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The Takeover Thread - Duchatelet Finally Sells (Jan 2020)
Comments
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Yes, or perhaps LDT contacted them afterwards.Bedsaddick said:
So when some of the directors come out and say they have had no contact with RD they mean that literally. LDT represents RD so to say they haven’t heard from him is not strictly true.Covered End said:
LDT has made contact with all the ex-directors. It has to be done via the seller's side or the broker if LDT is desribed as such.Bedsaddick said:JamesSeed said:
I didn’t say the Aussies aren’tRedmidland said:@JamesSeed thanks for the info given so far. However I have a question, if RD isn't paying off the loans and the Aussies arn't, we surely have an impasse and any deal will be off? Unless I'm missing something!
So are the Aussies in contact with the former directors to do a deal?1 -
Could it be that the the ex directors want assurances about the future of the club before considering taking a haircut ? The Valley and Sparrows ?0
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So the Aussies have asked Douchebag to ask the ex-directors to take a haircut on the monies owed to them? Mmm,doesnt bode well does it🙄1
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They haven’t offered them a so-called ‘haircut’.Red_in_SE8 said:So it is the Aussies who are trying to screw the ex directors?
Let’s leave it for them to sort out folks. Things are ongoing, and probably changing hour by hour, so hard to comment further. @Bedsaddick10 -
CAFCWill I haven't looked at the title, it costs £3 at land registry and you need the SY number of the land. But as separate legal entities the 7 directors will have 7 charges, one each. In theory they could buy off ones that will take a haircut and leave the ones who want full repayment, but that doesn't give clear title. However not sure why they'd need clean title as they can borrow using the Valley as an asset anyway, just as you can have a second mortgage with a different lender. The difficulty might be that in a bankruptcy scenario, the seven need paying off first, and a future lender might not like that, but that would be stupid as you would want your loans servicing by some other means than winding the company up..1
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I nearly LoL this but I meant a direct quote from an official of the Australian consortium. Not just working it out on the law of deduction. Three main players in this loans saga, Duchatelet, Consortium and the Ex directors.Fumbluff said:soapboxsam said:Covered End said:
I'm not 100% certain.cafcwill said:Apoligies if this has been asked and answered before, but just for clairification
Do all of the directors have to be paid off in order for the sale to be completed or can the 3 be kept on for the prospective new owners to sort out?
I.E. Roland has paid off the £4 Million of the & £7 million and made deals with these 4 (?) directors, leaving the other 3 with charges on the title still. This will be seen as a reduction of cost from the Aussies side (if they want the clean title, which it seems they do)
OR
Do all 7 have to be paid off in order for the charge to be removed? (what i think i mean is the charges 1 single Charge or 7 individual charges )?
(i think i have made sense there, apoligies if i haven't)
However, the sale can go through with the ex-director loans remaining, as they have done in the previous 2 sales.
The Aussies want all the loans repaid, so it doesn't matter whether or not there are 7 individual charges.
The question as to why The Aussies want the loans repaid remains unanswered.
Obviously, to obtain clean title, but why ?
The answers are because they do end of, or because their possible financiers demand it so.
Sorry I'm struggling to keep up, but where and when was this quoted that the Aussies want all loans paid off ? There are 1676 pages !
Pages 59, 93, 412-467, 660-792, 994, 1023-1211, 1409-1572, 1637-onwardssoapboxsam said:Covered End said:
I'm not 100% certain.cafcwill said:Apoligies if this has been asked and answered before, but just for clairification
Do all of the directors have to be paid off in order for the sale to be completed or can the 3 be kept on for the prospective new owners to sort out?
I.E. Roland has paid off the £4 Million of the & £7 million and made deals with these 4 (?) directors, leaving the other 3 with charges on the title still. This will be seen as a reduction of cost from the Aussies side (if they want the clean title, which it seems they do)
OR
Do all 7 have to be paid off in order for the charge to be removed? (what i think i mean is the charges 1 single Charge or 7 individual charges )?
