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. It is not >intended as an offer or solicitation for the purchase or sale of >any financial instrument or as an official confirmation of any >transaction. All market prices, data and other information are not >warranted as to completeness or accuracy and are subject to change >without notice. Any comments or statements made herein do not >necessarily reflect those of JPMorgan Chase & Co., its subsidiaries >and affiliates. > >This transmission may contain information that is privileged, >confidential, legally privileged, and/or exempt from disclosure >under applicable law. If you are not the intended recipient, you >are hereby notified that any disclosure, copying, distribution, or >use of the information contained herein (including any reliance >thereon) is STRICTLY PROHIBITED. Although this transmission and any >attachments are believed to be free of any virus or other defect >that might affect any computer system into which it is received and >opened, it is the responsibility of the recipient to ensure that it >is virus free and no responsibility is accepted by JPMorgan Chase & >Co., its subsidiaries and affiliates, as applicable, for any loss >or damage arising in any way from its use. If you received this >transmission in error, please immediately contact the sender and >destroy the material in its entirety, whether in electronic or hard >copy format. 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..."
