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Author Topic: Lee Power  (Read 525978 times)
Ginginho

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« Reply #1635 on: Friday, June 25, 2021, 09:38:52 »

The fact that the trust are keeping quiet leads me to think that they know something will happen today.


Let’s hope today really is the end of power

Only the true Messiah would deny being the Messiah!
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Quagmire

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« Reply #1636 on: Friday, June 25, 2021, 09:42:50 »

After having a very quick read of the judgment - it’s pretty much everything we knew from last weeks case but now officially on paper.
Haven’t seen anything new - but as a I said, it was a very quick read.
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Flashheart

« Reply #1637 on: Friday, June 25, 2021, 09:44:02 »

After having a very quick read of the judgment - it’s pretty much everything we knew from last weeks case but now officially on paper.
Haven’t seen anything new - but as a I said, it was a very quick read.

So we've gotten all excited for no reason?

But there does still seem to be a lot of movements happening
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horlock07

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« Reply #1638 on: Friday, June 25, 2021, 09:46:49 »

The rearranging the deckchairs with Anderson suggests something is going on.
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Batch
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« Reply #1639 on: Friday, June 25, 2021, 09:48:26 »

So we've gotten all excited for no reason?

But there does still seem to be a lot of movements happening

I don't know if the two are linked in that the timing of judgement being formalised may be coincidental.

However the content of the judgement is the thing. Power must sell Clem the shares unless he thinks he can successfully appeal it, or use the share transfer rescindment to successfully argue he doesn't have to.

But without overturning the judgement, he can't sell the shares without offering the to Clem first.

He may just feel he's out of options.
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jevs

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« Reply #1640 on: Friday, June 25, 2021, 09:51:25 »

The rearranging the deckchairs with Anderson suggests something is going on.


There are claims on Twitter that McGreal has resigned as Morfuni told him his job was not safe. Seems doubtful if he'd be writing off a pay off, but who knows the terms on which he was employed. If there is any truth in it, you assume that they'd only be in contact if there is about to be a change of ownership.
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Quagmire

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« Reply #1641 on: Friday, June 25, 2021, 09:51:35 »

So we've gotten all excited for no reason?

But there does still seem to be a lot of movements happening

Seems that way.
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Flashheart

« Reply #1642 on: Friday, June 25, 2021, 09:53:45 »

Seems that way.

It'd be so TEF-like for us to get worked up in a lather of excitement only for it to turn out to be a damp squib.
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Quagmire

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« Reply #1643 on: Friday, June 25, 2021, 09:56:11 »

If McGreal has gone, he was only 8 wins behind Sheridan.
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horlock07

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« Reply #1644 on: Friday, June 25, 2021, 09:57:56 »

Noting the below from the summary of the other day...

Power says he made a mistake and has tried to revoke the Transfer Notice.   Axis says it is too late as it has agreed to buy his shares, there is nothing left to revoke, and Power must transfer his shares to Axis now.  

In any event, only the directors of Swinton can revoke the notice.  The directors are Power, Steve Anderson and Clem Morfuni.  Power arranged a board meeting on 11 June to decide whether the Transfer Notice should be revoked.    It appears that the directors voted 2-1 to revoke the Transfer Notice

Axis says Power has a conflict of interest and wasn’t entitled to vote anyway so the real score is 1-1 and the notice hasn’t been revoked (but it doesn’t matter as it is too late anyway).

Unless Power appoints another director to the Swinton board, now Anderson has gone its just Clem and Power so any vote would be 1-1 (and both potentially have a conflict of interest).
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horlock07

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« Reply #1645 on: Friday, June 25, 2021, 10:05:19 »

Judgement here if anyone wants it....

https://www.bailii.org/cgi-bin/format.cgi?doc=/ew/cases/EWHC/Ch/2021/1744.html&query=(PT-2019-000964)
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The Artist Formerly Known as Audrey

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« Reply #1646 on: Friday, June 25, 2021, 10:14:45 »

I thought McGreal was threatening to resign if all the bollocks wasn’t sorted out soon.

There’s no reason for him to resign and would be stupid to do so.
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Quagmire

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« Reply #1647 on: Friday, June 25, 2021, 10:16:32 »

I thought McGreal was threatening to resign if all the bollocks wasn’t sorted out soon.

There’s no reason for him to resign and would be stupid to do so.

You’d assume he’s spoken to Clem and they’ve not got the same ideas.
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4D
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« Reply #1648 on: Friday, June 25, 2021, 10:17:52 »

Wasn't McGreal appointed by Power? My assumption is if ownership is changing perhaps the new owner has other plans? Who knows?
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Quagmire

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« Reply #1649 on: Friday, June 25, 2021, 10:18:50 »

This is peak Swindon Town and I love it.
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