Re: LFC Sold to NESV (New England Sports Ventures)
Theres only one way to solve this...'FIIIIIGHT!'
Theres only one way to solve this...'FIIIIIGHT!'
LFC SOLD to NESV.
- Thread starter Terrier
- Start date
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Re: LFC Sold to NESV (New England Sports Ventures)
That's pretty much Broughton's message. Some folk still seem to assume that next week's court action was started by Hicks, but it was actually Broughton who launched it. His attitude seems to be that he'd have preferred not to have to bother with it but, now that H and G have made it necessary, let's get it done and dusted.
That's pretty much Broughton's message. Some folk still seem to assume that next week's court action was started by Hicks, but it was actually Broughton who launched it. His attitude seems to be that he'd have preferred not to have to bother with it but, now that H and G have made it necessary, let's get it done and dusted.
Re: LFC Sold to NESV (New England Sports Ventures)
S168 of the Companies Act 2006: Resolution to remove director, states:
(1) A company may...remove a director before the expiration of his period of office, notwithstanding anything in any agreement between it and him.
(2)Special notice is required of a resolution to remove a director under this section or to appoint somebody instead of a director so removed at the meeting at which he is removed.
(3) A vacancy created by the removal of a director under this section, if not filled at the meeting at which he is removed, may be filled as a casual vacancy.
I wonder what notice needs to be given. Im sure it has to be more than just turning up to a meeting and saying that Purslow and Ayres are sacked and being replaced by Mack and Lori. That being the case then with 7 or 14 days notice or whatever, Purslow and Ayres can be sacked next week or the week after, but by then the sale is agreed and done.
S168 of the Companies Act 2006: Resolution to remove director, states:
(1) A company may...remove a director before the expiration of his period of office, notwithstanding anything in any agreement between it and him.
(2)Special notice is required of a resolution to remove a director under this section or to appoint somebody instead of a director so removed at the meeting at which he is removed.
(3) A vacancy created by the removal of a director under this section, if not filled at the meeting at which he is removed, may be filled as a casual vacancy.
I wonder what notice needs to be given. Im sure it has to be more than just turning up to a meeting and saying that Purslow and Ayres are sacked and being replaced by Mack and Lori. That being the case then with 7 or 14 days notice or whatever, Purslow and Ayres can be sacked next week or the week after, but by then the sale is agreed and done.
Re: LFC Sold to NESV (New England Sports Ventures)
The big IF we loose, H and G will refinance everything towards the club.
The big IF we loose, H and G will refinance everything towards the club.
Re: LFC Sold to NESV (New England Sports Ventures)
I'm not sure whether the notice issue be a problem since even it were a special resolution (which it isnt) removal could still be effected by 75% majority vote of the shareholders.
This is just a special notice of an ordinary resolution which would be even easier to pass.
Hicks has however presumaby failed to make the proper notifications which helps us; since he only informed Broughton about the sacking during the phone call in which the sale was being discussed.
The crux of the matter will be the undertakings made to the bank with Broughton's appointment; the fact that the articles might not have been amended is a problem though.
I'm not sure whether the notice issue be a problem since even it were a special resolution (which it isnt) removal could still be effected by 75% majority vote of the shareholders.
This is just a special notice of an ordinary resolution which would be even easier to pass.
Hicks has however presumaby failed to make the proper notifications which helps us; since he only informed Broughton about the sacking during the phone call in which the sale was being discussed.
The crux of the matter will be the undertakings made to the bank with Broughton's appointment; the fact that the articles might not have been amended is a problem though.
Re: LFC Sold to NESV (New England Sports Ventures)
Yes they tried to get there loan based on players Anfield and Melwood and the Acadamy in Kirkby.
The board outvoted it 3-2, if they get his son and friend in, the board would vote in favour 5-0.
Thats his Hitler in the Bunker ploy, hoping the Atom Bombs ready, or the Yanks start fighting the Russians.
