Kenny Huang linked to Liverpool takeover

[Red Nick]

I'm loving that law firm name 'Slaughter and May'

 

Slaughter in May would have been more appropriate.

[StevieH]

I've just posted Bacombe's article. It doesn't say that they were approved for refinance it says they approached two institutions to look for refinance.

 

I don't know why people would get their knickers in a twist over this.

Of course they have looked at every option to refinance, they want to keep us. They can't becuase they haven't go the money and can't raise it.

 

I'd have been more surprised had they not tried to refinance it.

 

Because it shows once again that they have lied and are looking to cling on rather than sell the club.

[Albertini]

Nope they cant take repossession of there assets without putting the club into administration. its like having your house repossessed

 

Obvioulsy if its done with the owners consent then that is different.

 

Wrong. They can do a debt for equity swap.

[Aldonose]

Wrong. They can do a debt for equity swap.

 

How does it work if the debt is more than the equity in that scenario?

[Albertini]

Because it shows once again that they have lied and are looking to cling on rather than sell the club.

 

But we all knew they were liars and we all know now that they never wanted to sell us they were forced into it.

 

Nothing new there.

[Guest Numero Veinticinco]

Because it shows once again that they have lied and are looking to cling on rather than sell the club.

 

I don't think it shows much more than an attempt to place pieces of the puzzle together by Bascombe, to be honest. Again, no quotes, no source, just bits of the puzzle being presented in a way that the writer wants to do it.

[Albertini]

How does it work if the debt is more than the equity in that scenario?

 

The RBS debt is less than the value of the club currently. If it isn't they can pursue them through their £110 million personal guarantees for the difference.

[StevieH]

But we all knew they were liars and we all know now that they never wanted to sell us they were forced into it.

 

Nothing new there.

 

The interest is now £10m per month. This is why people should be jumping up and down. Each week that passes the asking price goes up by another £2.5m.

[Red Nick]

Wrong. They can do a debt for equity swap.

 

You really havent got a clue what your talking about. I suggest you stop trying to look clever and go to company law school.

 

RBS can do lots of things but with the consent of the shareholders. if not they have to legally enforce the repossession of there assets which will take the form of a 21 day statutory demand, that is uk law.

[Aldonose]

The RBS debt is less than the value of the club currently. If it isn't they can pursue them through their £110 million personal guarantees.

 

Cheers fella.

[TheHitman]

Yes more sensationalism form Chris B. Whilst administraiton is an option it makes more sense and banks appear now to be more comfortbale taking over and running businesses to sel them in order to protect their investments.

 

Banks now know that as soon as you enter admin it's a firesale.

 

Sister in law works for Connaught a big building firm. Their lenders are about to take control of that business to sel it on.

 

The idea that banks don't want to run companyies went out of the window with the recession. It is beoming more common place and i am sure would happen to us.

 

There is no benefit to RBS (and lots of negatives) to them putting in us in admin.

 

 

 

But where are these cash flow forecasts that show us as a viable cash positive business? Any new deal would have higher interest rates further increasing the losses.

 

Even the article from Bascombe says they were blocked by the board. This seems to prove further that the board's powers have increased following the defualt of their RBS loan.

 

If they can block a sale why can't they stop the board blocking a refinance?

 

If we have or are going to pay nearly fifty million between Feb and Oct then I am sure even with their precarious position they may find another lender lower than this price range. I m unsure what APR that would work at but it is pretty astounding and probably more than the local pawnbrokers.

[Aldonose]

In that case would we still incur a points penalty?

[Albertini]

The interest is now £10m per month. This is why people should be jumping up and down. Each week that passes the asking price goes up by another £2.5m.

 

Correct and i agree with you but as I have posted before this interest is being levied not on the club but on the owners holding company.

 

And it is being levied to pressure the owners to sell, as simple as that. LFC will not pay it.

 

To be fair the first reaction was "for fuck's sake another Bascombe load of shite" but actually i'm glad that the article is there.

 

It will further increase pressure on the two cunts, the board and RBS.

 

I want to see more of it, because Purslow will get asked about it tomorrow on R5, Broughton will know about as as will all the big kahuna's at RBS.

 

I have no doubt H&G don't give two shits about doing the right thing but clearly the Board & RBS do and so far they have played it just right.

 

Not just that but i think we're in a bit of willy waving contest here where the bank doesn't want to be seen to meekly surrendering to these two conmen.

 

They've taken enough shit from the fans and the press and seem to want to convince us all that they are interested in the long term future of the club.

[Torvald Utne]

I'm loving that law firm name 'Slaughter and May'

 

Getting rid of G&H is proving to be a.... Wright Hassall Solicitors. Quality legal advice.

[Red Nick]

Well here we go again, The Yanks have been trying to re-finance us to the tune of £290m(why is it not £237m Dom King?), As for people not thinking we wont go into administration, get fucking real. There is not a bid for the club on the table, the debt at the minute now stands at £273.5m as £7.5m kicked in today, another £7.5m kicks in on 31st August, and come October it will be £290, so why the fuck would no chinese or syrian consortium put up last week at a cheaper price than wait for October.

 

Some people really need to look beyond the persons name who wrote it. Its seriously fucking worrying, but dont worry lads the people on RAWK keep telling us its a matter of days and just watch football.

 

Here is something for Kenny Hueng. Fuck off you chinese twat and stop playing fucking games with our club, you were asked to put up but you shut up. Fuck off you cunt.

