ToreSF Posted 29 July, 2014 Share Posted 29 July, 2014 In Kats pocket (is this even possible)? Covering debts? More infrastructure? New players? Link to comment Share on other sites More sharing options...
Lallana's Left Peg Posted 29 July, 2014 Share Posted 29 July, 2014 In Kats pocket (is this even possible)? Covering debts? More infrastructure? New players? No-one knows yet, obviously. Link to comment Share on other sites More sharing options...
70's Mike Posted 29 July, 2014 Share Posted 29 July, 2014 Blimey Echos of threads in Ruperts days Where has the money gone Link to comment Share on other sites More sharing options...
ToreSF Posted 29 July, 2014 Author Share Posted 29 July, 2014 No-one knows yet' date=' obviously.[/quote'] No, but surely someone knows a bit of company law? Is it possible for a sole owner to sell all assets and take the money? Link to comment Share on other sites More sharing options...
Bearsy Posted 29 July, 2014 Share Posted 29 July, 2014 I spose Kat will take repayment on any loans she has outstanding, and quite right too. Otherwise it's bit difficult to get money out of a company without attracting attention of tax man, I would imagine. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 29 July, 2014 Share Posted 29 July, 2014 No, but surely someone knows a bit of company law? Is it possible for a sole owner to sell all assets and take the money? Well yes, it's called asset stripping. Link to comment Share on other sites More sharing options...
Nolan Posted 29 July, 2014 Share Posted 29 July, 2014 Probably into the saints fc accounts. Link to comment Share on other sites More sharing options...
ToreSF Posted 29 July, 2014 Author Share Posted 29 July, 2014 I spose Kat will take repayment on any loans she has outstanding, and quite right too. Otherwise it's bit difficult to get money out of a company without attracting attention of tax man, I would imagine. How much debt is there? £60-70m? Link to comment Share on other sites More sharing options...
ToreSF Posted 29 July, 2014 Author Share Posted 29 July, 2014 Well yes, it's called asset stripping. Asset stripping is regulated by law, isn't it? Link to comment Share on other sites More sharing options...
Lallana's Left Peg Posted 29 July, 2014 Share Posted 29 July, 2014 No, but surely someone knows a bit of company law? Is it possible for a sole owner to sell all assets and take the money? I believe it is possible she can pay herself a dividend from the profits of the club. However, I also think we wouldn't be aware of that until the Accounts for this season are logged which will be the season after next I think. The other indication will be how much we spend on players in the meantime. But I'm no Accountant Link to comment Share on other sites More sharing options...
Bearsy Posted 29 July, 2014 Share Posted 29 July, 2014 How much debt is there? £60-70m? I dunno nothing bout this sort of thing really but weren't it that a big chunk of debt accrued upto promotion (£30m?) she converted into equity or whatever so it weren't a loan no more? Bet she regrets that now! Link to comment Share on other sites More sharing options...
Turkish Posted 29 July, 2014 Share Posted 29 July, 2014 I am in London today and saw Kat getting into a Bentley outside Harrods with a personal shopper carrying a selection of Louis Vitton handbags and Louboutin shoes. Stoppoing only to post something in the letter box, which a source told me was a card FAO John Henry C/O Liverpool FC, Anfield, Liverpool. Make of that what you will. Link to comment Share on other sites More sharing options...
CB Saint Posted 29 July, 2014 Share Posted 29 July, 2014 No, but surely someone knows a bit of company law? Is it possible for a sole owner to sell all assets and take the money? Yes, a lot of business are sold based upon the value of the business (which is usually based on future earning potential) plus free cash (ie cash in the bank less debts) Link to comment Share on other sites More sharing options...
Viking Warrior Posted 29 July, 2014 Share Posted 29 July, 2014 Hopefully in the bank gaining the club even more more before they purchase players Link to comment Share on other sites More sharing options...
Window Cleaner Posted 29 July, 2014 Share Posted 29 July, 2014 (edited) No, but surely someone knows a bit of company law? Is it possible for a sole owner to sell all assets and take the money? ........ Edited 29 July, 2014 by Window Cleaner Link to comment Share on other sites More sharing options...
Window Cleaner Posted 29 July, 2014 Share Posted 29 July, 2014 I dunno nothing bout this sort of thing really but weren't it that a big chunk of debt accrued upto promotion (£30m?) she converted into equity or whatever so it weren't a loan no more? Bet she regrets that now! No but even that amount is now in theory available through a manoeuvre in last years accounts. Link to comment Share on other sites More sharing options...
KingdomCome Posted 29 July, 2014 Share Posted 29 July, 2014 No, but surely someone knows a bit of company law? Is it possible for a sole owner to sell all assets and take the money? She can take a dividend from profits. She can demand repayment of loans made by her to the company (I don't think she has any loans though). She can take a directors loan, but this would be essentially pointless as she would have to give the money back. If she was looking to sell, she could sell the players so that there is significant profit. Purchase enough to keep the club going, take a dividend then sell what remains. It would be a useful method if she wanted to widen the pool of prospective purchasers as the club would be less valuable, but she would still have more or less the same amount of money. Dividends are a bit of a tax heavy option as the funds will essentially be taxed twice, once with corporation tax (making the profit) and again with personal tax (personal gain by taking the dividend). I'm not convinced this is KL's plan though, just explaining the possibility. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 29 July, 2014 Share Posted 29 July, 2014 (edited) Asset stripping is regulated by law, isn't it? as far as I know, which is probably not enough, you can always take back sums that you've loaned to your company in the short term. You can even arrange it so that equity can be removed. Why did the company put out a solvency statemlent last year? Was it not explained to us at that time that it might even be a reduction in equity?. http://www.saintsweb.co.uk/showthread.php?46032-Cashing-In-Reduction-In-Share-Captial#.U9eb0Pl_ukw post 4.....still about are you ben ? and 22..now Clapham..there was a guy who knew his stuff. Edited 29 July, 2014 by Window Cleaner Link to comment Share on other sites More sharing options...
