Is this the end for our Green chums ?

[EX4 6PX]

a case against the Administrators heard by Mr Justice Mann.

That sounds like its straight out of the deep South.

 

[BigBanker]

Interview with Stapleton

http://news.bbc.co.uk/sport1/hi/football/teams/p/plymouth_argyle/9414349.stm

 

[STURTZ]

Interview with Stapleton

http://news.bbc.co.uk/sport1/hi/football/teams/p/plymouth_argyle/9414349.stm

That interview is such a laugh! He left the club after he had f*cked it up, hands responsibility to faceless moneygrabbers and he ends the interview saying that if he hadn't brought in Ridsdale the club would be gone.

"I don't want any pats on the back"!

F*cking hilarious, not in any way surprised that porkie was taken in by him!

 

[Mackster]

Heh heh heh heh !

I now where you are coming from but to me this smacks of the Riddlers game plan and suggests that it wasn't all talk when he implied there was at least one suitor in play.

Eggactly

BG knows there is no immediate funds and has said a deal needs to be concluded by 17th March. So I smell a pre-pack with the old directors acquiesing to the Riddlers demands so they at least get something out of their investment and some form of involvement in PAFC 2011.

So they need 75% approval from creditors, of which most are the ex-directors. I guess paying the lumps off previously to HMRC has weakened the chances of them defeating a CVA as their liability is now way below 25%.

I think the Riddler has saved the day and has played an absolute blinder in "nicking" a football club for next to nothing.

 

[Reggie T42]

I get much of my pleasure reading on exeweb, especially about the "olde enemy" suffering a bit (no...a lot)...there is a cost to me just participating in this obsession,..I know....but as a tax payer I am not prepared to save Stapletons thousands and certainly not make the Riddler potentially millions just because it helps society to keep up tribal warfare through football. Please let all this sh*t end+o(

 

[Phil Sayers]

Eggactly

So they need 75% approval from creditors, of which most are the ex-directors. I guess paying the lumps off previously to HMRC has weakened the chances of them defeating a CVA as their liability is now way below 25%.

An administrator is under no obligation whatsoever to enter a CVA and if they are looking for a quick sale they won't have the time or the inclination to do so. A CVA is normally used as an alternative to administration.

However if they don't agree a CVA I believe they will get a further points deduction.

 

[DB9]

I cant help thinking that Ridsdale, Stapleton and this Administrator are sharing a glass of wine or two tonight, They've got the club for next to nothing, Ridders saying he's been "Talking" to "Investors" When the truth of it was this is the outcome those three wanted. I might be wrong but time will tell i guess but something stinks and to top it off would be the Council buying the ground, Those three sharing the pay day it will bring and the people of Plymouth having to fork out £millions while their Councils budgets have been slashed by £10m+ and hundreds about to lose their jobs

 

[Reggie T42]

I cant help thinking that Ridsdale, Stapleton and this Administrator are sharing a glass of wine or two tonight, They've got the club for next to nothing, Ridders saying he's been "Talking" to "Investors" When the truth of it was this is the outcome those three wanted. I might be wrong but time will tell i guess but something stinks and to top it off would be the Council buying the ground, Those three sharing the pay day it will bring and the people of Plymouth having to fork out £millions while their Councils budgets have been slashed by £10m+ and hundreds about to lose their jobs

My thoughts exactly....I smell fish!

 

[LOG]

Can someone with a mind for that kind of thing tell me what this means please?;

Registration
Status : Outstanding Number : 17
Registered : 09/02/2011 Created : 25/01/2011

Details
Mortgage description : LEGAL CHARGE
Persons entitled : THE PLYMOUTH ARGYLE SUPPORTERS TRAINING AND DEVELOPMENT TRUST
Amount secured : ALL MONIES DUE OR TO BECOME DUE FROM THECOMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Short particulars : ALL THAT F/H PROPERTY K/A HOME PARK PLYMOUTH T/NO. DN547659 BY WAY OF LEGAL MORTGAGE ALL RIGHT TITLE ESTATE AND OTHER INTERESTS IN THE PROPERTY SEE IMAGE FOR FULL DETAILS

 

[Poultice]

It's the charge created against the value of Home Park to 'guarantee' repayment of the loan from the training and development trust, the 350k that Stapes nicked to make the 'final' payment to HMRC from the previous judgement.