A busted flush, Tom English and the subtle difference between Loans and Advances

boab1916 said:
Twice Anne Budge distances herself from his comments

https://youtu.be/_Y8-RaewvF4
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I wonder if this is the evidence that sevco have ann budge and the sevco big wigs were sitting around the table and Ann chirps up and say wait till ya hear this one and gives it the heap about loans to 2 spl clubs then that's it we've nailed it got the bastards now.if that's thier evidence what will they use now seeing as that's useless.
 
Spherical Planet said:
Top quality writing again by Niall in his latest piece. Outstanding use of analogy and with an incision that cuts right to the heart of the matter without getting bogged down in typical journalistic 'hacksplaining'

How I wish that fella was a professional in the field of journalism. I'm not sure his editor would fully approve of his copy, but I'm 100% certain that the readership would (unless they happened to be sevco fans).

Truly outstanding work and a good reminder to go and indulge Bill Hicks on YouTube again.
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Kind words SP (y) . Hicks was a genuine bona fide genius, taken well before his time, though he'll look down with thanks I'm sure. I'm happy to stick with my editor. Not once has he refused an article or asked me to be a mouthepiece. Not sure I'd get that in the world of msm, they can have the money:censored:
 
The Galway shawl said:
No case to answer FC are Gaunna have to come out with earh shattering news! Roll up donkey ears and hobnobs Mon now famous need yer bucks! Nae " super" but we have Alfie! Mon geezes yer bucks wee are the peepul! 😂😂
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HirsutePursuit 2nd May 2020 at 16:58

FYI, it was reported (by the DR) that the Rangers[sic] resolution was as follows:
That the board of the company be authorised and instructed to make payment to the member clubs of the league of loans equal to the amount that such member clubs would become entitled to if the Scottish Football Leagues were completed and each member club’s position in the completed league was the same as the position in which that member club is presently.
Such loans to be provided without the payment of interest or fees to the league by the member clubs and to be made forthwith on the passing of this resolution and to continue to be available until the league determines that a final allocation of the payments to member clubs in respect of season 2019/2020 can be made.
On such determination by the league, member clubs shall be entitled to effect repayment by written confirmation to the league that the loan provided to that member club may be set against the equivalent amount of the repayment to be made to such member club on determination.
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The "and instructed" phrase is important – because it appears to attempt to remove the board's power to take steps to ensure that each prospective borrower would be in a position to make repayment if necessary.
Of course, if the league positions were subsequently called as is, no repayments would be necessary.
However, if the leagues were to restart at a later date (say in July/August), the final positions are likely to change and some clubs would have been overpaid.
With the probibility of multiple insolvency events over the next few weeks and months, it's possible not all clubs will survive until that 'final' decision is made. Many may not be in a position to restart the season and, at the very least, their final positions could ultimately be significantly lower than where they are placed now. Failing to finish the season may even mean expulsion and the loss of some or all entitlement to prize money.
As I read it, the "and instructed" phrase was incompetent – as it would place the board in breach of its fiduciary duty.
Without that phrase, the resolution became largely meaningless as the board has always had the authority to provide loans.
The question then centres around how many clubs would have qualified for a loan? How many would have been able and/or prepared to put forward personal guarantees? Could the SPFL members have confidence that all loans of greater value than the eventual prize money would be repaid?
Without the "and instructed" phrase, loans would have been be available for clubs that were in a decent financial position.
Clubs, already on their arses, simply wouldn't have qualified.
 
boab1916 said:
HirsutePursuit 2nd May 2020 at 16:58

FYI, it was reported (by the DR) that the Rangers[sic] resolution was as follows:

