kowenicki Posted April 12, 2017 Share Posted April 12, 2017 1 minute ago, leeslover said: The size of the Trust shareholding isn't really an issue. The Trust is legally entitled to a seat on the Board with all the rights and privileges that entails. Simon Brooke could be compromised in his day job if he were found not to have discharged his OAFC role correctly and it certainly isn't the case that any Director can be cut out of important decisions or information I may not understand this correctly... The trust is a shareholder isn't it? The shareholders agreement will say what the shareholder is entitled to. The size of the shareholding could very well be an issue in that situation. Quote Link to comment Share on other sites More sharing options...
boundaryblue80 Posted April 12, 2017 Share Posted April 12, 2017 Just now, kowenicki said: didn't read the article did you.... This is based purely on CCJ and WUP's, CVA's etc. A club can still be struggling financially and living hand to mouth without any of thosehappening. Yes. I read all that. You did see Simons video nasty last year, yes? The one that told us most clubs are running the way we are and that there's nothing to be concerned about? Quote Link to comment Share on other sites More sharing options...
kowenicki Posted April 12, 2017 Share Posted April 12, 2017 1 minute ago, boundaryblue80 said: Yes. I read all that. You did see Simons video nasty last year, yes? The one that told us most clubs are running the way we are and that there's nothing to be concerned about? I don't recall it fully. I just remember him saying most clubs are struggling and live hand to mouth or something like that. That's true. Quote Link to comment Share on other sites More sharing options...
leeslover Posted April 12, 2017 Share Posted April 12, 2017 4 minutes ago, kowenicki said: I may not understand this correctly... The trust is a shareholder isn't it? The shareholders agreement will say what the shareholder is entitled to. The size of the shareholding could very well be an issue in that situation. They are special shares which entitle us to a seat on the Board. The rights and obligations as a board member don't depend on any shareholding big or small. Quote Link to comment Share on other sites More sharing options...
kowenicki Posted April 12, 2017 Share Posted April 12, 2017 1 minute ago, leeslover said: They are special shares which entitle us to a seat on the Board. The rights and obligations as a board member don't depend on any shareholding big or small. That's true. I wasn't aware of that. So if they are being prevented from attending... kick off and demand it or report the board. Demand the seat. Quote Link to comment Share on other sites More sharing options...
leeslover Posted April 12, 2017 Share Posted April 12, 2017 37 minutes ago, archiecat said: Whilst everyone clamours for scoreboard donations to be refunded,the trust may as well enquire about cashing in it's 3%. They have a face value of £1, which is a good thing as it limits the exposure of Trust Directors. Quote Link to comment Share on other sites More sharing options...
blueatheart Posted April 12, 2017 Share Posted April 12, 2017 1 minute ago, kowenicki said: That's true. I wasn't aware of that. So if they are being prevented from attending... kick off and demand it or report the board. Demand the seat. What board? Barry, Ian and Antony? All of whom have support Corney loyally over the last how ever many years. Complaining to the board has no power. The basic corporate governance around latics is terrible. Quote Link to comment Share on other sites More sharing options...
yarddog73 Posted April 12, 2017 Share Posted April 12, 2017 27 minutes ago, kowenicki said: Read that. It is making a bit of a leap for a sensational headline. It is actually based purely on CCJ registrations and WUP's. Based on that criteria then of course we are one of them as we have a live WUP as far as we know. So that's Bury, Bolton, Oldham and I don't know who else. Doesn't necessarily mean they are at risk of 'going down the pan'. It just means they have some current issues. I'd suggest the club at biggest risk is Bolton. Indeed I have no idea why they are allowed trade. They are losing £800k per month and their auditor would not sign them off as a going concern in their last accounts. They have cheated their way to promotion imo. If they hadn't/don't go up they will go into admin I reckon. And your is? Quote Link to comment Share on other sites More sharing options...
boundaryblue80 Posted April 12, 2017 Share Posted April 12, 2017 4 minutes ago, kowenicki said: I don't recall it fully. I just remember him saying most clubs are struggling and live hand to mouth or something like that. That's true. You say it's true. Where are your facts??? This report suggests differently. Hand to mouth puts a club very much in peril especially if something comes along unexpectedly (like a terrible winter seeing many games postponed etc.). I'd suggest that could topple the 4 clubs mentioned in the report. Quote Link to comment Share on other sites More sharing options...
yarddog73 Posted April 12, 2017 Share Posted April 12, 2017 3 minutes ago, blueatheart said: What board? Larry, Moe and Curley? All of whom have support Corney loyally over the last how ever many years. Complaining to the board has no power. The basic corporate governance around latics is terrible. FTFY. Quote Link to comment Share on other sites More sharing options...
