FES & Nikkk Q&A

Hi,

I would like to update the FES position this afternoon but have to send an email to the mod account, and would be really grateful if you could copy it here. I will pop it over now.
Thanks.
Nik

So FES is to be wound up after all.

I think any damage to Niks reputation in all this stems largely not from the nuts and bolts of the dispute, but from the repeated denial that anything was untoward.

[quote="Czarcasm"]So FES is to be wound up after all.

I think any damage to Niks reputation in all this stems largely not from the nuts and bolts of the dispute, but from the repeated denial that anything was untoward.

[/quo

No it's more how things have developed beyond the initial issues which I really did think could be resolved.
]

The statement can be seen on Pasoti if anyone wants to read it.

It appears the sponsorship money has come from Nikkks personal bank accounts and not from FES. So it seems Argyle have been receiving their monthly instalments.

RIP The FES Devonport End

I think I would prefer to get my updates from the Justice Courts, they are factual.

BTW well spotted SFD, you were 100% correct so it now seems.

If no one has lost any money I assume the petitioners in the case have got what they are owed?

I assume that James Brent, the purveyor of transparency at Argyle, knew that the money was coming personally from Nikkk and not from the brands/companies FES or FIL

Dougie wrote:

If no one has lost any money I assume the petitioners in the case have got what they are owed?

Its a really complex claim mate that involves retained profits within the loan books that will be attributed now. I,m not going to bore you to death but this course does resolve
Matters when everything is unscrambled.

Quote :

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.

Thanks for that Dougie, I was just about to copy it from Pasoti as we haven't received the email yet.

Also thanks to Nikkk for rejoining ATD to help explain what is happening and hope you will keep your account so if there is any special news or issues that arise in the future you are able to come on here and explain your side of the story.

I still think there has been too much confusion over where monies have been going throughout the whole Pasoti/GT "fundraising" thing that has used all the language of charitable giving, which of course it wasn't. It's one thing to sponsor a football club as FES has done, business has always done it, but it's quite a different thing for proceeds of Pasoti "auctions" that were strange to say the least, to be put toward a "staff fund", which basically was continually represented by Pasoti to be paying off PAFC's employees, allbeit through some strange loan/future community project thing. Very messy.
Sponsorship can rightly be seen as a value for money advertising with a tangible return. Paying off someone else's employees is quite different in my mind.

Winter Green wrote:

I still think there has been too much confusion over where monies have been going throughout the whole Pasoti/GT "fundraising" thing that has used all the language of charitable giving, which of course it wasn't. It's one thing to sponsor a football club as FES has done, business has always done it, but it's quite a different thing for proceeds of Pasoti "auctions" that were strange to say the least, to be put toward a "staff fund", which basically was continually represented by Pasoti to be paying off PAFC's employees.
Sponsorship can rightly be seen as a value for money advertising with a tangible return. Paying off someone else's employees is quite different in my mind.

I can only say that I was really affected by the fact that the staff were not paid for so long and I was aware how bad things were for so many. So did a little bit in a fun way to assist. As of course did many others. The kids chucking pocket money into buckets really got to me.

Winter Green wrote:

I still think there has been too much confusion over where monies have been going throughout the whole Pasoti/GT "fundraising" thing that has used all the language of charitable giving, which of course it wasn't. It's one thing to sponsor a football club as FES has done, business has always done it, but it's quite a different thing for proceeds of Pasoti "auctions" that were strange to say the least, to be put toward a "staff fund", which basically was continually represented by Pasoti to be paying off PAFC's employees, allbeit through some strange loan/future community project thing. Very messy.
Sponsorship can rightly be seen as a value for money advertising with a tangible return. Paying off someone else's employees is quite different in my mind.

From what Nikk has written FES didn't sponsor the football club. He paid he money himself and took the opportunity to attach The FES name to his generosity.

You are correct about the blurred lines and the mythical community project thing.

I'm trying to understand the 'classification' of this liquidation.

And what of FES' sponsorship manager? Is he actually Nikk Barrons sponsorship manager?

I don't blame you Nik, and good on you. To be almost coerced into working that long without pay to create admin leverage was absolutely scandalous. Many filled buckets, and good on them. But it can be seen under a different light, and others, like myself, refused to contribute to that fund as it basically meant taking on the responsibility for the former obligations of very rich men who were looking to secure their funds for the future after admin. I kept my contributions to paying off the likes of St John Ambulance.

Winter Green wrote:

I don't blame you Nik, and good on you. To be almost coerced into working that long without pay to create admin leverage was absolutely scandalous. Many filled buckets, and good on them. But it can be seen under a different light, and others, like myself, refused to contribute to that fund as it  basically meant taking on the responsibility for the former obligations of very rich men who were looking to secure their funds for the future after admin. I kept my contributions to paying off the likes of St John Ambulance.

Understand where you are coming from.

Glad you have joined argyle's only independent fans forum nik, i hope you stay! however the questions you might face will be real and honest, this forum is not heavily censored like the nool/brent forum. and we dont do valentine dinners for the very very sad. 

How on earth did the PAYE and employees and employers NI contributions get sorted out, it must have been a nightmare.

Who will be paying the bill to remove all the FES signs from Home Park, and what will replace them?

PatDunne wrote:

Who will be paying the bill to remove all the FES signs from Home Park, and what will replace them?

I think the question is rhetorical

PatDunne wrote:

Who will be paying the bill to remove all the FES signs from Home Park, and what will replace them?

It hasn't been discussed yet. I'm sure we will have meetings next week to decide the best way forward.

I hope Nikk doesn't come in for the Damon treatment from some of the bovver boys in the directors box!

nikkk wrote:

Winter Green wrote:

I still think there has been too much confusion over where monies have been going throughout the whole Pasoti/GT "fundraising" thing that has used all the language of charitable giving, which of course it wasn't. It's one thing to sponsor a football club as FES has done, business has always done it, but it's quite a different thing for proceeds of Pasoti "auctions" that were strange to say the least, to be put toward a "staff fund", which basically was continually represented by Pasoti to be paying off PAFC's employees.
Sponsorship can rightly be seen as a value for money advertising with a tangible return. Paying off someone else's employees is quite different in my mind.

I can only say that I was really affected by the fact that the staff were not paid for so long and I was aware how bad things were for so many. So did a little bit in a fun way to assist. As of course did many others. The kids chucking pocket money into buckets really got to me.

I've long said this 'charitable' Pasoti/Gt thing is going to cause massive problems tax wise down the line


The money thrown into buckets, I believe was handed over as 'GT' money, to pay the staff fund and has to be repaid or suffer tax consequences.

If you don't mind me asking... What is the situation with the money you have 'given' Argyle and the tax situation? Any idea what the money was used for?

And of course the million dollar question... How much did you give?

May I ask whether there is a distinction between the action taken by the "Friendly Society" and that taken by the ex-directors?

PS edited to add. Thanks for coming on here to answer questions again. That has got to be worthy of respect.