Everton change bridging loan from Barclays to company in BVI

[Matt Damon]

Lid, I honestly didn't know that. I've just checked and you can by going into Advanced Options.

We could have fun with that like.

Tacking out the trash. One post from the crazies at a time.

 

[Hibbert&Ernie]

AGM's not stopped, Extraordinary AGM's outlawed through abuse. It is impossible to deny shareholders info regarding the business they have shares in. Perhaps 'Conan' can stop telling barbarian sized whoppers.

The AGMs were also stopped, because the club (that nice Mr Elstone in fact) found a loophole in company law to stop them - IIRC it was something to do with shareholder numbers (might be wrong on that specifically).

What happened here? Only remember to not reply when the going got a bit tough.

 

[davek]

Lid, I honestly didn't know that. I've just checked and you can by going into Advanced Options.

We could have fun with that like.

What right minded person would know that?! The Damonator must sift through the whole site memorizing stuff like Rain Man.

 

[Hibbert&Ernie]

What right minded person would know that?! The Damonator must sift through the whole site memorizing stuff like Rain Man.

Could be worse, could be selective memory. Ay Dave.

 

[Muggins]

I've changed it for you DaveK.

 

[Matt Damon]

Excellent.


Its good to see that Dave K's corrected his earlier assertion that this was some sort of mortgage (i.e. implied long term debt) rather than a bridging loan which is a short term loan until alternative financing arrives (Sky money) for the period of June to August where there are no games on and there are still bills coming into EFC.

i.e. the finance bridges the period between last season and this season, in a time where there is massive uncertainty about cashflows due to financial market instability and the recent recession.


Even more so that this simply replaces last years facility for the same period.


Thanks Dave for clearing that up.

 

[davek]

I've changed it for you DaveK.

Thanks mate. I hope that satisfies *someone*.

 

[Goat]

Excellent.


Its good to see that Dave K's corrected his earlier assertion that this was some sort of mortgage (i.e. implied long term debt) rather than a bridging loan which is a short term loan until alternative financing arrives (Sky money) for the period of June to August where there are no games on and there are still bills coming into EFC.

Even more so that this simply replaces last years facility.


Thanks Dave for clearing that up.

At least thats cleared up.

Now can we get to the important point of a major shareholder "lending" the Club money and charging interest.

 

[Matt Damon]

What right minded person would know that?! The Damonator must sift through the whole site memorizing stuff like Rain Man.

Well you know Dave... if you've got it. Flaunt it.

Or in the case of scaremongerers. Just tell them they're wrong.

 

[Del]

Excellent.


Its good to see that Dave K's corrected his earlier assertion that this was some sort of mortgage (i.e. implied long term debt) rather than a bridging loan which is a short term loan until alternative financing arrives (Sky money) for the period of June to August where there are no games on and there are still bills coming into EFC.

i.e. the finance bridges the period between last season and this season, in a time where there is massive uncertainty about cashflows due to financial market instability and the recent recession.


Even more so that this simply replaces last years facility for the same period.


Thanks Dave for clearing that up.

Our own board member is still taking money from the club when we are on are arse

 

[davek]

Excellent.


Its good to see that Dave K's corrected his earlier assertion that this was some sort of mortgage (i.e. implied long term debt) rather than a bridging loan which is a short term loan until alternative financing arrives (Sky money) for the period of June to August where there are no games on and there are still bills coming into EFC.

Even more so that this simply replaces last years facility.


Thanks Dave for clearing that up.

Your welcome. Now let's let's leave the good people to ruminate on some of the possible explanations for the shift to a BVI firm operating out of the same building as Earls BCR Sports.

 

[royal_blue]

I am confused about all of this. I fully admit that I am not by any means an expert in financial matters. My question is this: Conversely, can we not look at it as a positive thing, that Robert Earl is willing to fork out a huge sum of money to help the club maintain it's operation? Is it feasible that Earl has the funds to buy out Kenwright in a hypothetical situation, based on what we know about him?

 

[Mutzo Nutzo]

I think the most annoying thing about all of this. Is that if, it is Robert Earl who is loaning us then money, then he will pay no tax on the interest he makes from the loan, as BVI registered companies are not liable apparently.

So he makes a sweet £1.3 million (tax free) over a 12 month period from us. A club where he is a director/shareholder, a club on its arse financially ....and he is on the take from us...

Stinks of **** -

 

[Muggins]

At least thats cleared up.

Now can we get to the important point of a major shareholder "lending" the Club money and charging interest.

I agree.

Is this 100% confirmed true, and is it 100% legal???

DaveK, is this public information and fact.

Matt, is this legal if so?

 

[Del]

I am confused about all of this. I fully admit that I am not by any means an expert in financial matters. My question is this: Conversely, can we not look at it as a positive thing, that Robert Earl is willing to fork out a huge sum of money to help the club maintain it's operation? Is it feasible that Earl has the funds to buy out Kenwright in a hypothetical situation, based on what we know about him?

If he wanted to help the club that much why not loan it to us for 0% intrest then take the money back in September