I got the Petrol and I'm sure if they take the pills, I'd be happy to burn there bodies
Yes they tried to get there loan based on players Anfield and Melwood and the Acadamy in Kirkby.
The board outvoted it 3-2, if they get his son and friend in, the board would vote in favour 5-0.
Thats his Hitler in the Bunker ploy, hoping the Atom Bombs ready, or the Yanks start fighting the Russians.
I got the Petrol and I'm sure if they take the pills, I'd be happy to burn there bodies
Re: LFC Sold to NESV (New England Sports Ventures)
The Football League have already confirmed that LFC will NOT be docked 9 points if we go into administration. We are a profit making organisation and it is the parent company who is in financial strife. The same thing happened to West Ham last season when their Icelandic owners went bust, they did not get a 9 point deduction.
WHATEVER HAPPENS WE WON'T BE DOCKED 9 POINTS.
Sorry for bolding that, but this point has been raised too often considering the Premier League have said it's not going to happen.
The Football League have already confirmed that LFC will NOT be docked 9 points if we go into administration. We are a profit making organisation and it is the parent company who is in financial strife. The same thing happened to West Ham last season when their Icelandic owners went bust, they did not get a 9 point deduction.
WHATEVER HAPPENS WE WON'T BE DOCKED 9 POINTS.
Sorry for bolding that, but this point has been raised too often considering the Premier League have said it's not going to happen.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=spider-neil link=topic=41783.msg1191399#msg1191399 date=1286522685]
'ken' (challenger to kenwar) points out the G&H 'can' put new board members forwards but the contract clearly state these changes have to be signed off by the chairman.
🙂
[/quote]
Spider we knew this about twenty pages ago. No need to reiterate the obvious. We can only hope that Broughton has an air tight case.
[quote author=spider-neil link=topic=41783.msg1191399#msg1191399 date=1286522685]
'ken' (challenger to kenwar) points out the G&H 'can' put new board members forwards but the contract clearly state these changes have to be signed off by the chairman.
🙂
[/quote]
Spider we knew this about twenty pages ago. No need to reiterate the obvious. We can only hope that Broughton has an air tight case.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=Pesam link=topic=41783.msg1191444#msg1191444 date=1286528461]
The Football League have already confirmed that LFC will NOT be docked 9 points if we go into administration. We are a profit making organisation and it is the parent company who is in financial strife. The same thing happened to West Ham last season when their Icelandic owners went bust, they did not get a 9 point deduction.
WHATEVER HAPPENS WE WON'T BE DOCKED 9 POINTS.
Sorry for bolding that, but this point has been raised too often considering the Premier League have said it's not going to happen.
[/quote]
Yep, the Premier League changed guidelines about two years ago to prevent exactly this kind of scenario happening.
Provided the club has resources & cash flow to pay all outstanding wages & bills to staff & players, the parent companies debt & administration is not used against the club.
[quote author=Pesam link=topic=41783.msg1191444#msg1191444 date=1286528461]
The Football League have already confirmed that LFC will NOT be docked 9 points if we go into administration. We are a profit making organisation and it is the parent company who is in financial strife. The same thing happened to West Ham last season when their Icelandic owners went bust, they did not get a 9 point deduction.
WHATEVER HAPPENS WE WON'T BE DOCKED 9 POINTS.
Sorry for bolding that, but this point has been raised too often considering the Premier League have said it's not going to happen.
[/quote]
Yep, the Premier League changed guidelines about two years ago to prevent exactly this kind of scenario happening.
Provided the club has resources & cash flow to pay all outstanding wages & bills to staff & players, the parent companies debt & administration is not used against the club.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=Avmenon link=topic=41783.msg1191441#msg1191441 date=1286528132]
I'm not sure whether the notice issue be a problem since even it were a special resolution (which it isnt) removal could still be effected by 75% majority vote of the shareholders.
This is just a special notice of an ordinary resolution which would be even easier to pass.
Hicks has however presumaby failed to make the proper notifications which helps us; since he only informed Broughton about the sacking during the phone call in which the sale was being discussed.The crux of the matter will be the undertakings made to the bank with Broughton's appointment; the fact that the articles might not have been amended is a problem though.