kowenicki Posted April 12, 2017 Share Posted April 12, 2017 9 minutes ago, blueatheart said: What board? Barry, Ian and Antony? All of whom have support Corney loyally over the last how ever many years. Complaining to the board has no power. The basic corporate governance around latics is terrible. so consult a lawyer and demand the seat. Quote Link to comment Share on other sites More sharing options...
kowenicki Posted April 12, 2017 Share Posted April 12, 2017 4 minutes ago, yarddog73 said: FTFY. you aren't helping discussion are you Quote Link to comment Share on other sites More sharing options...
kowenicki Posted April 12, 2017 Share Posted April 12, 2017 8 minutes ago, yarddog73 said: And your is? er... the article... Bury have CCJ's, well reported... and Bolton have very very public issues. Quote Link to comment Share on other sites More sharing options...
deyres42 Posted April 12, 2017 Share Posted April 12, 2017 Bit sensitive the axe grinders... Quote Link to comment Share on other sites More sharing options...
boundaryblue80 Posted April 12, 2017 Share Posted April 12, 2017 5 minutes ago, deyres42 said: Bit sensitive the axe grinders... It's alright...we know you wouldn't shed a tear if the club ceased to exist tomorrow. Now run along. Quote Link to comment Share on other sites More sharing options...
deyres42 Posted April 12, 2017 Share Posted April 12, 2017 4 minutes ago, boundaryblue80 said: It's alright...we know you wouldn't shed a tear if the club ceased to exist tomorrow. Now run along. Of course you wouldn't be the first in line to say I told you so if it did... Quote Link to comment Share on other sites More sharing options...
blueatheart Posted April 12, 2017 Share Posted April 12, 2017 1 hour ago, kowenicki said: so consult a lawyer and demand the seat. Doesn't really help resolve the issue as it will only serve to deepend whatever rift exists. Quote Link to comment Share on other sites More sharing options...
boundaryblue80 Posted April 12, 2017 Share Posted April 12, 2017 19 minutes ago, deyres42 said: Of course you wouldn't be the first in line to say I told you so if it did... Fucking dead right! Quote Link to comment Share on other sites More sharing options...
underdog Posted April 12, 2017 Share Posted April 12, 2017 4 hours ago, astottie said: Article on BBC http://www.bbc.co.uk/sport/football/39566143 four clubs at risk of going down the pan according to a study by a financial services expert. I wonder if we're one of them. Thanks most interesting Quote Link to comment Share on other sites More sharing options...
underdog Posted April 12, 2017 Share Posted April 12, 2017 Can I ask if a WUP is approved/authorised then we automatically will get relegated with a points deduction? if a WUP happens after the season finishes then we are allowed to stay in this division but points deducted? thanks in advance Quote Link to comment Share on other sites More sharing options...
deyres42 Posted April 12, 2017 Share Posted April 12, 2017 There won't be a club if it is wound up. Quote Link to comment Share on other sites More sharing options...
kowenicki Posted April 12, 2017 Share Posted April 12, 2017 (edited) 2 minutes ago, underdog said: Can I ask if a WUP is approved/authorised then we automatically will get relegated with a points deduction? if a WUP happens after the season finishes then we are allowed to stay in this division but points deducted? thanks in advance Are you for real? If a WUP is approved. We would be liquidated. Aren't you on the trust? Edited April 12, 2017 by kowenicki Quote Link to comment Share on other sites More sharing options...
underdog Posted April 12, 2017 Share Posted April 12, 2017 (edited) 12 minutes ago, kowenicki said: Are you for real? If a WUP is approved. We would be liquidated. Aren't you on the trust? Woah......I asked a question, wondering if could lead into new owners buying in but we would we penalised still at the start of the season. Maybe I should have been more clear on that point And if I don't understand the process/ implications do you think the average fan does...whatever the average fan is Edited April 12, 2017 by underdog Quote Link to comment Share on other sites More sharing options...
adamoafc Posted April 12, 2017 Share Posted April 12, 2017 33 minutes ago, kowenicki said: Are you for real? If a WUP is approved. We would be liquidated. Aren't you on the trust? ? wow. Thought trust committee would have been aware of stuff like this. Doesn't look good about who is fighting for us does it when they come out with stuff like that. Quote Link to comment Share on other sites More sharing options...
adamoafc Posted April 12, 2017 Share Posted April 12, 2017 (edited) 44 minutes ago, underdog said: Can I ask if a WUP is approved/authorised then we automatically will get relegated with a points deduction? if a WUP happens after the season finishes then we are allowed to stay in this division but points deducted? thanks in advance Wouldn't go that far someone would want the club push come to shove. Points are never deducted in the same season for admin always the season after. Which is obviously something which wouldn't happen if we went out of business Edited April 12, 2017 by adamoafc Quote Link to comment Share on other sites More sharing options...
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