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Farhad Moshiri

7+ Years On... Your Verdict On Farhad Moshiri

  • Pleased

    Votes: 107 7.7%

  • Disappointed

    Votes: 1,290 92.3%
  • Total voters
    1,397
hibbo'sclass said:
@The Esk
Starting to have doubts about the debt (s) being repaid, as there is nothing in the public record to suggest that either debt, Rights and Media Funding or Mortgage with Prudential Trustees, has been repaid.

Rights and Media Funding Loan.
Rights and Media still has a charge outstanding to Carroch Holdings which relates to the money for Everton, Everton still has a charge to JG (now Rights and Media outstanding, and the fact that Carroch Holdings still exists is a pretty strong indicator that the debt hasn't been repaid as it is an SPV in the Isle of Man so almost a "throwaway" company, along with Kirkton Investments, its sister company.

Prudential Trustees/AIB

All the relevant charges still exist, and there is also the continued existence of Everton Investments Limited which is superfluous once the loan is cleared.

Could be Everton being Everton with regard to the charges which are in their power to clear at Companies House, but are EFC/RMF and the money behind Carroch Holdings all equally lax?

Only caveat is that IOM Registry is currently about 3 weeks behind dealing with filed documents.

Accounts will be interesting as if the RMF debt was cleared in May as was the inference, it will show up there (or not as the case may be)

Ignore me I'm bored.
;)
Click to expand...

There's no longer a legal requirement to inform Companies House of the clearing of the debt and removal of the charges.

RMH is definitely cleared as they receive the final broadcasting payments of the season forwarding the remaining balance to Everton (having been assigned to RMH).

I take your point on Everton Investments.

One possible explanation is that Moshiri may not have wanted to signal to the outside world the true current financial position of the club. Obviously in time this is declared in the accounts and/or at shareholder meetings.
 

Must admit, I was delighted when he first came in but I get more suspicious by the day.

Bringing in two flavour of the months renown for penny pinching and getting couple of glowing references from those with an agenda isn't enough to convince me.

If you look at the assets we've got, untapped potential as a brand and the influx of TV money you can see there's scope to make him an even richer man.
 
Can't believe some of the tripe being spouted on GOT recently. You can choose to trust Moshiri and what he has planned for the club, or you can choose not to. At the end of the day, it makes no difference to him. It is his club now - you don't like how things are, there's another club over the park you can go and support. :coffee:
 
The Esk said:
There's no longer a legal requirement to inform Companies House of the clearing of the debt and removal of the charges.

RMH is definitely cleared as they receive the final broadcasting payments of the season forwarding the remaining balance to Everton (having been assigned to RMH).

I take your point on Everton Investments.

One possible explanation is that Moshiri may not have wanted to signal to the outside world the true current financial position of the club. Obviously in time this is declared in the accounts and/or at shareholder meetings.
Click to expand...
Don't think clearing a charge has ever been a legal requirement, just registering it to be honest. Remember the meltdown when the news broke on here that charges had been removed last October which morphed into loans being repaid. The point is that if the charges aren't removed, it's just slack administration.
The Carroch Holdings link is probably the most telling. My belief is that RMF loaned money to 2 Clubs, West Ham and Everton, with an IOM SPV set up for each, Carroch Holdings and Kirkton Investments. Loan finishes and is discharged, the IOM company is no longer required and should be dissolved similar to Everton Investments. This hasn't happened so why bother keeping the IOM SPV unless it is going to be used by EFC again as it would appear that the new modus operandi is an SPV per club.
It's all academic really anyway, because if there has been money injected into the club by BHH, unless it is convertible to capital (would this have to be registered at Co's House I wonder), it is merely a loan from BHH rather than another source - still a liability.
Just the musings of a bored soul.

***Edit*** the receivables in the charge are the 2016/17 basic award in the charge document.
 
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