Sentinel today, council loan

[Robbie Earle's Perm]

They would have every reason to.

 

They would have a real nerve given the millions their club have benefited from with regards to the 'Community Stadium'.

[melv]

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.

 

Does ANYONE have any idea just what 'Oliver the orrible' is supposed to be doing to save the club form the very people who it depends on for the club to survive?

 

I find it amazing that with everything that is going on that they have not come out and said "we are in the process of ........... This will move the club forward etc etc etc.With this in mind I don't think that the is any plan at all.The only thing they are interested in is saving their own backs.At least before they had a plan A but no plan B.But they don't even have a plan A for the club at the moment.

[Robbie Earle's Perm]

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.

 

Of course they knew. Yes they are inept and devious but make no mistake they are not stupid. The worst thing we can do is underestimate them. They see much of what our intentions are daily whilst they release very, very little information.

[the old bycars tea bar]

as long as the repayment is made i dont think the council will do anything, its when they default they will be in **** street

 

i notice no comment again from our great leaders i have a free hr or so this afternoon so might go take clive a brew

[Howjy04]

Hands up who is surprised in anyway?

 

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

 

I can only think that the payments are up to date.I suppose if they missed one.........

[Leicestershire Valiant]

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!

 

The club is a "limited company" so the directors carry some financial responsibility for the club, but they don't risk losing all of their personal assets when things go wrong.

[BRIT1974]

Wheres cheesy whatsh 1 t and davetheplebroberts?

 

thought they wouldn't be able to help themselves to say their piece.

[Goal Drought]

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 council are an absolute disgrace having given Stoke there ground for a fraction of its value, they now threaten to stalk Vale on repayments of a moderate loan despite not yet having missed a repayment.

[Jacko51]

My understanding of the Council Loan agreement suggests that the Council could have kicked up a fuss when the club took out a loan from Harlequin a couple of years ago. That breaches clause 12.23 Restriction on further Financial Indebtedness, which clearly states, "The Club shall not incur any Financial Indebtedness".

 

I suspect the club may well have breached clause 11 .2 Financial Information which reads as follows:

 

11.2. 1 The Club shall:

(a) as soon as the same become available (and in any event within

180 days after the end of each its Financial Years), deliver to the Council its Accounts for the relevant Financial Year which shall have been audited by the Auditors.

 

The club’s financial year ended on 30 June 2011 so the 180 days expired on 27 December. The Council should now be in possession of the Accounts. As no one else is, I think it’s unlikely that they have been received but it is possible they have been released to the Council but not the shareholders.

 

The Council are stuck between a rock and hard place here. I don't envy their position.

 

By the way, if Vale default on any payments to the Council, any overdue money becomes subject to the defalut interest rate which is 9.5%!

[Jacko51]

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.

 

Mr Jacko was at that game. He tells me Vale lost 2-0 to goals by Barry Endean and Stewart Scullion with the second goal being the result of quickly taken free kick while the Vale defence were asleep.

 

Sadly, despite remembering all of this, he can't remember where he's left his pants! :D

[BIRCHES HEAD WHITES]

it is in the councils interest for them to be as lenient with vale as possible . if the decide to be ruthless they stand to lose their money and gain a football stadium . in the current climate the addition of a football stadium to the council property portfolio with appear ridiculous , where as repayment of near 2 million would do very nicely thankyou.

[cheeky]

The council are an absolute disgrace having given Stoke there ground for a fraction of its value, they now threaten to stalk Vale on repayments of a moderate loan despite not yet having missed a repayment.

 

 

So, you think the Council are disgrace? How about our board who knowingly took out this second loan in the first place? What do you think of them? They have surely commited an act worse than the Council have. Or is this simply an attempt to try and pass the buck and take the attention off the crooks in the board room? Poor effort in any event if it was.

[jasmart02]

Mr Jacko was at that game. He tells me Vale lost 2-0 to goals by Barry Endean and Stewart Scullion with the second goal being the result of quickly taken free kick while the Vale defence were asleep.

 

Sadly, despite remembering all of this, he can't remember where he's left his pants! :D

 

I was only 8 years old all i can remember is some bloke on the coach imitating Tom Jones on the way back. and i think we may have sat down which i am guessing may have been unusual back the.

[For Us All]

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?

 

It seems Milker has done a Lord Lucan.:rolleyes:

[For Us All]

Does ANYONE have any idea just what 'Oliver the orrible' is supposed to be doing to save the club form the very people who it depends on for the club to survive?

 

I find it amazing that with everything that is going on that they have not come out and said "we are in the process of ........... This will move the club forward etc etc etc.With this in mind I don't think that the is any plan at all.The only thing they are interested in is saving their own backs.At least before they had a plan A but no plan B.But they don't even have a plan A for the club at the moment.

 

Come on now melv,have this lot ever had a plan.They make it up has they go along and then when it all goes ***5 up they go into hiding, claiming they know nothing about anything and blaming everything on anybody but themselves.