The "and instructed" phrase is important – because it appears to attempt to remove the board's power to take steps to ensure that each prospective borrower would be in a position to make repayment if necessary.
Of course, if the league positions were subsequently called as is, no repayments would be necessary.
However, if the leagues were to restart at a later date (say in July/August), the final positions are likely to change and some clubs would have been overpaid.
With the probibility of multiple insolvency events over the next few weeks and months, it's possible not all clubs will survive until that 'final' decision is made. Many may not be in a position to restart the season and, at the very least, their final positions could ultimately be significantly lower than where they are placed now. Failing to finish the season may even mean expulsion and the loss of some or all entitlement to prize money.
As I read it, the "and instructed" phrase was incompetent – as it would place the board in breach of its fiduciary duty.
Without that phrase, the resolution became largely meaningless as the board has always had the authority to provide loans.
The question then centres around how many clubs would have qualified for a loan? How many would have been able and/or prepared to put forward personal guarantees? Could the SPFL members have confidence that all loans of greater value than the eventual prize money would be repaid?
Without the "and instructed" phrase, loans would have been be available for clubs that were in a decent financial position.
Clubs, already on their arses, simply wouldn't have qualified.
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Just like the 20m fresh investment? Bhoy sniffed the pants and refused to go in! Toxic club, just cos squitnty has done one do you think the cold shoulder has been lifted think again! Thick then ,thick now, thick forever. Fuckin love it! Can't see beyond themselves....demoted...😂😂😂
 
The Galway shawl said:
Just like the 20m fresh investment? Bhoy sniffed the pants and refused to go in! Toxic club, just cos squitnty has done one do you think the cold shoulder has been lifted think again! Thick then ,thick now, thick forever. Fuckin love it! Can't see beyond themselves....demoted...😂😂😂
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I personally find it very sad a club with history going doon the pan.....🤔🤔🤔🤔 fuckin hell wrang club wrang thread 😂😂😂 hmmm I personally canny stoap laffing new club nae history nae trophy’s apart fae the petroltank wan😂😂 GIRUY I certainly will enjoy my steak pie when youse fuckin die again Mmmm jelly and ice cream anycunt 🍀🍀🍀🍀🍀🍀🍀🍀🍀
 
The Galway shawl said:
Thank you for your post big man it's right in the laughing like fuck box! And aye enjoy yer meal! 😉😂😂
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Cheers 👍 fuck them cunts dying and there still at there shite 🍀😂 fuckin never thought pain could be so DELICIOUS 😂😂😂 fuck yer two Ronnies fuck yer father ted fuck Phoenix nights 😂😂 that mob are the funniest shower a shite ever 🍀😂😂 and it’s aw fuckin free 😂😂😂 whit a boax set that wid be 😂😂😂
 
Bigian65 said:
Cheers 👍 fuck them cunts dying and there still at there shite 🍀😂 fuckin never thought pain could be so DELICIOUS 😂😂😂 fuck yer two Ronnies fuck yer father ted fuck Phoenix nights 😂😂 that mob are the funniest shower a shite ever 🍀😂😂 and it’s aw fuckin free 😂😂😂 whit a boax set that wid be 😂😂😂
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Correct...bit this is pants wringing material, fuckin filthy gaun out the box again! Learning fuck all the first time round! JOHN DE LORER WRINGING STUFF....thick as fuck!😂😂😂
 
boab1916 said:
HirsutePursuit 2nd May 2020 at 16:58

FYI, it was reported (by the DR) that the Rangers[sic] resolution was as follows:

The "and instructed" phrase is important – because it appears to attempt to remove the board's power to take steps to ensure that each prospective borrower would be in a position to make repayment if necessary.
Of course, if the league positions were subsequently called as is, no repayments would be necessary.
However, if the leagues were to restart at a later date (say in July/August), the final positions are likely to change and some clubs would have been overpaid.
With the probibility of multiple insolvency events over the next few weeks and months, it's possible not all clubs will survive until that 'final' decision is made. Many may not be in a position to restart the season and, at the very least, their final positions could ultimately be significantly lower than where they are placed now. Failing to finish the season may even mean expulsion and the loss of some or all entitlement to prize money.
As I read it, the "and instructed" phrase was incompetent – as it would place the board in breach of its fiduciary duty.
Without that phrase, the resolution became largely meaningless as the board has always had the authority to provide loans.
The question then centres around how many clubs would have qualified for a loan? How many would have been able and/or prepared to put forward personal guarantees? Could the SPFL members have confidence that all loans of greater value than the eventual prize money would be repaid?
Without the "and instructed" phrase, loans would have been be available for clubs that were in a decent financial position.
Clubs, already on their arses, simply wouldn't have qualified.
Click to expand...
"And instructed",the arrogant phux can't help themselves,everything the do turns tae shite,due to arrogance, hubris and appeasing the scum that support them 🥢
 
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