D*rby to be relegated? | Page 274 | Vital Football

D*rby to be relegated?

Basha73 said:
They didn’t, genius. They bought the ground which paid off the charge which was registered against the asset. That is how Charging Orders work.

It is exactly the same as when you buy a house from someone. If the seller has a mortgage it means they have a charge against their property. When the funds transfer from the buyer’s solicitors to the sellers, the first thing they do is pay off any charges.

So in this instance Mel owned the ground. MSD had a charge against the ground for around £23m to cover the loans that Mel had guaranteed.

Clowes bought the Stadium and that paid off MSD. No other debt has been touched or transferred so you are talking bollocks again.

But then what do I know, I have only worked with Charging Orders and Properties for 15 years…
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You can look for a new owner until the Clowes come home.
 
So the sheep twats are now madly dreaming about their new manager, forgetting about the fact they’re broke and don’t have an owner. They even think they will be in a position to pay compensation for the right guy and think Hughton or Jody Morris could be the right man. You’d think they’d have had enough of people called Morris, however John Terry thinks they’re a great club and is desperate to manage them. This is going to be fun…….
 
I am guessing that Rooney doesn’t think he will have a decent squad to play with and the expectations of the fans will still be to get promoted.

I would also guess that he will be at another Championship club before long. At which point we will see what he is really like…
 
ArchieWahWah said:
So the sheep twats are now madly dreaming about their new manager, forgetting about the fact they’re broke and don’t have an owner. They even think they will be in a position to pay compensation for the right guy and think Hughton or Jody Morris could be the right man. You’d think they’d have had enough of people called Morris, however John Terry thinks they’re a great club and is desperate to manage them. This is going to be fun…….
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Please let it be Terry.
 
Basha73 said:
They didn’t, genius. They bought the ground which paid off the charge which was registered against the asset. That is how Charging Orders work.

It is exactly the same as when you buy a house from someone. If the seller has a mortgage it means they have a charge against their property. When the funds transfer from the buyer’s solicitors to the sellers, the first thing they do is pay off any charges.

So in this instance Mel owned the ground. MSD had a charge against the ground for around £23m to cover the loans that Mel had guaranteed.

Clowes bought the Stadium and that paid off MSD. No other debt has been touched or transferred so you are talking bollocks again.

But then what do I know, I have only worked with Charging Orders and Properties for 15 years…
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Yes but he bought the company that owns the ground. Its perfectly possible the debt was to the company and therefore the MSD loan has not been repaid. In that case he could have bought the company for a nominal sum.
Obviously the company still has to keep to the terms of the loan and the interest etc
 
Offsidered said:
Yes but he bought the company that owns the ground. Its perfectly possible the debt was to the company and therefore the MSD loan has not been repaid. In that case he could have bought the company for a nominal sum.
Obviously the company still has to keep to the terms of the loan and the interest etc
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Which is what I said next post down but nobody knows as yet. If you look at the quotes they vacillate between ‘bought the ground’ and ‘bought the company’.

You also have to remember that if the company is just a holding company and therefore not active, then the Charge Holder is within their rights to stop it from transferring without them being paid. It’s not difficult to do.
 
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