Anyone For Chinese?

[tidus_mi2]

So.

A charge was registered at Companies Hourse yesterday. Basically meaning that we've borrowed money from somebody and in return we've offered security on that debt (in the same way that you would offer your house as security on a mortgage).

The Charge document is between ourselves and a company called Great Shine International Limited, which is a company registered in Hong Kong, as a result meaning that very little other information is available about this company.....but, I'm sure I'm not alone in taking a wild stab at guessing who this company might belong to, and therefore who we have borrowed the money from.

So basically, they've lent us money to see us strengthen in this transfer window but if the deal collapses, they are just another stakeholder we owe money to?

In the end that isn't a horrible situation and if it does fall through, the Thais will probably just pursue alternative sources of investment, especially considering only Sasima seems to 100% want to jump ship.

[winchester_royal]

So.

A charge was registered at Companies Hourse yesterday. Basically meaning that we've borrowed money from somebody and in return we've offered security on that debt (in the same way that you would offer your house as security on a mortgage).

The Charge document is between ourselves and a company called Great Shine International Limited, which is a company registered in Hong Kong, as a result meaning that very little other information is available about this company.....but, I'm sure I'm not alone in taking a wild stab at guessing who this company might belong to, and therefore who we have borrowed the money from.

Further digging - the lawyer's who handled the charge documents, Walker Morris LLP, have the same address as Renhe Sports Management Co Ltd.

Who are Renhe Sports Management Co Ltd you ask? Well, they are a company who were set up in November 2016 and have 2 Directors registered on companies house.

Anybody like to guess who those two individuals are?

https://beta.companieshouse.gov.uk/company/10499642/officers

[genome]

It all went downhill for Lady Sasima after she tried performing her song in front of 4,000 Leeds fans.

[winchester_royal]

For the record - we borrowed £10.4m from them - you can put your life on the fact that was the hold up with the Ilori deal.

Where's the rest of the money going I wonder?

[The Informant]

This all stinks.

[LoyalRoyal22]

If they wanted, could they just walk away from the club & its debts & keep the land they transferred to another company?

I don't think so. They could try but there are laws that stop you doing that sort of thing (taking assets out of an insolvent company.) Otherwise everyone would be at it! I think in this case the transfer would be invalid if it wasn't at "market value". So if they subsequently made a fortune from the land there would be legal recourse from the club and the directors at the time would be prosecuted.

More likely is that the creditors would just seize the other company if the debt cannot be paid. The debt was secured on the clubs assets is probably secured on the shares in the other company.

I don't see the Thais would gain anything by that - so probably if they can't sell us they will just stop investing and that will force us to make huge cuts to the wage bill which would clearly endanger our place in the Championship.

The fact that they have signed McCleary and Ilori implies we are some way from that scenario. The Mail is clearly talking rubbish - no way would the fee for Illori be that high and transfer fees are not just paid in cash like that. Charles Watts stated confidently it was £500k per year for 4 years, which is a drop in the ocean compared to that debt!

Nice one.

[LoyalRoyal22]

For the record - we borrowed £10.4m from them - you can put your life on the fact that was the hold up with the Ilori deal.

Where's the rest of the money going I wonder?

Brilliant digging there

Looking at it positively in the short-term hopefully that is all for transfers (including Ilori deal)

Assuming it isn't all for transfers though, might signal cash flow problems? More debt accumulated by the club

Best case scenario: The Takeover is a foregone conclusion

[winchester_royal]

For the record - we borrowed £10.4m from them - you can put your life on the fact that was the hold up with the Ilori deal.

Where's the rest of the money going I wonder?

Brilliant digging there

Looking at it positively in the short-term hopefully that is all for transfers (including Ilori deal)

Assuming it isn't all for transfers though, might signal cash flow problems? More debt accumulated by the club

Best case scenario: The Takeover is a foregone conclusion

Just about every football club outside the prem will have cash flow issues - can't make £15m losses without having cash flow issues.

Normally you'd find the actual shareholders providing loans/capital investment but I think it's increasingly clear the Thais don't want to put anymore money in.

[Stranded]

For the record - we borrowed £10.4m from them - you can put your life on the fact that was the hold up with the Ilori deal.

Where's the rest of the money going I wonder?

