that the club may owe the moeny surely he wouldn't be complaining now. He would be getting on with it and negotiating?

Sorry the point I should have made was that establishing whether it's shares or a loan would have taken too long and you would need to sort that out first before deciding who had to pay it back

[STFC_Gazzza]

Gazza: if BP is owed money he's entitled to it back no matter who's in charge, and I believe it did come up during due diligence it was one of the issues that was holding up the deal and led to it nearly collapsing thus our club

but SURELY... It would have been established in black and white WHO had to pay the money. If Fitton accepted that the club may owe the moeny surely he wouldn't be complaining now. He would be getting on with it and negotiating?

Sorry the point I should have made was that establishing whether it's shares or a loan would have taken too long and you would need to sort that out first before deciding who had to pay it back

Given the debate and Mike D's past though, it should have been stated that "if it is found to be a loan, YOU have to pay it not us" and have that written and agreed.

[pauld]

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.

Which is precisely why Fitton got an indemnity from the Wills family during due diligence. Meaning if the case ever got turned against the club, the Wills family would be liable. And as it is James Wills who four weeks ago put the Holding Co into administration, a standard debt avoidance technique, that was always going to put the club into the firing line legally. Fortunately, as you'd have seen if you'd read the story properly, Fitton DID have the good sense to get an indemnity, thereby sheltering the club from the financial consequences.

If you're looking for someone to blame here, blame the people who continue to be at fault.

[Fred Elliot]

Gazza: if BP is owed money he's entitled to it back no matter who's in charge, and I believe it did come up during due diligence it was one of the issues that was holding up the deal and led to it nearly collapsing thus our club

but SURELY... It would have been established in black and white WHO had to pay the money. If Fitton accepted that the club may owe the moeny surely he wouldn't be complaining now. He would be getting on with it and negotiating?

Same with say BEST holdings etc... If those guys are owed money from the time they were at the club then surly Fitton should have just paid it?  Same with Ince etc. etc.

Fucking hell Gary

If AF and Co were not worried about this happening then why indemnify themselves ?

You really need to engage your brain sometimes before spouting yet more shit

[pauld]

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

Hopefully my reply to Gazza clarifies some of the issues. There's one really easy way to sort this out of course - James Wills and Diamandis could just pay what they owe instead of hiding behind Andronikou's skirts again

[Luci]

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.

Which is precisely why Fitton got an indemnity from the Wills family during due diligence. Meaning if the case ever got turned against the club, the Wills family would be liable. And as it is James Wills who four weeks ago put the Holding Co into administration, a standard debt avoidance technique, that was always going to put the club into the firing line legally. Fortunately, as you'd have seen if you'd read the story properly, Fitton DID have the good sense to get an indemnity, thereby sheltering the club from the financial consequences.

If you're looking for someone to blame here, blame the people who continue to be at fault.

Thank God for your post Paul.  I am one of the people who doesn't really know how it all works but that clarifies things somewhat.

[stfctownenda]

Gazza: if BP is owed money he's entitled to it back no matter who's in charge, and I believe it did come up during due diligence it was one of the issues that was holding up the deal and led to it nearly collapsing thus our club

but SURELY... It would have been established in black and white WHO had to pay the money. If Fitton accepted that the club may owe the moeny surely he wouldn't be complaining now. He would be getting on with it and negotiating?

Sorry the point I should have made was that establishing whether it's shares or a loan would have taken too long and you would need to sort that out first before deciding who had to pay it back

Given the debate and Mike D's past though, it should have been stated that "if it is found to be a loan, YOU have to pay it not us" and have that written and agreed.

I think if you read the article and quotes from Fitton he is implying that the previous regime would have to pay some of it to them.

[pauld]

Gazza: if BP is owed money he's entitled to it back no matter who's in charge, and I believe it did come up during due diligence it was one of the issues that was holding up the deal and led to it nearly collapsing thus our club

but SURELY... It would have been established in black and white WHO had to pay the money. If Fitton accepted that the club may owe the moeny surely he wouldn't be complaining now. He would be getting on with it and negotiating?

Sorry the point I should have made was that establishing whether it's shares or a loan would have taken too long and you would need to sort that out first before deciding who had to pay it back

Given the debate and Mike D's past though, it should have been stated that "if it is found to be a loan, YOU have to pay it not us" and have that written and agreed.

I think if you read the article and quotes from Fitton he is implying that the previous regime would have to pay some of it to them.

Precisely, the club have an indemnity against precisely this eventuality. I suspect the "partial" aspect relates to legal bills incurred rather than any judgement/damages awarded which would be down to the previous owners. Well done AF for having the sense to recognise the worth of  Diamandis' "Don't worry, it's all being sorted out" promises and get an indemnity built in to the takeover.

[Samdy Gray]

Reading the article again, I think Fitton is more bothered about the time it'll take and the legal costs rather than the threat of having to pay out £1.2 million.