The Fish 10963 Posted June 8, 2009 Share Posted June 8, 2009 (edited) Sorted out their new owner. Did it quickly. Did it without making themselves a laughing stock Edited June 8, 2009 by The Fish Link to comment Share on other sites More sharing options...
NJS 4411 Posted June 8, 2009 Share Posted June 8, 2009 Dodgy as fuck - the people he owes money to have "bought" it when all their banks should be concentrating on paying back creditors from last year. I suppose the equivalent would be Ashley selling us to Kemsley. Link to comment Share on other sites More sharing options...
Matt 0 Posted June 8, 2009 Share Posted June 8, 2009 They've effectively been seized by their bank. Not sure that's worthy of any great envy. Link to comment Share on other sites More sharing options...
Fop 1 Posted June 8, 2009 Share Posted June 8, 2009 They've effectively been seized by their bank. Not sure that's worthy of any great envy. You'd think so, but..... Link to comment Share on other sites More sharing options...
ChezGiven 0 Posted June 8, 2009 Share Posted June 8, 2009 Sorted out their new owner.Did it quickly. Did it without making themselves a laughing stock Moron. Link to comment Share on other sites More sharing options...
The Fish 10963 Posted June 8, 2009 Author Share Posted June 8, 2009 tongue was in cheek, didn't think it needed a smiley. mongalong Link to comment Share on other sites More sharing options...
sniffer 0 Posted June 8, 2009 Share Posted June 8, 2009 Trying to dig yourself out from a pretty stupid comment. Link to comment Share on other sites More sharing options...
The Fish 10963 Posted June 8, 2009 Author Share Posted June 8, 2009 Aye ok Link to comment Share on other sites More sharing options...
Jimbo 175 Posted June 8, 2009 Share Posted June 8, 2009 Seems like a repossession rather than a sale. Link to comment Share on other sites More sharing options...
JonGoodwyn 1 Posted June 8, 2009 Share Posted June 8, 2009 Seems like a repossession rather than a sale. Aye, according to SSN today was the last day anyone could buy them, else they went into administration - so they had little choice. Link to comment Share on other sites More sharing options...
Craig 6700 Posted June 8, 2009 Share Posted June 8, 2009 Fucking hell Fish, you've excelled at mongness way beyond your own level on this one... Link to comment Share on other sites More sharing options...
Sonatine 11542 Posted June 9, 2009 Share Posted June 9, 2009 West Ham's new owners face bankruptcy • Bankruptcy proceedings could start in 72 hours • Thursday deadline for six-month moratorium with creditors West Ham United's new owners may be forced into bankruptcy proceedings within 72 hours, casting doubt on assurances that it has brought stability to Upton Park. CB Holding, a special-purpose vehicle whose 70% shareholder is the stricken Icelandic investment bank Straumur, took control of the Premier League club on Monday. Straumur said the move, first revealed by this column in April, was necessary because a moratorium – a suspension of payments to creditors – granted to the club's former owner Bjorgolfur Gudmundsson's investment company, Hansa, was due to expire on Tuesday. In the event that Hansa had, as expected, been declared bankrupt West Ham would have been liable to Premier League sanctions. However, Straumur, which is effectively bust, has a similar moratorium over its own liabilities and must apply on Thursday to the District Court of Reykjavik for a six-month extension to that agreement. In a presentation made to creditors last Friday Straumur executives said: "The moratorium provides a 'standstill' period during which Straumur can pursue a restructuring of its financial position. Unless Straumur successfully petitions the court for an extension, the moratorium will end on 11 June 2009. As stated above, Straumur intends to apply for a six-month extension of its moratorium." Even if the Reykjavik court is persuaded the moratorium should be extended, Straumur must convince creditors its plans for West Ham and its other managed assets are acceptable. The transformation of the collapsed investment bank into an asset-management company is said to be a fait accompli by Straumur's spin doctors in Iceland and London. But it depends on a "composition agreement" under which creditors accept a fixed sum. A meeting at which creditors may present their claims against Straumur is set for 6 August. If agreement cannot be reached, the outlook for West Ham's new owner is stark – a winding-up committee, made up of three attorneys of Iceland's supreme court and independent of the Straumur executive, would be called into action. "If composition proceedings are rejected, or the attempt to seek a composition is unsuccessful, the winding-up committee will request that the district court place Straumur's estate in bankruptcy proceedings," said the presentation to creditors. "A liquidator would then be appointed by the district court." Straumur's confidential statements to its creditors on Friday would seem to be at odds with claims it made in public yesterday. "CB Holding fully supports the executive management of the club and acknowledges the considerable progress achieved this season both by Scott Duxbury, chief executive of West Ham, and the club's manager, Gianfranco Zola," said a statement. "CB Holding has no intention of changing the executive management or direction of the club." If Straumur fails to reach agreement with creditors or to persuade the courts to extend the moratorium, it will present a severe test for the Premier League's rules governing fit and proper persons. Under those regulations directors and significant shareholders cannot have been made bankrupt. They are currently designed for individuals but, in the event that a club's controlling shareholder is a bankrupt company, the league's board would examine it. The league confirmed it has asked West Ham to provide documentation. "We have asked West Ham to produce details of the change of ownership," said a spokesman. "Once we have that information we will assess it and, if needs be, act accordingly." Even if Straumur's plans pass muster with the courts, creditors and league, there will be no return to the liberal spending of Gudmundsson. According to its presentation to creditors Straumur will now rely on "the establishment of a new and simplified business model appropriate to the reduced activities and scale of Straumur's operations as an asset management business". Link to comment Share on other sites More sharing options...
