Guest mkowl Posted October 7, 2020 Share Posted October 7, 2020 5 minutes ago, wellbeaten-the-owl said: Not even reached the 3-6 month late filing penalty yet! See my post above, I have seen the intended striking off letter be issued 6 weeks after the filing deadline, particularly if you requested an extension and still failed to file. Of course that letter gives a further couple of months to actually file so not doomsday- but its still not something to ignore Link to comment Share on other sites More sharing options...
billyblack Posted October 7, 2020 Share Posted October 7, 2020 1 hour ago, Grandad said: I'm sorry Joe but that's a truly awful article It offers zero clarity and answers absolutely no questions. When stuff like this happens it really would be best to interview someone senior at the club rather than a 'rent-a-quote' football finance guy Our fans are justifiably terrified whenever off the field stories like this surface - and they would be much more likely to subscribe to The Star if you guys did some investigative journalism and got some real answers. Sorry if that comes over as a bit brutal Just wondering who that somebody senior would be? Link to comment Share on other sites More sharing options...
Guest Hornsby Posted October 7, 2020 Share Posted October 7, 2020 This is the same lender that bankrupted Watford so no doubt will also have a floating charge over Chansiri's other UK assets, including his club shares. Effectively, this could be a sale of the club via administration - hopefully, without a bet on it. Suppose admin helped Leeds and Leicester. Link to comment Share on other sites More sharing options...
wellbeaten-the-owl Posted October 7, 2020 Share Posted October 7, 2020 (edited) 10 minutes ago, mkowl said: See my post above, I have seen the intended striking off letter be issued 6 weeks after the filing deadline, particularly if you requested an extension and still failed to file. Of course that letter gives a further couple of months to actually file so not doomsday- but its still not something to ignore Am sure it's not being ignored. But it's nothing to worry about at this stage. I don't believe personally that the auditors would be happy signing off whilst this is unresolved. In my dealings with co house (granted my auditing days arevl a thing of the past thank god) they seemed to be harder and swifter on repeat offenders. Also seen a few file much later than 2 months late and not be struck off. Edited October 7, 2020 by wellbeaten-the-owl Link to comment Share on other sites More sharing options...
Guest mkowl Posted October 7, 2020 Share Posted October 7, 2020 1 minute ago, wellbeaten-the-owl said: Am sure it's not being ignored. But it's nothing to worry about at this stage. I don't believe the auditors would be happy signing off whilst this is unresolved. In my dealings with co house they seemed to be harder and swifter on repeat offenders. Also seen a few file much later than 2 months late and not be struck off. My experience is that its fairly arbitrary. Agree on the auditor point It actually wouldn't surprise me if there was other legal considerations going on in this respect. Link to comment Share on other sites More sharing options...
Guest mkowl Posted October 7, 2020 Share Posted October 7, 2020 9 minutes ago, Hornsby said: This is the same lender that bankrupted Watford so no doubt will also have a floating charge over Chansiri's other UK assets, including his club shares. Effectively, this could be a sale of the club via administration - hopefully, without a bet on it. Suppose admin helped Leeds and Leicester. Do we actually know who the lender is. The company referenced did not appear to be a lender per se Link to comment Share on other sites More sharing options...
wellbeaten-the-owl Posted October 7, 2020 Share Posted October 7, 2020 1 minute ago, mkowl said: My experience is that its fairly arbitrary. Agree on the auditor point It actually wouldn't surprise me if there was other legal considerations going on in this respect. Also (from memory so may be mistaken) a key component of co house strike off process is their "belief that a company is no longer in operation" with a co such as swfc that is in public domain think that would be a hard case to make. Regardless though needs sorting (appeal and filing accounts) asap Link to comment Share on other sites More sharing options...
