Sat is a room with the biggest set of fools ever (shareholders)

[Sean Thornton]

Didn't the skeletons also suggest that Party B was happy to let a debt go unpaid in order cause the club financial damage and FL action against us?

I was just going to make that same alleged point. Possible insolvency proceedings strengthening their plan. Luckily McCabe saw through it and got to court on the last day repayment was due.

 

[Sean Thornton]

It worries me that if the prince wins, it’s going to be very toxic regardless of what his true ambitions are for the club. He won’t stand a chance

IF, part of the plan was to push the club towards insolvency, does he deserve one?

 

[Esablade]

Some pretty twisted interpretations of what it says in the skeletons and court documents on here today.

In essence, allegedly, Party B was 1.6 million behind Party A on funding by the end of 2016. Still hadn't been sorted by the end of 2017 when it all kicked off due to various disagreements and unpleasantness. Party A had enough of all this and wanted out and alleges it was duped into a low offer knowing Party B had the right to make an equivalent binding offer for the same price but B then pulled that unexpected "manoeuver".

Party A alleges circumstances surrounding non payment of the 1.6 m loan if it had gone on could have got us in trouble with a potential points deduction!!!!. Some allegations of B possibly engineering a situation to gain control on the cheap through this.

Recently Party A pushes for further investment in the team, Party B wants less investment.

Just read the documents, its pretty obvious whats going on and who the good and bad guys are.

By the way McC knockers, what he did with separating the assets from the team was just what any smart business person would do to guard against asset strippers later on and keep these out of their reach, just what I would have done, looks like no one was expecting that dodgy "manoeuver" though.

May well be that Party B doesn't want the assets cos they could invest the same money elsewhere in property and get a better return, footy clubs don't give a great return, and for a supposed billionaire to dodge buying the assets is another reason to doubt their good intentions and silence.

Doesn't smell good and please show the good guy some due respect, very clear who it is.

While it’s great to hear your opinion and a re-cap of McCabes skeleton argument, don’t you think it’s taking the piss to offer Princey £5 million for his shares?

Half of what he paid when we were a league 1 club?

 

[South Bucks]

While it’s great to hear your opinion and a re-cap of McCabes skeleton argument, don’t you think it’s taking the piss to offer Princey £5 million for his shares?

Half of what he paid when we were a league 1 club?

Thing is McC knew perfectly well from the skeletons whatever he offered party B they could return with the same offer and their second offer would be binding and trump his. The allegation is A was duped into making a low offer on the understanding the same counter offer would bounce back which i guess is why it was only a few million. So McC was offering his half of BL for 5 m when he'd put in 17 m plus earlier monies which either smacks of someone keen to get out or is calling out Party B and saying either accept 5 m and get lost or buy me out. Seems like asking 5 m for something you've spent 17 m plus plus was not a bad offer for me.
What I guess from this is if there was another buyer C waiting in the wings with more money either A or B could have bought all of BL for 5 m and then sold it on so I'm guessing there is no third party C or this would have happened. No one loves us enough.

 

[Revolution]

Some pretty twisted interpretations of what it says in the skeletons and court documents on here today.

In essence, allegedly, Party B was 1.6 million behind Party A on funding by the end of 2016. Still hadn't been sorted by the end of 2017 when it all kicked off due to various disagreements and unpleasantness. Party A had enough of all this and wanted out and alleges it was duped into a low offer knowing Party B had the right to make an equivalent binding offer for the same price but B then pulled that unexpected "manoeuver".

Party A alleges circumstances surrounding non payment of the 1.6 m loan if it had gone on could have got us in trouble with a potential points deduction!!!!. Some allegations of B possibly engineering a situation to gain control on the cheap through this.

Recently Party A pushes for further investment in the team, Party B wants less investment.

Just read the documents, its pretty obvious whats going on and who the good and bad guys are.

By the way McC knockers, what he did with separating the assets from the team was just what any smart business person would do to guard against asset strippers later on and keep these out of their reach, just what I would have done, looks like no one was expecting that dodgy "manoeuver" though.

May well be that Party B doesn't want the assets cos they could invest the same money elsewhere in property and get a better return, footy clubs don't give a great return, and for a supposed billionaire to dodge buying the assets is another reason to doubt their good intentions and silence.

Doesn't smell good and please show the good guy some due respect, very clear who it is.

The legal dispute at its heart is not about good and bad guys. It's about whether the Prince can buy the club without also buying the ground and academy.

And irrespective of McCabes motives in splitting ground and club ownership, this dispute is a direct result of that decision.