(i think i have made sense there, apoligies if i haven't)
However, the sale can go through with the ex-director loans remaining, as they have done in the previous 2 sales.
The Aussies want all the loans repaid, so it doesn't matter whether or not there are 7 individual charges.
The question as to why The Aussies want the loans repaid remains unanswered.
Obviously, to obtain clean title, but why ?
The answers are because they do end of, or because their possible financiers demand it so.
Sorry I'm struggling to keep up, but where and when was this quoted that the Aussies want all loans paid off ? There are 1676 pages !
You're welcome
Yes we know Roland tells porky pies but I would like to see all of the directors come out and state their views so there is no ambiguity.
I understand NDA has limited the feed back from any potential new owner during the protracted negotiations.
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Over 120 posts in 3 hours..............surely something has happened.
Nope. 4 pages of people arguing about directors loans.
When are the fixtures out?11 -
More like The Aussies asked Douchebag to repay the ex-directors and he won't, so could be offering them a deal .Redvalleyeast said:So the Aussies have asked Douchebag to ask the ex-directors to take a haircut on the monies owed to them? Mmm,doesnt bode well does it🙄0 -
Anything happening? I just nipped out for a haircut
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Fyi, since start of the year my haircut has gone from £12 to £18.6
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Eight outstanding charges
David Hughes
David Sumners
David White
Sir Maurice Hatter
Richard Murray
56 Developments LLP (Bob Whitehand)
Harmsworth Pension Funds Trustees (No.2) Limited
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None the way we are going, last one out turns the light off.sm said:happyvalley said:1674, The skeletons of 2 children are discovered at the Tower of London. It was thought at the time they were The Princes in the Tower.
I wonder what skeletons we will find when RD eventually goes?1 -
JamesSeed said:
They haven’t offered them a so-called ‘haircut’.Red_in_SE8 said:So it is the Aussies who are trying to screw the ex directors?
Let’s leave it for them to sort out folks. Things are ongoing, and probably changing hour by hour, so hard to comment further. @Bedsaddick
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Don’t ever recall me or anyone saying that LvT has spoken to the ex directors?Covered End said:
Rudders, read above & note that Brunello is a trusted source.Brunello said:Addickted said:
Are you certain he has._MrDick said:
Is that correct? Bob Whitehand has this morning said on Twitter that he’s never met or spoken to Duchatelet.Addickted said:
But it's not.JamesSeed said:.clb74 said:
I believe it’s £7m the Aussies are dealing with now.
That would be a kick in the b@llocks from the Aussies aswell then.Scoham said:The three directors RD has blamed for holding up the takeover are owed a total of £2.65m.
If he for example only wants to pay them 50% then RD is delaying the takeover for the sake of £1.32m.
Even if the clubs losses are cut to say £6m a season, the takeover dragging on another 3 months means he may have to put another £1.5m into the club.
He’s likely to get £30m+ by selling the club and potentially further payments if we’re experience any success on the pitch.
Have the other directors agreed to be paid a % of their loan and therefore RD is refusing to pay any of them off in full?
No it's not thier debt , but after all this time and the season 2 months away the Aussies are going to mess about over £1.3 million.
Can't see it.
If Roland decides to settle the £1.3 million just before the start of the season the Aussies will have a few weeks to get in the players the manager wants.
I’ve a possible solution to the current impasse, but it would involve compromise by Roland, which might be a stumbling block.
The ex Directors are prepared to take a hair cut, as long as he sells lock, stock and barrel. RDs post suggests that he has already agreed with the majority of the ex Directors (though David White has questioned that).
At least the position seems more fluid now that LvT has contacted them at last.
He may not have spoken to or met RD, but LvT has been in touch with all the ex Directors now.0 -
seven isn't it?Addickted said:Eight outstanding charges
David Hughes
David Sumners
David White
Sir Maurice Hatter
Richard Murray
56 Developments LLP (Bob Whitehand)
Harmsworth Pension Funds Trustees (No.2) Limited
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oh i have missed the Its Happening GifsRedChaser said:JamesSeed said:
They haven’t offered them a so-called ‘haircut’.Red_in_SE8 said:So it is the Aussies who are trying to screw the ex directors?
