Takeover ???

tomytony said:
Depends on who your 'financial adviser' is.
Don't get too involved and let him live rent free in your head though
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Rent free but not debt free then?
Mind you solicitors are even worse than FA’s. We’ve just updated out wills nothing major just addresses etc. 10 minutes in the office = £307 and they’d still made a mistake when we checked. Talk about money for old rope!
 
Chips1889 said:
So increasing the shares he already owned wasn't clearing the debts?
Check again FKB.
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Nope. He had lent the club a lot of money, the club agreed (well, he agreed..) to take payment in shares, so he ended up with shares which are in a different place on the balance sheet. The loans disappeared, but the value of them transferred into share capital. So the question I suppose is which debt do they represent.? Short terms debt, long term debt, Directors loans, Shareholders liabilities..? In my view he traded his director loans for shares. That means he still had something of value, a larger stake in the club, but the club were not obligated to pay him back as short-term creditor with interest. I'm not going round and round this. I've got a strong sense of deja vu...
 
Grayblade said:
Rent free but not debt free then?
Mind you solicitors are even worse than FA’s. We’ve just updated out wills nothing major just addresses etc. 10 minutes in the office = £307 and they’d still made a mistake when we checked. Talk about money for old rope!
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That's extortion!
Just reading the STimes and, apparently March is free wills month when charities try to get you to bequeath some money to them. Participating solicitors will update or create a new will for you for nothing!!
 
tomytony said:
That's extortion!
Just reading the STimes and, apparently March is free wills month when charities try to get you to bequeath some money to them. Participating solicitors will update or create a new will for you for nothing!!
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I’m a subscriber to Which? Mag and I could have got their solicitors to update it for half that price but you know what wummin are like. Want the solicitors to be close by ready for action. :LOL: I’ve got my car insurance to sort out next. I want to know why I go from driving a big Jag to a little Honda and yet my insurance has gone up 150% in 12 months despite me having no claims protection?
 
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Insurance companies? Deffo a license to print money. Had a spat with Aviva last year, probs with leak in the bathroom, seeping up the wall. Was like knitting fog comunicating with them, sent pics of damage etc. Eventually two young lads turned up with a new fangled leak detector, like rwo bits of wire on an an old transister radio? They disappeared into the bathroom for half an hour and biggest laff you could hear what they were saying all around the gaff, lord mayoring, the lot. They f..ked off to deliver their report to HQ. Apparantly nothing found so big KB.
Result:- Lashed out 7k for new bathroom, old one fitted only 8 years ago by obviously Bodgit & Scarper! When stripped out, behind all the fancy cladding, resembled the old Glossop Road Baths, so much for the water detector!
Stopped the Missis watching them property progs on the gogglebox! No bathroom? Not a prob for me, Had plenty of experience having a shave, body wash then mashing a brew in a full mug of water out in the freezing cold
 
FatherKnowsBest said:
Nope. He had lent the club a lot of money, the club agreed (well, he agreed..) to take payment in shares, so he ended up with shares which are in a different place on the balance sheet. The loans disappeared, but the value of them transferred into share capital. So the question I suppose is which debt do they represent.? Short terms debt, long term debt, Directors loans, Shareholders liabilities..? In my view he traded his director loans for shares. That means he still had something of value, a larger stake in the club, but the club were not obligated to pay him back as short-term creditor with interest. I'm not going round and round this. I've got a strong sense of deja vu...
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But he owned all the shares anyway.......he cleared the debts FKB.
 
A lot if talk about the Pork right now, but I wonder how close we are to new ownership again? I’ve heard a few comments saying it’s closer than we think over the last week. I really hope it isn’t a case of the Yanks rushing out of the back door and IF true we get somebody who know what they’re doing and have the means to do it. 🤞
 
Grayblade said:
A lot if talk about the Pork right now, but I wonder how close we are to new ownership again? I’ve heard a few comments saying it’s closer than we think over the last week. I really hope it isn’t a case of the Yanks rushing out of the back door and IF true we get somebody who know what they’re doing and have the means to do it. 🤞
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Knowin our luck we'd get Chanceri.:eek::giggle:UTB
 
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