Sentinel today, council loan

[Vale]

I hope so but usually it's the club that suffers while the individuals get away scot free, it's the same when a board sends a club into admin, why don't the individuals involved ever face ruin!

 

There are legal precedents that the directors should not use company money to defend themselves against shareholder disputes

[Tosh]

There are legal precedents that the directors should not use company money to defend themselves against shareholder disputes

 

Didn't they use club money on legal fees to help protect their selfish ***** at the last EGM?

[Tosh]

Here we go....

 

http://www.thisisstaffordshire.co.uk/Port-Vale-Vale-loan-breached-council-cash-deal/story-14401620-detail/story.html

[grebovale]

So the council are going to sit back until they default on the payments .

[matt]

I hope so but usually it's the club that suffers while the individuals get away scot free, it's the same when a board sends a club into admin, why don't the individuals involved ever face ruin!

 

Yeah this is true, however I cant think of an instance where a board of directors have acted in such a disgraceful self serving manor but having said that I do not know the details of various other clubs that have gone to the wall e.g Chester City. Its beyond belief that these scum bags have acted in this manor. I am now seriously worried that what lies in store for us may be worse than admin, the reason I think this is whatever they are hiding is huge otherwise they would walk. We now know a great deal of the dodgy dealings that they have done, just imagine what we don't know, very scary indeed :(

[nodge]

I think you may have hit the nail on the head there Matt!

[llcoolj]

Why the hell isnt Miller being held to account for all this?

Where is he and more importantly what did he do with the money?

[Howjy04]

Can the council now insist on going through the finances at Vale ?

[carpetman123]

Why the hell isnt Miller being held to account for all this?

Where is he and more importantly what did he do with the money?

 

I,ve just said as much on the sentinel comment....where is he and if the money went into the club and their share money!! there why are we not cash-rich?

[Ben]

Why the hell isnt Miller being held to account for all this?

Where is he and more importantly what did he do with the money?

 

This is why I started a thread yesterday that Lloyd should be answering some questons on whats going on at this club instead of hiding its not good enough.

[Timothius]

None of it is good enough. They don't answer questions because they have no answers. We are being run by a failed businessman, a deluded IT worker with nil commercial experience and a lying conman. Just how do they think they can get us out of this mess and, more importantly, what are they actually doing?

[melv]

Cue all the SCFC fans badgering the council to get their money back!!!

 

They would have every reason to.

[jasmart02]

If i had known it was going to turn out like this, when my Dad dragged me out of bed at stupid o clock to go to Watford in i think 1969 FA Cup,I would have gone back sleep. Still at least Mr Oliver is saving the club from people like me.

[Robbie Earle's Perm]

They have breached the Council loan agreement by taking out the Gib Loan and the council , could in theory call in or re-finance the loan which could jeopardise the club. Pervez says that by calling in the loan it could have very serious repercussions putting the club certainly into admin it has breached the agreement which says no other loans could be taken whilst we still owe the council. The officers are watching the situation and monitering it quite closely as they dont wish to jeopardise the club but on the other hand have to protect public money. The club were unnavailable for comment!!!!! now theres a suprise!!!

 

Hands up who is surprised in anyway?

 

What I dint understand is why the Council haven't forced our hand on this yet?

[Jinkin John Jeffers]

I for one don't believe the other "directors" knew nothing about this loan.

 

They just got found out and are blaming Mr Miller out of convenience.