Deleted
Deleted Member
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Post by Deleted on Sept 14, 2015 9:58:24 GMT
people talk about the fact that HUFC could of been saved. I'm interested to know why people think that and why they think it didn't happen. Also where do they think we would be today if it did happen.
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Post by excitable on Sept 14, 2015 10:07:24 GMT
It wasnt saved. It doesn't exist.Join the real world and enjoy what we have
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jc
Junior Member
Having a small psychotic episode - will be back yesterday, maybe!
Posts: 482
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Post by jc on Sept 14, 2015 10:16:40 GMT
its all hypothetical now, but I think people believed that if they could have gotten DK to be realistic and honest they could have stumped up the money to buy the club. he wasnt so it proved difficult to get to the real truth of where the club actually were finance wise.
It didnt happen because DK was only interested in getting a return back on his investment. He sold to the highest bidder, irrespective of where that would take the club.
I am of the opinion that today, we would be in exactly the same position we are in now. I think the debts were unserviceable and would have eventually have resulted in liquidation of the club anyway.
Whilst I strongly detested the TA and AL method of dodgy business, from the data I saw at the Winding Up Hearings, I think they did in fact demonstrate that the club was far more in debt than we have originally been lead to believe. That does not excuse them for their behaviour after all, they had the opportunity and should have paid to have undertaken a full and proper due diligence on the club. They chose not to and that was purely and utterly their choice.
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Post by Peroni on Sept 14, 2015 10:27:32 GMT
No point worrying about it now. I take no pleasure in being proved right, but I saw the end of HUFC coming a long time before the Forum Clique cottoned on. Cannot even start to describe how indebted we are to you |
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Deleted
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Post by Deleted on Sept 14, 2015 10:40:40 GMT
its all hypothetical now, but I think people believed that if they could have gotten DK to be realistic and honest they could have stumped up the money to buy the club. he wasnt so it proved difficult to get to the real truth of where the club actually were finance wise. It didnt happen because DK was only interested in getting a return back on his investment. He sold to the highest bidder, irrespective of where that would take the club. I am of the opinion that today, we would be in exactly the same position we are in now. I think the debts were unserviceable and would have eventually have resulted in liquidation of the club anyway. Whilst I strongly detested the TA and AL method of dodgy business, from the data I saw at the Winding Up Hearings, I think they did in fact demonstrate that the club was far more in debt than we have originally been lead to believe. That does not excuse them for their behaviour after all, they had the opportunity and should have paid to have undertaken a full and proper due diligence on the club. They chose not to and that was purely and utterly their choice. Wow so it was a lot more debt than DK told us. So I guess we could of wasted a few seasons for us to then be where we are now? (But with even less momentum) |
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Post by bazbodenham on Sept 14, 2015 10:50:22 GMT
'That's all Folks'
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jc
Junior Member
Having a small psychotic episode - will be back yesterday, maybe!
Posts: 482
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Post by jc on Sept 14, 2015 10:51:19 GMT
Debt can form in various guises. DK was revealing the immediate and essential debt (debt needing to be settled to prevent the immediate winding up of the company). The figures posted at the time didnt, as far as I recall, include the contingent debt (debt not yet due for payment) and the running costs of the club.
So when DK let it be known he needed £300k that was what he needed to stop it immediately being wound up.
I think (although this may not be accurate), he needed another £300k to service the other debts plus another £300k for the ongoing debts to be incurred as the club continued. That's very close to the £1m quote by AL as being the total debt of the club.
I dont think the fans were truly in the picture at the time. This could well of been one of the reasons, the didnt really want HUST involved in looking at the books as I suspect they would easily have found out the truth of the matter.
ALL MY OWN PERSONAL OPINION OF COURSE
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Post by bullish on Sept 14, 2015 10:59:48 GMT
Debt can form in various guises. DK was revealing the immediate and essential debt (debt needing to be settled to prevent the immediate winding up of the company). The figures posted at the time didnt, as far as I recall, include the contingent debt (debt not yet due for payment) and the running costs of the club. So when DK let it be known he needed £300k that was what he needed to stop it immediately being wound up. I think (although this may not be accurate), he needed another £300k to service the other debts plus another £300k for the ongoing debts to be incurred as the club continued. That's very close to the £1m quote by AL as being the total debt of the club. I dont think the fans were truly in the picture at the time. This could well of been one of the reasons, the didnt really want HUST involved in looking at the books as I suspect they would easily have found out the truth of the matter. ALL MY OWN PERSONAL OPINION OF COURSE who was that debt to? how much of it could reasonably have been expected to be written off or paid at a penny to the pound via a CVA to friendly creditors? |
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