MCL Posted July 28, 2009 Share Posted July 28, 2009 So for £100,000 someone could take over the club and renegotiate the debts, seems like a good deal to me!! No, that would be Massone's cut The other debt would need to be settled at the agreed level of the CVA, possibly as much as £500,000 if the figures are true. 0 Quote Link to comment Share on other sites More sharing options...
Tonsilitis Posted July 28, 2009 Share Posted July 28, 2009 I've asked this before and you didn't answer. What do you think it gives you the power to veto? How does this veto work? In corporate law you need a 75% majority to pass a special resolution. A special resolution is required for major things like deciding to sell/wind up or make a major acquisition. 0 Quote Link to comment Share on other sites More sharing options...
kiddy Posted July 28, 2009 Share Posted July 28, 2009 No, that would be Massone's cut The other debt would need to be settled at the agreed level of the CVA, possibly as much as £500,000 if the figures are true. Where's the cash coming from to pay out £500k to creditors? They'll be lucky to get a couple of pence in the pound, again. 0 Quote Link to comment Share on other sites More sharing options...
BANKIEBILL Posted July 28, 2009 Share Posted July 28, 2009 As has already been pointed out to you (well ignored, by the way) going by your own logic the SFL should have got rid of Clydebank years before they did, especially since they referred to them as a "non-club". How come you were so outraged at the actions of the SFL when it involved Clydebank, but reckon they should have taken action before now regarding Livingston? What's the point of being a football fan if you can't be hypocritical I take no pleasure in seeing fellow football fans suffer - you will know ( or maybe you can recall in the recesses of your memory ) how bad it felt. However Livi as a club are unsustainable. As has been - very perceptively put - previously, the stadium is like an albatross around the neck of any nascent club ... a bit like Airdrie Utd. Too big for 1000 or so fans and the upkeep is too expensive. Anyway - what happens happens ... there's life after "losing" your team ... with the right attitude and a bit of will then there's a way back. 0 Quote Link to comment Share on other sites More sharing options...
Rovers_Lad Posted July 28, 2009 Share Posted July 28, 2009 Where's the cash coming from to pay out £500k to creditors? They'll be lucky to get a couple of pence in the pound, again. Correct The losers out of all of this for a second time appear to be the creditors.But thats okay as long as Livi survive 0 Quote Link to comment Share on other sites More sharing options...
MCL Posted July 28, 2009 Share Posted July 28, 2009 Where's the cash coming from to pay out £500k to creditors? They'll be lucky to get a couple of pence in the pound, again. That would come from the new sugar daddies 0 Quote Link to comment Share on other sites More sharing options...
Barney Pickleton Posted July 28, 2009 Share Posted July 28, 2009 If Livi go bust, WLC will help start a new team West Lothian United, and play in the EofS league for a season, then apply to get into the 9 team 3rd Div the following season, poor Spartans. 0 Quote Link to comment Share on other sites More sharing options...
Guest el bawbag Posted July 28, 2009 Share Posted July 28, 2009 This is going to be a long, sleepless night. 0 Quote Link to comment Share on other sites More sharing options...
Santana Posted July 28, 2009 Share Posted July 28, 2009 Don't worry Livi fans. If Livi become extinct like the dinosaurs and Jesus, there will be a new team. SO I'm told anyway. 0 Quote Link to comment Share on other sites More sharing options...
phantoms-livi-lass Posted July 28, 2009 Share Posted July 28, 2009 This is going to be a long, sleepless night. I wish I knew what was going on in Massone's head right now! I bet he is sleeping like a baby! 0 Quote Link to comment Share on other sites More sharing options...
