Members Questions Answered

quote:
Originally posted by Bridg4d_Pie_:
Good Morning Glen Rolley, Or is it?

My wife & I are fully paid up Trust Members, membership numbers 446 & 447,Questions have been posted on this Board for many weeks & answers have not been forth comming from the Trust Board that we as members empowered to serve us. I have some more questions for you on yet another Dark Day for the Football Club that we Love, I would appreciate an answer to these questions.

Correction, We Demand an answer to these questions, you presented your mandates & were elected to power on the strength of those mandates, now serve your membership as you undoubtably vowed too.

1) When Munto came into purchase the Club who amongst you carried out, or sort out Lawyers to carry out a Due Diiligence on Munto Finance, QuadBak & all the associated names involved with the group wishing to takeover our Club.Or did you as a Trust just presume you had enough information to allow them to walk in & take us as it now appears for "A Ride".

2) The reported £5 million that Munto were to have agreed to leave the Club should they depart before the five year project was completed. Who on the Trust Board was given the duty to ensure that this amount of money was placed in an account where we could draw on it should the project go upside down & Munto walk away as it has surely has done. Was this letter taken to the Trusts Legal Advisers or even presented to Supporters Direct for conformation of its Legality. I suspect not as you were all to busy patting each others backs & making sure that we as Trust Members voted for this take over, Alegedly. At least that is the impression I received.

3) Would it be asking too much for a statement of the Trusts Bank Account to be presented to its Membership, or are we not allowed as fully paid up members to view this document.The reason I ask is that it may just be that any monies in the Trust Account would be better used trying to settle this latest Winding Up Order that you as our Trust Board told us we would never ever have any more financial problems. Thanks Glen for all the good advice we all appreciated it.

I have some advice for our Trust Board. :-

You Can Take The Pith Out Of The People Some Of The Time.

But Not All The Time.

Every Thing Forward & Trust In The Lord.

P.S. We also have more questions appertaining to people who are no longer seen at Meadow Lane on Match Days & were prominent people alegedly at The Lane.

Good Morning once again Glen Rolley,

Twentyfour Hours have elapsed since I posted the above questions & still no reply to these questions. More importantly questions posted before these still remain unanswered.

If you are finding the questions on this Board to difficult to provide an answer to, just a simple acknowledgement that you have read & inwardly digested them would be welcome.

Every Thing Forward & Trust In The Lord.

Ignored post by Bridg4d_Pie_ posted

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REVELDROL

Apprentice

Location: Nottingham

Registered:: Sun 01 February 2004

Posts: 16

Posted

quote:
Given we (the Trust) own 60% of the club, what are we getting back in the way of guarantees for the future of the club once we gift the shares and write off the debts?

Answer: The Club/Blenheim 1862 Limited have an irrevocable guarantee from a Merchant Bank. But, it would be irresponsible to state anything other than it is for a substantial sum.

(Mr Armstrong-Jones(Ex Club Chairman and The Supporters Trust Board.)(10th.June 2009.
Don't you think that it is about time you gave all us Trusting Souls the details of this Guarantee ?As Mr.Tembling apparently will not.

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Bridg4d_Pie_

Prolific Goalscorer

Location: West Bridgford

Registered:: Mon 15 October 2007

Posts: 119

Posted

quote:
Originally posted by REVELDROL:
quote:
Given we (the Trust) own 60% of the club, what are we getting back in the way of guarantees for the future of the club once we gift the shares and write off the debts?

Answer: The Club/Blenheim 1862 Limited have an irrevocable guarantee from a Merchant Bank. But, it would be irresponsible to state anything other than it is for a substantial sum.

(Mr Armstrong-Jones(Ex Club Chairman and The Supporters Trust Board.)(10th.June 2009.
Don't you think that it is about time you gave all us Trusting Souls the details of this Guarantee ?As Mr.Tembling apparently will not.

It is of course very possible that Peter Trembling & Sven were also taken in by Munto Finance, receiving the same or similar Guarantees to those presented to the Trust & shown alegedly to John Mountney who was also in favour of the Munto takeover of The Club.

