Serepisos committed to repaying debt, court told
Don't we already have a top-class right back lined up?
�
No.� But he's fast.
So Party All The Time has decided to stay then?
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$100 million dollar loan. Wonder what the interest on it is.
ive got a song that wont take long, Adelaide are rubbish.. the second verse is same as the first.. ADELAIDE ARE RUBBISH
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WGA purportedly offered it's non-existant loans at 4%.
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It strikes me as interesting that the IRD are "not confident the loan will come through", as opposed to "laughing their asses off at Terry for falling for a Nigerian scam from India".
Ramming liberal dribble down your throat since 2009
This forum needs less angst and more Kate Bush threads
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100 million could pay for Messi.
ive got a song that wont take long, Adelaide are rubbish.. the second verse is same as the first.. ADELAIDE ARE RUBBISH
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It strikes me as interesting that the IRD are "not confident the loan will come through", as opposed to "laughing their asses off at Terry for falling for a Nigerian scam from India".
The former is pretty much 'court-speak' for the latter.
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Anyway, here's the Racing Santander forum. The only thing about Ali Syed seems to be something about a fleet of Mercedes turning up to meet him when he arrived at the club?!?
Ramming liberal dribble down your throat since 2009
This forum needs less angst and more Kate Bush threads
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They were taken back the next day when it turned out he had only paid the deposit.
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100 million could pay for Messi.
Breaking news - Phoenix make offer to player of 'substantial quality' to replace Rojas...Revel2011-03-07 12:49:05
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El Diario Montanes is the local paper, so it's not a fan forum per se.
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http://www.eldiariomontanes.es/v/20110228/cantabria/syed-aportara-tres-millones-20110228.html
Check out the comments.
Google translate comes up with 'This urine smells bad'
zonknz2011-03-07 12:52:29
Check out the comments.
Google translate comes up with 'This urine smells bad'
zonknz2011-03-07 12:52:29
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My hovercraft is full of eels!
Allegedly
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http://www.eldiariomontanes.es/v/20110228/cantabria/syed-aportara-tres-millones-20110228.htmlCheck out the comments.
[/QUOTE]
[quote]dice que promocionar� el espa�ol en la India? pero si no puede volver a la India, lo reclama all� la polic�a!!! y puede viajar a Australia? preguntadle, preguntadle si puede viajar a esos lugares jajajaj
My bad Spanish translates this to: "He says he will promote Spain in India? But he can't go back to India, the cops will get him there! And can he go to Australia? Ask them that, ask if he can go to those places LOL"
Ramming liberal dribble down your throat since 2009
This forum needs less angst and more Kate Bush threads
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What's more, the hovercraft private jet has had to go back, according to NBR.
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NBR has a free article up:
http://www.nbr.co.nz/article/holdholdholdholdserepisos-liquidation-outcome-mn-p-87577
http://www.nbr.co.nz/article/holdholdholdholdserepisos-liquidation-outcome-mn-p-87577
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Incredible stamina. No shame. Yellow Fever.
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Apparently I'm apathetic, but I couldn't care less.
"Being a Partick Thistle fan sets you apart. It means youre a free thinker. It also means your team has no money." Tim Luckhurst, The Independent, 4th December 2003
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NBR has a free article up:
http://www.nbr.co.nz/article/holdholdholdholdserepisos-liquidation-outcome-mn-p-87577
http://www.nbr.co.nz/article/holdholdholdholdserepisos-liquidation-outcome-mn-p-87577
So, according to that article, Terry owes more than $10 million all up. 
Apparently I'm apathetic, but I couldn't care less.
"Being a Partick Thistle fan sets you apart. It means youre a free thinker. It also means your team has no money." Tim Luckhurst, The Independent, 4th December 2003
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Incredible stamina. No shame. Yellow Fever.
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So, according to that article, Terry owes more than $10 million all up.
All up he will be owing a lot more than 10 million. The biggest chunk will be in mortgages. The real question is whether he has sufficient equity to dig himself out of it and one suspects not or he probably wouldn't have been in so much strife recently. I feel really bad for him and the perverse interest the media has taken in this case. He wasn't eating babies, he was an over leveraged property developer that got stung by the recession.
What happens if CCF is liquidated by the IRD? Would a potential new owner be saddled with the existing debt? How long would it take for a new owner to take control? And would they keep all the intellectual property? I feel its important to get things moving as quickly as possible and keep the Phoenix name, logo etc.
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I feel really bad for him and the perverse interest the media has taken in this case. He wasn't eating babies, he was an over leveraged�property developer that got stung by the recession.
