eddie Posted April 1, 2015 Share Posted April 1, 2015 On a different note,there seems to have been a flurry of activity at CH over the last year relating to legal charges.Some old ones have been discharged and 3 new ones have appeared,the first of which has already been discharged.Whilst I couldn't afford to download the lot (times are very,very hard following long illness),I did look at the first one,dated April 2014 (and now discharged).It appears to relate to the transfer of land (quoted as "adjacent to Pride Park Stadium") from the council to the club,with a charge being raised in favour of the Co-op bank. I suspect (though I don't know) that the other 2 new charges may be of a similar nature.Something is obviously afoot. Link to comment Share on other sites More sharing options...
ramblur Posted April 1, 2015 Share Posted April 1, 2015 Plaza? Link to comment Share on other sites More sharing options...
ramblur Posted April 1, 2015 Share Posted April 1, 2015 Out of interest Ramblur, do the accounts contain a cash flow statememt, or do the company take the FRS1 exemption so we have to look at the holding company for that? The P&L is largely skewed by accruals/depreciation etc (as already noted), so it doesn't accurately tell you how much cash has been spent/generated. Link to comment Share on other sites More sharing options...
Mostyn6 Posted April 1, 2015 Share Posted April 1, 2015 paying off Clough after sacking him will have involved a legal bill Link to comment Share on other sites More sharing options...
CornwallRam Posted April 1, 2015 Share Posted April 1, 2015 Was my first thought,Eddie.Although I don't know what they're all about,the 2 latest charges are dated November 2014 and January 2015.Companies House also states that there are now only 3 charges outstanding,which I assume to be these 2 + a charge relating to the stadium loan Link to comment Share on other sites More sharing options...
Ram@Lincoln Posted April 1, 2015 Share Posted April 1, 2015 At the last forum I went to a few weeks ago, Sam Rush was asked about the Plaza project. He answered that the plans had been abandoned because they were too modest and they wouldn't do justice to the location. It hadn't clicked before, but but it would seem that the club are now looking at something on a far bigger scale, which ties in wiith aquiring extra land. Link to comment Share on other sites More sharing options...
Ram@Lincoln Posted April 1, 2015 Share Posted April 1, 2015 At the last forum I went to a few weeks ago, Sam Rush was asked about the Plaza project. He answered that the plans had been abandoned because they were too modest and they wouldn't do justice to the location. It hadn't clicked before, but but it would seem that the club are now looking at something on a far bigger scale, which ties in wiith aquiring extra land. Link to comment Share on other sites More sharing options...
YouRams Posted April 2, 2015 Share Posted April 2, 2015 On a different note,there seems to have been a flurry of activity at CH over the last year relating to legal charges.Some old ones have been discharged and 3 new ones have appeared,the first of which has already been discharged.Whilst I couldn't afford to download the lot (times are very,very hard following long illness),I did look at the first one,dated April 2014 (and now discharged).It appears to relate to the transfer of land (quoted as "adjacent to Pride Park Stadium") from the council to the club,with a charge being raised in favour of the Co-op bank. I suspect (though I don't know) that the other 2 new charges may be of a similar nature.Something is obviously afoot. Link to comment Share on other sites More sharing options...
CornwallRam Posted April 2, 2015 Share Posted April 2, 2015 I wonder what the significance of the name change from General Sports Derby Partners (GSE) to North American Derby Partners is?I know that GSE haven't 'managed' the club since Rush took over. I wonder if this is a way of distancing the ownership group from the mangaed franchise model? Link to comment Share on other sites More sharing options...
Diag Ram Posted April 2, 2015 Share Posted April 2, 2015 Yes,DiagRam,the DCFC accounts contain a cash flow statement and I encourage folks to concentrate on this as they would find it easier to understand than the P/L account. Link to comment Share on other sites More sharing options...
Diag Ram Posted April 2, 2015 Share Posted April 2, 2015 Yes,DiagRam,the DCFC accounts contain a cash flow statement and I encourage folks to concentrate on this as they would find it easier to understand than the P/L account. Link to comment Share on other sites More sharing options...
Diag Ram Posted April 2, 2015 Share Posted April 2, 2015 Sorry duplicate post! Link to comment Share on other sites More sharing options...
ramblur Posted April 2, 2015 Share Posted April 2, 2015 Who has funded the eyesore (in my opinion) velodrome "adjacent" to PP? This isn't tied in with the club in anyway? Link to comment Share on other sites More sharing options...
YouRams Posted April 2, 2015 Share Posted April 2, 2015 Sorry,I know nothing about the Velodrome. Link to comment Share on other sites More sharing options...
Animal is a Ram Posted April 2, 2015 Share Posted April 2, 2015 Council sorted the funding for Derby Arena. They applied for £3m from Sport England.. as for the rest - no idea. Link to comment Share on other sites More sharing options...
ramblur Posted April 2, 2015 Share Posted April 2, 2015 Totally agree. Loss does not necessarily mean that the club is haemoragging money. Not seen them yet though! Link to comment Share on other sites More sharing options...
ramblur Posted April 2, 2015 Share Posted April 2, 2015 I meant with the fee for the plot of land adjacent to the ground does it somehow tie in with the club? I know Derby use the car park for match days maybe the club brought the land for the car park? Link to comment Share on other sites More sharing options...
Dimmu Posted April 2, 2015 Share Posted April 2, 2015 Curiosity got the better of me and I've just downloaded the 2 most recent legal charges.In the Nov 14 one,a company called "Global Derby (UK) Ltd (The lender) has taken a fixed charge (no floating charge) against the stadium and parking spaces lying to the west of Royal Way. Of course,I thought 'Who the hell are Global Derby',so I looked at CH.It turns out to be a rename of our former holding company,General Sports Derby (UK) Ltd. I guess the new holding company bought land and registered a charge.It's interesting that 'General Sports' has now disappeared from companies associated with the club.It gets more intriguing though.The second charge,Jan 15, is a fixed and floating charge in favour of Barclays Bank (a debenture).Seeing as we hadn't owed money to Barclays Bank,this must represent a new loan.The stadium loan was due for repayment in 2016 and I always suspected the owners might do something about it this year.I'm beginning to suspect this may be a remortgage. Apart from the facts derived from documents,the above is pure speculation on my part,but something's obviously brewing. Link to comment Share on other sites More sharing options...
ramblur Posted April 2, 2015 Share Posted April 2, 2015 “My name is Sherlock Holmes Ramblur. It is my business to know what other people do not know.”Sir Arthur Conan Doyle. Link to comment Share on other sites More sharing options...
ramblur Posted April 2, 2015 Share Posted April 2, 2015 There's also the possibility that we're going ahead with the Plaza,and perhaps the Barclays loan relates to funding for this (possibly incorporating a remortgage of the stadium as well).The charge relates to present and future assets,though this is quite common.Please remember that this is speculation heaped on speculation on my part -these charge documents don't give amounts,which might have provided clues. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.