PDF on this page Hope the link works https://beta.companieshouse.gov.uk/company/11341675/charges/cNfNmJNi_-NanI6XtY8MSsGRa_I
Lots of buzz over the road about a news article In the chronicle tomorrow or Saturday, the pms are getting thrown about.... Please be good news
It sounds like an article is going to be released concerning the loan, it sounds like its getting paid back but over installments from what I can decifer
Yeah although it's not automatic, they are obliged to do it in a timely manner (off the top of my head I don't recall a specific time) and they'd needlessly be causing issues by bot doing so. @smithy in nl they can't sell without FPP's permission, that is right. As above, the charge sheet (which you can find in the Madrox filing history on companies house) has a few covenants that relate to it. Obviously, the likelihood would be that at least one of FPP or a new buyer would object, which would mean that Donald would need to pay it back. Once it's paid back Donald is free to do as he pleases again.
https://www.readytogo.net/smb/threa...rrow-or-saturday.1512236/page-5#post-31471661 Little snippets of the thread seem to point to the loan been paid back over installments
Well bob has admitted he got the loan bit wrong,apparently it’s all in the chronicle today or tomorrow.
From Bob on RTG, @Kittenmittons @Bob Cheval @Smug in Boots Privvy to any of this? this to answer most of it, I IMHO was led to believe that the loan/investment was being paid back, you will see from todays statement how things have changed, I was not made privy to some of it. so sorry for that. I understand the finance situation will show what its cost us since day 1 with the 3 amigos. and how we are the only club in div 1 and 80% of the championship with no debt and a decent bank balance, inc the repayable short term LOAN as it is now deemed/ called. The other bit i now understand is way different to what most know about or we think is happening. Sounds interesting - the last bit
Not at all mate, I've heard nothing about the loan being short term and can't see the point of it in that case tbh. As for "... I IMHO was led to believe that the loan/investment was being paid back". This is where Bob goes wrong. He was shouting at people, and calling them idiots, for disputing that the loan had already gone back. He was so insistent that I asked the question and was met with a terse NO! This suggestion that we're in great shape, debt free and money in the bank is nonsense imo ... ... if that were the case we wouldn't be in the mess we're in and borrowing money.
Bob seems to be speaking in riddles about something and I can't make head nor tail of it. I'm going to guess that he's referring to the club accounts though, which are due this month.
In STID 2 Donald admitted from the onset that he pretty much couldn't finance the club and it needed inward investment, but he still wanted to keep control. The club is financially crippled with Donald, our outgoings are not sustainable with things as they are. He either sells up....quick...or I can see (especially under the current CV circumstances ) SAFC going into financial meltdown. Donald simply does not have the clout. He banked on promotion first time round...it didn't happen.
I assume this is correct Donald has to repay loan before he sells. Will the new buyers give him a loan to do this? It s bank?