777 Partners / Whatever the hell you like

[CielosGrises]

Probably because R&M will end up being a long-term creditor for 777, whereas MSP would've immediately settled up and kicked them to touch.

Pretty strange set of affairs - R&M deciding on what the club / owner can and can't do - what sort of contract did Bill sign with them ?

 

[Toffe3m4n]

We're now approaching mid-May.....

Something has to be decided soon surely??

 

[Walken]

How are we today chaps?

*scroll back a page*

Yep.. another scandal

 

[DanB90]

what’s going on!

Suspected shysters looking like being bigger shysters than we all anticipated.

 

[jinkyali]

So 777 are keeping the club running with their monthly payments, 777 are borrowing money to pay this, many business's it appears are now reclaiming their money from 777. Am i right in thinking that the people who 777 have borrowed off can't actually chase us for money, what 777 can claim back outside of owning the club will be tied up in the contracts between Mosh and 777. We may ( and this would be very unusual for Everton) get away with this with minimal impact have had all of our monthly payments made for the last 8 months.

It also basically appears to be administration without being in administration.

 

[Dublin blue 75]

I believe one of the charges against them relates to the fact that they borrowed money, using assets that they either no longer owned as collateral, or had already used as collateral on other loans.

Getting 3 mortgages on your house, plus a few mortgages on houses you’d already sold.

This is the main thrust of the Leadenhall call yes. Using the same asset as security >1 loan. A big no in the US. If shown to be true, significant time in the big house coming for certain folks.

 

[neil999]

It's so funny that they kept going to the matches

 

[MACCA75]

The Premier League were so invested in the sustainability of the club that they gave us 2 points deductions for relatively minor financial breaches, but aren’t willing or able to pull the plug on the biggest frauds in football messing us about for 8 months?

 

[JP5]

The Premier League were so invested in the sustainability of the club that they gave us 2 points deductions for relatively minor financial breaches, but aren’t willing or able to pull the plug on the biggest frauds in football messing us about for 8 months?

Technically they can’t reject. They can only not approve.

 

[Clarky cat]

what’s going on!

Marvin Gaye’s best album for me that Matty, although the exclamation mark is misplaced you have won today.

 

[CielosGrises]

what’s going on!

It's a pleasant day outside.

Don't ruin it by asking.

 

[pfim]

So 777 are keeping the club running with their monthly payments, 777 are borrowing money to pay this, many business's it appears are now reclaiming their money from 777. Am i right in thinking that the people who 777 have borrowed off can't actually chase us for money, what 777 can claim back outside of owning the club will be tied up in the contracts between Mosh and 777. We may ( and this would be very unusual for Everton) get away with this with minimal impact have had all of our monthly payments made for the last 8 months.

1. No, unless they take control of the entity that loaned the club the money (which is possible/likely). At any rate, we're not getting 200 million for free.

2. Moshiri is the club in this instance, the agreement is between the club and 777.

 

[pfim]

They can't do that. They've loaned money on certain payment terms. If those payment terms are met they can't act against Moshiri. It's like the bank repossessing your house when you've paid your mortgage every month, it wouldn't be allowed.

That's a big assumption.

There will be covenants to meet in those agreements, it's not strictly about repaying the debt or interest.

 

[Victus]

Anybody else want to start a go fund me and just buy it ourselves at this point? lol

 

[Blue Smoke]

Surely the premier league can change their stance in light of what new things are happening with 777?
They could now say that they wont approve 777 until certain lawsuits/accusations against them have been resolved?
Surely their conclusion that 777 just have to pay off MSP loan and fund remainder of the stadium isnt enough now to say they are fit and proper to run the club?