[Sammy Spireite]

Seems weve suddenly come in to some cash?!

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?

[Blue5]

Sammy Spireite, on 31 July 2019 - 10:23 AM, said:

Seems weve suddenly come in to some cash?!

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.

[Phil V 72]

Sammy Spireite, on 31 July 2019 - 10:23 AM, said:

Seems weve suddenly come in to some cash?!

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

[60s 70s Spireite]

Blue5, on 31 July 2019 - 10:47 AM, said:

Taken a haircut more likely.

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?

[Sammy Spireite]

Found this in the AS leisure accounts published last month for year ending Sept 18, suggesting the loan was restored back to £2,000,000 in Dec 2017 and the amount owed remains at £2,045,098 and is now interest free, but with no further repayments being made at that point.

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

[60s 70s Spireite]

Sammy Spireite, on 31 July 2019 - 11:41 AM, said:

Found this in the AS leisure accounts published last month for year ending Sept 18, suggesting the loan was restored back to £2,000,000 in Dec 2017 and the amount owed remains at £2,045,098 and is now interest free, but with no further repayments being made at that point.

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.

[dim view]

60s 70s Spireite, on 31 July 2019 - 11:56 AM, said:

That was Sept 18 SS; we won’t know what, if anything, has changed until the Sept 19 AS Leisure accounts are filed.

Presumably, things might become a little clearer when our accounts are released?

[60s 70s Spireite]

dim view, on 31 July 2019 - 04:15 PM, said:

Presumably, things might become a little clearer when our accounts are released?

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.

[moondog]

I am informed the club will issue a statement to clarify these transactions

[Blue5]

60s 70s Spireite, on 31 July 2019 - 04:26 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.

I suspect we might hear confirmation on the eve of the new season.

[Name] writes off [Amount] worth of loans could be the headline.

[60s 70s Spireite]

Blue5, on 31 July 2019 - 04:36 PM, said:

I suspect we might hear confirmation on the eve of the new season.

[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?]

[Blue5]

60s 70s Spireite, on 31 July 2019 - 04:50 PM, said:

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?]

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

[Phil V 72]

https://www.chesterf...club-statement/

[spireitetoo]

Looks like the club has a hefty price tag then, if he thinks or hopes to recoup that 9 and a quarter million.

[azul]

Phil V 72, on 31 July 2019 - 05:22 PM, said:

https://www.chesterf...club-statement/

The timing of that statement is an amazing coincidence

Just the £9M left to write off

[CFC91]

So what does this actually mean? DA has literally just written off £2m as a GWG? Surely it can’t be that simple? Nothing else is

[Phil V 72]

azul, on 31 July 2019 - 05:29 PM, said:

The timing of that statement is an amazing coincidence

Just the £9M left to write off

Suspect the timing is because Sammy noticed it

[Phil V 72]

CFC91, on 31 July 2019 - 05:35 PM, said:

So what does this actually mean? DA has literally just written off £2m as a GWG? Surely it can’t be that simple? Nothing else is

Seems to be a move to make the business more attractive to potential suitors.

[Wooden Spoon]

Phil V 72, on 31 July 2019 - 05:42 PM, said:

<br />Suspect the timing is because Sammy noticed it<br />

Not a chance, Ashley is ahead of the game

[The Earl of Chesterfield]

Phil V 72, on 31 July 2019 - 05:22 PM, said:

https://www.chesterf...club-statement/

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...