Mo's response to Lloyd

[melv]

The phrase was in other documents, one or two were posted on OVF. The actual wording was "upto 3.8m".

 

Link????

[Paul6754]

Link????

 

I haven't got the link to hand but if you went back through the threads for MC you would find it/them. The Business Plan was laid out at the top of the thread(s).

 

The OP on this thread used info from MC's Facebook/Twitter and he says/gives the 3.8 figure himself so it is real.

[Warren]

When does the loan shark loan have to be paid back? I think the interest is 2% a month. Seems there is a dispute between the club and Miller, if Miller acted illegally as a director, is he personally responsible for the loan repayment?

 

If he is found to have not complied with the duties of a director set out in the Companies Act 2006 and the corporate person - Port Vale - suffers a financial loss as a result, then Miller would be personally liable for the loss.

[Warren]

I back mo totally.but we need mo to remain quiet,we need to not to even bring him up. as its not about him its abt getting the mold out as we all know.But mold will use mo again to get votes. no business plan..just make sure u dnt get him in...for whatever dodgy reason.

 

I think what Mo has said is quite right in the main. But there is one inconsistency in logic involving the argument that Lloyd is looking after his own investment. Of course that is true, but as I understand it he bought Bratt's shares, an unwise investment? So there is something going on in his mind which is more complex and difficult to understand if nonetheless unwise?

[Burslem Academicals]

If he is found to have not complied with the duties of a director set out in the Companies Act 2006 and the corporate person - Port Vale - suffers a financial loss as a result, then Miller would be personally liable for the loss.

 

So Miller owes Port Vale 250k for shares and probably 272k over the loan.....that's half a million....so now we know what was meant when Lloyd said "there is no £500,000"!

[zaza123]

Do they have the money, if so was it there to buy the nil paid shares, in which case it should be in the clubs bank account, if it is not in the clubs bank account where is it, remember that the Council loan for December was not paid until the 30th of January, and January's as not been paid for yet.

 

If I pulled that one with my mortgage I think the bank may see it as missing December's payment.

[Burslem Academicals]

It does look to all the world that Miller has taken out a high interest second mortgage on the ground and done a runner back to the USA with the money and yet is still a Director while the "nil paid" shares have not been paid for.

[Jacko51]

I doubt that was ever the intention, you would have to ask MC. It was stated "as per the business plan" which on reading I take to mean "as and when", which would probably be best for Vale depending on circumstance.

 

Exactly, so was it not misleading for Mr Lloyd to state on the radio that it was MC's intention to put the club into £3.8 million of debt, implying that it would happen immediately??

[Howjy04]

It does look to all the world that Miller has taken out a high interest second mortgage on the ground and done a runner back to the USA with the money and yet is still a Director while the "nil paid" shares have not been paid for.

 

How do we know Miller is still a director?We've only got Lloyds word for it.Lloyd did say Miller wasn't doing any investment seeking for the club anymore,so why would he bother his **se ,he's in the USA, with, probably, his nice little earner,reputation even more stained than it was.The fat basket is finished over here wouldn't you think?

[Jacko51]

I haven't got the link to hand but if you went back through the threads for MC you would find it/them. The Business Plan was laid out at the top of the thread(s).

.

 

http://www.mochaudry.co.uk/?p=625

[Paul6754]

Exactly, so was it not misleading for Mr Lloyd to state on the radio that it was MC's intention to put the club into £3.8 million of debt, implying that it would happen immediately??

 

My original post said it was incorrect for Mr Lloyd to state that MC's bid hadn't come under the scrutiny of the fans 'cause it had and there were/are posts on OVF to show this.

 

I can't remember if ML stated the above as per your point but if he did say those words, IMO he is being a little misleading as it doesn't imply in the businesss plan (as you have said) that 3.8m would be taken out immediately and also the words "fiscal responsibility" are used several times therein suggesting careful use of money/loans etc.

[Boslem Boy]

Mo has a simple business plan and its a better deal than anything anyone on the board could muster.

Mo's plan is real, workable and would stabalise our fragile club.

So Mr Lloyd, explain why your ideas of delayed repayments, a remortgage and nil paid shares is the best way forward for a cash starved basement league football club.

[blackdog]

Mo has a simple business plan and its a better deal than anything anyone on the board could muster.

Mo's plan is real, workable and would stabalise our fragile club.

So Mr Lloyd, explain why your ideas of delayed repayments, a remortgage and nil paid shares is the best way forward for a cash starved basement league football club.

 

Lloyd has bought his shares,stitched up by Miller and Deakin he has to hope above all hope he either a) gets his money back or b) the club is turned round,his business plan is to hang in there get on his knees and pray it all comes good in the end .......................Looks like knees it is

[Birches Head Fred]

I wonder if Lloyd would have viewed Mo's offer differently last year if he had known then what he knows now ?

 

He's dug himself into a huge hole, ably abetted by the 'sitch-up' brigade. He now has so much tied up in shares that he cannot simply walk away, but his only hope is another 'fool' with enough money and not enough sense to bail him and the others out.

 

Unfortunately it seems most people with real cash have enough common sense to steer well clear, waiting in the wings for the whole pack of cards to collapse. It can't be long now, and the postponement of Saturdays game will heap even more pressure on the board. I believe the Council are happy to allow Vale to miss 'one' payment on the understanding that they will receive the money immediately after the lucrative local derby......wether they will allow Vale to miss two though is another thing?

[TheLegalBeagle]

I wonder if Lloyd would have viewed Mo's offer differently last year if he had known then what he knows now ?

 

He's dug himself into a huge hole, ably abetted by the 'sitch-up' brigade. He now has so much tied up in shares that he cannot simply walk away, but his only hope is another 'fool' with enough money and not enough sense to bail him and the others out.

 

Unfortunately it seems most people with real cash have enough common sense to steer well clear, waiting in the wings for the whole pack of cards to collapse. It can't be long now, and the postponement of Saturdays game will heap even more pressure on the board. I believe the Council are happy to allow Vale to miss 'one' payment on the understanding that they will receive the money immediately after the lucrative local derby......wether they will allow Vale to miss two though is another thing?

 

Hi BHF,

 

I recollect meeting with ML and GO and spending some time trying to persuade them as to the merits of Mo's bid, the vision and outline of how we proposed to go about it. I knew within 5 minutes of the meeting I was wasting my breathe.

 

GO could not get past the miner's issue. ML hardly said a word. It was hard work to say the least.

 

Do I think ML and/or GO would view matters differently in light of how things have played out? - NO: Neither GO or ML can get past whatever personal issues they may have towards Mo. This was never about what was best for PVFC. It was about personal agendas, in my opinion.

 

But - what do I know...:(

 

Regards.