Pilgrims' Patter
The Forum => The B-Ark => Topic started by: howmanynames2pick on October 15, 2009, 10:13:21 AM
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Who took the £75K loan out?
Was it an individual or "the club"? If it was an individual - who was it?
Was it unsecured or secured and if it was secured, against what? Future ticket sales ala Leeds?
I find it difficult to believe a bank would lend such an amount to someone/thing with no assets as such and an at best variable income!
May be BUFC started the Credit Crunch!
Surely the bank involved would better off sacking the ninny who agreed the loan and restructuring the existing loan to get their money back?
Also the rent, isnt the landlord required to do up keep and repairs on any property they rent out?
Or is the get out on this that they only rent the land not the buildings?
Over to you Pere Noel and Qwerty
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Maybe the official site could start a monthly Q & A slot where you e mail your questions to the chairman and he gives his reply.
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Using the information that David Newton has put in the public domain we can establish...
Who took the £75K loan out?
The previous regime. Evans/Malkinson or Evans/Stotnick or Evans/Rodwell or Evans.
Was it an individual or "the club"? If it was an individual - who was it?
David said he was aware of the loan and new it needed repaying at some time. So we must assume it was the club LTD that took the loan and it's on the books.
Was it unsecured or secured and if it was secured, against what? Future ticket sales ala Leeds?
I find it difficult to believe a bank would lend such an amount to someone/thing with no assets as such and an at best variable income!
Banks were making loans 125% loan to value to foreign nationals on benifits at the time BUFC Ltd took this loan. I don't find it suprising at all, especially if Evans had sweet talked them.
May be BUFC started the Credit Crunch!
No the banks that loaned all the money that they created through fractional reserve banking to lend to companys like BUFC Ltd started the credit crunch.
Surely the bank involved would better off sacking the ninny who agreed the loan and restructuring the existing loan to get their money back?
The bank probaly promoted the 'ninny' and gave him a big bounes out of the bail out money WE gave them.
Also the rent, isnt the landlord required to do up keep and repairs on any property they rent out?
All leases are different.
Or is the get out on this that they only rent the land not the buildings?
Over to you Pere Noel and Qwerty
That's my take on it. Over to pere noel for his....
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Pere has been MIA for months now....