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MLT on SSN confirmation of Consortium involvment


Griffo

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Nick, influence is not illegal where objective decisions are being made. It is decision-making based on a holistic view. There are more intangibles in society old friend than just black and white legal decisions.

 

MPs should state our case to Fry... but only if necessary. The decision being made here directly influences the morale of the people of Southampton in potentially difficult times. That has political connertations.

But the creditors will not be interested in an mp , but get as much as their money back as possible. We all would be the same if it wasn't our club and our money

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I really don't like all this waiting. nerves getting to me would really really love my hero to be involved would be really great for saints. But above everything I want the saints to exist for my kids and the future, for me to.

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I really don't like all this waiting. nerves getting to me would really really love my hero to be involved would be really great for saints. But above everything I want the saints to exist for my kids and the future, for me to.

 

Surely a City the size of Southampton will always have a football team

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Surely a City the size of Southampton will always have a football team

 

Was talking about this only a few minutes ago. I, myself needed reminding that when there is a time limit, takeovers always go to the wire. Remember, if Saints go out of existence, Norwich Union won't get their money, and neither will Barclays Bank. Any buyers will be waiting for them to blink.

 

Keep your powder dry. This will go right to the last minute of the end of the season, and to the last pound coin.

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Was talking about this only a few minutes ago. I, myself needed reminding that when there is a time limit, takeovers always go to the wire. Remember, if Saints go out of existence, Norwich Union won't get their money, and neither will Barclays Bank. Any buyers will be waiting for them to blink.

 

Keep your powder dry. This will go right to the last minute of the end of the season, and to the last pound coin.

 

I agree but will we be docked anymore points

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But the creditors will not be interested in an mp , but get as much as their money back as possible. We all would be the same if it wasn't our club and our money

 

The creditors don't get to choose though. In the end it's up to the admin to sort the deal. They have no input and pretty much zero redress if they don't like the results.

 

It's up to the admin how he chooses to achieve the best for the creditors and as far as i know there's nobody he has to answer to.

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The creditors don't get to choose though. In the end it's up to the admin to sort the deal. They have no input and pretty much zero redress if they don't like the results.

 

It's up to the admin how he chooses to achieve the best for the creditors and as far as i know there's nobody he has to answer to.

 

I don't think that's right. I think the creditors have to agree in order for a CVA to be issued. The bigger the creditor the bigger say he has, surely?

 

After all, the Administrator is appointed by the creditor(s).

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http://www.pinnacleproperty.net/contact.htm

 

It doesn't bode well that these people can't even spell 'correspondence' on their own website.

 

Makes them look like a bunch of amateurs.

 

The whole website looks like it was built by a 14 year old on a day work experience. Hardly exudes the sort of web presence you would expect of a multi million pound company. Lets just hope that 'look' and 'first impressions' prove decieving.

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I don't think that's right. I think the creditors have to agree in order for a CVA to be issued. The bigger the creditor the bigger say he has, surely?

 

After all, the Administrator is appointed by the creditor(s).

 

As i understand it a CVA is just a mechanism for a company to shed some of its debt and continue trading.

 

That's a different issue to how the Administrator seeks to raise funds to pay the creditors.

 

If the club and stadium are sold by the PLC there will be little point in seeking a CVA as the company will have no ongoing business.

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Originally Posted by Delmary viewpost.gif Le Tiss is in talks with local property consultant about joining consortium. The local consultant is representing a wealthy property developer.

 

Well if it fits in with the brothers who did the Chelsea barrcks development we have some proper money behind them

 

Why would anyone with real money require someone else to represent them (the local consultant, not Matt)? As much as we love Matt, if you are looking at bringing him into the bid it all looks extremely weak. Matt's talents lie elsewhere and the only reason someone would get him involved, would be to drum up the pennies and placate the fans. Everything I have heard makes me believe there is no real money out there, just the usual idiots scratching around. Th proof of funds has determined they have some capital and assets, but it does not guarantee they can afford to spare but a fraction of that.

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As i understand it a CVA is just a mechanism for a company to shed some of its debt and continue trading.

 

That's a different issue to how the Administrator seeks to raise funds to pay the creditors.

 

If the club and stadium are sold by the PLC there will be little point in seeking a CVA as the company will have no ongoing business.