[/quote]
That was the point I was making
[quote author=Avmenon link=topic=41783.msg1191441#msg1191441 date=1286528132]
I'm not sure whether the notice issue be a problem since even it were a special resolution (which it isnt) removal could still be effected by 75% majority vote of the shareholders.
This is just a special notice of an ordinary resolution which would be even easier to pass.
Hicks has however presumaby failed to make the proper notifications which helps us; since he only informed Broughton about the sacking during the phone call in which the sale was being discussed.The crux of the matter will be the undertakings made to the bank with Broughton's appointment; the fact that the articles might not have been amended is a problem though.
[/quote]
That was the point I was making
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=LadyRed link=topic=41783.msg1191453#msg1191453 date=1286529292]
I had a really horrible feeling whilst watching SSN this morning that this whole thing is gonna fall through.
[/quote]
Hey, it's OK to be nervous - we're all on tenterhooks. But turn that frown upside down missy because we're going to WIN.
[quote author=LadyRed link=topic=41783.msg1191453#msg1191453 date=1286529292]
I had a really horrible feeling whilst watching SSN this morning that this whole thing is gonna fall through.
[/quote]
Hey, it's OK to be nervous - we're all on tenterhooks. But turn that frown upside down missy because we're going to WIN.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=LadyRed link=topic=41783.msg1191453#msg1191453 date=1286529292]
I had a really horrible feeling whilst watching SSN this morning that this whole thing is gonna fall through.
[/quote]
I had that same feeling standing on the roof of a derelict building once. I was right. Bloody hurt too.
[quote author=LadyRed link=topic=41783.msg1191453#msg1191453 date=1286529292]
I had a really horrible feeling whilst watching SSN this morning that this whole thing is gonna fall through.
[/quote]
I had that same feeling standing on the roof of a derelict building once. I was right. Bloody hurt too.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=LadyRed link=topic=41783.msg1191457#msg1191457 date=1286529476]
Lol @ Jon.
Sunny is all caught up in the Red Sox 'winning mentality' already. RIGHT ON BRAD *high five*
[/quote]
I'm wearing one of my many Red Sox caps as we speak Anita.. 🙂
I truly do believe we're going to see the back of the cunts soon though....
[quote author=LadyRed link=topic=41783.msg1191457#msg1191457 date=1286529476]
Lol @ Jon.
Sunny is all caught up in the Red Sox 'winning mentality' already. RIGHT ON BRAD *high five*
[/quote]
I'm wearing one of my many Red Sox caps as we speak Anita.. 🙂
I truly do believe we're going to see the back of the cunts soon though....
Re: LFC Sold to NESV (New England Sports Ventures)
It HAS to happen right?
I mean, everyone in the media is already saying that it's almost done bar the High court ruling. Everyone is doing features and profiles of NESV and Henry.
Surely it means that it WILL happen right?
*prays*
It HAS to happen right?
I mean, everyone in the media is already saying that it's almost done bar the High court ruling. Everyone is doing features and profiles of NESV and Henry.
Surely it means that it WILL happen right?
*prays*
Re: LFC Sold to NESV (New England Sports Ventures)
my worry is if we lose the case G&H will attempt to refinance almost immediately. could they get refinace (elsewhere) signed sealed and delivered in a day?
my worry is if we lose the case G&H will attempt to refinance almost immediately. could they get refinace (elsewhere) signed sealed and delivered in a day?
Re: LFC Sold to NESV (New England Sports Ventures)
I doubt it though; in the event we lose we'll file an appeal and a stay of execution.
I also think Broughton will file an application for an interim injunction (similar to the one Hicks has just filed) to prevent any attempt at refinancing.
Would lose that one too, but it would buy time.
My real annoyance is the silence of RBS on this matter.
I doubt it though; in the event we lose we'll file an appeal and a stay of execution.
