Comment on Podcast Episode 1 by scottc.
February 10, 2014 at 3:17 pm
Living in Houston, I have very little access to the SMSM (thankfully)
What, you don’t get the papers in Renfrewshire? 🙂
Well, I posted that before reading
February 10, 2014 at 6:42 pm
February 21, 2014 at 9:55 am
“The hassle” is my second point. For the minority creditors to get anything the administrator has to go through the process of CVA being rejected then liquidation to put the asset onto the open market.
… or he could add a term to the CVA that if it is rejected the assets would be ‘sold’ to creditor A for £x. But that would be naughty and surely no decent administrator would do something like that
February 20, 2014 at 5:12 pm
Thinking further ahead and purely hypothetically
Any of the accountancy types on here want to have a stab at how, if RIFC was ever sitting on some cash further down the road, that cash would best be evacuated from RIFC back to the shareholders?
With my Pooh Bear sized brain, it looks to me as though dividend might be difficult given the losses that must be in RIFC (assuming TRFC never repays RIFC back for everything it has advanced so far). Would it have to be an MVL or is there another way?
Short term loans from Directors to be repaid at onerous terms?
Podcast Episode 1
Genuine question here. Let us assume RIFC ‘borrow’ this £1.5m. Can that really be converted into shares? I thought that without the disapplication of exemption rights any new shares issued had to be offered at the same rate to ALL existing shareholders. So, will the lenders have to push for Res 10 being passed at an EGM and just take it on trust for the time being that they will get shares?
DECEMBER 23, 2017 at 15:51
ALLYJAMBODECEMBER 23, 2017 at 13:28============================
If 50% of the people have to take up the offer then how does that defend the position of small shareholders, which is the point of the rule as I understand it.
It’s not 50% of the people. It’s enough shares to take the concert parties holding to 50%+1. If they already have 35.5% or thereabouts, it’s less than 15% of all shares; about 24% of the shares out there that they don’t already hold. He will undoubtedly try to stiff Margarita/Blue whatsisname etc by trying to claim they can’t trade their shares, so that could end up in court again
Enough is enough
I’d like to see statistics regarding the ground covered by the various players last night. I lost count of the number of relatively tight TV shots where 3 or fewer Celtic players were ‘covered’ by 8 or more outfield Bayern players. They were everywhere
OCTOBER 15, 2017 at 09:37
I wonder how DK’s legals satisfied themselves that they would get their fees? Is it the practice for QCs to ask for money up front? Or will King be able to claim on the ‘directors’ liability’ insurance cover?
John, I think PMG has blogged that he asked the RIFC board to cover his legal expenses and they said no. As for Director’s liability, I’m not sure it would cover this
OCTOBER 13, 2017 at 10:28
Alisdair Lamont not at court today
Hopefully someone else will live tweet it. If I had known I might have gone down there myself, being unexpectedly at home
OCTOBER 12, 2017 at 22:28
Other people’s money I should think, EJ. Did someone on here not once say that he had borrowed from one of the 3 bears or some such thing.Anyway great posts tonight. Thanks also to JC for keeping us updated.