Will the deal really rid us of JF

Just read my copy of the shareholders circular which arrived in the post yesterday.
Precisely expressed a newly incorporated shell company with £2 share capiital 1878 Partners Ltd will contract to by JF shares for £975000 and will
Guarantee that JF,s £1.5m loans will be repaid over three years.
Crucial point is that is 1878 and not JS and AP who guarantee to repay JF loans .
So JS and AP are committed to put up initial £975k share purchase funds which they will no doubt do by injecting that into 1878 by way of a loan but there is no stated commitment that they will put funds into 1878 to repay JF loans.
It would would appear to me that if things don’t go well that based on the information in the circular JS and AP have no obligation to put 1878 in funds to repay JF loans and could walk away if they don’t fancy putting up further funds. JF could sue 1878 for repayment of loans but if its only asset is the 41% shareholding then all he would get is the 41% shareholding back
So at that point JF loan is unpaid he is the major creditor or whatever phrase he calls it and is back in effective control.
It would have provided me with a lot more confidence if JS and AP had guaranteed to repay JF loans (if 1878 where unable) and then their commitment would have been clear.
Let’s hope the Dembele transfer proceeds make this academic .

Yes.

Quoted from HerveJosse

Just read my copy of the shareholders circular which arrived in the post yesterday.
Precisely expressed a newly incorporated shell company with £2 share capiital 1878 Partners Ltd will contract to by JF shares for £975000 and will
Guarantee that JF,s £1.5m loans will be repaid over three years.
Crucial point is that is 1878 and not JS and AP who guarantee to repay JF loans .
So JS and AP are committed to put up initial £975k share purchase funds which they will no doubt do by injecting that into 1878 by way of a loan but there is no stated commitment that they will put funds into 1878 to repay JF loans.
It would would appear to me that if things don’t go well that based on the information in the circular JS and AP have no obligation to put 1878 in funds to repay JF loans and could walk away if they don’t fancy putting up further funds. JF could sue 1878 for repayment of loans but if its only asset is the 41% shareholding then all he would get is the 41% shareholding back
So at that point JF loan is unpaid he is the major creditor or whatever phrase he calls it and is back in effective control.
It would have provided me with a lot more confidence if JS and AP had guaranteed to repay JF loans (if 1878 where unable) and then their commitment would have been clear.
Let’s hope the Dembele transfer proceeds make this academic .

1. There will not be any Dembele money

2. Would you sooner the club had interest payable loans from a financial institute, rather than zero interest loans.

JF will still have his sticky fingers in the club.
I still cannot believe he’s getting all his 2.5 million back for a conference team you have to question JS and AP judgement.

Quoted from Yoda

JF will still have his sticky fingers in the club.
I still cannot believe he’s getting all his 2.5 million back for a conference team you have to question JS and AP judgement.

Here we go. Questioning the new Messiahs already

Fillipe .
In answer to your question yes I would if the provider of the zero interest loans is JF.

Quoted from Fillipe Noche

Here we go. Questioning the new Messiahs already

Oh come on Fillipe, anyone who has been on here more than five minutes knows Yoda just stirs things up for the sake of it...

So the club has to pay Fenty back half a million a season before we start.
Our budget is crap as it is.
With less fans in the stadium how can we do that our last full season we generated less than 1 million in hate receipts.

Quoted from Fillipe Noche

Here we go. Questioning the new Messiahs already

Don't get too excited. The new men have about 15 years worth of credit in the bank, one scratched car to moan about, innumerable incomprehensive statements to make, one childs flag to snap, several ludicrous appearances on fans forums impersonating John Shuttleworth to attend and some dodgy business dealings to broker, and the word"BENIGN" to shout endlessly before we start moaning.

Quoted from lew chaterleys lover

Don't get too excited. The new men have about 15 years worth of credit in the bank, one scratched car to moan about, innumerable incomprehensive statements to make, one childs flag to snap, several ludicrous appearances on fans forums impersonating John Shuttleworth to attend and some dodgy business dealings to broker, and the word"BENIGN" to shout endlessly before we start moaning.

I had to chuckle when Stockwood used the word custodian the other day!