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Phoenix Ownership - Rob says FTFFA (Part 2)

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Posted March 25, 2018 21:47 · last edited March 18, 2021 07:34

Ryan wrote:
sthn.jeff wrote:
Ryan wrote:
Napier Phoenix wrote:
Blew.2 wrote:
patrick478 wrote:
Napier Phoenix wrote:

I'd suggest that Rob is far more circumspect than old Gareth and I know who I think you're most likely to get the truth out of [however painful it might be for you Patrick and others].

This requires starting wit the assumption that Gareth actually knows what the truth is.

If Rob was not committed to the Nix long term why would he be jetting off to FFA headquarters regularly to discuss  APFC plans for the future(Most likely at his cost). Also why would the APFC have him as a major part of the group if they did not want Wgtn in. 

Easy to ask questions to get the info to back anyone's slant on a topic. Just ask the RBB :-)

Most likely at his own cost.... I doubt it, it will be a legitimate business expense and if they are running the club at a loss, then you and I as tax payers are subsidising all of this.

An accountant may correct me here but I thought it was established that WelNix / Investnix are an LP which severely limits the owners ability to claim losses but reduces their liabilities.

Welnix is a Limited Liability Co, whose shares are owned by Investnix Ltd, with Rob Morrison as sole shareholder (presumably he holds them as a trustee for the others)

It would be a surprise if they have not somehow structured for shareholders to offset losses in some manner

Doesn't the fact that WelNix is actually known as WelNix GP (as in General Partner) actually indicate that it's an LP though?

Yes, it's obviously an LP.  All an LP means is that the partners pay their own tax so any losses flow through to the investors.  An LP is a look-through for tax.

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Unknown editor edited March 18, 2021 07:34
Ryan wrote:
sthn.jeff wrote:
Ryan wrote:
Napier Phoenix wrote:
Blew.2 wrote:
patrick478 wrote:
Napier Phoenix wrote:

I'd suggest that Rob is far more circumspect than old Gareth and I know who I think you're most likely to get the truth out of [however painful it might be for you Patrick and others].

This requires starting wit the assumption that Gareth actually knows what the truth is.
If Rob was not committed to the Nix long term why would he be jetting off to FFA headquarters regularly to discuss  APFC plans for the future(Most likely at his cost). Also why would the APFC have him as a major part of the group if they did not want Wgtn in. 

Easy to ask questions to get the info to back anyone's slant on a topic. Just ask the RBB :-)

Most likely at his own cost.... I doubt it, it will be a legitimate business expense and if they are running the club at a loss, then you and I as tax payers are subsidising all of this.

An accountant may correct me here but I thought it was established that WelNix / Investnix are an LP which severely limits the owners ability to claim losses but reduces their liabilities.

Welnix is a Limited Liability Co, whose shares are owned by Investnix Ltd, with Rob Morrison as sole shareholder (presumably he holds them as a trustee for the others)

It would be a surprise if they have not somehow structured for shareholders to offset losses in some manner

Doesn't the fact that WelNix is actually known as WelNix GP (as in General Partner) actually indicate that it's an LP though?

Yes, it's obviously an LP.  All an LP means is that the partners pay their own tax so any losses flow through to the investors.  An LP is a look-through for tax.