It would also appear that they like the Trust did not undertake a Due Dilligence on Munto either.

From the Trust Memberships point of view I think it is now more important that the Members are given the relevent information as to the Trust future as their subscriptions have been paid for what purpose, if not to become involved in the current situation in some capacity or other.

Or at the minimum acknowledge that Members questions have been read.

Every Thing Forward & Trust in The Lord.

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REVELDROL

Apprentice

Location: Nottingham

Registered:: Sun 01 February 2004

Posts: 16

Posted

Is it not possible that the LEGAL owners of Notts.County are still The Supporters Trust with a 60%+ shareholding.?
Munto never fulfilled their part of the contract and therefore were not in a position to sell the club as they were not the legal owners.
Are any of our members Genuine lawyers,able to check up on this ?

Everything Backward & Trust no-body's words (unless legally documented.).......I have yet to meet someone who has met "The Lord"

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bigapplepie

Professional
Picture of bigapplepie

Location: New York, NY USA

Registered:: Fri 11 April 2003

Posts: 36

Posted

quote:
Originally posted by REVELDROL:
quote:
Given we (the Trust) own 60% of the club, what are we getting back in the way of guarantees for the future of the club once we gift the shares and write off the debts?

Answer: The Club/Blenheim 1862 Limited have an irrevocable guarantee from a Merchant Bank. But, it would be irresponsible to state anything other than it is for a substantial sum.

(Mr Armstrong-Jones(Ex Club Chairman and The Supporters Trust Board.)(10th.June 2009.
Don't you think that it is about time you gave all us Trusting Souls the details of this Guarantee ?As Mr.Tembling apparently will not.

Matt Scott provided the details of the guarantee in an article on 27th November.

Article

Separately, doubts have also emerged about the terms of the £5m guarantee of funds that Munto Finance produced that persuaded the Notts County supporters trust to sign over control of the club for a nominal consideration of £1. That guarantee, produced in May of this year, came from a company belonging to First London, a financial services firm.

The letter of guarantee is drafted in an unconventional fashion and may not easily be enforceable. An expert in contract law has raised doubts about the document. A corporate law partner at Olswang said: "The letter of guarantee is quite imprecise and confusing. It refers to the guarantee being able to be invoked if Munto does not make "investments" in Blenheim 1862 [the club's holding company that was majority owned by the supporters' trust] but it does not define when and how such investments must be made.

"In addition the breadth of the wording regarding 'settlement means' would imply that Blenheim 1862 would have to seek final legal judgement against Munto before it could secure funds from First London. This is unusual.

"Also the Guarantee is addressed to Blenheim 1862 and not to the shareholders of Blenheim 1862. There is no third party rights provision that would enable the shareholders of Blenheim 1862 to enforce the terms of the Guarantee."

First London did not comment on those terms but said it is unlikely to be required to pay out, saying that Munto Finance has sufficient funds to meet its obligations. It stressed the guarantee is "not in any event triggered [without] a final Court Order on the relevant debt."

The First London balance sheet showed assets of £180m as at 31 March, but the latest accounts filed by the company also reveal that at that point First London held just £18,657 in cash and had only £1.3m available to it in undrawn borrowings. It is unclear what First London's equity assets include, but it enjoyed an impressive year to 31 March (see page 3).

First London says that the letter of guarantee to Blenheim 1862 was actually made by a Bahrain-domiciled subsidiary. This is not clear from the letter, however, which has a First London letterhead, its London address and is signed by a director of the UK company. As at 31 March, the only Bahrain-domiciled subsidiary of First London was recorded as dormant.

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REVELDROL

Apprentice

Location: Nottingham

Registered:: Sun 01 February 2004

Posts: 16

Posted

Surely it is about time that the Police Fraud Squad should be approached by the Supporters Trust.....before someone raises the debt to over the £5,000,000 mark.
I still believe that as Munto never honoured the terms of their contract with us,we the Supporters Trust,still own the club.....any debt incurred since the date ot Munto's "take over" is surely the responsibility of the people who incurred them,fraudulently.
I would be willing to serve on The Trust Committee,as any of you who profess to having any long term love of our club should.

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