Argyle debts

Subject: Argyle debts Fri Sep 26, 2014 6:27 pm

PCC to loan Argyle £800,000 to pay debts, (cannot link to the Brent Herald on my tablet)

Evans out Brent out

Posts : 59 Join date : 2014-09-21 Age : 28

So Brent has to find £700,000 to pay off the rest of the balloon payment.

Subject: Re: Argyle debts Fri Sep 26, 2014 6:38 pm

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Guest

What the actual feck?

So Brent doesn't have a pot to piss in or he simply doesn't want to pay the debt and we're still led to believe he is the saviour?!

We've been sold up the garden path yet again.

Feck off Brent.

Posts : 752 Join date : 2012-01-23

What happens if the creditors don't accept the 50% offer?

Posts : 3235 Join date : 2014-09-25

Unbelievable, I'm still struggling to comprehend what I've just read scratch

Posts : 1321 Join date : 2013-04-06

'erald link

Two thoughts.

Will the Football League FA et al accept this as goes against the football creditor rule that debts had to be paid in full?

How much did JB & co pay for HHP land which has now been valued at over £800K?

Posts : 1201 Join date : 2011-12-23

As far as I am aware there can be no offer on Football Creditor debt. The law as it stands says that the Football Creditor Debt must be paid in full (or arrangements agreed to pay the debt in full) before a CVA can be agreed. Breaking this agreement could mean the CVA is no longer valid. It is also a condition of obtaining the Golden Share that an arrangement is in place to pay the football creditor debt in full. This just isn't ringing true.

Posts : 1201 Join date : 2011-12-23

The only land which he owns is the car park which, if memory serves, he paid £460k.

Posts : 1321 Join date : 2013-04-06

Damon.Lenszner wrote:: The only land which he owns is the car park which, if memory serves, he paid £460k.

That was the figure I had in back of mind. Shame PCC didn't employ same valuers when they sold it to them

Guest

eeeeeeee saved us popcorn

Guest

So it really was HHP or nothing then with the plan being the extra revenue gained from that would pay for the creditor debt?

Who is the brain dead moron who even gave Brent the stupid idea HHP would ever work in the first place?

Promotion this season or we have no club me thinks.

Gareth Nicholson (i think it was him, apologies if not) was 100% spot on with that tweet. If the club falls then Brents band of merry yes men deserve as much of the blame.

Posts : 10244 Join date : 2011-10-23

From the tone of the statement, Argyle seem pretty sure the creditors will accept this offer?

I'll give Brent this....he's got some fckin neck.

Posts : 1321 Join date : 2013-04-06

green_genie wrote:

Damon.Lenszner wrote:: The only land which he owns is the car park which, if memory serves, he paid £460k.

That was the figure I had in back of mind. Shame PCC didn't employ same valuers when they sold it to them

the beeb link

Actually £426K..

How it has doubled in worth when its been demonstrated that it is not a prime development plot is astounding

Posts : 10244 Join date : 2011-10-23

So in simplistic terms, they're hoping that a creditor that is due 100k (for example) in Oct '16, will accept 50k NOW.

If i was a creditor, unless I was pretty desperate, I'd tell him to feck right off.

Posts : 1321 Join date : 2013-04-06

Czarcasm wrote:: So in simplistic terms, they're hoping that a creditor that is due 100k (for example) in Oct '16, will accept 50k NOW.

If i was a creditor, unless I was pretty desperate, I'd tell him to feck right off.

Got it !!!!

It was Pieface's idea !!!

Posts : 1586 Join date : 2013-03-24 Age : 27

Yea Man wrote:: We've been sold up the garden path yet again.

My thoughts entirely.

Including the Pavilions and the HP rent and rates rebate, how much have we council tax payers handed over (whether it's been given or lent) to him now?

Very reasonable rate of interest, too.

Posts : 1236 Join date : 2011-06-07 Age : 59

Could this lead you back to Admin again ?

Posts : 1321 Join date : 2013-04-06

As this deal would break the football creditors rule I would have thought FA and FL would be reluctant to sanction it.

If they did I would expect HMRC to come sniffing around as PAFC would have broken conditions of the original CVA.

Posts : 2614 Join date : 2013-11-21 Age : 63

How much interest was/is this 800k earning PCC at the moment?

Posts : 1573 Join date : 2011-10-07 Age : 111

green_genie wrote:

Damon.Lenszner wrote:: The only land which he owns is the car park which, if memory serves, he paid £460k.

That was the figure I had in back of mind. Shame PCC didn't employ same valuers when they sold it to them

the beeb link

Actually £426K..

How it has doubled in worth when its been demonstrated that it is not a prime development plot is astounding

£700K on another site.

Posts : 998 Join date : 2013-08-23

So despite having an income three or four times that of our fellow clubs in League Two & a squad cobbled together of rejects & no hopers the club still can't retain enough money to pay their own debts. What an absolute disgrace !

If what's being said over the road is correct, PCC's loan is "secured" against Brent's failed & now virtually worthless HHP site. Good luck with that PCC :/

Perhaps if PCC had been so accommodating with our last owners we would not have got into such a mess first time around & type of "owner" we now find ourselves with.

Posts : 1321 Join date : 2013-04-06

Moist_Von_Lipwig wrote:

green_genie wrote:

Damon.Lenszner wrote:: The only land which he owns is the car park which, if memory serves, he paid £460k.

That was the figure I had in back of mind. Shame PCC didn't employ same valuers when they sold it to them

the beeb link

Actually £426K..

How it has doubled in worth when its been demonstrated that it is not a prime development plot is astounding

£700K on another site.

Headline was raising £700K but it wasn't all from HHP prurchase

"A firm run by Brent, Holliday and lawyer Anthony Vaughan has bought land at Home Park for £425,000, with Brent taking an 82.5% stake in the firm.
Holliday and Vaughan have also bought shares in Argyle worth £275,000"

Posts : 2406 Join date : 2012-01-05

Czarcasm wrote:: So in simplistic terms, they're hoping that a creditor that is due 100k (for example) in Oct '16, will accept 50k NOW.

If i was a creditor, unless I was pretty desperate, I'd tell him to feck right off.

I think your take is how I take it. 50% now. As for the CVA linked football creditors and the rule (not confirmed by checking) that football creditors must be paid in full - well surely if a creditor fronts up to the FL and says ''I am no longer a creditor'' then the FL can't insist on it being in the ballon payment. If they did then where would the money go on collection? I think most creditors will take it.
I'm not a financial or business wizard and I try not to take sides when it comes to JB but the £2 mill ballon was worrying. Its now far less (if at all) and the fact that the installments have all been met is encouraging. The future of our club appears a bit more healthy.
As for JB, well, we can shout and scream all we like but he is the owner and will remain so until someone buys him out.
My brain cells are now focussed on Accy. (Correction - brain cell)

Posts : 6420 Join date : 2014-06-01 Location : Brentocabin

Non action man runs rings around shit local council, shock horror. Coming together nicely.

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