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« Reply #285 on: Saturday, May 2, 2009, 07:21:19 » |
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So what happens with costs?
The way the Adver story reads, the club will be looking at the Wills for a contribution under the indemnity. Is that correct, that there is no award of costs and each side must foot their own bill?
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jonny72
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« Reply #286 on: Saturday, May 2, 2009, 08:35:36 » |
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Why is everyone holding a love-in with Bill Power?
He lent money to the holding company of a football club that was broke and bordering on bankruptcy. Then he decides he wants his money back, but rather than joining the queue at the insolvent holding company he tries to jump the queue and goes after the football club and the new owners instead - no doubt on the basis that they have loads of cash and can afford it.
He loses the court case and leaves the football club with a new bill for £100k's in the process.
I don't buy that he was tricked or misled either, he lent the holding company money then wanted it back - simple as that. Though he can't be a very good businessman if he thought he would see any of that money ever again, loans to insolvent football clubs aren't generally a good investment.
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jonny72
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« Reply #287 on: Saturday, May 2, 2009, 08:38:44 » |
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One thing I don't get though is where all the debts were when Fitton took over.
Were there debts at the holding company and the football club?
Or was the Power loan the only debt with the holding company?
Did Fitton only take on the debts at the football club?
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pauld
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« Reply #288 on: Saturday, May 2, 2009, 08:52:11 » |
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Why is everyone holding a love-in with Bill Power?
Erm, because if he hadn't stuck a million quid into our football club when he did it would have gone bust. Read the judge's quotes in the Adver article, makes it clear there was no other funding coming in and we wouldn't have lasted that summer without that money (or what was left of it once certain people had finished skimming off the top). And then backed us (all of us, not just the Trust) in a protracted battle to get rid of the poison that was ruining our club. Which led in no small part to the old lot even being prepared to think about selling rather than continuing to try and drip feed in while they waited for Diamandis' mythical pot of redevelopment gold. Without Bill Power, we wouldn't have a club. Simple |
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« Last Edit: Saturday, May 2, 2009, 08:57:13 by pauld »
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Batch
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« Reply #289 on: Saturday, May 2, 2009, 09:02:59 » |
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Yeah but apart from all that what has Bill Power ever done for us  |
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pauld
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« Reply #290 on: Saturday, May 2, 2009, 09:21:40 » |
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Yeah but apart from all that what has Bill Power ever done for us Well, there's the aqueducts |
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Arnold.J.Rimmer
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« Reply #291 on: Saturday, May 2, 2009, 10:22:43 » |
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that spring water at Bath tastes shit. what the fuck was he thinking
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jonny72
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« Reply #292 on: Saturday, May 2, 2009, 11:01:14 » |
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Without Bill Power, we wouldn't have a club. Simple.
OK, I get it now. Power taking the club to court (incurring it court costs and potentially scaring the current investors away) is OK and is still a good guy as he once put a million quid in to the club and saved it from going out of business. Whilst the Wills family are cunts for acting like twats as all they did was put 10 million quid in to the club and kept it going for years. Makes perfect sense. |
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stfctownenda
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« Reply #293 on: Saturday, May 2, 2009, 12:33:24 » |
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OK, I get it now.
Power taking the club to court (incurring it court costs and potentially scaring the current investors away) is OK and is still a good guy as he once put a million quid in to the club and saved it from going out of business. Whilst the Wills family are cunts for acting like twats as all they did was put 10 million quid in to the club and kept it going for years.
Makes perfect sense.
Great post almost as good as Almunia for England that was genius hahaha. Yes of course you can compare Power and Wills, lets not forget Bill involved his evil assistant and charged huge admin expenses off the club for years, tried to sell us to some dodgy foreign agents, stole transfer fees and took us to the brink of destruction oh no wait that was Sir Satan Wills. |
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Power to people
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« Reply #294 on: Saturday, May 2, 2009, 13:55:15 » |
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So what happens with costs?
The way the Adver story reads, the club will be looking at the Wills for a contribution under the indemnity. Is that correct, that there is no award of costs and each side must foot their own bill?
Fitton & Co will be looking for Wills to pay the costs they have incurred under the indemnity that was signed, hopefully Wills will cough up quickly so it does not have a knock on affect, as the club has obviously paid out quite a bit. |
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Phil_S
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« Reply #295 on: Saturday, May 2, 2009, 13:56:27 » |
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OK, I get it now.
Power taking the club to court (incurring it court costs and potentially scaring the current investors away) is OK and is still a good guy as he once put a million quid in to the club and saved it from going out of business. Whilst the Wills family are cunts for acting like twats as all they did was put 10 million quid in to the club and kept it going for years.
Makes perfect sense.
James Wills is a grade A twat |
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jonny72
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« Reply #296 on: Saturday, May 2, 2009, 14:07:58 » |
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James Wills is a grade A twat
Having re-read my post, I'd just clarify that I wasn't trying to make out that the Wills family hadn't acted like twats and damaged the clubs over the years - as they have in many ways. I was just making the point that given they've lost 10 times the money that Power has, I reckon that allows them to act 10 times the twat that Power has. People seem to conveniently ignore the fact that Power took the club to court resulting in the club incurring substantial legal fees and even with the indemnity there is no guarantee the club will see that money again. And where did Power think the money was going to come from if he had won the case? It would have come from the club or the new owners, again with no guarantee that the Wills family would pay up. |
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stfctownenda
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« Reply #297 on: Saturday, May 2, 2009, 14:11:38 » |
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Having re-read my post, I'd just clarify that I wasn't trying to make out that the Wills family hadn't acted like twats and damaged the clubs over the years - as they have in many ways. I was just making the point that given they've lost 10 times the money that Power has, I reckon that allows them to act 10 times the twat that Power has.
People seem to conveniently ignore the fact that Power took the club to court resulting in the club incurring substantial legal fees and even with the indemnity there is no guarantee the club will see that money again. And where did Power think the money was going to come from if he had won the case? It would have come from the club or the new owners, again with no guarantee that the Wills family would pay up.
Where is the evidence they put in the amounts you are suggesting? |
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mexico red
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« Reply #298 on: Saturday, May 2, 2009, 14:13:31 » |
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and if they did how much interest did they charge on it?
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jonny72
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« Reply #299 on: Saturday, May 2, 2009, 15:13:56 » |
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Where is the evidence they put in the amounts you are suggesting?
My evidence comes from Judge Gavin Kealey QC, in his ruling on the case he stated the Wills family had supported the club to the tune of £14 million over the years. No matter how much interest and other benefits they got, they have put a shit load of cash in to the club over the years which they aren't going to see again and deserve a bit of respect and leeway as a result. http://thetownend.com/index.php/topic,34150.0.html |
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