MCL Posted March 13, 2011 Share Posted March 13, 2011 Think MCL should be taken behind the woodshed, theres clearly something lacking in his life that he's so fixated on the Trust. Another one who wants to bum me !! :lol: 0 Quote Link to comment Share on other sites More sharing options...
LIVIFOREVER Posted March 13, 2011 Share Posted March 13, 2011 You wish, wouldn't even go near you with Massones, besides, you do enough bumming on here, you're getting rather fixated with that too. 0 Quote Link to comment Share on other sites More sharing options...
MCL Posted March 18, 2011 Share Posted March 18, 2011 You wish, wouldn't even go near you with Massones, besides, you do enough bumming on here, you're getting rather fixated with that too. You make that sound as if you've kept Massone's as a trophy :lol: 0 Quote Link to comment Share on other sites More sharing options...
MCL Posted March 21, 2011 Share Posted March 21, 2011 I hear Livi are getting into dire straights again. The club's credit rating had been amended down after various CCJs. Apparently they are rated 3/100 which is very high risk and have a recommended credit limit of £0 and are paying bills over 4 months late. The "Trust" have only raised £20k of the £50k required to get their man on the board for 2 years. There's only a year left of that deal and I can't see anyone else getting on unless they raise £30k in the next 12 months and another £50k for the following 2 years. Anyone know how many shares they got in return for all that cash ? 0 Quote Link to comment Share on other sites More sharing options...
MCL Posted March 30, 2011 Share Posted March 30, 2011 I've just seen the latest abbreviated accounts dated up to end June 2010. The club at that point were £2m in debt and I can't see that improving this year when they had a period of 3 months without a home game. Almost £900k is owed to the directors in loans. Is the fan's rep on the board reporting this back to the "Trust" ? If so, is it being explained to the membership? When is the target of 99p in the £ going to be hit? What happened to all those supporters who were going to keep an eye on the new owners? Why does no-one answer my questions? 0 Quote Link to comment Share on other sites More sharing options...
QOS Sean Posted March 31, 2011 Share Posted March 31, 2011 They dont know the answers. 0 Quote Link to comment Share on other sites More sharing options...
EdinburghLivi Posted March 31, 2011 Share Posted March 31, 2011 (edited) I've just seen the latest abbreviated accounts dated up to end June 2010. The club at that point were £2m in debt and I can't see that improving this year when they had a period of 3 months without a home game. Almost £900k is owed to the directors in loans. Is the fan's rep on the board reporting this back to the "Trust" ? If so, is it being explained to the membership? When is the target of 99p in the £ going to be hit? What happened to all those supporters who were going to keep an eye on the new owners? Why does no-one answer my questions? The Director's Loans is the greatest concern for me. We were told there were no loans. Why do you seem more concerned about laughing at the Trust's expense than the state of the club? Edited March 31, 2011 by EdinburghLivi 0 Quote Link to comment Share on other sites More sharing options...
EdinburghLivi Posted March 31, 2011 Share Posted March 31, 2011 Is there any sort of report from the Chairman, MCL? 0 Quote Link to comment Share on other sites More sharing options...
MCL Posted March 31, 2011 Share Posted March 31, 2011 No report, just signed off by mcd. 0 Quote Link to comment Share on other sites More sharing options...
Glasgow Loon Posted March 31, 2011 Share Posted March 31, 2011 I've just seen the latest abbreviated accounts dated up to end June 2010. The club at that point were £2m in debt and I can't see that improving this year when they had a period of 3 months without a home game. Almost £900k is owed to the directors in loans. Is the fan's rep on the board reporting this back to the "Trust" ? If so, is it being explained to the membership? When is the target of 99p in the £ going to be hit? What happened to all those supporters who were going to keep an eye on the new owners? Why does no-one answer my questions? Is the debt made up from when they took over from massone or was that all written off and this £2m is from when Mcdougall and co started afresh? 0 Quote Link to comment Share on other sites More sharing options...
MCL Posted March 31, 2011 Share Posted March 31, 2011 Is the debt made up from when they took over from massone or was that all written off and this £2m is from when Mcdougall and co started afresh? It's since they took over as you can see from this snippet giving the amount from 2009 and the total as of June 2010. 0 Quote Link to comment Share on other sites More sharing options...
Glasgow Loon Posted March 31, 2011 Share Posted March 31, 2011 (edited) Thanks for that. Interesting to see that a season in division 3 when they started with no debt,they finish with a £2m debt. The £2m debt includes Loans by the directors for £873,000. So old habits die hard as usual with livi. Edited March 31, 2011 by 55022 0 Quote Link to comment Share on other sites More sharing options...
Nowhereman Posted March 31, 2011 Share Posted March 31, 2011 Thanks for that. Interesting to see that a season in division 3 when they started with no debt,they finish with a £2m debt. The £2m debt includes Loans by the directors for £873,000. So old habits die hard as usual with livi. So they walk through Divisions three and two by running up debts which they are unlikely to be able to repay ! Given their history that is unforgiveable but hardly surprising. The sooner the sfl introduce some sort of annual accounting inspection along the German lines the better 0 Quote Link to comment Share on other sites More sharing options...
thruthenight Posted March 31, 2011 Share Posted March 31, 2011 This is genuinely worrying. Especially after being told that there were no directors loans. 2m in 18 months is hefty, what was Massone's record? 0 Quote Link to comment Share on other sites More sharing options...
Glasgow Loon Posted March 31, 2011 Share Posted March 31, 2011 The 2m is not in 18 months its up till june 2010. So will the figure for the 2010-2011 accounts be about the same then? If so then it will be very worrying that they could be £4m in debt by the time the get back to division 1. 0 Quote Link to comment Share on other sites More sharing options...
nofixedability Posted March 31, 2011 Share Posted March 31, 2011 The biggest surprise would be that anyone is surprised by this. 0 Quote Link to comment Share on other sites More sharing options...
AmberGambler Posted March 31, 2011 Share Posted March 31, 2011 Is the debt made up from when they took over from massone or was that all written off and this £2m is from when Mcdougall and co started afresh? i'd have thought the CVA would have had to be dealt with by the new owners, not all of it can be paid out as 5p in the pound, also staff were 6 months in arrears with massone, they got settled up with the new owners, players contracts, money owed to other football clubs from Flynns time, which Massone then ignored, isn't quite as simple as MCL is suggesting. 0 Quote Link to comment Share on other sites More sharing options...
AmberGambler Posted March 31, 2011 Share Posted March 31, 2011 The biggest surprise would be that anyone is surprised by this. Doubt anyone is, unless they really thought losing 300 of the ST money to Massone and inheriting his mess, then being dumped into the 3rd Div whilst having players on 1st Div contracts would let the new owners be able to wave a magic wand and break even. MCL loves the limelight though, he'll dine out on this for the rest of the season. 0 Quote Link to comment Share on other sites More sharing options...
EdinburghLivi Posted March 31, 2011 Share Posted March 31, 2011 I'm stunned Livi supporters are being so flippant about this. 0 Quote Link to comment Share on other sites More sharing options...
AmberGambler Posted March 31, 2011 Share Posted March 31, 2011 Don't think anyone is being flippant, but this place is hardly where you're going to get answers to any questions you have. -1 Quote Link to comment Share on other sites More sharing options...
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