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Guest mkowl
Just now, Essix Blue said:

Hasn’t grandad posted it?

No that is a legal charge to show there is a loan. How and when the loan itself came into existence is not on any public record.

 

DC stated this was a loan to the club that he took on as part of the acquisition of the shares, fairly common that is the issue with buying a company.

 

Post transfer of the stadium to a new legal entity, the lender has demanded this old debt becomes a secured debt against the stadium.

 

So changing the status of the existing debt not new debt

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7 minutes ago, mkowl said:

No that is a legal charge to show there is a loan. How and when the loan itself came into existence is not on any public record.

 

DC stated this was a loan to the club that he took on as part of the acquisition of the shares, fairly common that is the issue with buying a company.

 

Post transfer of the stadium to a new legal entity, the lender has demanded this old debt becomes a secured debt against the stadium.

 

So changing the status of the existing debt not new debt


 

 

do we know who this lender is ?  

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1 hour ago, Essix Blue said:

So in effect the ground is mortgaged?


So DC is okaying Monopoly with us? Can anyone smart enough stick DCs face onto the Monopoly (Waddington’s) guy. I’ll then use that as my new profile pic. 

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Guest mkowl
11 minutes ago, ANDY said:


 

 

do we know who this lender is ?  

The charge is registered to New Avenue Projects Limited, but I don't think they are the lender more brokered it. 

 

So the answer is no

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6 minutes ago, mkowl said:

The charge is registered to New Avenue Projects Limited, but I don't think they are the lender more brokered it. 

 

So the answer is no


 

not the stadium money lender. 
 

the original lender that wanted the security against the stadium hence the loan. 

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2 hours ago, youngowl said:

So if the club went into administration who would own the ground if the dummy company had not paid for it.

 

Probably the loan company who Chansiri borrowed off and used the ground as security. 

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Spoiler

 

Here is the extract from the Charge registered at Companies House

FE72DF33-EE4E-4D71-8EAB-93094A0931CA.png

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3 minutes ago, Marro said:
  Reveal hidden contents

 

Here is the extract from the Charge registered at Companies House

FE72DF33-EE4E-4D71-8EAB-93094A0931CA.png

 

Full public details:

 

https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/kHB9Bx7GwbxBaSNr71ze8KtrD186JLz9A0I7NMLYDV0/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAWRGBDBV3KAERHTWX%2F20210221%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20210221T103717Z&X-Amz-Expires=60&X-Amz-Security-Token=IQoJb3JpZ2luX2VjEK7%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEaCWV1LXdlc3QtMiJIMEYCIQDLBEkqteptJhIsPtdXqFUN7gkbLDA4Zo9uVnxAPYZvogIhAKUK3uXOGmEz0Sam5J1M0cIgDHeaPO0yNVJ%2FbbydQQzOKr0DCLb%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEQAxoMNDQ5MjI5MDMyODIyIgx4eshlQCnfSm7zZZIqkQNt3Ap7rFMWAFZAwBhezQUc2bRV%2F%2BPjBLYJMG8087hLY0hbx7SZ7kDb1LG1Rfe4oknRvB9V5IM6Nfcqzwe89aT6l7Ddlk3JDR5W%2FHsCfpDARCRrFgsYxaE8%2BPQtFG%2F3glzjicvvB1wn8DnuaXVEkIiyPnlMdkYSew%2Fl1RjeTPDfHEagmjgUkb2SnEr%2F14CnwF9hR%2BmkugyGQhzSrJHFzZ5cWJEu7%2FQArRWKbYQfBrcme1p3%2BUoAO0PmFPHTBjKNpGwyQIkhA0XXwdOZUC2mEY45vpfwXlt5lk9pqW6hswdGZphPcUZJwTvzWn0rKiRZIdCXgr7UBS9nXuygkLpAin%2BupDrJHNvB8OAHdVTnzFxZv1yiV9W5K%2BzS5GTIPCBr1I69a8xWGJ2NuGDRy5uMB1YtOPLhd9fTBIEypozuvsT0gcsbhMMVh%2FR4xmWsU7BBlsWijP7BxhNNxXu6daWf7vRw580gH%2B5Hq5pCTkZ2cmKj%2FR047QZ7sJ45L1pcc3ifeU4D%2BSpHBMzDPfJTj726gtu0WjCL3seBBjrqAUGATqJC9ZcUWu6JbGmUuuJU9Q%2BJRYVV7oXvqLAkGonQnVdmbULJEZw7TOyCJvRCQdoFbpM7m%2FLr79C0PuzUc4aDJ9CFdSqT102wURpltIHPJ7OJeUE2sGp9ctk0pw6kz3G9v%2B5w8T8DHCb2mX5FLEdaeQ2BDsdyYTmexdFYuvrRssz3Gtc2nmlz3%2BthtxE62EfxbTpkrimJYr0Gd8Kn96uWPWidFAq9ntj8mn8McX6Fni90cu9SBMkQaLGYDE3wUkE1cd35eC%2B8SUVFi8%2FautzCzhi8%2Fn%2BRnsP8sEl78KkKXq%2Bub85XaODPug%3D%3D&X-Amz-SignedHeaders=host&X-Amz-Signature=f83c8b736c27c1a78e71f01b68621eefc02e7290957953086207397dd7e11683

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Is it normal for the charge to be registered with the broker rather than the lender?