 

Oh and thank you Christian Purslow for blocking the deal, same as Mr Broughton you Chelsea twat.

 

Top post, best of the whole thread, it cant put up beause he doesnt have it. A real buyer would have just bought the club and kept his mouth shut until his bid was accepted

[StevieH]

Correct and i agree with you but as I have posted before this interest is being levied not on the club but on the owners holding company.

 

And it is being levied to pressure the owners to sell, as simple as that. LFC will not pay it.

 

To be fair the first reaction was "for fuck's sake another Bascombe load of shite" but actually i'm glad that the article is there.

 

It will further increase pressure on the two cunts, the board and RBS.

 

I want to see more of it, because Purslow will get asked about it tomorrow on R5, Broughton will know about as as will all the big kahuna's at RBS.

 

I have no doubt H&G don't give two shits about doing the right thing but clearly the Board & RBS do and so far they have played it just right.

 

Not just that but i think we're in a bit of willy waving contest here where the bank doesn't want to be seen to meekly surrendering to these two conmen.

 

They've taken enough shit from the fans and the press and seem to want to convince us all that they are interested in the long term future of the club.

 

And what is the holding companies biggest asset?

[Red Phoenix]

There is not a bid for the club on the table, the debt at the minute now stands at £273.5m as £7.5m kicked in today, another £7.5m kicks in on 31st August, and come October it will be £290, so why the fuck would no chinese or syrian consortium put up last week at a cheaper price than wait for October.

 

Am sure I've read somewhere that any potential buyers have been told they won't have to pay some of that, but might be wrong and remembering something else.

 

Top post, best of the whole thread, it cant put up beause he doesnt have it. A real buyer would have just bought the club and kept his mouth shut until his bid was accepted

 

If the board are still picking the best bid how could someone have bought the club by now?

[Red Nick]

Just to add the fucking obvious personal guarantees are worthless if the person giving the guarantee is broke or has no money.

[Juan Galonso]

Well here we go again, The Yanks have been trying to re-finance us to the tune of £290m(why is it not £237m Dom King?), As for people not thinking we wont go into administration, get fucking real. There is not a bid for the club on the table, the debt at the minute now stands at £273.5m as £7.5m kicked in today, another £7.5m kicks in on 31st August, and come October it will be £290, so why the fuck would no chinese or syrian consortium put up last week at a cheaper price than wait for October.

 

Some people really need to look beyond the persons name who wrote it. Its seriously fucking worrying, but dont worry lads the people on RAWK keep telling us its a matter of days and just watch football.

 

Here is something for Kenny Hueng. Fuck off you chinese twat and stop playing fucking games with our club, you were asked to put up but you shut up. Fuck off you cunt.

 

Oh and thank you Christian Purslow for blocking the deal, same as Mr Broughton you Chelsea twat.

 

Great post Al and hopefully this will put to bed the nonsense that Broughton and Purslow are out to fuck us over once and for all.

 

I am glad they opposed this and I trust them that they want to make the right decisions for the club but if there are no bids on the table then what more can be done? The debt goes up the club becomes a less attractive proposition to buy. In other words, we are fucked.

 

I think personally we should have went into administration last season. The season was a write off anyway.

[karl1987]

Well here we go again, The Yanks have been trying to re-finance us to the tune of £290m(why is it not £237m Dom King?), As for people not thinking we wont go into administration, get fucking real. There is not a bid for the club on the table, the debt at the minute now stands at £273.5m as £7.5m kicked in today, another £7.5m kicks in on 31st August, and come October it will be £290, so why the fuck would no chinese or syrian consortium put up last week at a cheaper price than wait for October.

 

Some people really need to look beyond the persons name who wrote it. Its seriously fucking worrying, but dont worry lads the people on RAWK keep telling us its a matter of days and just watch football.

 

Here is something for Kenny Hueng. Fuck off you chinese twat and stop playing fucking games with our club, you were asked to put up but you shut up. Fuck off you cunt.

 

Oh and thank you Christian Purslow for blocking the deal, same as Mr Broughton you Chelsea twat.

 

Wasnt there an article the other day from the bank, that stated if the club gets sold for less than the total debt then they will be chasing the owners personal money and not the clubs, hance why they reckon they club should get sold pretty soon.

[TheHitman]

RBS being portrayed as some sort of good Samaritan in all of this is some sort of sick joke.

[cochcaer]

Everyone knows the club is overvalued by Tom & Jerry and the bottom line appears to be no fecker will meet their valuation however much time they buy themselves.

[Red Nick]

Am sure I've read somewhere that any potential buyers have been told they won't have to pay some of that, but might be wrong and remembering something else.

 

 

 

If the board are still picking the best bid how could someone have bought the club by now?

 

Mate your a clever lad, dont be an idiot like the rest of them.

 

ATK is bang on the money.

[StevieH]

It is time to put up or shut up for Kenny Huang and any other serious investor. If they have the cash behind them then do the deal now, as the price will only continue to go up the longer that they drag their heels and court publicity.

[Red Nick]

Wasnt there an article the other day from the bank, that stated if the club gets sold for less than the total debt then they will be chasing the owners personal money and not the clubs, hance why they reckon they club should get sold pretty soon.

 

They dont have any money to pay the personal guarantees so if it is sold for less than the debt RBS will lose money, its that simple