I also think Broughton will file an application for an interim injunction (similar to the one Hicks has just filed) to prevent any attempt at refinancing.
Would lose that one too, but it would buy time.
My real annoyance is the silence of RBS on this matter.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=Avmenon link=topic=41783.msg1191468#msg1191468 date=1286530558]
I doubt it though; in the event we lose we'll file an appeal and a stay of execution.
I also think Broughton will file an application for an interim injunction (similar to the one Hicks has just filed) to prevent any attempt at refinancing.
Would lose that one too, but it would buy time.
My real annoyance is the silence of RBS on this matter.
[/quote]
good point, surely an appeal will push proceedings past the 15th?
[quote author=Avmenon link=topic=41783.msg1191468#msg1191468 date=1286530558]
I doubt it though; in the event we lose we'll file an appeal and a stay of execution.
I also think Broughton will file an application for an interim injunction (similar to the one Hicks has just filed) to prevent any attempt at refinancing.
Would lose that one too, but it would buy time.
My real annoyance is the silence of RBS on this matter.
[/quote]
good point, surely an appeal will push proceedings past the 15th?
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=Avmenon link=topic=41783.msg1191468#msg1191468 date=1286530558]
My real annoyance is the silence of RBS on this matter.
[/quote]
what do you want them to say? what CAN they say?
[quote author=Avmenon link=topic=41783.msg1191468#msg1191468 date=1286530558]
My real annoyance is the silence of RBS on this matter.
[/quote]
what do you want them to say? what CAN they say?
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=Avmenon link=topic=41783.msg1191468#msg1191468 date=1286530558]
I doubt it though; in the event we lose we'll file an appeal and a stay of execution.
I also think Broughton will file an application for an interim injunction (similar to the one Hicks has just filed) to prevent any attempt at refinancing.
Would lose that one too, but it would buy time.
My real annoyance is the silence of RBS on this matter.
[/quote]
But they cannot say anything public can they? They have their integrity as a serious finacial instituion to take care of. What if they went public with their opinion on clients they had... They would very soon have none.
[quote author=Avmenon link=topic=41783.msg1191468#msg1191468 date=1286530558]
I doubt it though; in the event we lose we'll file an appeal and a stay of execution.
I also think Broughton will file an application for an interim injunction (similar to the one Hicks has just filed) to prevent any attempt at refinancing.
Would lose that one too, but it would buy time.
My real annoyance is the silence of RBS on this matter.
[/quote]
But they cannot say anything public can they? They have their integrity as a serious finacial instituion to take care of. What if they went public with their opinion on clients they had... They would very soon have none.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=Asbo link=topic=41783.msg1191443#msg1191443 date=1286528318]
Yes they tried to get there loan based on players Anfield and Melwood and the Acadamy in Kirkby.
The board outvoted it 3-2, if they get his son and friend in, the board would vote in favour 5-0.
Thats his Hitler in the Bunker ploy, hoping the Atom Bombs ready, or the Yanks start fighting the Russians.
I got the Petrol and I'm sure if they take the pills, I'd be happy to burn there bodies
[/quote]
Ha, good analogy. I watched Downfall the other night.
[quote author=Asbo link=topic=41783.msg1191443#msg1191443 date=1286528318]
Yes they tried to get there loan based on players Anfield and Melwood and the Acadamy in Kirkby.
The board outvoted it 3-2, if they get his son and friend in, the board would vote in favour 5-0.
Thats his Hitler in the Bunker ploy, hoping the Atom Bombs ready, or the Yanks start fighting the Russians.
I got the Petrol and I'm sure if they take the pills, I'd be happy to burn there bodies
[/quote]
Ha, good analogy. I watched Downfall the other night.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=Asbo link=topic=41783.msg1191443#msg1191443 date=1286528318]
Yes they tried to get there loan based on players Anfield and Melwood and the Acadamy in Kirkby.
The board outvoted it 3-2, if they get his son and friend in, the board would vote in favour 5-0.
