I honestly can't even be arsed reading this. Thanks though. Sent from my iPhone
On 11 Oct 2011, at 23:26, "Paul Cundell" <[email protected]> wrote: > Ian Murray wrote: >> >> What about Krato and Astor insisting that they sold Bates even when his > deal >> wasn't the best on the table? Sounds more like fraud (transaction at an > under >> value?) than a 'good deal' to me. >> > > I think you misunderstand me, and are confusing quite separate events in our > mini-saga : - > > 1) Purchasing two properties for £13m and getting paid £2m a year from > the sitting tenants is a 'good deal'. > A 15% ROI in these economic times is a bloody good deal indeed. > Adulant Force signed the sale and lease back deal with Jacob Adler - > one assumes they thought they got the best deal they could at the time. > Recent reports suggest that The MS has merely bought the property > from Jacob Adler. > > 2) The sale of the club to Forward Sports Fund, represented by The MS, > was made by KPMG on behalf of the creditors. > It was KPMG's duty to get the best deal for the creditors. > The future success and /or long term prospects of the club, or even > the interests of the fans, was not part of KPMG's duty. > The offer by FSF became the best for the creditors when Astor and > Krato agreed to write off their debt as long as FSF bought the club. > There is nothing fraudulent in them doing that, odd it maybe but > it's their money. > > 3) The last time someone had a choice about who the club was sold to > was when Adulant Force decided to sell to Forward Sports Fund and not to > Stubbs, Sainsbury or Levin consortia. > Their decision was no doubt swayed by the way directors loans to the > club were to be handled and was not made solely in the best interests of the > club. > However I think that they were convinced that the sale of the club > was essential to it's survival. > > 4) The MS bought LUFC from FSF for probably £1. He apparently now owns > LUFC, ER and TA. That he collects rent from LUFC for using ER and TA is > honestly up to him. > Whether he chooses to spend money on players or ER or the hotel or a > new mangle is again up to him. > How we spend our money is, however, up to us! > > 5) I would think that someone in your profession would know to be > extremely careful when accusing people like KPMG of fraudulent acts. > > Paul > > _______________________________________________ Leedslist mailing list Info and options: http://mailman.greennet.org.uk/mailman/listinfo/leedslist To unsubscribe, email [email protected] MARCHING ON TOGETHER (There's it)