Let’s leave it for them to sort out folks. Things are ongoing, and probably changing hour by hour, so hard to comment further. @Bedsaddick6 -
In your dreams, I've fallen for Mr James Seeds itk before!cafcwill said:
oh i have missed the Its Happening GifsRedChaser said:JamesSeed said:
They haven’t offered them a so-called ‘haircut’.Red_in_SE8 said:So it is the Aussies who are trying to screw the ex directors?
Let’s leave it for them to sort out folks. Things are ongoing, and probably changing hour by hour, so hard to comment further. @Bedsaddick0 -
In which case I owe you a massive apology, as I have misunderstood your post at 11.55am.Brunello said:
Don’t ever recall me or anyone saying that LvT has spoken to the ex directors?Covered End said:
Rudders, read above & note that Brunello is a trusted source.Brunello said:Addickted said:
Are you certain he has._MrDick said:
Is that correct? Bob Whitehand has this morning said on Twitter that he’s never met or spoken to Duchatelet.Addickted said:
But it's not.JamesSeed said:.clb74 said:
I believe it’s £7m the Aussies are dealing with now.
That would be a kick in the b@llocks from the Aussies aswell then.Scoham said:The three directors RD has blamed for holding up the takeover are owed a total of £2.65m.
If he for example only wants to pay them 50% then RD is delaying the takeover for the sake of £1.32m.
Even if the clubs losses are cut to say £6m a season, the takeover dragging on another 3 months means he may have to put another £1.5m into the club.
He’s likely to get £30m+ by selling the club and potentially further payments if we’re experience any success on the pitch.
Have the other directors agreed to be paid a % of their loan and therefore RD is refusing to pay any of them off in full?
No it's not thier debt , but after all this time and the season 2 months away the Aussies are going to mess about over £1.3 million.
Can't see it.
If Roland decides to settle the £1.3 million just before the start of the season the Aussies will have a few weeks to get in the players the manager wants.
I’ve a possible solution to the current impasse, but it would involve compromise by Roland, which might be a stumbling block.
The ex Directors are prepared to take a hair cut, as long as he sells lock, stock and barrel. RDs post suggests that he has already agreed with the majority of the ex Directors (though David White has questioned that).
At least the position seems more fluid now that LvT has contacted them at last.
He may not have spoken to or met RD, but LvT has been in touch with all the ex Directors now.
It appears that you requoted Addickted, but made no comment.
I thought it was you that had made the comment.
Sorry.0 -
@RedChaser is that Sue Parks after the Accrington Stanley owner laid on extra Vol au vents ?RedChaser said:JamesSeed said:
They haven’t offered them a so-called ‘haircut’.Red_in_SE8 said:So it is the Aussies who are trying to screw the ex directors?
Let’s leave it for them to sort out folks. Things are ongoing, and probably changing hour by hour, so hard to comment further. @Bedsaddick2 -
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Chris_from_Sidcup said:Over 120 posts in 3 hours..............surely something has happened.
It’s raining and they can’t go out to play...0 -
Good questions, but do you seriously think I’d say ‘we’re getting towards an endgame’ after I got into trouble for saying ‘the Aussies are hoping it’ll take two weeks or so’ a year ago. ;-) No way! (Although I’m certainly more optimistic than I was a couple of months ago).Rudders22 said:James, I know you can;t say too much. Has there been significant change towards the sale of the club since Wembley? Are there a lot of things going on the background that they are negotiating towards the completion? Are we getting towards the end game now? You mention more will be revelaed in the next few days regarding the loans. Is this something different from what Airman Brown had David White have said? (sitting here with popcorn in one hand and a drink of coke in the other).