Big G... Posted July 29, 2009 Share Posted July 29, 2009 I think Massone is going to take this to the wire. I just get the feeling there is something we didn't know about going to raise its head. Massone isn't going to walk away for that amount of money if he thinks he can catch a bigger fish. Why else would he be hanging round until this stage? There could be an endgame still to come into play which could take us all by surprise. If, however, it does all end in tears for the Livi fans, then I am looking forward to what should be an absolute cracker of a farewell speech from the Mad-one. Everyone in the world will be blamed from Barack Obama to Dr Who. Having been through it, I do genuinely feel for the Livi fans who have only tried to support their club. Like most fans, they weren't party to the internal politics of the Boardroom, and as such, couldn't influence the crazy spending habits of those in charge. I think it is unfair to tar them all with the same brush, and most of them realise they have been caught up in something which has spread more out of control than Jordans legs. I have followed this thread with a great deal of interest ( not self-interest, it has to be said), and there have been a lot of very good points made, and a lot of very good arguments debated. At the end of the day, whatever your viewpoint, real people have been, and are still to be, affected by this whole sorry affair. Thats the sad part about it. 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted July 29, 2009 Share Posted July 29, 2009 I feel for the Livingston fan who was waving pound notes down Cappielow during our troubles. Karma's a fucking bitch. -1 Quote Link to comment Share on other sites More sharing options...
MCL Posted July 29, 2009 Share Posted July 29, 2009 I think Massone is going to take this to the wire. I just get the feeling there is something we didn't know about going to raise its head. Massone isn't going to walk away for that amount of money if he thinks he can catch a bigger fish. Why else would he be hanging round until this stage? There could be an endgame still to come into play which could take us all by surprise.If, however, it does all end in tears for the Livi fans, then I am looking forward to what should be an absolute cracker of a farewell speech from the Mad-one. Everyone in the world will be blamed from Barack Obama to Dr Who. Having been through it, I do genuinely feel for the Livi fans who have only tried to support their club. Like most fans, they weren't party to the internal politics of the Boardroom, and as such, couldn't influence the crazy spending habits of those in charge. I think it is unfair to tar them all with the same brush, and most of them realise they have been caught up in something which has spread more out of control than Jordans legs. I have followed this thread with a great deal of interest ( not self-interest, it has to be said), and there have been a lot of very good points made, and a lot of very good arguments debated. At the end of the day, whatever your viewpoint, real people have been, and are still to be, affected by this whole sorry affair. Thats the sad part about it. Rankine and his team met with McGruther tonight. It wouldn't surprise me if Rankine was so keen to get his hands on the stadium that he would bung Massone a few extra quid on the side to take the deal. That would leave Rankine in pole position although he has said he wanted to work with McDougall and the fans so there's still a possibility of a shared venture. It depends on McDougall who has said he wanted sole control of the club. I'm always an optimist so I'm sure everything will fall into place tomorrow 0 Quote Link to comment Share on other sites More sharing options...
Big G... Posted July 29, 2009 Share Posted July 29, 2009 I feel for the Livingston fan who was waving pound notes down Cappielow during our troubles. Karma's a fucking bitch. Thats why I said we shouldn't tar them all with the same brush. There are fans of every club who I wouldn't piss on if they were on fire, but I am a supporter of a lower league club in scotland, who has been through what is happening to Livi just now, and while I have absolutely no sympathy for the Club and the way it was run, I do have empathy with the genuine fans of the club. 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted July 29, 2009 Share Posted July 29, 2009 Thats why I said we shouldn't tar them all with the same brush. There are fans of every club who I wouldn't piss on if they were on fire, but I am a supporter of a lower league club in scotland, who has been through what is happening to Livi just now, and while I have absolutely no sympathy for the Club and the way it was run, I do have empathy with the genuine fans of the club. Yeah, but they should set up a new club that won't serially cheat in the manner that their current husk's owners have. Sympathy doesn't extend past the actual need for Scottish football to purge itself of this rotten entity. -1 Quote Link to comment Share on other sites More sharing options...
phantoms-livi-lass Posted July 29, 2009 Share Posted July 29, 2009 10 hours.... 0 Quote Link to comment Share on other sites More sharing options...
Guest Dave Lister Posted July 29, 2009 Share Posted July 29, 2009 Tick...tock 0 Quote Link to comment Share on other sites More sharing options...
CM. Posted July 29, 2009 Share Posted July 29, 2009 Not long now.. 0 Quote Link to comment Share on other sites More sharing options...
Guest Dave Lister Posted July 29, 2009 Share Posted July 29, 2009 Not long now.. 0 Quote Link to comment Share on other sites More sharing options...
el Gringo Posted July 29, 2009 Share Posted July 29, 2009 As an Airdrie fan I know exactly what the Livi fans are going through just now, and I genuinely feel for them. However, there was no was I could resist this... Sorry! 0 Quote Link to comment Share on other sites More sharing options...
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