Admin may now be Monday £600k loan

[osprey]

My best perspective on this is that a new owner comes in and his / her investment clears the non Council creditors. They are then able to put together a business plan that is profitable and can include the continued normal repayment of the Council loan.

 

The Council does not want a football ground and a situation where it leases it. I guess the Council could take the ground, if Port Vale is liquidated, then change planning use and demolish so that it can be used for retail, business or residential development. Not sure of even the economics of that being worthwhile though.

 

I hope for a lot!

 

They could put a market on it - that used to bring in some money

[Jacko51]

But it's outside the transfer window.

 

You can actually buy players from clubs in administration outside of the transfer window. Newcastle bought Darren Ambrose from Ipswich in March 2003 because Ipswich went into admin. Not sure anyone would give us an money for any of our players at the moment though.

[paulvaliant]

When they say 'some assets will be sold'.... could someone explain what those assets might be

 

Hope it isn't the railway stand bogs. :D ===

[Fosse69]

What can happen is that other creditors join with the HMRC in the Statutory Demand and the Winding Up Order. It is therefore good the Council as the biggest creditor won't do that, but others might. I would imagine the Gibraltar based lender would not hesitate if it's loan due for repayment isn't repaid. What I am curious about is how due diligence by them didn't lead to them refusing the loan and if they carried on why?

I expect there to be some interesting legal developments on that loan. Did Miller have the authority?

[WEMBLEY OF THE NORTH]

Does that mean we have to pay off the Gib loan to finish the season?

 

I would tell the Gib people to **** off and refer them to Miller for repayment.

[stan the man]

My heart goes out to the manager all his players,but give a thought to the ground staff,laundry lady, office staff, etc, I just hope everything works out for you all,keep your chin up and battle on,we will win in the end good luck to you all,Stan the man

[i vale]

Can't we sell MOLD +Bratts assets off to raise a few bob ===

[grebovale]

Like everyone in Stoke-on-Trent av been reading/listening for info on us going into admin,we know the COUNCIL are putting us there but there is one thing that I don't quite get and its the cost.Why do PVFC need a loan when the council are the ones putting us there ? I could understand if we were the ones applying for voluntary admin then we would have to fund it but I would have thought if others were applying they would have to fund it themselves then they get their money back through the process of the admin.

[Andyregs]

A recent tweet suggests the council are sounding out potential investors in the club. That worries me as much as admin!

[melv]

Can't we sell MOLD +Bratts assets off to raise a few bob ===

 

Oliver - assets.A campervan,a suit come sleeping bag,a gas bottle and a portaloo.

[Seth Bottomley]

You can actually buy players from clubs in administration outside of the transfer window. Newcastle bought Darren Ambrose from Ipswich in March 2003 because Ipswich went into admin. Not sure anyone would give us an money for any of our players at the moment though.

 

No point paying money when most of them are out of contract at the end of the end of the season so they can be signed for free

[Conrad]

I was under the impression that, because mold rejected a very good offer from Mo knowing full well the state of the club, that makes them negligent, and therefore personaly liable.

[melv]

I was under the impression that, because mold rejected a very good offer from Mo knowing full well the state of the club, that makes them negligent, and therefore personaly liable.

 

That's what I thought as well.

[Bald Eagle]

But it's outside the transfer window.

 

Players can be loaned out, which may trigger a loan fee. Liam Lawrence

has just gone on loan to Cardiff from Pompey. That said figures generated would be modest, but would also reduce our wage bill.

[Bald Eagle]

What can happen is that other creditors join with the HMRC in the Statutory Demand and the Winding Up Order. It is therefore good the Council as the biggest creditor won't do that, but others might. I would imagine the Gibraltar based lender would not hesitate if it's loan due for repayment isn't repaid. What I am curious about is how due diligence by them didn't lead to them refusing the loan and if they carried on why?

 

Loan shark / pawn proker type lending - purely looking at perceived value in the security rather than whether we could afford to repay from usual course of business. Wobder if they were made privvy to up to date trading information which has been denied to shareholders since the June 2010 year end figures?