The Everton Board Thread

[ashwuk76]

Nothing to see here just 777 Partners defaulting on a $40m loan.

And the guarantors of the loan given to 777 Partners, two investment companies, SuttonPark Capital and Signal Financial owned and founded by Joshua Wander and Steve Pasko.


Get them in the bin.




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How legit is this? Never ever seen ladies and gentleman used in a legal judgement before....

 

[Big Sams Undies]

Why would anyone invest in a clearly struggling side and not then want to make it work? May as well burn the cash otherwise!

Moshiri clearly fits that description seeing as he’s left Fat Bill, Ms Dynamite and the Panda botherer in charge of his 3/4-of-a-billion-pound investment

 

[BlueStevie35]

So thats solely on him and nothing to do with the numerous scouts/dofs/managers over his tenure ?

Not saying he doesnt take a good portion of the blame as ultimately he's the owner however.... if you think things will get better with a group of cowboys who default on loans and invest no money then you're living in cuckoo land Stevie man !

We don’t know what their intentions are until it happens, we know what will happen though under Moshiri, another relegation battle (if we secure survival this weekend) and another loss on the accounts

 

[GlosBlue]

I’d say “Don't worry people, any prospective owner will have to undergo a rigorous fit and proper evaluation before being signed off” but I think this evaluation consists of said parties bunging the FA a wad of cash.

 

[PhilRegan]

You could argue that moshiri was doing that with richarlison and Gordon being sold for little reinvestment.

Yes I certainly was

 

[Tony’s Carp]

I see the mighty 777 empire has reached a European final.

 

[BNJ1878]

Obviously talking about the FFP deficit, which is basically a debt.

I appreciate your stance on Moshiri and his ridiculous decision making, but the point you're making here is nonsense.

Running around like Chicken Licken, claiming selling players to comply with the ridiculously skewed P & L regulations is NOT 'asset stripping.'

At worst the money goes into bricks and mortar down on the docks. He's not used the Gordon money to buy a new villa in Antibes.

Your arguments against the owner are strong enough with making stuff up.

 

[PeregrineT]

Nothing to see here just 777 Partners defaulting on a $40m loan.

And the guarantors of the loan given to 777 Partners, two investment companies, SuttonPark Capital and Signal Financial owned and founded by Joshua Wander and Steve Pasko.


Get them in the bin.




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Um, this looks like someone through together a couple of parts of random documents on the internet.

First, why are these only partial pages? Second, there are NONE of the needed names in the second document to relate them. Third, and most importantly, time only moves in one direction, so it is impossible to have a Event of Default document referencing a missed payment in January for a loan instated in the following February.

 

[john jako]

Nothing to see here just 777 Partners defaulting on a $40m loan.

And the guarantors of the loan given to 777 Partners, two investment companies, SuttonPark Capital and Signal Financial owned and founded by Joshua Wander and Steve Pasko.


Get them in the bin.




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Who starts a letter with ladies and gentlemen nowadays. That’s how I know it’s bollix.

If it said Ladies, Gentlemen and non binary persons then I’d believe it.

 

[Abertonian]

Again, years ago on here we all said that the most important role was that of commercial Director, at one point it looked like we had done it. But today, does anyone even know who the Commercial Director is ????? ……

Nobody knows, not even the commercial director

 

[Azza]

Um, this looks like someone through together a couple of parts of random documents on the internet.

First, why are these only partial pages? Second, there are NONE of the needed names in the second document to relate them. Third, and most importantly, time only moves in one direction, so it is impossible to have a Event of Default document referencing a missed payment in January for a loan instated in the following February.

Because they're massive court documents so it's just easier to screenshot the relevant information.

But since you asked so nicely;

Case number - 656715/2022
Complaint
Loan agreement
Guarantors agreement (SuttonPark Capital LLC & Signal Financial Holdings LLC - owned and managed by Joshua Wander and Steve Pasko)
Pledge agreement
Demand letter following missed payments
Auction notification of collateral shares in R&Q Insurance Holdings held by pledgor Brickell PC Insurance Holdings (also owned by 777 Partners)
news article regarding 777 Partners failed take over of R&Q because they were using shares in R&Q Insurance Holdings as collateral against the loan.
Auction transcript

Looks like Vida are still trying to recoup costs and interests and 777 Partners are moaning about how the auction was conducted and the value that the shares were purchased should have been higher. The case is still on going.

 

[Simon Buttle]

Nobody knows, not even the commercial director

Richard Kenyon?

 

[BNJ1878]

Richard Kenyon?

I expect they were referencing Ryzanstev.

Wanted to take a more global approach but BK and DBB kept harping on about L4 and The People's Club.

 

[PeregrineT]

Because they're massive court documents so it's just easier to screenshot the relevant information.

But since you asked so nicely;

Case number - 656715/2022
Complaint
Loan agreement
Guarantors agreement (SuttonPark Capital LLC & Signal Financial Holdings LLC - owned and managed by Joshua Wander and Steve Pasko)
Pledge agreement
Demand letter following missed payments
Auction notification of collateral shares in R&Q Insurance Holdings held by pledgor Brickell PC Insurance Holdings (also owned by 777 Partners)
news article regarding 777 Partners failed take over of R&Q because they were using shares in R&Q Insurance Holdings as collateral against the loan.
Auction transcript

Looks like Vida are still trying to recoup costs and interests and 777 Partners are moaning about how the auction was conducted and the value that the shares were purchased should have been higher. The case is still on going.

So the documents outside of the actual loan agreement were just a few pages. It appears here that when 777 Partners went to acquire R&Q, and their shareholders voted against it and they pulled out, it hit their share value hard. So they defaulted on a $40 million loan, that was secured on their shares, which was then repaid by a $41.5 million sale of the collateral 777 Partners put up.

So in short they secured a $40 million loan, with collateral of $41.5 million, that then went to Vida when they defaulted. Listen, Im not saying 777 Partners is good or bad, but thats a far cry from just being unable to afford a $40 million loan and leaving the lender "holding the bag". Having the full documents actually shows the details.

 

[Azza]

So the documents outside of the actual loan agreement were just a few pages. It appears here that when 777 Partners went to acquire R&Q, and their shareholders voted against it and they pulled out, it hit their share value hard. So they defaulted on a $40 million loan, that was secured on their shares, which was then repaid by a $41.5 million sale of the collateral 777 Partners put up.

So in short they secured a $40 million loan, with collateral of $41.5 million, that then went to Vida when they defaulted. Listen, Im not saying 777 Partners is good or bad, but thats a far cry from just being unable to afford a $40 million loan and leaving the lender "holding the bag". Having the full documents actually shows the details.

They still defaulted on what is a rather small loan. It could have been backed by any other asset type.