ToreSF Posted 29 July, 2014 Author Share Posted 29 July, 2014 She can take a dividend from profits. She can demand repayment of loans made by her to the company (I don't think she has any loans though). She can take a directors loan, but this would be essentially pointless as she would have to give the money back. If she was looking to sell, she could sell the players so that there is significant profit. Purchase enough to keep the club going, take a dividend then sell what remains. It would be a useful method if she wanted to widen the pool of prospective purchasers as the club would be less valuable, but she would still have more or less the same amount of money. Dividends are a bit of a tax heavy option as the funds will essentially be taxed twice, once with corporation tax (making the profit) and again with personal tax (personal gain by taking the dividend). I'm not convinced this is KL's plan though, just explaining the possibility. The answer I was after. Thanks a lot. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 29 July, 2014 Share Posted 29 July, 2014 She can take a dividend from profits. She can demand repayment of loans made by her to the company (I don't think she has any loans though). She can take a directors loan, but this would be essentially pointless as she would have to give the money back. If she was looking to sell, she could sell the players so that there is significant profit. Purchase enough to keep the club going, take a dividend then sell what remains. It would be a useful method if she wanted to widen the pool of prospective purchasers as the club would be less valuable, but she would still have more or less the same amount of money. Dividends are a bit of a tax heavy option as the funds will essentially be taxed twice, once with corporation tax (making the profit) and again with personal tax (personal gain by taking the dividend). I'm not convinced this is KL's plan though, just explaining the possibility. Of course she's loaned money to the company. 33 million was converted to equity about 3 years back, all the rest of the advances made by KL to St Marys Football Group or whatever is are loans, they can be taken back at will, she could even make the company borrow money from a bank or other lender and get her personal treasury reimboursed. Link to comment Share on other sites More sharing options...
benjii Posted 29 July, 2014 Share Posted 29 July, 2014 It's her company, she can wind it up and take all the assets if she wants. Link to comment Share on other sites More sharing options...
KingdomCome Posted 29 July, 2014 Share Posted 29 July, 2014 Of course she's loaned money to the company. 33 million was converted to equity about 3 years back, all the rest of the advances made by KL to St Marys Football Group or whatever is are loans, they can be taken back at will, she could even make the company borrow money from a bank or other lender and get her personal treasury reimboursed. Are they still loans or were they converted to equity? If they are still loans then of course she can demand repayment. She can't demand repayment of the loans that were converted to equity. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 29 July, 2014 Share Posted 29 July, 2014 (edited) Are they still loans or were they converted to equity? If they are still loans then of course she can demand repayment. She can't demand repayment of the loans that were converted to equity. 33 million was converted to equity when the Liebherr estate was still in probate, perhaps that was a sum that ML had earmarked for us. AS far as I know and I'm sure that those that follow the club account will confirm this all the rest (maybe about 60 million even if as Egg said she ploughed in another 28 million in April last) are loans and she obviously wants the money back. Other than that look at the thread I posted up, the wise men explain it there. Clapham Saint is a real illuminati on these things, whatever he says is 1000% gospel. Edited 29 July, 2014 by Window Cleaner Link to comment Share on other sites More sharing options...
ToreSF Posted 29 July, 2014 Author Share Posted 29 July, 2014 What I'm reading from this is that there is a realistic chance for Kat to be recouping what she and her father spent on the club. Selling our star players, taking dividend from profits/taking back loan sums, buying a couple of new ones to keep us up, before selling within a year. In my head, this is the only thing that makes sense. It's totally unrealistic that the club was/is unable to keep some of the players that has left/is leaving at least for another season. Link to comment Share on other sites More sharing options...
IronCitySaint Posted 29 July, 2014 Share Posted 29 July, 2014 Of course she's loaned money to the company. 33 million was converted to equity about 3 years back, all the rest of the advances made by KL to St Marys Football Group or whatever is are loans, they can be taken back at will, she could even make the company borrow money from a bank or other lender and get her personal treasury reimboursed. I have not been following the timeline in great detail, but wasn't the trust fund in control of the club at that point? If it was money from the trust fund then that was setup solely to finance the club and KL would have no claim to that money. I don't know whether she would technically have a claim to it but certainly would not morally have a claim. Link to comment Share on other sites More sharing options...
ToreSF Posted 29 July, 2014 Author Share Posted 29 July, 2014 This article from january seems relevant today: "With the death of the patron, the chicken has lost its head. For a while it continued wandering around without a sense of direction, then it bled to death." http://www.theguardian.com/football/2014/jan/16/katharina-liebherr-southampton-football-owner-german-markus Link to comment Share on other sites More sharing options...
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