777 Partners / Whatever the hell you like

[matty1878]

Not according to @AndyC no audited accounts have been submitted.

777 lending us money every month tells us they own us!

we’re is it coming from!

 

[matty1878]

That the PL will eventually relent and they won’t be required to provide the information they don’t have.

so then we have to hope they keep having it? they obvs have it now to be supplying us?

 

[Toffeeslam]

That the PL will eventually relent and they won’t be required to provide the information they don’t have.

Or the PL could reject the takeover and we could all move on, it shouldn’t take this long to approve or come to the conclusion not to.

 

[bluenotred]

News this morning that Flair airlines, partially owned by 777 partners owes the Canadian government $67 million in taxes. If they don't pay, the government will seize their assets. Hmmmm.

 

[Moderatelywarmwater]

777 lending us money every month tells us they own us!

we’re is it coming from!

If we default on the repayments then could they take the club as collateral by default?

Maybe that’s the plan??

 

[pfim]

If we default on the repayments then could they take the club as collateral by default?

Maybe that’s the plan??

No. They don't have collateral.

 

[MIKE85]

Are the loans secured against anything? I can't imagine 777 lending us £130m unsecured.

 

[pfim]

Are the loans secured against anything? I can't imagine 777 lending us £130m unsecured.

It is unsecured according to media reports, which jibes with the fact that we don’t have free assets to lend against

 

[efcfanwirral]

Could Moshiri have promised them part or all of the stadium behind the scenes?

 

[AndyRJ]

It is unsecured according to media reports, which jibes with the fact that we don’t have free assets to lend against

Apparently they have piggy backed on the existing R&MF agreement. I presume that means, in simple terms, that 777 have lent us the money via R&MF and therefore they have the same security. Although 777s security would be junior to R&MF so whilst it's secured, the R&MF debt would be settled first in the event of Administration.

 

[jazzy]

It is unsecured according to media reports, which jibes with the fact that we don’t have free assets to lend against

They could take a 2nd or 3rd charge on the stadium or a floating charge against the club.

Inconceivable that their loan/s are not secured in some way.

 

[MIKE85]

It is unsecured according to media reports, which jibes with the fact that we don’t have free assets to lend against

Apparently they have piggy backed on the existing R&MF agreement. I presume that means, in simple terms, that 777 have lent us the money via R&MF and therefore they have the same security. Although 777s security would be junior to R&MF so whilst it's secured, the R&MF debt would be settled first in the event of Administration.

The RMF loans are secured against future PL payments, right?

 

[DanB90]

News this morning that Flair airlines, partially owned by 777 partners owes the Canadian government $67 million in taxes. If they don't pay, the government will seize their assets. Hmmmm.

“Hey Buddy! Pay your taxes or we’ll seize your assets Guy!”

 

[matty1878]

If we default on the repayments then could they take the club as collateral by default?

Maybe that’s the plan??

that’s chinese to me?

 

[Dixieslaces]

Apparently they have piggy backed on the existing R&MF agreement. I presume that means, in simple terms, that 777 have lent us the money via R&MF and therefore they have the same security. Although 777s security would be junior to R&MF so whilst it's secured, the R&MF debt would be settled first in the event of Administration.

Agree with this, in principle they hold a 2nd Charge or even 3rd or 4th so they would be down the pecking order in those terms, however they seem to be taking the bigger risk as surely if Administration does occur there would not be much to distribute or is this the hope on purchase price?

its all so murky!