Echo saying if TG/VT take over they must pay Sam immediately

Anyone else see that -

Carl ?

maybe this is part of the clause that you were on about that Sam has to be paid ?

TP just stuck it in the middle of his article - Once Malaysians turn their debt to equity they have to pay Sam off (£10m).

Somehting you haven't been telling us ??

+IF TG and VT take over completely they are then liable for ALL our debts

Sam has to have £10m by Dec 31st anyway doesn't he? This is why they've been trying to negotiate?

Anyone else see that -

Carl ?

maybe this is part of the clause that you were on about that Sam has to be paid ?

TP just stuck it in the middle of his article - Once Malaysians turn their debt to equity they have to pay Sam off (£10m).

Somehting you haven't been telling us ??

Tim, the deal from Langstone's view is this, they have agreed to accept £10 million paid in full by Dec 31st 2010, if this does not happen then it will mean litigation, meaning that Langstone believe the debt reverts to £24million and the club may believe it is £15 million, either way the date of the 31st Dec offers the club the opportunity to save itself millions of pounds.

I understand that if TG and VT, or anybody for that matter, takes control of over 50% of the club then all the creditors are payable immediately.

["carlccfc"][qLawnmower"]Anyone else see that -

Carl ?

maybe this is part of the clause that you were on about that Sam has to be paid ?

TP just stuck it in the middle of his article - Once Malaysians turn their debt to equity they have to pay Sam off (£10m).

Somehting you haven't been telling us ??[/

Tim, the deal from Langstone's view is this, they have agreed to accept £10 million paid in full by Dec 31st 2010, if this does not happen then it will mean litigation, meaning that Langstone believe the debt reverts to £24million and the club may believe it is £15 million, either way the date of the 31st Dec offers the club the opportunity to save itself millions of pounds.

I understand that if TG and VT, or anybody for that matter, takes control of over 50% of the club then all the creditors are payable immediately.[/quote]




carl

can you realistically see the malaysians not paying sam in december.
they have come this far and continue to pump the money in so the december money is just another although larger debt that they will deal with.

["carlccfc"][qLawnmower"]Anyone else see that -

Carl ?

maybe this is part of the clause that you were on about that Sam has to be paid ?

TP just stuck it in the middle of his article - Once Malaysians turn their debt to equity they have to pay Sam off (£10m).

Somehting you haven't been telling us ??[/

Tim, the deal from Langstone's view is this, they have agreed to accept £10 million paid in full by Dec 31st 2010, if this does not happen then it will mean litigation, meaning that Langstone believe the debt reverts to £24million and the club may believe it is £15 million, either way the date of the 31st Dec offers the club the opportunity to save itself millions of pounds.

I understand that if TG and VT, or anybody for that matter, takes control of over 50% of the club then all the creditors are payable immediately.

carl

can you realistically see the malaysians not paying sam in december.
they have come this far and continue to pump the money in so the december money is just another although larger debt that they will deal with.[/quote]

I am not suggesting that they won't pay Langstone in December Steve, I was just responding to Tim's question.

["carlccfc"][qLawnmower"]Anyone else see that -

Carl ?

maybe this is part of the clause that you were on about that Sam has to be paid ?

TP just stuck it in the middle of his article - Once Malaysians turn their debt to equity they have to pay Sam off (£10m).

Somehting you haven't been telling us ??[/

Tim, the deal from Langstone's view is this, they have agreed to accept £10 million paid in full by Dec 31st 2010, if this does not happen then it will mean litigation, meaning that Langstone believe the debt reverts to £24million and the club may believe it is £15 million, either way the date of the 31st Dec offers the club the opportunity to save itself millions of pounds.