Thats his Hitler in the Bunker ploy, hoping the Atom Bombs ready, or the Yanks start fighting the Russians.
I got the Petrol and I'm sure if they take the pills, I'd be happy to burn there bodies
[/quote]
Come on. Hitler was bad, but was he equally evil as Hicks??
[quote author=Asbo link=topic=41783.msg1191443#msg1191443 date=1286528318]
Yes they tried to get there loan based on players Anfield and Melwood and the Acadamy in Kirkby.
The board outvoted it 3-2, if they get his son and friend in, the board would vote in favour 5-0.
Thats his Hitler in the Bunker ploy, hoping the Atom Bombs ready, or the Yanks start fighting the Russians.
I got the Petrol and I'm sure if they take the pills, I'd be happy to burn there bodies
[/quote]
Come on. Hitler was bad, but was he equally evil as Hicks??
Re: LFC Sold to NESV (New England Sports Ventures)
Somebody slap spider-neil. He's a hysterical neurotic and it's getting on my nerves now.
Somebody slap spider-neil. He's a hysterical neurotic and it's getting on my nerves now.
Re: LFC Sold to NESV (New England Sports Ventures)
Nah Spidey's post are helping to keep the balance. All these excited posts about the end of Hicks & Co are luring everyone into a sense of security. And Spidey's right, we're not home and dry yet, a lot can still go wrong.
Nah Spidey's post are helping to keep the balance. All these excited posts about the end of Hicks & Co are luring everyone into a sense of security. And Spidey's right, we're not home and dry yet, a lot can still go wrong.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=TheBunnyman link=topic=41783.msg1191490#msg1191490 date=1286531325]
Somebody slap spider-neil. He's a hysterical neurotic and it's getting on my nerves now.
[/quote]
just refusing to get my hopes up after so many false dawns, can't blame me for that can you. after the 15th we can all laugh together.
[quote author=TheBunnyman link=topic=41783.msg1191490#msg1191490 date=1286531325]
Somebody slap spider-neil. He's a hysterical neurotic and it's getting on my nerves now.
[/quote]
just refusing to get my hopes up after so many false dawns, can't blame me for that can you. after the 15th we can all laugh together.
Re: LFC Sold to NESV (New England Sports Ventures)
If RBS says that Broughton's actions were with their consent and instruction this would suggest that RBS considered HIcks actions in removing the 2 directors as an attempt to frustrate the sale and therefore amounted to a breach of undertakings given to RBS made upon the appointment of Broughton to complete the sale (which was a precondition for the extension of the loans).
It's worth noting that every attempt to sell LFC by Broughton prior to this has been frustrated by Hicks due to it supposedly being under-valued.
RBS is CRUCIAL to this case IMO.
If Broughton did NOT act with RBS' consent and instruction, then things become more iffy.
He'd have had no right to accept any offer wthout the consent of the owners.
He can however prove to the court that his actions were made in good faith and pursuant to the terms of his appointment and with a view to the survival of the club as a whole; refinancing would have caused a real dent in the value of the club and would present a risk to the realisation of the debt by RBS.
Hicks will of course argue that Broughton's actions amounted to a breach of his fiduciary duties to the shareholders ie Fat Barstard and his gnome partner.
On the us side, Hicks fas filed to fnd buyes o refiace untl now.
If RBS says that Broughton's actions were with their consent and instruction this would suggest that RBS considered HIcks actions in removing the 2 directors as an attempt to frustrate the sale and therefore amounted to a breach of undertakings given to RBS made upon the appointment of Broughton to complete the sale (which was a precondition for the extension of the loans).
It's worth noting that every attempt to sell LFC by Broughton prior to this has been frustrated by Hicks due to it supposedly being under-valued.
RBS is CRUCIAL to this case IMO.
If Broughton did NOT act with RBS' consent and instruction, then things become more iffy.
He'd have had no right to accept any offer wthout the consent of the owners.
He can however prove to the court that his actions were made in good faith and pursuant to the terms of his appointment and with a view to the survival of the club as a whole; refinancing would have caused a real dent in the value of the club and would present a risk to the realisation of the debt by RBS.