 

I think there's a difference between a CVA (Creditors' Voluntary Arrangement) and a CVA (Creditors' Voluntary Agreement). I think the latter applies to us:

 

Company voluntary agreement

A company voluntary agreement is similar to an informal arrangement but a registered Insolvency Practitioner (IP) - who specialises in advising failing companies - is brought in to negotiate with the creditors. The IP will call a creditors' meeting to present your repayment plan and if 75% (by value) of creditors vote for the arrangement, it is binding on all parties. Once agreement is reached, it is formalised by the court.

 

From this article:

http://www.lawyerlocator.co.uk/article/overview_of_insolvency_.html

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I wonder if Matt is truly involved in this bid, or whether they just see him as a "trump card" in terms of fan approval.

 

Regardless, if there are other better offers - in terms of financials, and/or business acumen - I'd still go with the alternatives, even if it meant passing up Le Tiss on the board. The next Board of this club MUST be the right fit to get us moving onwards and upwards. Also, who's to say other consortia won't also potentially use Matty in some way.

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Hair-splitting?

 

No, I don't think so:

 

What is a Company Voluntary Arrangement (CVA)?

A company voluntary arrangement is a recognised legal procedure, under the provisions of the Insolvency Act of 1986 that enable a company to enter into a binding agreement with its creditors detailing how the company's debts and liabilities will be dealt with, and allows the directors to retain the control of the company.

 

In essence a company voluntary arrangement allows a company with historical cash flow problems to repay its liabilities, either in part or in full (including the Inland Revenue and VAT) over a period of time. Once the company's liabilities have been restructured any monies generated by the company e.g. book debts can be used as working capital rather than paying its old debts.

 

From: http://www.middletonpartners.co.uk/company_voluntary_arrangement.htm

 

I do, however, think the difference is subtle :)

 

Just heard on Radio 5 Live that Arlo White 'understands' that a deal might be struck with Aviva (Norwich Union) to write off half the stadium debt. He didn't give a source.

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No, I don't think so:

 

What is a Company Voluntary Arrangement (CVA)?

A company voluntary arrangement is a recognised legal procedure, under the provisions of the Insolvency Act of 1986 that enable a company to enter into a binding agreement with its creditors detailing how the company's debts and liabilities will be dealt with, and allows the directors to retain the control of the company.

 

In essence a company voluntary arrangement allows a company with historical cash flow problems to repay its liabilities, either in part or in full (including the Inland Revenue and VAT) over a period of time. Once the company's liabilities have been restructured any monies generated by the company e.g. book debts can be used as working capital rather than paying its old debts.

 

From: http://www.middletonpartners.co.uk/company_voluntary_arrangement.htm

 

I do, however, think the difference is subtle :)

 

Just heard on Radio 5 Live that Arlo White 'understands' that a deal might be struck with Aviva (Norwich Union) to write off half the stadium debt. He didn't give a source.

 

I think thats been suggested since day one of administration.

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for investing in Saints or other reasons?

 

They don't have the money nick. They are simply guys who bring money together for property developments. Most of their backing is Qatari and they're several developments which are not selling. It's all money on the never, never as far as I can see!

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No you may not. The Candy Brothers look good and enterprising. Perhaps under their ownership, Saints matches would be like taking candy from..

 

No. I'm not allowing that either.

 

Uh oh - you know that'll get me going :D

 

It would be sweet if they took over

 

We could usurp Everton as the New Toffees

 

We might get rid of our marshmallow defence

 

There you go - my starter for three.....

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But the creditors will not be interested in an mp , but get as much as their money back as possible. We all would be the same if it wasn't our club and our money

 

Perhaps. Our perhaps not. Methinks there is much more to play for than just a return financially. I think ALL businessmen are interested in MPs opinions, but there are also others who have influence.

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Would love to see Woggy back now Lowe has gone. We should start a campaign... BRING BACK WOGGY!

 

 

Lest we forget Ethel the tea lady....never understood Rupert with that one..AND she was replaced by a bloooody painting of a train.:D

 

 

Sorry just realised we got the painting for free.:rolleyes:

 

 

Mind you having played against Woggy many years ago he may be a starter for the first team next season.;)

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Sky Sport News just saying on the match report that Wotte has said the club has received two bids.

 

Now MLT as a figure head chairman , wouldn't need cash input as we've seen Chairman don't need to invest, certainly would unite the fans.

 

He can be our Niall Quinn you mean :)

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