Loan Settlements
#1
Posted 31 July 2019 - 10:23 AM
According to Companies House (and my limited knowledge of its content) this week wee settled DA's original loan (£2M???) when from when he was appointed in 2009 and then two more debentures to AS Leisure from July 16 and December 17.
Seems DA prioritised himself and AS over the other ex-directors with charges still oweing.
maybe someone a little more Companies House 'savvy' can have a look and explain further?
#2
Posted 31 July 2019 - 10:47 AM
Sammy Spireite, on 31 July 2019 - 10:23 AM, said:
According to Companies House (and my limited knowledge of its content) this week wee settled DA's original loan (£2M???) when from when he was appointed in 2009 and then two more debentures to AS Leisure from July 16 and December 17.
Seems DA prioritised himself and AS over the other ex-directors with charges still oweing.
maybe someone a little more Companies House 'savvy' can have a look and explain further?
Taken a haircut more likely.
#3
Posted 31 July 2019 - 10:53 AM
Sammy Spireite, on 31 July 2019 - 10:23 AM, said:
According to Companies House (and my limited knowledge of its content) this week wee settled DA's original loan (£2M???) when from when he was appointed in 2009 and then two more debentures to AS Leisure from July 16 and December 17.
Seems DA prioritised himself and AS over the other ex-directors with charges still oweing.
maybe someone a little more Companies House 'savvy' can have a look and explain further?
PriceOfFootball
@KieranMaguire
Sometimes looks at these things on Twitter, he's usually quite clued up
#4
Posted 31 July 2019 - 11:01 AM
Blue5, on 31 July 2019 - 10:47 AM, said:
At first glance it looks a little strange. If you filter filed documents under ‘charges’ I can’t see DA or A and S has any outstanding debentures, or am I missing something?
Has he taken a full haircut? Is the club being readied for a sale?
#5
Posted 31 July 2019 - 11:41 AM
edit: sorry. can't attache the file
page 27 on the link
https://beta.compani...=pdf&download=0
This post has been edited by Sammy Spireite: 31 July 2019 - 11:45 AM
#6
Posted 31 July 2019 - 11:56 AM
Sammy Spireite, on 31 July 2019 - 11:41 AM, said:
edit: sorry. can't attache the file
page 27 on the link
https://beta.compani...=pdf&download=0
That was Sept 18 SS; we won’t know what, if anything, has changed until the Sept 19 AS Leisure accounts are filed.
#7
Posted 31 July 2019 - 04:15 PM
60s 70s Spireite, on 31 July 2019 - 11:56 AM, said:
Presumably, things might become a little clearer when our accounts are released?
#8
Posted 31 July 2019 - 04:26 PM
dim view, on 31 July 2019 - 04:15 PM, said:
Not until the 2020 accounts are released.
I suspect we will get a fuller picture very shortly, it seems this could be a major development. As it’s in the public domain, it’s a legitimate question to be asked by the press.
#9
Posted 31 July 2019 - 04:32 PM
#10
Posted 31 July 2019 - 04:36 PM
60s 70s Spireite, on 31 July 2019 - 04:26 PM, said:
I suspect we will get a fuller picture very shortly, it seems this could be a major development. As it’s in the public domain, it’s a legitimate question to be asked by the press.
I suspect we might hear confirmation on the eve of the new season.
[Name] writes off [Amount] worth of loans could be the headline.
#11
Posted 31 July 2019 - 04:50 PM
Blue5, on 31 July 2019 - 04:36 PM, said:
[Name] writes off [Amount] worth of loans could be the headline.
For what reason I wonder.
A. As a gesture of goodwill to the good people of Chesterfield and fans of the football club
B. To facilitate a sale [offer already on the table?]
#12
Posted 31 July 2019 - 04:51 PM
60s 70s Spireite, on 31 July 2019 - 04:50 PM, said:
A. As a gesture of goodwill to the good people of Chesterfield and fans of the football club
B. To facilitate a sale [offer already on the table?]
I will go for: A.
I suspect it will not make any reference whatsoever to the ex directors!
This post has been edited by Blue5: 31 July 2019 - 04:59 PM
#14
Posted 31 July 2019 - 05:26 PM
#15
Posted 31 July 2019 - 05:29 PM
Phil V 72, on 31 July 2019 - 05:22 PM, said:
The timing of that statement is an amazing coincidence
Just the £9M left to write off
#16
Posted 31 July 2019 - 05:35 PM
#17
Posted 31 July 2019 - 05:42 PM
azul, on 31 July 2019 - 05:29 PM, said:
Just the £9M left to write off
Suspect the timing is because Sammy noticed it
#18
Posted 31 July 2019 - 05:44 PM
CFC91, on 31 July 2019 - 05:35 PM, said:
Seems to be a move to make the business more attractive to potential suitors.
#19
Posted 31 July 2019 - 05:47 PM
Phil V 72, on 31 July 2019 - 05:42 PM, said:
Not a chance, Ashley is ahead of the game
#20
Posted 31 July 2019 - 06:06 PM
Phil V 72, on 31 July 2019 - 05:22 PM, said:
My interpretation: a debt of around two million had increased to one approaching eleven and a half million over then ten or so years since Dave Allen and Ashley Carson arrived.
On paper this rendered the business bankrupt, so the owner has written off in excess of two million owed to A&S Leisure.
Of course there'll be those who'll applaud this as a wonderful gesture whilst belittling others who don't replicate their gushing gratitude.
On the other hand there'll be those who'll say the majority shareholder brought it upon himself by years of bewilderingly poor decisions and it underlines how the very future of CFC still hangs by the thinnest of threads...