Hicks will of course argue that Broughton's actions amounted to a breach of his fiduciary duties to the shareholders ie Fat Barstard and his gnome partner.
On the us side, Hicks fas filed to fnd buyes o refiace untl now.
Re: LFC Sold to NESV (New England Sports Ventures)
You're not *just* refusing to get your hopes up, you're constantly, neurotically looking for worst-case scenarios.
Either someone posts a gif of that Airplane slapping scene to lighten things up or I'm going to put the Spide on ignore until the 15th.
You're not *just* refusing to get your hopes up, you're constantly, neurotically looking for worst-case scenarios.
Either someone posts a gif of that Airplane slapping scene to lighten things up or I'm going to put the Spide on ignore until the 15th.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=LadyRed link=topic=41783.msg1191453#msg1191453 date=1286529292]
I had a really horrible feeling whilst watching SSN this morning that this whole thing is gonna fall through.
[/quote]
Why? What did they say to give you a horrible feeling?
[quote author=LadyRed link=topic=41783.msg1191453#msg1191453 date=1286529292]
I had a really horrible feeling whilst watching SSN this morning that this whole thing is gonna fall through.
[/quote]
Why? What did they say to give you a horrible feeling?
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=Avmenon link=topic=41783.msg1191499#msg1191499 date=1286531557]
If RBS says that Broughton's actions were with their consent and instruction this would suggest that RBS considered HIcks actions in removing the 2 directors as an attempt to frustrate the sale and therefore amounted to a breach of undertakings given to RBS made upon the appointment of Broughton to complete the sale (which was a precondition for the extension of the loans).
It's worth noting that every attempt to sell LFC by Broughton prior to this has been frustrated by Hicks due to it supposedly being under-valued.
RBS is CRUCIAL to this case IMO.
If Broughton did NOT act with RBS' consent and instruction, then things become more iffy.
He'd have had no right to accept any offer wthout the consent of the owners.
He can however prove to the court that his actions were made in good faith and pursuant to the terms of his appointment and with a view to the survival of the club as a whole; refinancing would have caused a real dent in the value of the club and would present a risk to the realisation of the debt by RBS.
Hicks will of course argue that Broughton's actions amounted to a breach of his fiduciary duties to the shareholders ie Fat Barstard and his gnome partner.
On the us side, Hicks fas filed to fnd buyes o refiace untl now.
[/quote]
It's patently obvious that Broughton and Purslow have been working in cahoots with RBS. This whole thing was planned very carefully. There's no way RBS won't be on our side, if necessary, during the court case.
[quote author=Avmenon link=topic=41783.msg1191499#msg1191499 date=1286531557]
If RBS says that Broughton's actions were with their consent and instruction this would suggest that RBS considered HIcks actions in removing the 2 directors as an attempt to frustrate the sale and therefore amounted to a breach of undertakings given to RBS made upon the appointment of Broughton to complete the sale (which was a precondition for the extension of the loans).
It's worth noting that every attempt to sell LFC by Broughton prior to this has been frustrated by Hicks due to it supposedly being under-valued.
RBS is CRUCIAL to this case IMO.
If Broughton did NOT act with RBS' consent and instruction, then things become more iffy.
He'd have had no right to accept any offer wthout the consent of the owners.
He can however prove to the court that his actions were made in good faith and pursuant to the terms of his appointment and with a view to the survival of the club as a whole; refinancing would have caused a real dent in the value of the club and would present a risk to the realisation of the debt by RBS.
Hicks will of course argue that Broughton's actions amounted to a breach of his fiduciary duties to the shareholders ie Fat Barstard and his gnome partner.
On the us side, Hicks fas filed to fnd buyes o refiace untl now.
[/quote]
It's patently obvious that Broughton and Purslow have been working in cahoots with RBS. This whole thing was planned very carefully. There's no way RBS won't be on our side, if necessary, during the court case.
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