Bubbles Posted May 12, 2021 Share Posted May 12, 2021 This doesn’t look good. Link to comment Share on other sites More sharing options...
MackworthRamIsGod Posted May 12, 2021 Share Posted May 12, 2021 11 minutes ago, Bubbles said: This doesn’t look good. Are we to assume payments have not been met and the club has automatically transferred to Gabay? As much as I cant see that being the case, it would top off a cracking week. David Graham Brown and jimtastic56 1 1 Link to comment Share on other sites More sharing options...
ThePrisoner Posted May 12, 2021 Share Posted May 12, 2021 (edited) Both charges are 2019? Am I missing something? Edited May 13, 2021 by ThePrisoner Andicis 1 Link to comment Share on other sites More sharing options...
Ramarena Posted May 13, 2021 Share Posted May 13, 2021 Link to comment Share on other sites More sharing options...
Eddie Posted May 13, 2021 Share Posted May 13, 2021 Getting a bit of mileage out of this one this week... gccrowdpleaser 1 Link to comment Share on other sites More sharing options...
Ghost of Clough Posted May 13, 2021 Share Posted May 13, 2021 I must be missing something. How does that show he owns any part of the club? Link to comment Share on other sites More sharing options...
Shaftesbury Street Posted May 13, 2021 Share Posted May 13, 2021 Wasn't this paid back in full last year? RadioactiveWaste and Elwood P Dowd 2 Link to comment Share on other sites More sharing options...
RadioactiveWaste Posted May 13, 2021 Share Posted May 13, 2021 33 minutes ago, Shaftesbury Street said: Wasn't this paid back in full last year? Probably in the accounts we haven't filed yet. Rammy03, Andicis, Shaftesbury Street and 1 other 4 Link to comment Share on other sites More sharing options...
G STAR RAM Posted May 13, 2021 Share Posted May 13, 2021 39 minutes ago, Shaftesbury Street said: Wasn't this paid back in full last year? I think that is what the club led us to believe. If it was, its taking an awfully long time to register at Companies House. Link to comment Share on other sites More sharing options...
Mihangel Posted May 13, 2021 Share Posted May 13, 2021 8 hours ago, MackworthRamIsGod said: Are we to assume payments have not been met and the club has automatically transferred to Gabay? As much as I cant see that being the case, it would top off a cracking week. The only thing that you can 'assume' is that Gabay had a charge on the company GELLAW NEWCO 202 LIMITED meaning you can also assume he lent the club a sum of money at that time. That may, or may not, have been paid off as it is quite common for the charge being satisfied not being registered on companies house. I've said before, the great unwashed and Kieran Maguire should stay away from companies house until they've proven they understand the data. MackworthRamIsGod, TheSlate, May Contain Nuts and 2 others 2 3 Link to comment Share on other sites More sharing options...
G STAR RAM Posted May 13, 2021 Share Posted May 13, 2021 3 minutes ago, ShoreRam said: The only thing that you can 'assume' is that Gabay had a charge on the company GELLAW NEWCO 202 LIMITED meaning you can also assume he lent the club a sum of money at that time. That may, or may not, have been paid off as it is quite common for the charge being satisfied not being registered on companies house. I've said before, the great unwashed and Kieran Maguire should stay away from companies house until they've proven they understand the data. You'd think that with (a) MM trying to sell the club and; (b) the matter being brought to the clubs attention, that they would have dealt with the issue at Companies House by now. Link to comment Share on other sites More sharing options...
Ellafella Posted May 13, 2021 Share Posted May 13, 2021 6 minutes ago, ShoreRam said: The only thing that you can 'assume' is that Gabay had a charge on the company GELLAW NEWCO 202 LIMITED meaning you can also assume he lent the club a sum of money at that time. That may, or may not, have been paid off as it is quite common for the charge being satisfied not being registered on companies house. I've said before, the great unwashed and Kieran Maguire should stay away from companies house until they've proven they understand the data. Boycie and CornwallRam 2 Link to comment Share on other sites More sharing options...