Guest mkowl Posted October 7, 2020 Share Posted October 7, 2020 4 minutes ago, wellbeaten-the-owl said: Also (from memory so may be mistaken) a key component of co house strike off process is their "belief that a company is no longer in operation" with a co such as swfc that is in public domain think that would be a hard case to make. Regardless though needs sorting (appeal and filing accounts) asap The late filing ones are usually generic bottom kicking chase up letters One of my clients could be getting one any day soon ! Link to comment Share on other sites More sharing options...
owlZfan84 Posted October 7, 2020 Share Posted October 7, 2020 Dr Plumbley. With the lead piping. In the study. 1 Link to comment Share on other sites More sharing options...
Plonk Posted October 7, 2020 Share Posted October 7, 2020 44 minutes ago, Hornsby said: This is the same lender that bankrupted Watford so no doubt will also have a floating charge over Chansiri's other UK assets, including his club shares. Effectively, this could be a sale of the club via administration - hopefully, without a bet on it. Suppose admin helped Leeds and Leicester. When did Watford go bankrupt? 1 Link to comment Share on other sites More sharing options...
Owls2k Posted October 7, 2020 Share Posted October 7, 2020 11 hours ago, Inspector Lestrade said: Are you being sarcastic? Is this sarcastic? Link to comment Share on other sites More sharing options...
adelphi1867 Posted October 7, 2020 Share Posted October 7, 2020 12 hours ago, mkowl said: Hi Joe You do realise these football finance experts know sod all and that comment was from the academic said nothing of value. So come on, tell us mere mortals just what all this means. Is it summat to worry about or just some Accountancy jiggery pokery? Link to comment Share on other sites More sharing options...
smhouston Posted October 7, 2020 Share Posted October 7, 2020 11 hours ago, legendaryswan said: Hes taking out a mortgage,so hes put the ground up as security,if he defaults the lender has the right to call in the debt and take the asset Not sure what the panic is all about. The lender is "DJ Banks" so nothing to see Link to comment Share on other sites More sharing options...
Guest mkowl Posted October 7, 2020 Share Posted October 7, 2020 6 minutes ago, adelphi1867 said: So come on, tell us mere mortals just what all this means. Is it summat to worry about or just some Accountancy jiggery pokery? I think we have to wait until until its actually shown on Companies House, but in itself this is not a major issue for me its more re-affirming some of my own views Link to comment Share on other sites More sharing options...
Guest Grandad Posted October 7, 2020 Share Posted October 7, 2020 I'm having flashbacks to Disco Bobby (was that his name?) Link to comment Share on other sites More sharing options...
Inspector Lestrade Posted October 7, 2020 Share Posted October 7, 2020 22 minutes ago, Owls2k said: Is this sarcastic? Your reply or mine? 1 Link to comment Share on other sites More sharing options...
Guest Hornsby Posted October 7, 2020 Share Posted October 7, 2020 2 hours ago, Plonk said: When did Watford go bankrupt? Pre -Pozzo who bought it for £20 million after another Italian who couldn't repay loan to same lenders that Chansiri's put on Hillborough. Last year, Pozzo refinanced club and took out £200 million cash personally. Link to comment Share on other sites More sharing options...
Blatter Posted October 7, 2020 Share Posted October 7, 2020 Sounds a bit like an equity release plan that some financial whiz kid just out of university offered me a while back.. Didn’t much like the look of it when I started reading into the small print. Link to comment Share on other sites More sharing options...
BARMYARMY2010 Posted October 7, 2020 Share Posted October 7, 2020 5 hours ago, Hornsby said: Pre -Pozzo who bought it for £20 million after another Italian who couldn't repay loan to same lenders that Chansiri's put on Hillborough. Last year, Pozzo refinanced club and took out £200 million cash personally. Watford didn't go bankrupt . Link to comment Share on other sites More sharing options...
BARMYARMY2010 Posted October 7, 2020 Share Posted October 7, 2020 8 hours ago, Plonk said: When did Watford go bankrupt? They didn't,they had financial difficulties that almost lead to administration,that pozzo fella bought the club from Bassini. Link to comment Share on other sites More sharing options...
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