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Post by northwestman on Dec 19, 2018 20:47:37 GMT 1
Unsecured creditors don't seem to have done too well after they've dealt with some of Mr Dale's Companies.
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Post by staffordshrew on Dec 19, 2018 22:48:09 GMT 1
Unsecured creditors don't seem to have done too well after they've dealt with some of Mr Dale's Companies. Unsecured creditors know the risks, never trust anyone with money you definately want to get back
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Post by northwestman on Dec 21, 2018 10:01:07 GMT 1
Interesting development. www.gigglane.com/index.php?/topic/32867-looks-like-mr-dale-has-been-dipping-into-his-pockets/The value of these shares is £12,984,957! Can someone on here please explain how 'capitalisation of debt' works? This is maybe what has happened. As far as I can gather, debt capitalisation is the process whereby the consideration for shares issued by a Company takes the form of a discharge of an existing debt. In which case I can only assume that these shares have been allocated to the former Chairman Day, his Companies, and other creditors, which seems to be like the shuffling of the deckchairs on the Titanic. But I'm no accountant!
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Post by Mr Brightside on Dec 21, 2018 14:21:36 GMT 1
"the new owner lives in Prestbury, he is only apparently renting the property, allegedly from one of the Premier League footballers who lives there." Just lazily curious, but Rooney used to have a big old house in Prestbury (with a Liver bird wind vane) - wonder if he still owns it but rents it out whilst he's in the US?
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Post by The Shropshire Tenor on Dec 21, 2018 20:38:00 GMT 1
A couple of weeks ago the Old Market Tavern, a amuch loved real ale and live music pub in Altrincham was suddenly shut down.
Earlier this week it reopened so I went for a lunchtime pint, the place was basically stripped out but thankfully the bar and pumps were still in situ.
The barman explained that the previous owner had accepted an offer of £1 million for the building without telling staff or customers and had immediately closed the place leaving people who had booked and pad deposits for Christmas meals in the lurch. On top of this he had stripped out furniture and fittings, including the kitchen and even pulled the hand driers off the toilet walls. “He did it out of spite”, to quote the barman.
”Next we heard he’d bought Bury football club”.
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Post by northwestman on Dec 21, 2018 21:45:50 GMT 1
A couple of weeks ago the Old Market Tavern, a amuch loved real ale and live music pub in Altrincham was suddenly shut down. Earlier this week it reopened so I went for a lunchtime pint, the place was basically stripped out but thankfully the bar and pumps were still in situ. The barman explained that the previous owner had accepted an offer of £1 million for the building without telling staff or customers and had immediately closed the place leaving people who had booked and pad deposits for Christmas meals in the lurch. On top of this he had stripped out furniture and fittings, including the kitchen and even pulled the hand driers off the toilet walls. “He did it out of spite”, to quote the barman. ”Next we heard he’d bought Bury football club”. Indeed so. beta.companieshouse.gov.uk/company/09977361altrincham.today/2018/11/21/news/regulars-absolutely-heartbroken-old-market-tavern-sold-set-close-next-week/
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Post by northwestman on Dec 27, 2018 14:46:03 GMT 1
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Post by northwestman on Dec 28, 2018 13:33:36 GMT 1
They can probably look forward to supporting Bury FC (2019) or something in the future then and sharing a ground whilst theirs gets built on. Not every club has a Northwestman "Watchdog". There must be some link between Day and Dale, but as yet I haven't found it. They are both in the building, hire and leasing business, and both have a questionable record at Companies House I think that I may have found the link - Glenn Thomas, the present Bury Vice Chairman. Thomas has already worked with Day at Bury FC and is a mutual acquaintance of both Dale and the other Director Matt McCarthy, which allegedly is how Dale became interested in Bury. Dale has stated on a Club video that it was Thomas who persuaded him to take over at the Club. Thomas is at present a Director of 11 Companies, 7 of which have outstanding charges on them. Day was appointed a Director of Rainbow Homes Ltd on 5th March 2018, having already resigned from the Company on 1st February 2016, to be replaced by Thomas. Rainbow Homes is involved in the construction of domestic buildings. Day and Thomas are both currently Directors of Rainbow Homes, and have been Directors of the same Companies in the past too.
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Post by staffordshrew on Dec 28, 2018 13:58:54 GMT 1
Is Rainbow Homes Ltd fronted by Zippy and Bungle? Something tells me I would be wary of buying one of their 'domestic buildings'.
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Post by northwestman on Dec 28, 2018 16:53:49 GMT 1
Something tells me that this has something to do with Carrington, where Dale is claiming that he has already extended the 5 year lease from Manchester City to 99 years and is talking about building on the site.
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