2012 and all that Jazz

[the valiant]

The same to you LB

Wouldnt it be great if the only thing we wanted to go the vale for was the football hope this comes true in 2012 best wishes to all other vale fans

[vale in the blood]

Merry christmas to you Lb and your family...hope we can all enjoy a better 2012 together,thanks for keeping a eye on us,when the time comes,vale fans wont forget it.

[billbee33]

A merry Christmas and all the best for the new year to you and your family LB. hoping to see you in your new job as CEO of PVFC. early in the new year.

[TheLegalBeagle]

Think it would have to be admin for Chaudry to get in, needs a 75% majority for the shareholders to allow it, which I don't think would happen at the moment even if the Chuckle brothers left.

 

Hi Phil,

 

The other issue is the personal guarantees as per the Articles. Any incoming Director / Interim Board will have to sign up to the personal guarantees to the bank and given the overdraft and the prospect of administration this is a tall order even for those with deeper pockets - i.e. sign up to the overdraft knowing the club may fold and then be left to pick up the tab - cheers BB & Co. It is a mess.

 

If it is admin then best it occurs on the watch of PD,PM,ML,GO - and PD/PM cannot just walk away from their personal guarantees by resigning - unless someone else signs up in their place or indemnifies them.

 

It will be interesting to see how this plays out.

 

Regards

[Sandyford_Lion]

Administration almost certain to follow.

 

What is the danger then of Jackson and co, becoming involved ?

 

Surely they would not come back !!!

[NLVMalc]

LB

I'm not convinced they have signed. Lodey has ignored my question about whether this is true. Is that a dereliction of his duties?

[Conrad]

Hi Phil,

 

The other issue is the personal guarantees as per the Articles. Any incoming Director / Interim Board will have to sign up to the personal guarantees to the bank and given the overdraft and the prospect of administration this is a tall order even for those with deeper pockets - i.e. sign up to the overdraft knowing the club may fold and then be left to pick up the tab - cheers BB & Co. It is a mess.

 

If it is admin then best it occurs on the watch of PD,PM,ML,GO - and PD/PM cannot just walk away from their personal guarantees by resigning - unless someone else signs up in their place or indemnifies them.

 

It will be interesting to see how this plays out.

 

Regards

I would love for pd pm to be taken to the cleaners, just say mo would still be interested tho.

[staffs]

Its all a mess but lets face it.......... NOW it couldnt carry on

[Conrad]

Its all a mess but lets face it.......... NOW it couldnt carry on

 

Sorry, i dont understand your point.

[TheLegalBeagle]

LB

I'm not convinced they have signed. Lodey has ignored my question about whether this is true. Is that a dereliction of his duties?

 

Hi 2VB,

 

It is a breach of the articles and gives rise to all sorts of concerns. If PVFC has been trading in breach of its articles then this may give rise to various causes of action against the directors - particularly given a clear breach of fiduciary duties.

 

No doubt all will become clear once the debris is cleared.

 

Regards

[MagicFlask]

LB

I'm not convinced they have signed. Lodey has ignored my question about whether this is true. Is that a dereliction of his duties?

 

Surely they would be "deemed" to have agreed to the financial liabilities clearly stated as being associated with the the role of being directors ( as defined in the club / company's articles) by stating that they have been appointed and then acting as appointed directors of the company - regardless of whether they have actually signed. It would be possible that they could try to weasel their way out of it, but I am hopeful that they would not succeed.....they have fiduciary responsibilities, and those must surely stick to them.....

 

Personal view, maybe some legal expert could correct if I'm wide of the mark....

[Vale]

Hi Phil,

 

The other issue is the personal guarantees as per the Articles. Any incoming Director / Interim Board will have to sign up to the personal guarantees to the bank and given the overdraft and the prospect of administration this is a tall order even for those with deeper pockets - i.e. sign up to the overdraft knowing the club may fold and then be left to pick up the tab - cheers BB & Co. It is a mess.

 

If it is admin then best it occurs on the watch of PD,PM,ML,GO - and PD/PM cannot just walk away from their personal guarantees by resigning - unless someone else signs up in their place or indemnifies them.

 

It will be interesting to see how this plays out.

 

Regards

 

Bratt insisted today that Miller and Deakin had not signed PG's whilst he was still one until the end of January

 

If the rumours are true we could well be in a far worse state, all will come out in the next few days no doubt

[the old bycars tea bar]

I don't like the idea of bratt sniffing around

 

I presume he and the others are looking at pg side of things, I just dont want him or the others sniffing around especially with oliver backed into a corner

[Aussie Rules]

Hi All,

 

Just a short note to wish you all a Merry Xmas and a Happy New Year...

 

Kind Regards

 

And to you too LB, plus my thanks for all your support for all things Port Vale.

 

Barry :)

[Fosse69]

I don't like the idea of bratt sniffing around

 

I presume he and the others are looking at pg side of things, I just dont want him or the others sniffing around especially with oliver backed into a corner

 

We need a "trustie" in to assess the state of the club. No arguments, no guff, just do it.