Brilliant digging there

Looking at it positively in the short-term hopefully that is all for transfers (including Ilori deal)

Assuming it isn't all for transfers though, might signal cash flow problems? More debt accumulated by the club

Best case scenario: The Takeover is a foregone conclusion

One would hope that given that they have loaned the club money that have a decent level of confidence that the deal is going to move through.

[LoyalRoyal22]

For the record - we borrowed £10.4m from them - you can put your life on the fact that was the hold up with the Ilori deal.

Where's the rest of the money going I wonder?

Brilliant digging there

Looking at it positively in the short-term hopefully that is all for transfers (including Ilori deal)

Assuming it isn't all for transfers though, might signal cash flow problems? More debt accumulated by the club

Best case scenario: The Takeover is a foregone conclusion

Just about every football club outside the prem will have cash flow issues - can't make £15m losses without having cash flow issues.

Normally you'd find the actual shareholders providing loans/capital investment but I think it's increasingly clear the Thais don't want to put anymore money in.

Yeh. Anyway, well done for putting this all together. Interesting.

[winchester_royal]

Cheers, with the lack of a decent local journo atm we all have to pitch in

[Linden Jones' Tash]

Cheers, with the lack of a decent local journo atm we all have to pitch in

Countdown until your scoop is picked up by mainstream media....

Seriously, great work

Yay, I called it!

[Hound]

very interesting. good work

[LoyalRoyal22]

I think they lost a non-refundable deposit on the Hull takeover attempt

Hopefully at worst, this is a interest free loan

[CountryRoyal]

Good work WR.

[Ian Royal]

Cheers w_r. Good work.

[RoyalJM]

So.

A charge was registered at Companies Hourse yesterday. Basically meaning that we've borrowed money from somebody and in return we've offered security on that debt (in the same way that you would offer your house as security on a mortgage).

The Charge document is between ourselves and a company called Great Shine International Limited, which is a company registered in Hong Kong, as a result meaning that very little other information is available about this company.....but, I'm sure I'm not alone in taking a wild stab at guessing who this company might belong to, and therefore who we have borrowed the money from.

Further digging - the lawyer's who handled the charge documents, Walker Morris LLP, have the same address as Renhe Sports Management Co Ltd.

Who are Renhe Sports Management Co Ltd you ask? Well, they are a company who were set up in November 2016 and have 2 Directors registered on companies house.

Anybody like to guess who those two individuals are?

https://beta.companieshouse.gov.uk/company/10499642/officers

Walker Morris also advised the Thais when coming in to the club back in 2014 - https://www.walkermorris.co.uk/news/wal ... eading-fc/

[Hound]

that info again puts into context how dire that Mail article was. completely puts them to shame (if they had any)

[RoyalJM]

So.

A charge was registered at Companies Hourse yesterday. Basically meaning that we've borrowed money from somebody and in return we've offered security on that debt (in the same way that you would offer your house as security on a mortgage).

The Charge document is between ourselves and a company called Great Shine International Limited, which is a company registered in Hong Kong, as a result meaning that very little other information is available about this company.....but, I'm sure I'm not alone in taking a wild stab at guessing who this company might belong to, and therefore who we have borrowed the money from.

Further digging - the lawyer's who handled the charge documents, Walker Morris LLP, have the same address as Renhe Sports Management Co Ltd.

Who are Renhe Sports Management Co Ltd you ask? Well, they are a company who were set up in November 2016 and have 2 Directors registered on companies house.

Anybody like to guess who those two individuals are?

https://beta.companieshouse.gov.uk/company/10499642/officers

Walker Morris supposedly advised the Thais on getting in the club back in 2014 - https://www.walkermorris.co.uk/news/wal ... eading-fc/

[Sutekh]

After the Chinese failure to get Hull they would know what the issues were that caused them to be rejected and therefore presumably would not pitch the deal for Reading in the same way

Likewise the Thais should have done their homework to reassure themselves that the deal was not going to be set up/involve the same people that caused those issues so that they'd be confident of completing

So, logically, because of those issues previously the PL/FL are going through everything with a fine tooth comb and presumably lawyers and accountants are arguing the technicalities backwards and forwards.

We'll be lucky to get the final answer before Easter, let alone deadline day.