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Author Topic: STFC Advisory Board Meets For The First Time  (Read 3348 times)
Shrivvy Road

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« on: Wednesday, September 22, 2021, 12:31:35 »

Sometimes some things deserve a new thread  Cheesy

https://www.swindontownfc.co.uk/news/2021/september/stfc-advisory-board-meets-for-the-first-time/
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Bob's Orange

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« Reply #1 on: Wednesday, September 22, 2021, 12:33:11 »

removed from the new beginnings thread and posted here instead -

These seem fairly interesting points from the advisory board minutes -

EP covered the current position on the debentures that are held which may have been passed to Lee Power from Andrew Black and Sir Martyn Arbib. It is not understood whether
the debentures have actually passed hands. It is expected that the triggers for the debentures have not yet been met. EP continues to assess the situation but (subject to seeing all the
relevant documents (which have not been available so far) is confident on the ability for the Club to defend debenture claims.

EP noted a number of legal disputes that he was working on for the Club. These included on a historic catering contract, a loan from Able that had been discovered which is
contrary to court evidence. Also there are contractual termination payment claims from McGreal, Gilmartin and Curran, as well as payment claims from Jewell, EP is defending the Club
strongly.

RA and CM noted that the number of creditors had reduced significantly from the c£4m known inherited position. Repayment plans have been agreed with HMRC, SBC, Puma
and the EFL. It was noted that SBC have sought a County Court Judgement (CCJ) to protect their claims, which gives rise to interest ad costs to the Club but relations are positive and
repayment plans for outstanding rent as well as current rent are being made on time. It was agreed that RA will continue to ask SBC to ‘satisfy’ the CCJ given the repayment plans. It was noted
that the CCJ severely impacts the credit worthiness of the Club. Action – RA to contact SBC to assess ability to ‘satisfy’ CCJ

EP = Eddie Parladorio who is a lawyer on the board.

Quaggy - Taylor Curran still has a nerve!! Also what is this £100k loan from 'Able' all about? That sounds like fake news if ever I heard it.
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SuggWillSugg MBE

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« Reply #2 on: Wednesday, September 22, 2021, 12:34:01 »

The way the minutes read, they are hoping to get the CG purchase wrapped up by December even though the council want a new valuation completed. I admire the optimism, but this seems a tad too optimistic? Unless December is just the date to get that new valuation completed.
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« Reply #3 on: Wednesday, September 22, 2021, 12:34:33 »

interesting.

mute information there than we've had for a very very long time

Able loan . hmmm
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Bob's Orange

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« Reply #4 on: Wednesday, September 22, 2021, 12:35:13 »

The way the minutes read, they are hoping to get the CG purchase wrapped up by December even though the council want a new valuation completed. I admire the optimism, but this seems a tad too optimistic? Unless December is just the date to get that new valuation completed.

It does state Target Date at risk. I assume that date will have to be pushed forward in one of the next meetings?
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« Reply #5 on: Wednesday, September 22, 2021, 12:37:51 »

Four and a half hours! I hope there were biscuits at least.
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The Artist Formerly Known as Audrey

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« Reply #6 on: Wednesday, September 22, 2021, 12:39:37 »

That Eddie Parldorio is a big hitter. Handled the legals for the BHS sale a few years back.
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TheDukeOfBanbury

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« Reply #7 on: Wednesday, September 22, 2021, 12:43:36 »

That Eddie Parldorio is a big hitter. Handled the legals for the BHS sale a few years back.

As said in a previous post we have an exceptionally decent lawyer.
In addition knows what has gone on and from the murky World of football has evidence.
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Bob's Orange

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« Reply #8 on: Wednesday, September 22, 2021, 12:44:47 »

"Axis invested c£1m in loans to date to enable payment of salaries, pensions (inc back payments), creditors and starting to back pay creditors"

It doesn't say anywhere at what interest rate these loans were provided at. (that I can see) Given Clem's open and honest agenda it would be good to know.
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« Reply #9 on: Wednesday, September 22, 2021, 12:47:16 »

fair comment
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« Reply #10 on: Wednesday, September 22, 2021, 12:47:53 »

That Eddie Parldorio is a big hitter. Handled the legals for the BHS sale a few years back.

As in BHS the shop? Fuck I would not be holding that sale up as good practice?
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« Reply #11 on: Wednesday, September 22, 2021, 12:49:34 »

"Axis invested c£1m in loans to date to enable payment of salaries, pensions (inc back payments), creditors and starting to back pay creditors"

It doesn't say anywhere at what interest rate these loans were provided at. (that I can see) Given Clem's open and honest agenda it would be good to know.


Likewise and again its a small matter, but it would be handy to have some clarification as to why Lee Power is still a Director of STFC Ltd, only flagged up as I note froma a notification from CH today that further tidying of the STFC Ltd submissions to CH has been undertaken.
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Bob's Orange

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« Reply #12 on: Wednesday, September 22, 2021, 12:53:44 »

Likewise and again its a small matter, but it would be handy to have some clarification as to why Lee Power is still a Director of STFC Ltd, only flagged up as I note froma a notification from CH today that further tidying of the STFC Ltd submissions to CH has been undertaken.

Potentially very minor and innocent things in the grand scheme of things, but as I think it's important certain things are questioned as we transition ownership.
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« Reply #13 on: Wednesday, September 22, 2021, 13:10:18 »

Currans got a claim in? For what?
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The Artist Formerly Known as Audrey

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« Reply #14 on: Wednesday, September 22, 2021, 13:10:54 »

As in BHS the shop? Fuck I would not be holding that sale up as good practice?
Try and work it out for yourself if you can be arsed!

https://www.parliament.uk/globalassets/documents/commons-committees/work-and-pensions/Correspondence/From-Edward-Parladorio-14-07-2016.pdf
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