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Author Topic: New beginnings - 25% Truth, 80% Bollocks  (Read 1122486 times)
Shrivvy Road

« Reply #2010 on: Tuesday, August 2, 2022, 15:46:46 »

Do the club have to pick up the remaining 25%? It probably won't be a huge sum of money but given he's a hot shot lawyer aren't EP's fees going to be a fair amount given all these bloody court cases which are just dragging on and on?
Nah fuck it the club should be spending whatever they can on bills and wages because we get 10k a week
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Bob's Orange
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« Reply #2011 on: Tuesday, August 2, 2022, 16:00:24 »

Nah fuck it the club should be spending whatever they can on bills and wages because we get 10k a week

I was going to pick up on that earlier today but couldn't be bothered getting into it. Without going all 'we're lucky to have a club blah blah' I listened to the Clem and Rob interview on the Tom Broadbent thingy and Rob explained that there is about 10 years of mismanagement of the club that they have to sort out and these bloody winding up claims are just a further time and money distraction that we really want to put behind us.

We also don't get 10k a week, we don't play at home every week you silly goose Smiley
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RobertT

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« Reply #2012 on: Tuesday, August 2, 2022, 16:55:44 »

I would hazard a guess that there is in fact over 30 years of mis-management.  Financially speaking, there was a significant reset on the sale by Black - most of the historical debt was written off at that point.

The club should absolutely be testing each of the debts handed to it by Power through the Courts if necessary.  It would be financial suicide to just pay everything claimed.  The flip to that is that we can't just get out of paying debts because Power was running the shop.  Hopefully enough of this is simply people trying it on though, like Able seems to have been.
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JBZ
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« Reply #2013 on: Tuesday, August 2, 2022, 17:15:30 »

Payment should perhaps be made when the legal and commercial merits strongly suggest that it should be.
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Batch
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« Reply #2014 on: Tuesday, August 2, 2022, 17:39:38 »

Do the club have to pick up the remaining 25%? It probably won't be a huge sum of money but given he's a hot shot lawyer aren't EP's fees going to be a fair amount given all these bloody court cases which are just dragging on and on?

Yup.

I'm sure JBZ can confirm, but that's pretty normal when costs are awarded.

I did learn that from the wagatha body Christie news wankathon mind
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tans
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« Reply #2015 on: Tuesday, August 2, 2022, 21:06:31 »



I did learn that from the wagatha body Christie news wankathon mind

Speaking of that, how fucking thick is Rebecca Vardy.
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« Reply #2016 on: Tuesday, August 2, 2022, 21:19:47 »

Do the club have to pick up the remaining 25%? It probably won't be a huge sum of money but given he's a hot shot lawyer aren't EP's fees going to be a fair amount given all these bloody court cases which are just dragging on and on?

I’m guessing here. Solicitor £250-300 per hr, Lawyer £500-750 per hr, Barrister easily £1k per hour +.
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JBZ
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« Reply #2017 on: Tuesday, August 2, 2022, 21:39:06 »

I’m guessing here. Solicitor £250-300 per hr, Lawyer £500-750 per hr, Barrister easily £1k per hour +.

There won't have been a third layer of legal professional in between the solicitor with conduct of the matter and counsel.

Solicitors' hourly rates usually depend on seniority and location (hourly rates are higher in London than they are in Trowbridge for example).

The solicitor is probably on an hourly rate around £500 per hour plus VAT.  A global fee is usually agreed with counsel for discrete pieces of work and attendances at hearings.
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Bob's Orange
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« Reply #2018 on: Wednesday, August 3, 2022, 08:23:33 »

https://www.swindonadvertiser.co.uk/news/20595713.swindon-town-winding-up-petition-details-emerge-second-debt/

So this centreplate crowd are asking for 312,000 from us and are trying to substitute themselves into the winding-up petition. We have 10 days to submit our reasons as to why that shouldn't happen.
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Jimmy HaveHave

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« Reply #2019 on: Wednesday, August 3, 2022, 08:30:52 »

No mention of what the outstanding debt is for😀
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« Reply #2020 on: Wednesday, August 3, 2022, 08:42:30 »

No mention of what the outstanding debt is for😀

Well, they're the catering/events supplier (or were up until this summer) so it'll be something along the lines of that.

I suspect that there will be some level of dispute around the 18 months or so of various Covid restrictions where there would have been very low level of use of any of the facilities and who bears the "loss" of that. The fact that it suggests around £300k of the £316k claimed is disputed suggests we're not just talking a few bar tabs here and there.
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« Reply #2021 on: Wednesday, August 3, 2022, 08:48:27 »

Well, they're the catering/events supplier (or were up until this summer) so it'll be something along the lines of that.

I suspect that there will be some level of dispute around the 18 months or so of various Covid restrictions where there would have been very low level of use of any of the facilities and who bears the "loss" of that. The fact that it suggests around £300k of the £316k claimed is disputed suggests we're not just talking a few bar tabs here and there.

Cheers Nemo
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Bob's Orange
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« Reply #2022 on: Wednesday, August 3, 2022, 08:49:00 »

Well, they're the catering/events supplier (or were up until this summer) so it'll be something along the lines of that.

I suspect that there will be some level of dispute around the 18 months or so of various Covid restrictions where there would have been very low level of use of any of the facilities and who bears the "loss" of that. The fact that it suggests around £300k of the £316k claimed is disputed suggests we're not just talking a few bar tabs here and there.

Was that the 10 year catering contract that was signed under Jed and we managed to get out of?
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Peter Venkman
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« Reply #2023 on: Wednesday, August 3, 2022, 08:53:40 »

Was that the 10 year catering contract that was signed under Jed and we managed to get out of?
I understand it is exactly that.
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« Reply #2024 on: Wednesday, August 3, 2022, 08:53:55 »

Was that the 10 year catering contract that was signed under Jed and we managed to get out of?

Yep, that's the one. An enduring gift from the stench that was Jed.

I'm really reassured to have a proper business head as CEO at last, and a thorough lancing of all these boils. They all need to be worked through, and most of them vigorously contested as the mismanagement of previous regimes is exposed, but within another year or so, we should be free of them and be able to focus on future development.

That's quite something at our club. Almost a first in my time supporting it.
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