Liquidators

[Jimmy]

Yep Bratt legally flogged his shares to Lloyd so he will go scott free.......Can Lodey be implicated in anyway as Club secretary he MUST have been aware of this 'nil paid share' issue.......

[Richy Rich]

Yep Bratt legally flogged his shares to Lloyd so he will go scott free.......Can Lodey be implicated in anyway as Club secretary he MUST have been aware of this 'nil paid share' issue.......

 

Whilst it would be great if all the "Directors" and Lodey got done, I guess that it may only be Lemon Zest and Mr Blobby (and poss Lodey) who will get shafted.

 

That said, it would just be great to see all 9 get publicly embarrassed on the front page of Senile.

[geosname]

It may depend on what he knew and/or what he didnt do as opposed to what he did

[Richy Rich]

It may depend on what he knew and/or what he didnt do as opposed to what he did

 

I don't think that ignorance is a defence.

[Andy06]

hope they take the scum bags to the cleaners.

[geosname]

I don't think that ignorance is a defence.

 

Ignorance of the law isnt usually a defence, doing nothing isnt necessarily an offence, doing nothing when you have a duty to act could be.... it could be argued that his duty [as a director] to the company and its shareholders could place him in jeopardy if he did not act if/when he knew.....

[Santa]

Yep Bratt legally flogged his shares to Lloyd so he will go scott free.......Can Lodey be implicated in anyway as Club secretary he MUST have been aware of this 'nil paid share' issue.......

Wasn't Bratt still on the board when the nil paid shares were issued to Deakin and/or Miller? The board would have been Lloyd, Oliver, Bratt and Adams at that point. Deakin used his own shares to vote himself on the board so Bratt can't have left by that time.

 

Lodey was aware of the nil paid shares as he was the one who completed the return to Companies House which rumbled them.

[onestepatatime]

We are going to have to trust the liquidator to seek evidence and hear submissions from the suspects and then they will legally decide if any course of action is open against one or all of those held responsible.

 

My trust in the legal process however is very limited and it's seems general that those in high places usually come out of sticky situations with just a kick up the ****!

[Jacko51]

Wasn't Bratt still on the board when the nil paid shares were issued to Deakin and/or Miller? The board would have been Lloyd, Oliver, Bratt and Adams at that point. Deakin used his own shares to vote himself on the board so Bratt can't have left by that time.

 

Deakin announced his candidacy for the Board in September 2011. He was "elected" to the Board at the beginning of October and Bill Bratt resigned at that point. The shares must have been issued to Deakin prior to his taking a seat on the Board otherwise he would have been in breach of the Articles of Association.

[geosname]

Wasn't Bratt still on the board when the nil paid shares were issued to Deakin and/or Miller? The board would have been Lloyd, Oliver, Bratt and Adams at that point. Deakin used his own shares to vote himself on the board so Bratt can't have left by that time.

 

Lodey was aware of the nil paid shares as he was the one who completed the return to Companies House which rumbled them.

 

That raises the question re adams position on the board and what he knew as no decision can be made by 3 directors as it is inquorate [i think]. If he voted he possibly as liable, if he didnt it pushes onus onto the other three who made the decision when the decision could not have been made.... Mmmmmm machinations

[bookworm]

Why would you ever want such a great tune out of your head?!? :D

 

 

that does bring back a few memories:D

[bookworm]

Judging from the paperwork sent to creditors, they appear to have been appointed by the court. Begbies put a cap on their fees for the administration - don't know if this carries on to the insolvency bit.

 

they do charge a fee but not sure who pays, and there's no time limit as it took liquidators 4 years to nail Ridsdale across 3 clubs . Begbies were in the pound seats as i believe BJ, hinted at this after the club came out of admin as he said they would swap hats and go after monies owing to the creditors once vale 2001 was wound up, this could be the very interesting part,brings out the sadist in me.

[Conrad]

Ignorance of the law isnt usually a defence, doing nothing isnt necessarily an offence, doing nothing when you have a duty to act could be.... it could be argued that his duty [as a director] to the company and its shareholders could place him in jeopardy if he did not act if/when he knew.....

 

He repeatedly turned down legitimate offers for the club even though he knew the club was on its knees and very close to admin.

This is gross negligence, and certainly not acting in the best interests of the shareholders.

[boltonsno1]

I really, REALLY hope they can find something to nail Bratt with.

 

We all know Deakin was obnoxious and sneaky, but we knew that from the start because of who appointed him. Bratt on the other hand was the biggest conman of the lot of them. He was the one who convinced honest hard working people to part with their cash to fund his whimsy, by making them believe they had a say in how the club was run, and how he was "one of us".

 

He fooled everyone for years. The man was nothing more than a nasty, vile conman. I'll never forgive or forget how he tore the fanbase apart, how he almost bought the club crumbling to its knees. I wish Smurf would ban him for life.

[andy jones]

Jean

 

As usual you are right.

 

(It is my understanding) Bratt wrote a letter to the Chairman that he would resign from the Board as soon as another Director was voted on to take his place. Deakin was that man.

 

So as soon as Deakin was voted on Bratt had to resign and Glenn Oliver also agreed to leave at the forthcoming AGM. i.e. the end of the V2001 as we knew it at the time we started protesting.