Edited by Grandad

"The best poster on Owlstalk by far" - Kaven Walker

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3 hours ago, youngowl said:

So if the club went into administration who would own the ground if the dummy company had not paid for it.

Yep, it’s was and asset stripping exercise IM(not in the know)O.


I suspect Chansiri wants done kind of an insurance policy to ensure he can get some money back if it really goes wrong. The guy is the big danger our club and fans need to start waking up to that fact before we end up as a Chalton/Hull/Wigan or worse.

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1 minute ago, Stevelknievel said:

Yep, it’s was and asset stripping exercise IM(not in the know)O.


I suspect Chansiri wants done kind of an insurance policy to ensure he can get some money back if it really goes wrong. The guy is the big danger our club and fans need to start waking up to that fact before we end up as a Chalton/Hull/Wigan or worse.

Sadly there's a significant number of our fans who'd still reckon it's all part of a huge master plan when Hillsboro has been bulldozed, they've started building commercial units on the land, Wednesday are lining up against Hallam FC in Hillsborough Park and Chansiri hasn't visited England for 5 years


"The best poster on Owlstalk by far" - Kaven Walker

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3 minutes ago, Grandad said:

Sadly there's a significant number of our fans who'd still reckon it's all part of a huge master plan when Hillsboro has been bulldozed, they've started building commercial units on the land, Wednesday are lining up against Hallam FC in Hillsborough Park and Chansiri hasn't visited England for 5 years

 

"He's just been badly advised"

 

Or something along those lines 

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3 hours ago, mkowl said:

The charge is registered to New Avenue Projects Limited, but I don't think they are the lender more brokered it. 

 

So the answer is no

Thats a front entity for a sports vulture fund that helped crash Watford before Pozzo bought on banhruptcy verge.

 

Our agreement has been posted on here, states full repayment of £6.5 million by this September. 

 

Otherwise, we lose stadium.

 

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13 hours ago, Utah Owl said:

Chansiri playing a blinder?

 

Only in the sense that he''s blind to reality!

 

"Thank you... I think"

:Chansiri:

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15 hours ago, Derick Mills said:

, I think if it's HRMC then it's liquidation 

Once HMRC get involved then it's as good as over..though due to covid they have said any company struggling will be given time...some have said they will even allow up to 24hrs😆

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2 hours ago, Grandad said:

Is it normal for the charge to be registered with the broker rather than the lender?

Same mob that nutty Watford owner used, pre Pozzo. 

 

Have a Google. Worrying what Hornets fans thought of their role in trying to destroy club.

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5 hours ago, mkowl said:

Nope - the 7.5m was simply from the accounts in 2018. The total was 60m and it was disclosed that 7.5m was payable in one year and the rest in equal annual instalments.

 

That is part A

 

Part B is that SWFC owes S3 for rent. I have no idea what that rent is. There are clues within the EFL appeal legal shizzle that the valuation of 60m was derived from a rental yield calculation.

 

So its been suggested the rent will be in the region of 4m a year to achieve that.

 

The two will be offset so S3 has to contribute a net 3.5m in cash.

 

Let's not forget real cash will have to be going in. There is no shuffling the chairs - its real money. The delays in getting that in are why the players are late being paid

Panel stated £3 million annual rent, ie more than West Ham pay.

Whats ramifications please if cant get going concern sign off?

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1 hour ago, Hornsby said:

Thats a front entity for a sports vulture fund that helped crash Watford before Pozzo bought on banhruptcy verge.

 

Our agreement has been posted on here, states full repayment of £6.5 million by this September. 

 

Otherwise, we lose stadium.

 

 

Nothing to worry about then.

If we are struggling to pay in September just sell Barry Bannan.

DC knew what he was doing getting him to sign that new contract.

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14 minutes ago, Marpals said:

 

Nothing to worry about then.

If we are struggling to pay in September just sell Barry Bannan.

DC knew what he was doing getting him to sign that new contract.

Or the £150 million sponsorship deal is signed.

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