But yes, there has been a significant change since Wembley. And again, from two sources.
And yes there are things going on in the background, and hopefully progress can be made. Hopefully the directors or the Aussies will fill in the details if and when they feel they can.
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No they haven’t. Where did you get that info?Redvalleyeast said:So the Aussies have asked Douchebag to ask the ex-directors to take a haircut on the monies owed to them? Mmm,doesnt bode well does it🙄1 -
I’m not trying to con anyone thanks very much ;-)jondon76 said:
In your dreams, I've fallen for Mr James Seeds itk before!cafcwill said:
oh i have missed the Its Happening GifsRedChaser said:JamesSeed said:
They haven’t offered them a so-called ‘haircut’.Red_in_SE8 said:So it is the Aussies who are trying to screw the ex directors?
Let’s leave it for them to sort out folks. Things are ongoing, and probably changing hour by hour, so hard to comment further. @Bedsaddick0 -
A final few concerns of mine on this subject-:
- If Aussies want a 'clean title' why? Do they want to raise funds by mortgaging the stadium/land? That could result in the club being in financial trouble should their plan/ambitions go wrong.
- If they want the 'clean title' why not just pay the ex-directors off as it seems quite clear RD isn't going to do it.
- If, and I don't know if true or not, Muir with all his wealth doesn't want to do this on his own, why is he still trying to get a group together after 2 years?
- and finally, Lee and the team surpassed all expectations last season by getting us promoted on a shoestring, if they are intent on buying us surely they would have secured Lee's services again by now and not leave it to RD or when his conrtract runs out in 20 DAYS time?
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thanks mateCovered End said:
Rudders, read above & note that Brunello is a trusted source.Brunello said:Addickted said:
Are you certain he has._MrDick said:
Is that correct? Bob Whitehand has this morning said on Twitter that he’s never met or spoken to Duchatelet.Addickted said:
But it's not.JamesSeed said:.clb74 said:
I believe it’s £7m the Aussies are dealing with now.
That would be a kick in the b@llocks from the Aussies aswell then.Scoham said:The three directors RD has blamed for holding up the takeover are owed a total of £2.65m.
If he for example only wants to pay them 50% then RD is delaying the takeover for the sake of £1.32m.
Even if the clubs losses are cut to say £6m a season, the takeover dragging on another 3 months means he may have to put another £1.5m into the club.
He’s likely to get £30m+ by selling the club and potentially further payments if we’re experience any success on the pitch.
Have the other directors agreed to be paid a % of their loan and therefore RD is refusing to pay any of them off in full?
No it's not thier debt , but after all this time and the season 2 months away the Aussies are going to mess about over £1.3 million.
Can't see it.
If Roland decides to settle the £1.3 million just before the start of the season the Aussies will have a few weeks to get in the players the manager wants.
I’ve a possible solution to the current impasse, but it would involve compromise by Roland, which might be a stumbling block.
The ex Directors are prepared to take a hair cut, as long as he sells lock, stock and barrel. RDs post suggests that he has already agreed with the majority of the ex Directors (though David White has questioned that).
At least the position seems more fluid now that LvT has contacted them at last.
He may not have spoken to or met RD, but LvT has been in touch with all the ex Directors now.
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have a breather JamesSeed, you're getting a bit defensive. Many of us appreciate your input and updates. We don't expect them and we don't hang on every word given a past failing.JamesSeed said:
I’m not trying to con anyone thanks very much.jondon76 said:
In your dreams, I've fallen for Mr James Seeds itk before!cafcwill said:
oh i have missed the Its Happening GifsRedChaser said:JamesSeed said:
They haven’t offered them a so-called ‘haircut’.Red_in_SE8 said:So it is the Aussies who are trying to screw the ex directors?
Let’s leave it for them to sort out folks. Things are ongoing, and probably changing hour by hour, so hard to comment further. @Bedsaddick
Don't take it to heart.
Also some people like to dismiss just about anything.5
This discussion has been closed.
