Vale Park Remortgaged

[TheLegalBeagle]

You protested for change for the last year and you've certainly got it now. Crooks are the only people who would have been interested in taking over and crooks are what you've now got. Super mo has now decided it isn't for him.not was always going to end like this.

 

Be careful what you wish for

 

Dear Dave,

 

Mo has decided no such thing.

 

Regards

[Megavaliant]

http://www.soca.gov.uk

This the serious organised crime squads web site they are the people to deal with perhaps Pete Williams or our legal eagle will it costs nowt===

[FATBOYSTEVE]

Perhaps we could persuade our local M.P. to organize a type of "bank bail out" loan that never has to be paid back or alternatively submit some expense claim forms covering the Vale debt - its amazing what is possible these days - if anything dodgy appears we can get the London "met" to investigate, after suitable embersements, to give us a clean bill of health.

[Samwelo]

All the details of registered documents can be found on Companies House, they are £1 each to download, use http://wck2.companieshouse.gov.uk/659c528f39c1e1ccb62ffa14885f5f19/wcprodorder?ft=1.

 

It would appear that there was a mortage document registered January 2008 in favour of Co-Operative Bank which is still in place, this new mortgage will be a second mortgage. There doesn't appear to be any charge in favour of SOT council.

 

If the club has taken out the loan then so long as the money has been paid in to Vale's bank account then the purchase of the shares is purely internal accounting.

 

The problem will be if the money has been paid to Miller or Deakin first for them to then use to purchase the shares, but internally if they have the shares then in the accounts there should still be a Directors Loan in their name.

 

As for the mortgage document, the signature on the bottom will be the solicitors in Manchester who registered the mortgage.

[Stafford Valiant]

LB

 

I/We would be interested to know your feelings regarding this news.

[Robbie Earle's Perm]

Maybe Mr Miller is Snoop Dog's home boy and thats why he has 8 flights a year. He is testing Glenns goods at his farm, It must be good ****, now we all no why Miller is so fat:laugh:

 

Thought that produce was supposed to make you skinny!? ;)

[Chelmsford Vale]

Possibly this could be fraud, you cannot take out a loan on an asset that you are unable to put forward as security and if the existing mortgage forbid a further loan then to my mind that is fraud. There needs to be a criminal investigation here

[Robbie Earle's Perm]

 

It would appear that there was a mortage document registered January 2008 in favour of Co-Operative Bank which is still in place, this new mortgage will be a second mortgage. There doesn't appear to be any charge in favour of SOT council.

 

There is a big problem if the Co-Op didn't approve this second mortgage and likewise if this new Gibraltan company didn't know of the Co-Op mortgage.

 

They can't both have the first charge on the property under which the mortgage is secured and if info has been witheld or ommitted from the 2nd application this brings it into the realms of mortgage fraud.

[Toby]

I'm glad I've never had it so good...

 

*****.

[billbee33]

Just a thought, reading todays Sentinel, it states the board will decide what to do with Deakins 100k block of shares, well if deakin had paid for these shares out of his own pocket, there would be no need for the board to decide what to do with them, but if these shares had been purchased with a remortgage, then the directors would want to know what to do with them, as the shares would belong to the club, peraps illegally, so if the latter is correct then all four directors plus Lodey should be bought to book.

[MagicFlask]

Ok...any legal experts about?

 

From what I think I know about mortgages / secured loans, the only way the Gibraltar folk could get their money back from repossessing VP is if they paid off the prior loans already secured on it, of which they would have had notice at the time of lending. So the Council AND the Co-op bank would have priority in terms of any proceeds of sale of the ground - and the Gibraltar folk would only get back what was left after they'd been paid off.....so all might not be as black as it first appears.....but then I'm not an expert on mortgages here....personal opinion based on what I remember......

 

The other key issue is whether the loan is legit - whether it was taken out properly....I suspect it's been used to bail the club out from going under, and might amount to fraud if there's no reasonable prospect of it being repaid - but again, that's an opinion.....

[Guppy 4 England]

Which mugs will have issued a loan? Quick quid?

 

Screwed now, thanks bill bratt and you bunch of incompetent idiots hope they all end up in prison.

 

How can illegal directors enter into financial agreements? Surely we can sue someone for this? Still we know how the wages got paid this month .

[Howjy04]

Oh Christ

 

This is going to kick off big time.

 

Divine intervention may help Doha.;)

[KEV.WILLIE]

You protested for change for the last year and you've certainly got it now. Crooks are the only people who would have been interested in taking over and crooks are what you've now got. Super mo has now decided it isn't for him.not was always going to end like this.

 

Be careful what you wish for

 

Ok so you were happy with how things were being run!! and it was your mates that got these crokks in!!!

 

So you just sit there and ring your hands, shame on you for sinking so low

[Toby]

Even now Deakin is milking the club. He will want his indefinite notice period paid whereas he should be going for free on gross misconduct.

 

What a mess.