Mihangel Posted May 13, 2021 Share Posted May 13, 2021 2 minutes ago, G STAR RAM said: You'd think that with (a) MM trying to sell the club and; (b) the matter being brought to the clubs attention, that they would have dealt with the issue at Companies House by now. You'd would imagine that they should have tried but is it a priority? Do you need a signature from the lender, I've no idea. Just trying to help people understand what these things mean. Link to comment Share on other sites More sharing options...
Mihangel Posted May 13, 2021 Share Posted May 13, 2021 13 minutes ago, ShoreRam said: The only thing that you can 'assume' is that Gabay had a charge on the company GELLAW NEWCO 202 LIMITED meaning you can also assume he lent the club a sum of money at that time. That may, or may not, have been paid off as it is quite common for the charge being satisfied not being registered on companies house. I've said before, the great unwashed and Kieran Maguire should stay away from companies house until they've proven they understand the data. To clarify - That assumption should be that he lent GELLAW NEWCO 202 LIMITED money, not the club... Link to comment Share on other sites More sharing options...
Taribo Posted May 13, 2021 Share Posted May 13, 2021 I’ve forgotten if we hate Gabay. He’s the only one with actual money - wouldn’t him taking over actually be the best of a bad situation? Link to comment Share on other sites More sharing options...
G STAR RAM Posted May 13, 2021 Share Posted May 13, 2021 9 minutes ago, ShoreRam said: You'd would imagine that they should have tried but is it a priority? Do you need a signature from the lender, I've no idea. Just trying to help people understand what these things mean. Its the borrower that registers the satisfaction of a charge. Id say it is pretty important if you're trying to sell a company that it doesnt have any charges registered against it that have already been satisfied. i-Ram 1 Link to comment Share on other sites More sharing options...
Half Fan Half Biscuit Posted May 13, 2021 Share Posted May 13, 2021 I don’t have any handle on the inter-company / structure, but the latest G N 202 accounts don’t mention any charges or that any of the creditors are secured and all the creditors are shown as current liabilities so would that suggest the loan money ended up elsewhere? Link to comment Share on other sites More sharing options...
Mihangel Posted May 13, 2021 Share Posted May 13, 2021 3 minutes ago, G STAR RAM said: Its the borrower that registers the satisfaction of a charge. Id say it is pretty important if you're trying to sell a company that it doesnt have any charges registered against it that have already been satisfied. Correct - And yes, probably. Link to comment Share on other sites More sharing options...
i-Ram Posted May 13, 2021 Share Posted May 13, 2021 (edited) 22 minutes ago, ShoreRam said: You'd would imagine that they should have tried but is it a priority? Do you need a signature from the lender, I've no idea. Just trying to help people understand what these things mean. You are right in most of everything you said in your emails above, but come on, yes, it would be an absolute priority to ensure any registered charge is removed upon being satisfied. From a practical lending perspective, where a further advance might be required, it would be important in terms of security prioritisation. MSD would certainly have wanted to see the charge satisfied, unless they have accepted a second legal charge for their advance. Equally any potential investor, be it the Sheikh, the Spaniard, or Uncle Tom Cobley would want to see a satisfied charge removed if the underlying debt had been repaid. As I have never said, the great unwashed and Kieran Maguire should stay away from companies house until they've proven they understand the data. Edited May 13, 2021 by i-Ram Link to comment Share on other sites More sharing options...
i-Ram Posted May 13, 2021 Share Posted May 13, 2021 (edited) 8 hours ago, ThePrisoner said: Both charges are 2019? Am I missing something? Yes my friend. This is not dissimilar to a house transaction. Let’s say you took a mortgage on your house, supplied by Nationwide. Nationwide would register the charge with the District Land Registry so that any interested parties would be aware, particularly a potential buyer. Now if you repaid the mortgage in 2020 because you won the pools (I am guessing your age) and repaid the mortgage the charge would become satisfied, and Nationwide would file a request to derigister. Your solicitor would want to ensure that was done too so that you are shown to be owning your property unencumbered. Edited May 13, 2021 by i-Ram JuanFloEvraTheCocu'sNesta 1 Link to comment Share on other sites More sharing options...
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