Argyle's Sponsor in Trouble?

Cheers Ian

Winter Green wrote:

The most interesting comment of Niikkkkkkyboy was that whatever contracts originally signed between FES and Argyle are now to be taken on as his personal responsibility. That may well have a bearing on matters. Thanks for the info IR.

Exactly. The costs of the substantial 6 figure paid monthly sponsorship of the FES RIP Devonport End is being paid by Nikk. Argyle have to be grateful for that. Lost income in times of austerity and whilst trying to bring in a striker worthy of the name would be awful.

greensleeves wrote:

another voice of sanity in a sea of garbage gone.. iggy outed him i believe  you guys must be wanking yourselves silly....

On the contrary. I have it on good authority the Mods are bunkered down as we speak and holding crisis talks as to how ATD can overcome such a flounce.

Early signs are that we might just about pull through.

Will Pasoti fall over this latest blow to their Credibility ? More people post on this site from what I can see. Their future as official forum to PAFC must be hanging by a thread.
They must be wringing their hands over Nik Barrons desire to red card them and post here ?

IanRedington wrote:

Czarcasm wrote:

Anyway, back on topic. Is it today that the Court Hearing takes place?

The case was adjourned until March.

Thanks for that info, Ian.

Czarcasm wrote:

greensleeves wrote:

Czarcasm wrote:

greensleeves wrote:

another voice of sanity in a sea of garbage gone.. iggy outed him i believe  you guys must be wanking yourselves silly....

On the contrary. I have it on good authority the Mods are bunkered down as we speak and holding crisis talks as to how ATD can overcome such a flounce.

Early signs are that we might just about pull through.

Sarky twats dont come any bigger than you on this website. Go into a dark corner and toss yourself off.

Thanks mate.  

Well played sir !   

So, anyway, what's the latest on ATD's very own Nikk, a guy that appreciates a great forum!   

GOB wrote:

So, anyway, what's the latest on ATD's very own Nikk, a guy that appreciates a great forum!   

The case has been adjourned until March according to Ian Redington

Cheers Punch.

FYI, I have this information, because I was at the court hearing.

www.loantalk.co.uk - update for Nikk's industry, nothing new for us tho.

Quote :

One of the industry’s most infamous secured lenders has collapsed into liquidation following an ongoing battle...

First European Securities (FES) has officially appointed liquidators for the company, following a winding-up petition from a group labelled ‘Waltham Forest Friendly Society’.

The lender had reportedly been riddled with controversy over funding issues, however the company has now decided not to contest the winding-up order and instead opt for voluntary liquidation.

Despite a court case on Monday morning adjourning the petition until the 17th March, FES has officially appointed Ian Yerrill of Yerrill Murphy LLP as liquidator.

Initial estimations and comments on a variety of publically available forums suggested Director Nik Barron was set to contest the petition; however at the 11th hour, after consulting with legal professionals, Mr Barron decided to opt for a voluntary liquidation.

Yet, in an email to operators of a football club’s fan forum, on the 19th December, Nik reassured fans that the company was “not in liquidation”. However according to the London Gazette, provisional liquidation measures were introduced on the 10th December 2013 – one day after Nik or “Nick” had established his new project, First International Lending.

The adverse lender had already been surrounded with financial difficulties, with reports emerging over the lender’s ability to fund deals.

Brokers in touch with Loan Talk had raised such concerns after supposedly forwarding deals and not receiving replies.

Back in 2009, FES was forced to issue a reassuring statement to the intermediary world, claiming that new funding was on the way and business was open as usual.

However, Loan Talk revealed back in December 2013, that there had been a shake-up on the board, with two directors joining the lender before leaving almost immediately two weeks later.

Many believe this may have been a funding agreement that went wrong, although reports have still yet to be confirmed.

The story thickens further, with FES being the primary sponsor behind second division football club, Plymouth Argyle.

FES sponsor shirts, stadium stands and a host of other activities bearing the Plymouth Argyle name.

As a result, many fans had taken to the club’s two supporter’s forums to raise concerns over the integrity of FES, forcing Nik on many occasions to post responses.

