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Dundee FC; Melville wants out!
Topic Started: Sep 20 2010, 10:49 AM (6,029 Views)
whatsthatonyourback
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Waldo Jeffers
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The Eggman
Sep 29 2010, 03:39 PM
So if they don't own the ground, how much do they pay to rent it, and how much money can they be making from home games?

How about I just e-mail you the BS & P&L, Mr Questions?
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The Eggman
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Tommy McLean
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whatsthatonyourback
Sep 29 2010, 03:49 PM
The Eggman
Sep 29 2010, 03:39 PM
So if they don't own the ground, how much do they pay to rent it, and how much money can they be making from home games?

How about I just e-mail you the BS & P&L, Mr Questions?

Sure. Or you could just tell me in a concise fashion :banshk:
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whatsthatonyourback
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Waldo Jeffers
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The Eggman
Sep 29 2010, 03:57 PM
whatsthatonyourback
Sep 29 2010, 03:49 PM
The Eggman
Sep 29 2010, 03:39 PM
So if they don't own the ground, how much do they pay to rent it, and how much money can they be making from home games?

How about I just e-mail you the BS & P&L, Mr Questions?

Sure. Or you could just tell me in a concise fashion :banshk:

PM me your e-mail address.
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Setenza
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Knitting with only one needle
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whatsthatonyourback
Sep 29 2010, 03:33 PM
I can't see them going into administration, as this would need to be instigated by creditors who cumulatively have 75% of DFC's outstanding debt. The three directors of the company - Bennett, Melville and Brannan would have the requisite 75%, so they could force administration, but as directors they could also be charged with running the business while knowingly insolvent and get put in jail.

Even if they can't argue against it, is that a jailable offence though? I thought it was one of the banned from being a director and a £1000 fine kind of thing. Which might be more doable.

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whatsthatonyourback
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Waldo Jeffers
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Oh yes. Trading when knowingly insolvent - go to jail.
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Naebody
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Twat
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whatsthatonyourback
Sep 29 2010, 11:36 PM
Oh yes. Trading when knowingly insolvent - go to jail.

Hence the importance of the aforementioned "going concern" disclaimer in the accounts. If it's not there, that'll make life doubly difficult.
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whatsthatonyourback
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Waldo Jeffers
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Naebody
Sep 30 2010, 01:09 PM
whatsthatonyourback
Sep 29 2010, 11:36 PM
Oh yes. Trading when knowingly insolvent - go to jail.

Hence the importance of the aforementioned "going concern" disclaimer in the accounts. If it's not there, that'll make life doubly difficult.

Bearing in mind that the latest accounts are from mid-'09, this might not have been quite the problem it is now. I'd imagine the accounts for '10 should have some such proviso.

However, it seems to me that Melville hasn't been too involved in the running of the club, and since he came on board the people running the club stopped running it, figuring they'd got a multi-millionaire on board so y'know, why bother. Calum will just throw money at anything that needs to be fixed, rather than us having to do any work. Or thinking. Pass the champagne, Rab.
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whatsthatonyourback
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Waldo Jeffers
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Oh, and apparently they've stopped paying their players now.
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Art Vandelay
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the king of carrot flowers
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whatsthatonyourback
Sep 30 2010, 01:17 PM
Oh, and apparently they've stopped paying their players now.

Bearing in mind how they've played in recent weeks, that's probably fair enough. :ph43r:
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Ivan
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F*cking plebs.
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Before we all get ahead of ourselves, Dundee would have to go into liquidation before a wrongful trading (trading while knowingly insolvent) charge could be brought. We don't expect Dundee to be liquidated so it's a bit of a red herring.
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Micky
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Ah, the Dens Park soap opera goes on... :ban: :banjmp: :banshk: :lager:
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whatsthatonyourback
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Waldo Jeffers
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Ivan
Sep 30 2010, 01:36 PM
Before we all get ahead of ourselves, Dundee would have to go into liquidation before a wrongful trading (trading while knowingly insolvent) charge could be brought. We don't expect Dundee to be liquidated so it's a bit of a red herring.

Couldn't you have spoken up sooner so I didn't make an arse of myself?

Ah, I see.
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Art Vandelay
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the king of carrot flowers
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Ivan
Sep 30 2010, 01:36 PM
Before we all get ahead of ourselves, Dundee would have to go into liquidation before a wrongful trading (trading while knowingly insolvent) charge could be brought. We don't expect Dundee to be liquidated so it's a bit of a red herring.

You're no fun any more.
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The Eggman
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Tommy McLean
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They've still not paid the players' wages.
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Setenza
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Knitting with only one needle
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Administration 99% certain now says Spence.

BBC
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