I understand that if TG and VT, or anybody for that matter, takes control of over 50% of the club then all the creditors are payable immediately.

carl

can you realistically see the malaysians not paying sam in december.
they have come this far and continue to pump the money in so the december money is just another although larger debt that they will deal with.[/quote]


if they don't the club will most likely go into admin.

but what has amazed me is how TP dropped it calmly in the middle of one of his articles

carl

can you realistically see the malaysians not paying sam in december.
they have come this far and continue to pump the money in so the december money is just another although larger debt that they will deal with.[/quote]

The Malaysians have a business plan. They are not shouting from the roof tops but it is obvious they want Premiership football and want to own Cardiff City outright.

Us Cardiff City fans should just saviour the moment and enjoy the next few seasons. Continually selling out the stadium and buying Cardiff City merchandise will also confirm to the Malaysians they have made the right choice.

Wouldn't surprise me if tg and tan agreed a new agreement.

["[steve davies"]["carlccfc"][qLawnmower"]Anyone else see that -

Carl ?

maybe this is part of the clause that you were on about that Sam has to be paid ?

TP just stuck it in the middle of his article - Once Malaysians turn their debt to equity they have to pay Sam off (£10m).

Somehting you haven't been telling us ??[/

Tim, the deal from Langstone's view is this, they have agreed to accept £10 million paid in full by Dec 31st 2010, if this does not happen then it will mean litigation, meaning that Langstone believe the debt reverts to £24million and the club may believe it is £15 million, either way the date of the 31st Dec offers the club the opportunity to save itself millions of pounds.

I understand that if TG and VT, or anybody for that matter, takes control of over 50% of the club then all the creditors are payable immediately.




carl

can you realistically see the malaysians not paying sam in december.
they have come this far and continue to pump the money in so the december money is just another although larger debt that they will deal with.[/quote]

I am not suggesting that they won't pay Langstone in December Steve, I was just responding to Tim's question.[/quote]
carl i wasent suggesting you were suggesting that they wouldent pay just wondered if you thought that they wouldent pay sam in december

Let's be honest VT/TG want to own the club so it is not surprising that they will eventually be responsible for paying all the debts as part of that process.

carl i wasent suggesting you were suggesting that they wouldent pay just wondered if you thought that they wouldent pay sam in december

I think that is more than likely they will pay Langstone Steve but there is something still in me that thinks that they may decide to deal with Sam and reduce the debt in other ways.

Why would all debts be payable immediately if someone takes control of over 50% of the club?

That doesn't make any sense

Why would all debts be payable immediately if someone takes control of over 50% of the club?

That doesn't make any sense

Agreed.

There is no legal obligation to immediately repay debts upon acquiring a majority shareholding.

Why would all debts be payable immediately if someone takes control of over 50% of the club?

That doesn't make any sense

Agreed.

There is no legal obligation to immediately repay debts upon acquiring a majority shareholding.

Could it be that the minute the Malaysians take over as majority shareholders that all creditors who
have not yet been paid will turn round and do a Motherwell?? "Hang on, these feckers are billionaires
now where's my money?" kind of thing?

I was under the impression that TG and VT will not buy the shares needed to take overall control of
the club until they have secured written agreement over the major debts to Langstone and PMG.

I imagine the fly in the ointment here is PMG and not Sam Hammam

carl i wasent suggesting you were suggesting that they wouldent pay just wondered if you thought that they wouldent pay sam in december

I think that is more than likely they will pay Langstone Steve but there is something still in me that thinks that they may decide to deal with Sam and reduce the debt in other ways.

I really hope not Carl.

Sam returning to the club would be a disaster -it needs to leave the mistakes of the past where they belong , in the past.

Paying off £10m by Christmas makes a huge amount of business sense as it will eliminate a debt which was in the books at £26m as at 31 May 2009.

Keith

Why would all debts be payable immediately if someone takes control of over 50% of the club?

That doesn't make any sense

Agreed.

There is no legal obligation to immediately repay debts upon acquiring a majority shareholding.

I would tend to agree also, unless there is a written clause in the agreement some where that states that the Malaysians have to settle with Langston immeadatley once they take a 50% shareholding.

That said it would be an odd clause to have inserted considering the likelihood Langston will be paid off by the 31 December.