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| The All New Sevco Back in Yer Bin Thread; Taking out the trash | |
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| Topic Started: 29 Apr 2018, 04:24 PM (2,086,621 Views) | |
| corsica1968 | 11 Jun 2018, 09:24 AM Post #8221 |
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Occasional Substitute
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Say you are a glib and shameless liar. Say you have also told lots of people you have difficulty releasing capital or moving money. Say you stood as guarantor to a loan to someone who couldn’t get a loan otherwise or even provided the funds yourself at a “reasonable” interest rate. Say the quantum of that loan was loaned to a business you had significant interest in. Say borrower defaulted on repayments. Would you be quids in either way? Just a thought... Edited by corsica1968, 11 Jun 2018, 09:26 AM.
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| Paul Allen | 11 Jun 2018, 09:55 AM Post #8222 |
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Occasional Substitute
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It'll be fun to see how they try to get him off the books whilst attempting to make it look like they have done 'a good bit of business' or Gerrard has shown some 'shrewd management'...
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| DhenBhoy | 11 Jun 2018, 10:21 AM Post #8223 |
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Everyone's Fantasy Football first pick
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I doubt Club1872 can use Edminston House as security as they do not own it as far as I am aware? Is it not still the property of RIFC? I doubt generating ideas or interest qualifies for a loan to purchase shares in a company that is financially up shampoo creek without a canoe, never mind paddles. |
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| alexw123 | 11 Jun 2018, 10:32 AM Post #8224 |
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It's Only a Game
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Nothing would surprise me about Club 1872, but I just can't see how they could get a loan of any sort without an income stream or a business model. Which means the story is made up or it's not a recognised financial services organisation putting up the money. And the office bearers couldn't enter into that arrangement without proving the agreement of the members. They wouldn't do it in secret, would they? It's a bit of a stink if they have. |
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| Danny Ghirl 67 | 11 Jun 2018, 10:38 AM Post #8225 |
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First name on the team-sheet
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Is Edmiston House not already subject to a charge for one of the loans? In addition, Edmiston House CIC is 'interesting.' Or at least, their articles of association or similar are. And of course, one person is connected with all three - Club/company, CIC and C1872. |
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| Kingslim | 11 Jun 2018, 12:39 PM Post #8226 |
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69 and counting
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You’d think If it was garbage, they’d have a statement out. After all, they do like a statement |
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| DhenBhoy | 11 Jun 2018, 12:39 PM Post #8227 |
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Everyone's Fantasy Football first pick
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Close Bros have first dibs ... |
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| Gothamcelt | 11 Jun 2018, 01:05 PM Post #8228 |
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Retired and now a BT Sports pundit
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There's a thread on RM named Edmiston House - NASRA and it has a tweet saying " SR: looking at possibility of bringing Edmiston House back into use. Feasibility study being done. Various uses mooted". I'm sure a half decent salesman could show them pictures of how it used to look before, crammed pull of punters spending money over the four floors. Show the the reaction that Stevie "Gerro" Gerrard gets from the media and show how good an investment this could be? On the other hand someone posted that nothing will happen as the Close Brothers loan is secured to it. |
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| pablo5 | 11 Jun 2018, 01:23 PM Post #8229 |
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Whatever it is, there's not enough of it
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This occurred to me also. They're usually very quick to deny or deflect when things aren't true. There was a considerable amount of mud slung around when one of their directors resigned in April with a fair degree of criticism of the overall governance of the organisation. |
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| littlegmbhoy | 11 Jun 2018, 01:34 PM Post #8230 |
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Club Captain
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Right enough statement every 2 days the now .we are due one. |
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| Otis | 11 Jun 2018, 01:52 PM Post #8231 |
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Has his boots and is available for selection
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They should issue a statement to counter any worries about a lack of statements. |
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| tenerifetim | 11 Jun 2018, 02:09 PM Post #8232 |
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Considering retirement
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2 Guys- R. Marshall & Dingwall on FF supporting & giving credence to the Club1872 Loan scenario !
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| The Wizard of Tim | 11 Jun 2018, 02:20 PM Post #8233 |
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First-team starter
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They are indeed but polishing that turd like crazy. Dungwall will be on soon with his 12 different accounts agreeing with himself. He even makes the same spelling mistakes. |
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| smudgethecat | 11 Jun 2018, 02:25 PM Post #8234 |
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First-team starter
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Look at the question and answer below. Question from a hun with brain. Given explanation, Club 1690 style. ----------------------------------------------------------------------------------------- I get the logic, but from a common sense point of view, borrowing, and using Shareholding as collateral to get money to buy more shares... the stuff of moon men. This is what happens when Da's leave their laptops open and virgins google blog. ------------------------------------------------------------------------------------------- Not really. You can demonstrate that twitter storms, resignations, team performance and daft blogs have no influence over the numbers contributing. Then you lock in prices, values, etc into the detail of any loan agreement. You could argue high risk = high reward = opportunities. Or with a benevolent lender, the shares could in fact be the ultimate guarantor. |
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| tomtom | 11 Jun 2018, 02:31 PM Post #8235 |
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First name on the team-sheet
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"Or with a benevolent lender, the shares could in fact be the ultimate guarantor."
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| alexw123 | 11 Jun 2018, 02:51 PM Post #8236 |
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It's Only a Game
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What does that even mean? They've got the high risk bit right. So high reward and everyone is happy. But who is holding the risk if/ when it all goes tits up? Edited by alexw123, 11 Jun 2018, 02:53 PM.
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| Chalmers | 11 Jun 2018, 02:58 PM Post #8237 |
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Considering retirement
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A few comments on the alleged Club 1872 loan facility. The Club’s articles permit the board to borrow for any reason, without the need to refer to the members. What astounds me though is Phil’s assertion that the facility is being provided by a High St bank rather than a fringe high-risk lender. The fact that Phil doesn’t want to divulge the bank’s name in order to protect his source suggests to me that the source might be an employee of the bank. It’s possible that the RIFC shares already held by Club 1872 are being used as security, but again, a reputable bank would shy away from using unlisted shares in a company with well known cash flow problems. I suspect that the bank is dependent on the regular subs coming into Club 1872 for repayment of the loan. But what if the loan proves to exist? How will the members react? Are some of them likely to cancel their regular contributions? Another issue that has been picked up already is what price will Sevco offer their shares to Club 1872 compared to the offer to others such as Blue Pitch and Margarita? If Club 1872 are seen to being ripped off, that might be another reason for its members to jump ship. |
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| tomtom | 11 Jun 2018, 03:01 PM Post #8238 |
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First name on the team-sheet
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The kindly benefactor. They have presumably tapped up someone for the money who doesn't want to be seen to be buying the shares for whatever reason. |
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| corsica1968 | 11 Jun 2018, 03:07 PM Post #8239 |
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Occasional Substitute
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I refer the honourable gentleman to my statement at the top of the page. |
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| Danny Ghirl 67 | 11 Jun 2018, 03:07 PM Post #8240 |
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First name on the team-sheet
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Another name linked to the CIC
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It'll be fun to see how they try to get him off the books whilst attempting to make it look like they have done 'a good bit of business' or Gerrard has shown some 'shrewd management'...


on FF supporting & giving credence to the Club1872 Loan scenario !

8:14 AM Jul 11