Les Tonks Sidestep Posted October 19, 2018 Share Posted October 19, 2018 16 minutes ago, The Grinder said: Steve, that was my assumption too, however I doubt it would be the whole £10k per month, since I assume that not all the loans are secured against the land we wish to develop. It would be easier to get a loan secured against the stadium than it is against the land in question. So I'd expect a reduction but not all of it, howver even if it is 50% and therefore £60k pa reduction it would be significant. The question that I was going to ask, but never got the chance, was "when would the chanrges be paid off" since it is only at that point when the loan payments would be reduced. I got the impression that the charges would be paid off at the point of the agreement between the 2 (or more?) parties being made to develop a development plan. I guess the success of (the first part of) the plan (the debt pay off or reduction) will depend very much on the chance any partner believes the change of use application has of succeeding. Link to comment Share on other sites More sharing options...
Robin Evans Posted October 19, 2018 Share Posted October 19, 2018 Sounds like a good neet Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 19, 2018 Share Posted October 19, 2018 34 minutes ago, Robin Evans said: Sounds like a good neet Not as good as some I've been to over the years Link to comment Share on other sites More sharing options...
jamescolin Posted October 19, 2018 Share Posted October 19, 2018 Just read Longo has left. Is it true? If it is that is really bad news and puts things in a different perspective. Link to comment Share on other sites More sharing options...
Maureen T-k Posted October 19, 2018 Share Posted October 19, 2018 1 hour ago, jamescolin said: Just read Longo has left. Is it true? If it is that is really bad news and puts things in a different perspective. Where you read this Colin .?? Im Fev and im proud Link to comment Share on other sites More sharing options...
jamescolin Posted October 19, 2018 Share Posted October 19, 2018 In Facebook. I hope it is some kind of joke. Written by a Joe Powell. 2 hours ago and he describes himself as a Featherstone Fan. Link to comment Share on other sites More sharing options...
Robin Evans Posted October 19, 2018 Share Posted October 19, 2018 Link to comment Share on other sites More sharing options...
jamescolin Posted October 19, 2018 Share Posted October 19, 2018 So it was a joke. In very poor taste. Must be getting old. I just don't see it as funny in any way. Link to comment Share on other sites More sharing options...
Maureen T-k Posted October 19, 2018 Share Posted October 19, 2018 24 minutes ago, jamescolin said: In Facebook. I hope it is some kind of joke. Written by a Joe Powell. 2 hours ago and he describes himself as a Featherstone Fan. Oh dear Colin it’s a taking the urine post Im Fev and im proud Link to comment Share on other sites More sharing options...
jamescolin Posted October 19, 2018 Share Posted October 19, 2018 My apologies to everyone. Thank goodness it was not true. As I said I didn't get it. Is humour changing? Link to comment Share on other sites More sharing options...
Cardypaul Posted October 20, 2018 Share Posted October 20, 2018 I had seen a figure of £10,000 a month mentioned somewhere but I thought it was our monthly repayments. If it was and we can reduce that it may free up some money to spend somewhere else. Link to comment Share on other sites More sharing options...
Piggy's mate Posted October 20, 2018 Share Posted October 20, 2018 Why would a P/T club borrow 600k and how would it ever pay it back? Seems bonkers Touch Rugby W(h)inger and part-time Super Hero (Thursday mornings by appointment) BATLEY BULLDOGS RLFC Link to comment Share on other sites More sharing options...
jamescolin Posted October 20, 2018 Share Posted October 20, 2018 The answer will be in the records and audited accounts of the time. So when was the item brought up to the powers that be , when was it passed and what was the reason and the terms of the advance. It seems that the land was in the minds of people a long time ago with thoughts to the future in terms of a profitable investment. It might be that the accumulated interest will be charged in full when the situation is resolved. It would be interesting to know the terms of the loans in each case. Link to comment Share on other sites More sharing options...
gittinsfan Posted October 20, 2018 Share Posted October 20, 2018 Serious question.Not having a go. If your shareholders had to vote on various options regarding your land.Should they not have had some input into the acceptance of various loans? Link to comment Share on other sites More sharing options...