 

[Revolution]

Thing is McC knew perfectly well from the skeletons whatever he offered party B they could return with the same offer and their second offer would be binding and trump his. The allegation is A was duped into making a low offer on the understanding the same counter offer would bounce back which i guess is why it was only a few million. So McC was offering his half of BL for 5 m when he'd put in 17 m plus earlier monies which either smacks of someone keen to get out or is calling out Party B and saying either accept 5 m and get lost or buy me out. Seems like asking 5 m for something you've spent 17 m plus plus was not a bad offer for me.
What I guess from this is if there was another buyer C waiting in the wings with more money either A or B could have bought all of BL for 5 m and then sold it on so I'm guessing there is no third party C or this would have happened. No one loves us enough.

No, McCabe made a low offer because he thought that even if the Prince was prepared to buy the shares for that low price, in buying the shares he would be compelled to buy the ground too, at market rate, so McCabe would make money that way. The Dispute has arisen because the Prince claims he doesnt need to do this because the company who will be buying no longer owns the percentage of shares needed to trigger the ground purchase (a situation that could have been avoided with better drafting, although I was not privy to the negotiations so don't know if this was contemplated).

 

[South Bucks]

The legal dispute at its heart is not about good and bad guys. It's about whether the Prince can buy the club without also buying the ground and academy.

And irrespective of McCabes motives in splitting ground and club ownership, this dispute is a direct result of that decision.

So if I sold you my car and after we had agreed a price and contract and you'd sent the cheque I told you 3 of the wheels are owned by someone else would people think I'm a good guy or a bad guy. I'd expect a brick through my window soon after.

 

[Revolution]

IF, part of the plan was to push the club towards insolvency, does he deserve one?

He and his legal team at Jones Day have been laying the foundations for discord for months. It was manifestly conduct designed to achieve a court ordered buyout of one side or another at some point if the Prince didn't get what he wanted by negotiation. The manoeuvre with the buyout clauses is also part of this.

 

[Revolution]

So if I sold you my car and after we had agreed a price and contract and you'd sent the cheque I told you 3 of the wheels are owned by someone else would people think I'm a good guy or a bad guy. I'd expect a brick through my window soon after.

That analogy is not of any relevance to the legal dispute.

 

[South Bucks]

That analogy is not of any relevance to the legal dispute.

Its at the heart of the case coming up in 2019.

 

[Harrisblade]

No, McCabe made a low offer because he thought that even if the Prince was prepared to buy the shares for that low price, in buying the shares he would be compelled to buy the ground too, at market rate, so McCabe would make money that way. The Dispute has arisen because the Prince claims he doesnt need to do this because the company who will be buying no longer owns the percentage of shares needed to trigger the ground purchase (a situation that could have been avoided with better drafting, although I was not privy to the negotiations so don't know if this was contemplated).

Selling the ground at market rate is the only way McCabe will get any money back at all.
The shares are essentially worthless bits of paper with only a nominal value.
His investment in us will still have cost him millions (even if he gets absolute top dollar market rate)

 

[Esablade]

Thing is McC knew perfectly well from the skeletons whatever he offered party B they could return with the same offer and their second offer would be binding and trump his. The allegation is A was duped into making a low offer on the understanding the same counter offer would bounce back which i guess is why it was only a few million. So McC was offering his half of BL for 5 m when he'd put in 17 m plus earlier monies which either smacks of someone keen to get out or is calling out Party B and saying either accept 5 m and get lost or buy me out. Seems like asking 5 m for something you've spent 17 m plus plus was not a bad offer for me.
What I guess from this is if there was another buyer C waiting in the wings with more money either A or B could have bought all of BL for 5 m and then sold it on so I'm guessing there is no third party C or this would have happened. No one loves us enough.

McCabe also knew that Princey didn’t want to buy the assets...

To me it looks like he’s he’s tried to fuck Princey over to get the club back on the cheap and it’s backfired...as Princey has found a way round it.

 

[Revolution]

Its at the heart of the case coming up in 2019.

No it isn't.

 

[BladeInIreland]

So it seems the prince can't afford to but out McCabe, and McCabe can't afford to offer the prince a fair price for his shares. And I doubt anyone is willing to pay 100+ mill to buy them both out.
Is the ground rental not the only realistic solution to the mess?

 

[South Bucks]

Flat earth society are in tonight.

 

[Esablade]

Flat earth society are in tonight.

Ie: people who disagree with your interpretation of events...

 

[Revolution]

Flat earth society are in tonight.

