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Mr Smurthwaite's games begin........

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Sponsorships, grants, donations, community venture, business partnerships. Lots of ways to finance a new stadium. It’s needed

 

No one in their right mind should or I believe will purchase Vale without ground ownership. A recipe for financial disaster as Smurthwaite will keep upping the anti to destroy the club moving forward. I am dead set against this to such a point I wouldn't fund him ever again even if it meant not watching Vale home games after 44 years. I have my pride and can't continue to see him ruin my beloved Vale.

 

If no such deal is possible a new stadium is the answer, it would probably be good for the club in some respects and I'm sure the interested parties have explored this already - I do hope so.

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Reading all this I'm left wondering if anyone on the site knows what is involved in declaring a company insolvent?

 

I'm not an expert by any means, in fact far from it, but my understanding is that if a company files for insolvency, it has to prove to a court that it is unable to meet its debts. Reading it up in Wiki, it also seems that the first aim of the court would be to see if there is any way the company can be rescued, in the interests of its creditors, rather then simply being dissolved. Then it looks as if the timing is also very important; as I understand it, the Directors are under a statutory duty to declare a company insolvent as soon as they know they cannot meet their debts. Otherwise, they might be seen to be trading wrongfully, which I understand would make them personally liable for any debts after the point they knew the company was insolvent.

 

I'm unsure about all this. Does anyone know the legal position? Can you just decide you're going to declare yourself insolvent months in advance? Can you do it deliberately under company law to bring your business to an end? Can you separate out essential assets (like the ground?). I just don't know.

 

Others on this site may know more than me (highly likely), paticularly if they were involved in our previous admins, so it would be good to get a view as to what can and can't happen.

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Irrespective of who owns the club, I would not want to pay him rent, would much rather groundshare with Stoke!!!

 

Paying rent to him further enhances his grip on all who love PVFC.

No chance should this happen under any circumstance or outcome.

Should this happen I won't set foot in Vale Park ever again - end of

 

I have too much pride and love the club too much to further fill his pocket and ego.

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Been saying Norman's a disgusting vindictive fat mess for years. Vile vile parasite that hasn't once thought about anyone but himself. The man is clearly deluded and not well. If his family cared about him they'd intervene. He needs sectioning, that interview was an absolute car crash from a man on the edge, and a danger to himself and others.

 

No one to blame but himself. Get gone.

 

Agree with all of the above.

 

As Jean Jackson said earlier on Radio Stoke, he doesn't sound well.

 

I remember being amazed when I first saw in The Sentinel, not long after him and Wildes took over, a picture of him and his age quoted - I genuinely thought there had been a typo on his age and that he must be 10 years older than stated!.......he's a heart-attack waiting to happen.

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We should not be too despondent about Mr Smurthwaite's ramblings. His interview on Radio Stoke tonight heard him quote different figures for keeping the club running during the three summer months, with a discrepancy of £150K between his two figures. He refused to answer the question about selling to Carol, by referring to his empowerment of Colin Garlick to sell now. He would not be drawn into why he refused to sell to her earlier. He contradicted Carol about the terms of her bid, and I know who I believe. Clearly the campaign is working, we should continue to protest. Mark Porter speaks for Port Vale fans. Mr Smurthwaite referred scathingly to those trying to remove him as people operating without a plan. That really is a case of pot kettle black. Carol has a clear plan. His claims about loss of sponsorship have been exposed by publication of a key email containing a crucial date about the date when that supposed deal died.

 

All of this underlines his desperation as evidenced by his continued attacks on his detractors and his unwillingness to answer direct questions. His inability to recall what he has said and done previously also support the notion that he is desperate and lashing out against his perception of the enemy. He is unable to recognise that his continual attempts to compromise the integrity of Carol and Mark Porter do nothing but compromise his own rapidly diminishing integrity. His constant verbal attack on the fans, his customers, belie any notion of him being a smart businessman.

 

We must keep the faith, maintain the pressure, stay within the law and the common rule of decency and humanity towards Mr Smurthwaite. However, we must continue. This is a battle that he cannot win.

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Reading all this I'm left wondering if anyone on the site knows what is involved in declaring a company insolvent?

 

I'm not an expert by any means, in fact far from it, but my understanding is that if a company files for insolvency, it has to prove to a court that it is unable to meet its debts. Reading it up in Wiki, it also seems that the first aim of the court would be to see if there is any way the company can be rescued, in the interests of its creditors, rather then simply being dissolved. Then it looks as if the timing is also very important; as I understand it, the Directors are under a statutory duty to declare a company insolvent as soon as they know they cannot meet their debts. Otherwise, they might be seen to be trading wrongfully, which I understand would make them personally liable for any debts after the point they knew the company was insolvent.

 

I'm unsure about all this. Does anyone know the legal position? Can you just decide you're going to declare yourself insolvent months in advance? Can you do it deliberately under company law to bring your business to an end? Can you separate out essential assets (like the ground?). I just don't know.

 

Others on this site may know more than me (highly likely), paticularly if they were involved in our previous admins, so it would be good to get a view as to what can and can't happen.

 

That all makes sense but he said he would pay off all debts and liabilities so that he was the only creditor. If the only creditor is the one putting the company into insolvency how does that affect things?

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The scenario with this deranged unhinged vindictive person is that his rental prices will not be competitive to the new owners.

He has us by the short and curlys

 

I'm sure it has been said somewhere that when the ground and club were split the EFL put a maximum figure on what rental could be charged for a certain number of years. I think it was something like £150k per year. Anyone remember the details?

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You are dealing with a man who

 

A: openly admitted to forcing a manager and players out the club via reduced contract offers

B: wouldn’t appoint JFH as the fans are racist

C: claimed to be beaten up by vale fans but police have no record of it

D: decided to play football manager and appoint a relative unknown foreign manager and numerous unknown players

E: had 3 seasons of continuous failure on the football field but it’s not his fault

F: another director (risdale) couldnt deal with him over a transfer of a player which unfortunately has probably lined his pockets to the tune of £1.9m

 

The blokes got bi polar or some other illness and on another level he’s a ******....

Edited by Aussie Rules

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C: claimed to be beaten up by vale fans but police have no record of it.

And isn’t it just convenient, that both the alleged ‘attack’ and car accident, happened in two of the few spots, were cctv can’t see it?

Makes you wonder... 🤔

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You are dealing with a man who

 

A: openly admitted to forcing a manager and players out the club via reduced contract offers

B: wouldn’t appoint JFH as the fans are racist

C: claimed to be beaten up by vale fans but police have no record of it

D: decided to play football manager and appoint a relative unknown foreign manager and numerous unknown players

E: had 3 seasons of continuous failure on the football field but it’s not his fault

F: another director (risdale) couldnt deal with him over a transfer of a player which unfortunately has probably lined his pockets to the tune of £1.9m

 

The blokes got bi polar or some other illness and on another level he’s a ******....

 

All of these points ( IMO) need to be presented to the EFL. If that’s a fit and proper person the EFL need to be taken to task. They are selling us short.

Edited by Aussie Rules

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Anyone have any idea how many offices are in the Vale Park Enterprise Centre and whether the income from these go into the club or not?

 

There's a line in the 2016 accounts that says Rents received £73,117 so I assume that is the VPEC income. Don't know how many offices there are.

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