[dim view]

MDCCCLXVI, on 09 March 2015 - 02:49 PM, said:

And of course DA must surely have been aware of those financial commitments upon taking over at Chesterfield.

Call me a cynic, but I'm coming to the conclusion that Ashley wants the notion of DA being misled over this to linger on. Total bollux of course. Ashley, nobody has forgotten the council loan, and all the fans except you, DA, and Nick Johnson know it's historical importance and status.

[Wooden Spoon]

dim view, on 09 March 2015 - 03:32 PM, said:

Call me a cynic, but I'm coming to the conclusion that Ashley wants the notion of DA being misled over this to linger on. Total bollux of course. Ashley, nobody has forgotten the council loan, and all the fans except you, DA, and Nick Johnson know it's historical importance and status.

The council have done a lot to help CFC.

Without the loan to cover the CVA after the ITV digital fiasco the club would have been in dire straights. IMO the council would be way way down near the bottom if there was a list of people to blame for the current financial situation.

Also, and just as important - Ashley, how much did the land for the ground cost, and which body was responsible for the price of the land?

[60s 70s Spireite]

dim view, on 09 March 2015 - 03:22 PM, said:

How can redundancy/restructuring/compensation costs be unplanned?.

Easy, if the decision makers ride slipshod over employment laws and regulations, and decide to sack someone summarily without taking good legal and employment law advice.

Not saying it has happened at CFC......

[azul]

60s 70s Spireite, on 09 March 2015 - 05:17 PM, said:

Easy, if the decision makers ride slipshod over employment laws and regulations, and decide to sack someone summarily without taking good legal and employment law advice.

Not saying it has happened at CFC......

I thought the maximum compensation is capped at circa £80K for unfair dismissal

[azul]

MDCCCLXVI, on 09 March 2015 - 02:49 PM, said:

Ashley.

I guess you were at Hillsborough when CFC took out the CBC loans, but they were offered and accepted in good faith, structured to be repaid over a reasonable period, and at rates similar to those received by Boardmembers. Infact Chesterfield Borough Council did more than any single individual to pay off our CVA - without demanding any Boardroom position in return, might I add - then played a major role in facilitating the move to the new stadium. And of course DA must surely have been aware of those financial commitments upon taking over at Chesterfield.

Subsequently I struggle to understand why friendly loans - that amount to less then last year's losses, by the way - have become such a significant issue now.

Your not alone, I think many people are starting to realise the issue with interest on loans is a smokescreen, especially that CBC one

[Westbars Spireite]

The cost of servicing the council loan is absolutely miniscule. Can't see why it's worthy of mention other than to deflect attention from other areas.

This post has been edited by Westbars Spireite: 09 March 2015 - 05:38 PM

[Guest_freelander2_*]

dim view, on 09 March 2015 - 03:32 PM, said:

Call me a cynic, but I'm coming to the conclusion that Ashley wants the notion of DA being misled over this to linger on. Total bollux of course. Ashley, nobody has forgotten the council loan, and all the fans except you, DA, and Nick Johnson know it's historical importance and status.

Dave,

I'm 99.9% sure that the subject AC is hinting at, we spoke about it prior to the AGM starting. You had a bee in your bonnet and was looking to take the matter up with a Director prior to the meeting getting underway.

[60s 70s Spireite]

azul, on 09 March 2015 - 05:30 PM, said:

I thought the maximum compensation is capped at circa £80K for unfair dismissal

That would be for a case brought to Industrial Tribunal. Higher earners (football managers eg) would normally take their case to court where there is no limit.
In any event F2 looks like he has a good idea of what matter the £140k possibly refers to.

[dim view]

freelander2, on 09 March 2015 - 06:17 PM, said:

Dave,

I'm 99.9% sure that the subject AC is hinting at, we spoke about it prior to the AGM starting. You had a bee in your bonnet and was looking to take the matter up with a Director prior to the meeting getting underway.

Evening mate. It must be dementia. I don't know what you are on about. Sorry.

[Guest_freelander2_*]

dim view, on 09 March 2015 - 07:04 PM, said:

Evening mate. It must be dementia. I don't know what you are on about. Sorry.

You're losing it!

[Westbars Spireite]

Can it be placed on an open forum?

[Guest_freelander2_*]

acarson, on 08 March 2015 - 12:05 PM, said:

Yes Mike, correct, we all agreed to reduce to 2.5% to help the club

AshleyC

I've just been having a look at Pages 19 & 20 in last year's accounts, period 01/07/13 to 30/06/14. Under related party transactions, it states:

Interest is payable on the above loans at rates of between 2.5% and 5% per annum.

That reads like old loans are attracting an interest rate of 5% and new loans at 2.5%, is that right or has a decision been made after the year end (30/06/14) to reduce the interest rates on ALL loans to 2.5%?

This post has been edited by freelander2: 09 March 2015 - 08:23 PM

[dim view]

Westbars Spireite, on 09 March 2015 - 07:15 PM, said:

Can it be placed on an open forum?

Well, the bee in my bonnet can, because I asked the question at the AGM.....

I wanted to know when the Trust was going to start repaying the capital part of it's mortgage, which is supplied by CFC. Ashley said (paraphrased) that CFC had not asked for it yet because they wanted the Trust to get established, but that meetings would take place in the near future about it.

Now, I'm not suggesting for one minute that this is related to Ashley's statement.

I have of course whinged on here ad nauseam about what a good idea it would be if the Trust got their own commercial mortgage and used it to repay CFC.