jamescolin Posted October 20, 2018 Share Posted October 20, 2018 Depends on the Memorandum and Articles of Association. These are the rules by which the directors can operate. They may have authority to do things within those rules. Any action taken outside the Memorandum rules is considered as ultra vires (beyond the powers of).There may be some priority loans over others. A debenture is not always secured. Lots of rules so one would have to consult the Articles as stated. Link to comment Share on other sites More sharing options...
jamescolin Posted October 20, 2018 Share Posted October 20, 2018 That was to Gittinsfan. Link to comment Share on other sites More sharing options...
jamescolin Posted October 20, 2018 Share Posted October 20, 2018 Anybody lending money should ask 'What is to be done with the money. What are your plans for repayment. If your plans go wrong how do we get our money back? As professionals they must have been happy with the balance sheet at the time, or were looking at the assets held with a view to the future prospects of maturity of them Link to comment Share on other sites More sharing options...
Piggy's mate Posted October 21, 2018 Share Posted October 21, 2018 I just find it odd on a couple of fronts that he'd let his money simply sit and depreciate with little or no opportunity to recoup it? I guess Fev like most don't turn a profit so it appears he'll never get it back. I just don't get it? That's without getting into what the money was even spent on! Touch Rugby W(h)inger and part-time Super Hero (Thursday mornings by appointment) BATLEY BULLDOGS RLFC Link to comment Share on other sites More sharing options...
Fev1983 Posted October 21, 2018 Share Posted October 21, 2018 41 minutes ago, Piggy's mate said: I just find it odd on a couple of fronts that he'd let his money simply sit and depreciate with little or no opportunity to recoup it? I guess Fev like most don't turn a profit so it appears he'll never get it back. I just don't get it? That's without getting into what the money was even spent on! Someone who's passionate about the club, half of SL teams rely on benefactor, glad we have one. Link to comment Share on other sites More sharing options...
Robin Evans Posted October 21, 2018 Share Posted October 21, 2018 Salford are on their botty. Take Davy out of fartown, Hudgel from east saaaarde etc and they're finished too.... I could go on.....but I can't be ar sed Link to comment Share on other sites More sharing options...
Monkeymagic22 Posted October 21, 2018 Share Posted October 21, 2018 Maybe some of the money was used to pay off Feisal?. Don’t know if he or his company are still listed as being shareholders?. Link to comment Share on other sites More sharing options...
marklaspalmas Posted October 21, 2018 Author Share Posted October 21, 2018 5 minutes ago, Monkeymagic22 said: Maybe some of the money was used to pay off Feisal?. Don’t know if he or his company are still listed as being shareholders?. The company (Featherstone Rovers) can't "pay off" a shareholder (by far the biggest the club has btw). We now know that of the 1.2m we owe, 0.6m is to Mark Campbell and 0.2m is to Colm Corran. Piggy's mate raises questions in his post. https://www.fevarchive.co.uk/ Link to comment Share on other sites More sharing options...
marklaspalmas Posted October 21, 2018 Author Share Posted October 21, 2018 14 hours ago, jamescolin said: Anybody lending money should ask 'What is to be done with the money. What are your plans for repayment. If your plans go wrong how do we get our money back? As professionals they must have been happy with the balance sheet at the time, or were looking at the assets held with a view to the future prospects of maturity of them I don't know where to start with this..... https://www.fevarchive.co.uk/ Link to comment Share on other sites More sharing options...
Piggy's mate Posted October 21, 2018 Share Posted October 21, 2018 1 hour ago, Fev1983 said: Someone who's passionate about the club, half of SL teams rely on benefactor, glad we have one. But he's not in some ways as he wants it back! I give what I can afford to my club albeit a modest amount not ask for my few hundred quid back or put the club in jeopardy in case I decide I need it back pronto. And what has Fev spend 800k on in just a few seasons?? Crazy imo Touch Rugby W(h)inger and part-time Super Hero (Thursday mornings by appointment) BATLEY BULLDOGS RLFC Link to comment Share on other sites More sharing options...
jamescolin Posted October 21, 2018 Share Posted October 21, 2018 Firstly you are not a director so the circumstances are different. One would have to look at the Income and Expenditure on the Balance Sheet to find what had transpired. Link to comment Share on other sites More sharing options...
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