my understanding is that Bates is the major creditor and as such can influence the admistrator!
>From: [EMAIL PROTECTED] >To: "Mark Humphries" <[EMAIL PROTECTED]>,"'Simon Hart'" ><[EMAIL PROTECTED]>, <[EMAIL PROTECTED]>,<[email protected]> >Subject: Re: [LU] Admin >Date: Fri, 04 May 2007 15:05:52 +0000 > >But it does state 'on approval of the creditors'...what exactly does that >mean? Why would they approve of Bates being the new owner? Or are the >creditors (to the tune of 35 million?) bates and co? > >Nick > >-------------- Original message -------------- >From: "Mark Humphries" <[EMAIL PROTECTED]> > > > Not really. We had less than 24 hours to go into admin. Bates, as the > > major creditor, only had to convince the administrator that, following > > relegation, the debts over the company could wipe it out, as might a >-10pt > > deduction next season. It would be in the best interests of all the > > creditors to do this now and not risk -10pts next season. > > > > Im sure if the administrator had a bit more time to investigate if >anything > > better would turn up then he would have. > > > > This is good news for LUFC (yes, and Bates too) because it now means, >once > > and for all, our debts will be cleared and anyone wanting to take over >the > > club can see their cash being used to improve things, not just service > > existing debts. > > > > Im sure others will disagree with me though, but at least I have given >the > > reasons I think its a good thing! > > > > -----Original Message----- > > From: [EMAIL PROTECTED] > > [mailto:[EMAIL PROTECTED] On Behalf Of Simon Hart > > Sent: 04 May 2007 15:51 > > To: [EMAIL PROTECTED]; [email protected] > > Subject: Re: [LU] Admin > > > > > > Seems to me it has allowed Bates to shake off / screw over certain ex > > directors, lose the debt and come up smelling of roses. > > > > How it can be allowed beggars belief. Surely as a creditor Bates should >be > > told to stand in line with his cap in his hand whilst the club is >auctioned > > off to the highest bidder. It sounds as though they are just selling it > > straight back to bates without even trying to get a better price. > > > > Of course I know **** all about finances so that is undoubtedly all > > bollocks. > > > > Si. > > > > > > >-----Original Message----- > > >From: [EMAIL PROTECTED] > > >[mailto:[EMAIL PROTECTED] On Behalf Of > > >[EMAIL PROTECTED] > > >Sent: 04 May 2007 15:40 > > >To: [email protected] > > >Subject: Re: [LU] Admin > > > > > > > > >Excuse my financial and business ignorance, but exactly what has this > > >achieved, and what does it mean for the club? > > > > > >Gaffer > > > > > > > > >----------------------------------------- > > >This communication is for informational purposes only. 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Thank you. > > > > > >Please refer to http://www.jpmorgan.com/pages/disclosures for > > >disclosures relating to UK legal entities. > > > > > > > > >_______________________________________________ > > >the Leeds List is an unmoderated mailing list and the list > > >administrators accept no liability for the personal views and > > >opinions of contributors. > > >Leedslist mailing list > > >[email protected] > > >http://list.zetnet.co.uk/mailman/listinfo/leedslist > > >The Leeds List - "where never is heard a discouraging word..." > > > > > > > > > _______________________________________________ > > the Leeds List is an unmoderated mailing list and the list >administrators > > accept no liability for the personal views and opinions of contributors. > > Leedslist mailing list > > [email protected] > > http://list.zetnet.co.uk/mailman/listinfo/leedslist > > The Leeds List - "where never is heard a discouraging word..." > > > > > > _______________________________________________ > > the Leeds List is an unmoderated mailing list and the list >administrators accept > > no liability for the personal views and opinions of contributors. > > Leedslist mailing list > > [email protected] > > http://list.zetnet.co.uk/mailman/listinfo/leedslist > > The Leeds List - "where never is heard a discouraging word..." >_______________________________________________ >the Leeds List is an unmoderated mailing list and the list administrators >accept no liability for the personal views and opinions of contributors. >Leedslist mailing list >[email protected] >http://list.zetnet.co.uk/mailman/listinfo/leedslist >The Leeds List - "where never is heard a discouraging word..." _________________________________________________________________ Txt a lot? Get Messenger FREE on your mobile. https://livemessenger.mobile.uk.msn.com/ _______________________________________________ the Leeds List is an unmoderated mailing list and the list administrators accept no liability for the personal views and opinions of contributors. Leedslist mailing list [email protected] http://list.zetnet.co.uk/mailman/listinfo/leedslist The Leeds List - "where never is heard a discouraging word..."