Toonpack 9936 Posted June 9, 2009 Share Posted June 9, 2009 Old Owner "I'm going bust" New Owner "We're going bust and you owe us shedloads of cash" Old Owner "I'll give you West Ham as a payment off my debt" New Owner "OK, at least we've now got some assetts we can bargain with" Link to comment Share on other sites More sharing options...
NJS 4411 Posted June 9, 2009 Share Posted June 9, 2009 As I said - dodgy as fuck - wonder if the PL will be eager to get it right after failing to deal with West Ham over Tevez? Link to comment Share on other sites More sharing options...
The Fish 10963 Posted June 9, 2009 Author Share Posted June 9, 2009 Fucking hell Fish, you've excelled at mongness way beyond your own level on this one... predictable? Link to comment Share on other sites More sharing options...
Guest Stevie Posted June 9, 2009 Share Posted June 9, 2009 (edited) The Fish you're just making it worse for yourself, "tongue in cheek" aye right oh. Craig was right, this is the single most dense thing anyone will see on this board, yet still you act defensive and won't acknowledge what a fuckwit you've been. Says a lot about your character. Edited June 9, 2009 by Stevie Link to comment Share on other sites More sharing options...
The Fish 10963 Posted June 9, 2009 Author Share Posted June 9, 2009 denser than stropping off like a girl, then meekly coming back, rambling on about attendances all the time, when no-one cares, voting for the BNP or leaping onto any chance to have sly digs at people because of random geogrpahic chance? aye right Stevie. Link to comment Share on other sites More sharing options...
Guest Stevie Posted June 9, 2009 Share Posted June 9, 2009 denser than stropping off like a girl, then meekly coming back, rambling on about attendances all the time, when no-one cares, voting for the BNP or leaping onto any chance to have sly digs at people because of random geogrpahic chance? aye right Stevie. You're defensive because you're a total fud, the issue isn't about me, it's about what a dense cunt you are, why don't you accept it and move on? You are the subject at hand not me, you have been dense beyond belief yet try to fob it off as something it wasn't, i.e tongue in cheek. If you had've said that was a major faux pas by me, I would've thought this kid isn't such a nob after all, but predictably nar, snapping at Craig, at Chez, making yourself look a cunt. You have the humility of Don King. Link to comment Share on other sites More sharing options...
Park Life 71 Posted June 9, 2009 Share Posted June 9, 2009 Ha ha Fish has had his chips in this thread. Link to comment Share on other sites More sharing options...
Guest Stevie Posted June 9, 2009 Share Posted June 9, 2009 Ha ha Fish has had his chips in this thread. This is the only chips associated with him, Mr Chips. Link to comment Share on other sites More sharing options...
The Fish 10963 Posted June 9, 2009 Author Share Posted June 9, 2009 I was just proving your statement to be nothing but hyperbole. Your retort smacks more of a defensive stance than anything I've posted. "snapping"? you're the only person who seems to care about this Stevie. Even the ones I've "snapped" at don't care. More importanttly, I don't care. I opsted this as a tongue in cheek comment on the mess we're in, at worst it was a crap joke... which I'm happy to admit, but to drag on about something as trivial as this just shows you up Stevie. I think my record will show I don't mind admitting that I don't know, or that I am wrong, so why would I shirk it this time? Link to comment Share on other sites More sharing options...
Guest Stevie Posted June 9, 2009 Share Posted June 9, 2009 (edited) I was just proving your statement to be nothing but hyperbole. Your retort smacks more of a defensive stance than anything I've posted. "snapping"? you're the only person who seems to care about this Stevie. Even the ones I've "snapped" at don't care. More importanttly, I don't care. I opsted this as a tongue in cheek comment on the mess we're in, at worst it was a crap joke... which I'm happy to admit, but to drag on about something as trivial as this just shows you up Stevie. I think my record will show I don't mind admitting that I don't know, or that I am wrong, so why would I shirk it this time? Because you're a proven beyond doubt, fully paid up member of the cunt society? Why say it was a crap joke. For starters you don't tell jokes, you read the article misinterpreted it, and ended up looking a fool, why not just admit it? Edited June 9, 2009 by Stevie Link to comment Share on other sites More sharing options...
The Fish 10963 Posted June 9, 2009 Author Share Posted June 9, 2009 Positively frothing Link to comment Share on other sites More sharing options...
Guest Stevie Posted June 9, 2009 Share Posted June 9, 2009 Positively frothing Frothing ChezGiven made you look a cunt Craig made you look a cunt I've made you look a cunt It can all be redeemed if you had an ounce of humility or decency about you. This however illustrates why you're an arsehole as a human being, something very simple and as insignificant as this, yet you can't admit the truth. Like I say there's nothing more I can say apart from oh dear. Link to comment Share on other sites More sharing options...
tinofbeans 91 Posted June 9, 2009 Share Posted June 9, 2009 Stevie has a point fish. you excel at mugging yourself off at the first opportunity. sometimes. Link to comment Share on other sites More sharing options...
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