If that's a dig at me, all I will say is I explained in the original thread on this what the underlying dispute is about. I'm confident that explanation is correct and I've read nothing on this thread that changes my view. If you think I'm wrong, fine. I won't waste my time trying to help people understand what's going on any more.

 

[South Bucks]

Ie: people who disagree with your interpretation of events...

and Justice Fancourt's lengthy introduction to the main and 2018 case and how it will be handled.
If people have agendas irrespective of the written words of a judge then its their choice so lets all believe whatever fake news we want to believe.
I was just trying to help having read most of it.

 

[Esablade]

and Justice Fancourt's lengthy introduction to the main and 2018 case and how it will be handled.
If people have agendas irrespective of the written words of a judge then its their choice so lets all believe whatever fake news we want to believe.
I was just trying to help having read most of it.

Yep, but you quoted McCabes skeleton argument, not the judges intro, right?

We’ll see how it pans out if it gets that far...it’s all abaht opinions..

 

[8lade]

I don't know why people are still saying they don't understand the prince's intentions for the club. Very little in life is black and white but like him or hate him the prince has made this clear from day one:
It is an investment for him.
Now I don't know if this needs to be in capitals or bold or what because people don't seem to accept this.
It appears that McCabe thought he could win him over but hasn't, it is still a vehicle for him to make money.

 

[Snowman]

McCabe also knew that Princey didn’t want to buy the assets...

To me it looks like he’s he’s tried to fuck Princey over to get the club back on the cheap and it’s backfired...as Princey has found a way round it.

Well you would wouldn't you.

And prince hasn't tried to get it on the cheap by the manoeuvre?

 

[BladeInIreland]

I don't know why people are still saying they don't understand the prince's intentions for the club. Very little in life is black and white but like him or hate him the prince has made this clear from day one:
It is an investment for him.
Now I don't know if this needs to be in capitals or bold or what because people don't seem to accept this.
It appears that McCabe thought he could win him over but hasn't, it is still a vehicle for him to make money.

I see this as a positive, the only way this works out to be a successful venture for the prince is if we are either in the premier league, or someone filthy rich buys us off him. I'd be happy with either and I'm sure he has those rich contacts.

 

[YES Blade]

Thankfully the season is only a week ago!

This legal dispute is boring as fuck!

 

[Sean Thornton]

He and his legal team at Jones Day have been laying the foundations for discord for months. It was manifestly conduct designed to achieve a court ordered buyout of one side or another at some point if the Prince didn't get what he wanted by negotiation. The manoeuvre with the buyout clauses is also part of this.

And it's now in legal limbo. McCabes original offer is off the table so there isn't an agreed share price to start off with, let alone the asset valuation. Not only that, the Orince wants the rent to stay the same at the moment, or at least until the current lease runs out.

 

[Marcus Tullius Cicero]

What about my forum input?

Hold on, I spunked a few hundred quid on shares but have never been invited to a share holders meeting, mind you if they are going on forum input I can understand why. Seriously though, should I have received some kind communication from the club through the years letting me know such meetings are being held? Perhaps I have neglected to inform the club of a change of address.. Anyway McCabe, you total arse how the hell, with your supposed business knowledge have allowed yourself to get pushed into a corner. Idiot.....

 

[Isaw Joeshaw]

Thankfully the season is only a week ago!

This legal dispute is boring as fuck!

Fuking 'ell , I missed that one completely.

How did we get on ?

 

[bladesmanluke]

IF, part of the plan was to push the club towards insolvency, does he deserve one?

No and I’m not saying he does deserve a chance. I’m very concerned about what he’d do and hope McCabe wins this one, but I’d like to hope his ambitions are genuine. That’s all we can do after all.

 

[YES Blade]

Fuking 'ell , I missed that one completely.

How did we get on ?

Lost

 

[Esablade]

Well you would wouldn't you.

Try and fuck your business partner over while he still holds 50% of the shares you want?

Well no, personally I wouldn’t...I guess McCabe thought he had a Princey over a barrel, it looks to have backfired somewhat...

And prince hasn't tried to get it on the cheap by the manoeuvre?

Well yes, this is the interesting thing isn’t it, the timeline...did Princey pull this stunt after McCabe’s piss take offer?

 

[Snowman]

Try and fuck your business partner over while he still holds 50% of the shares you want?

Well no, personally I wouldn’t...I guess McCabe thought he had a Princey over a barrel, it looks to have backfired somewhat...





Well yes, this is the interesting thing isn’t it, the timeline...did Princey pull this stunt after McCabe’s piss take offer?

No he couldn't. Read the material.