Don't forget: "... and who had already made a lot of enemies by being on The Apprentice, paying bills late, his personal style, owning a football team, being Greek, etc etc."
Ramming liberal dribble down your throat since 2009
This forum needs less angst and more Kate Bush threads
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Manny Muscat could totally kick an electrified zeppelin docking tower's ass.
Ramming liberal dribble down your throat since 2009
This forum needs less angst and more Kate Bush threads
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Smithy - your posts are very worrying.
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So, according to that article, Terry owes more than $10 million all up.
All up he will be owing a lot more than 10 million. The biggest chunk will be in mortgages. The real question is whether he has sufficient equity to dig himself out of it and one suspects not or he probably wouldn't have been in so much strife recently. I feel really bad for him and the perverse interest the media has taken in this case. He wasn't eating babies, he was an over leveraged property developer that got stung by the recession.
What happens if CCF is liquidated by the IRD? Would a potential new owner be saddled with the existing debt? How long would it take for a new owner to take control? And would they keep all the intellectual property? I feel its important to get things moving as quickly as possible and keep the Phoenix name, logo etc.
All the IP - the Phoenix name and logo etc - belong to the FFA.
Along with the right to enter the league they are licensed to Century City Football Limited.
Incredible stamina. No shame. Yellow Fever.
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People dont seem to get it, if Century City Football goes into Liquidation, it is all over, everything reverts back to FFA... EVERYTHING... The License, the Logo, the player contracts...the lot. All that CCF will own is a few odd sized old shirts at the Phoenix store and maybe a few footballs.
Once that happens, any new prospective owner will have to negotiate a deal with the FFA.
Once that happens, any new prospective owner will have to negotiate a deal with the FFA.
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Smithy - your posts are very worrying.
New fever tee:
Incredible stamina. No shame. Yellow Fever.
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love this one, been waiting for it to arrive
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People dont seem to get it, if Century City Football goes into Liquidation, it is all over, everything reverts back to FFA... EVERYTHING... The License, the Logo, the player contracts...the lot. All that CCF will own is a few odd sized old shirts at the Phoenix store and maybe a few footballs.
Once that happens, any new prospective owner will have to negotiate a deal with the FFA.
Once that happens, any new prospective owner will have to negotiate a deal with the FFA.
That was my guess. Shame Sam Morgan is in Kenya this week.
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People dont seem to get it, if Century City Football goes into Liquidation, it is all over, everything reverts back to FFA... EVERYTHING... The License, the Logo, the player contracts...the lot. All that CCF will own is a few odd sized old shirts at the Phoenix store and maybe a few footballs.
Once that happens, any new prospective owner will have to negotiate a deal with the FFA.
Once that happens, any new prospective owner will have to negotiate a deal with the FFA.
Pretty much this.
The player contracts are slightly more fiddly. The players could probably terminte them I reckon.
But yeah, generally this is the idea.
It's a completely different scenario to England where clubs are (generally) corporate entities who are members of a league. In the A League (and MLS) arrangement the league owns the clubs and licences people to manage and run them on its behalf.
Franchise versus independent ownership.
The A League/MLS model gives the league pretty much complete control.
Incredible stamina. No shame. Yellow Fever.
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It's actually a better model for us in this situation, which may allow for a rescue if there are interested parties, and would preserve player deals etc?
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Apparently I'm apathetic, but I couldn't care less.
"Being a Partick Thistle fan sets you apart. It means youre a free thinker. It also means your team has no money." Tim Luckhurst, The Independent, 4th December 2003
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It's actually a better model for us in this situation, which may allow for a rescue if there are interested parties, and would preserve player deals etc?
I'm sure NQ Fury felt the same way...
Incredible stamina. No shame. Yellow Fever.
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How long does it take for the FFA to take back control? Why would the IRD even move to liquidate if there are no assets of value? Just to stop it incurring more debt? I'm somewhat surprised NZ law allows this, seems an easy way to bury debt. Still, not going to complain, definately good news for the club.
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How long does it take for the FFA to take back control? Why would the IRD even move to liquidate if there are no assets of value? Just to stop it incurring more debt? I'm somewhat surprised NZ law allows this, seems an easy way to bury debt. Still, not going to complain, definately good news for the club.
It's really the only option open to the IRD in these circumstances, but you can see why they have allowed it to run for a while - their only real chance of any significant payment is if Terry finds a way to pay.
I've never read an A League licence agreement but a standard sort of termination clause would be that if either party commits an act equivalent to insolvency (like being liquidated by the courts) then the other party has a right to terminate.
Incredible stamina. No shame. Yellow Fever.
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