Finally late on Sunday night, Nik posted the following statement:

“Hi,

I thought I would take a few minutes to update and explain the position with FES.

As you may know there is a hearing on Monday to consider a winding up petition which would have also been linked with an application from

Ourselves covering several matters and an application to adjourn with a view to set aside the petition.

After a week or so of consideration and advice we have decided not to oppose the petition and we have spoken to the claimants legal team

and agreed that FES will be wound up on Monday without opposition.

Both parties need to move on now . This has been an extremely upsetting and unpleasant period for all concerned and I am not prepared to extend it.

This entire episode started as a result of a serious internal dispute that has sadly become personal and various parties have been pulled into the matter on the basis of various claims that are simply untrue and this has resulted in the petition.

We will deal with these claims beyond this action.

I have read various references to me and FES using "other peoples money " in it's support of the club. This is absolutely not correct. FES as a company and myself where relevant have acted entirely properly both in support of the club and other interests over a substantial period of time.

I am aware that this matter could easily drag on for months and months with court case after court case, and even if the position at FES was restored to its original state the damage done is considerable and we are of the opinion that the claims, counterclaims and disputes are beyond being sorted without a line being drawn.

Legal costs are enormous to date, as is the reputational damage and with the bank accounts frozen for several months now this is causing additional difficulties for all concerned and is creating an exaggerated "debt" position.

So FES will close business on Monday and I will continue in the direction that I wish to and my previous partner, directors and investors will do the same. My previous directors have already formed new companies in this regard.

Very importantly...

No staff are affected, no investors have or will loose any money, no local companies have or will loose anything. The charities and local clubs etc. Will continue to be supported albeit not under the FES name.

And I will continue in my development of FIL and other companies with the support of some of the previous FES investors and new institutions.

The Argyle position is very clear. There is nor will there be any impact on the club financially from these issues. The support is from me regardless of the brand being promoted.

My intention to support the club and other interests through FIL , me Nik Barron, or whatever entity for that matter will continue whatever issues we have to deal with in the short term

I hope this at least clarifies where I am in this matter.

Cheers,

Nik.”

So now FES will be removed from the advertising boards and be replaced with "Nikk Barron"? Or is it 'Nik' these days?

Why did he call Nikkk Quote "One of the industry’s most infamous secured lenders"

(and we nearly had our name mention)

Tgwu wrote:

Why did he call Nikkk Quote "One of the industry’s most infamous secured lenders"

I picked up on that too. Has FES some sort of reputation? 'Infamous' has all sorts of connotations.

Person Of Interest wrote:

Tgwu wrote:

Why did he call Nikkk Quote "One of the industry’s most infamous secured lenders"

I picked up on that too. Has FES some sort of reputation? 'Infamous' has all sorts of connotations.

Did not think in was FES but Nikkk himself, I may be wrong.

I thought that the previously offshore company was set to FIL the void ?

A glance at Pasoti would appear to confirm this ?

Is FIL up and trading ?

Tringreen wrote:

I thought that the previously offshore company was set to FIL the void ?

A glance at Pasoti would appear to confirm this ?

Is FIL up and trading ?

It hasn't yet launched 'officially', though my sources tell me this is but weeks away.

IanRedington wrote:

Tringreen wrote:

I thought that the previously offshore company was set to FIL the void ?

A glance at Pasoti would appear to confirm this ?

Is FIL up and trading ?

It hasn't yet launched 'officially', though my sources tell me this is but weeks away.

Thanks.

Yet it is and always has been FIL, and not FES, sponsoring the DJM League.

Dingle wrote:

Yet it is and always has been FIL, and not FES, sponsoring the DJM League.

You have to wonder how this will effect FIL?

Damon.Lenszner wrote:

www.loantalk.co.uk - update for Nikk's industry, nothing new for us tho.

I wonder what FES has done to achieve 'infamy' in the world of lending?

We should be careful making judgements, as we don't know who the author of that piece is and whether he has personal interests.

to me this looks like FES folding was known well in advance hence FIL appearing out of no where to take over sponsorships like DJM and that crap forum pasoti.