' VINCENT TAN IS GUARANTOR AND PERSONALLY RESPONSIBLE '

' Vincent Tan is guarantor and personally responsible '

When the settlement was reached between Cardiff City Football Club and Langston on the long standing loan notes, Vincent Tan stood as guarantor of the debt in the event that Cardiff City Football Club could not fulfill its commitment to pay the debt or keep up with the scheduled repayments.

This is the reason that the writ, brought to the court by Lansgton, names Vincent Tan as ultimately responsible for the debt.

Even if Cardiff City FC no longer existed, whether it was wound up because of another debt (hope that is never the case) and not even because of Langston, the debt to Langston would still be pursued by them and they would chase Vincent Tan for the money owed as he is the guarantor and signed up to that.

The full unedited statement released to the press in April of 2015 explains that quite clearly :

Court proceedings have been issued against Vincent Tan to pay an amount of 5.75 million pounds plus interest. This amount is due to be paid by the Club and Mr. Tan legally and personally guaranteed payment in the event of non-payment by the Club. This amount is the balance due under the Settlement Agreement with Langston as unfortunately Mr. Tan and the Club are now in default with the legally agreed payments.

Legally the demand is from both the Club and Mr. Tan but it is for Mr. Tan to honour the guarantee he has given or to use his resources to allow the Club to pay its debts. It is to be hoped that Mr. Tan recognises and executes his legal responsibilities and in so doing, avoids the Club itself being dragged into the legal proceedings.


Another point I would like to make is that Langston are seeking a summary judgement from the High Court, Langston are not looking to put the club into administration.

As we have seen on previous occasions with other creditors that the club has defaulted with on its payments with, a number of those creditors went for a winding up petition or order to force the club into payment or wind up the company, ie. HMRC had a winding up order against the club and Shine Foods Catering had a winding up petition for non payment, had the club not settled the debts then the club would have likely been wound up.

It is my opinion, despite scaremongering from the club through the media, that administration is not an angle nor is it even likely to happen, Langston is not looking for the club to go into administration but rather seeking a judge to rule to the club that payment is required and the debt should be paid.

Vincent Tan signed up as guarantor and personally accepted responsibility and because of the non payment, Langston are seeking £5.75m plus interest on the payments they would have received in the meantime of the non payments and also default penalties have been added, the total amount is approximately £6.8m.

Carl

Firstly , I should state that I firmly believe that the debt to Langston is fully payable and should be paid by the club.

What I can`t see is how Sam Hammam will enforce payment of the debt even if the court rules in his favour. All that does is prove that the money is due to Langston. I think Tan will still refuse to authorise payment and Sam will then be forced to take further legal action such as an application for an Administration Order or a winding up petition against the club if he wants to see any cash back. This puts him in a vulnerable position having said that he wouldn`t do this , even though he has no option other than proving his case in court then still not seeing any money.
A personal claim against Vincent Tan gets him nowhere either as again VT will not pay up under the guarantee. Sam would then have to go against him personally . Good luck to him with that against a Malaysian national in a Malaysian court run by people appointed by Tan`s mates in government there.

Good point.

Wouldn't Tan fail the fit and proper persons test if he was to default on such a huge debut? We know for sure there is one UK asset Cardiff City FC I don't know if VT has other UK investments which could be targeted. Pursuing him through the Malaysia Courts would be problematic.

Who released that statement in April 2015?

Thanks

Keith, Correct it is fully payable and should be paid as it was signed for and looked over by Tan and agreed after a £1mill was spent trying to find if there was anything fraudulent.

That is how business is down in the UK

Keith, Correct it is fully payable and should be paid as it was signed for and looked over by Tan and agreed after a £1mill was spent trying to find if there was anything fraudulent.

That is how business is down in the UK

But the point I was raising was a sort of "so what".

If Sam wins the court case , which I believe he will if it gets that far with delaying tactics , appeals etc. , I still do not believe the club/Vincent Tan will pay him. So what does he do then?

If he tries enforcing the debt by applying for an Administration Order or winding up petition , he will be made out to be the "big bad wolf" for threatening the existence of the club. If he tries recovering money from Vincent Tan personally good luck to him on that as VT will have more friends in the Malaysian court system where he would have to pursue him than Sam does.

I just can`t see any good coming out of this , only damage to the club and its finances and it will just end up like a junior school playground argument with both sides using whatever means they can to show the other in a bad light.

Keith, Correct it is fully payable and should be paid as it was signed for and looked over by Tan and agreed after a £1mill was spent trying to find if there was anything fraudulent.

That is how business is down in the UK

But the point I was raising was a sort of "so what".

If Sam wins the court case , which I believe he will if it gets that far with delaying tactics , appeals etc. , I still do not believe the club/Vincent Tan will pay him. So what does he do then?

If he tries enforcing the debt by applying for an Administration Order or winding up petition , he will be made out to be the "big bad wolf" for threatening the existence of the club. If he tries recovering money from Vincent Tan personally good luck to him on that as VT will have more friends in the Malaysian court system where he would have to pursue him than Sam does.

I just can`t see any good coming out of this , only damage to the club and its finances and it will just end up like a junior school playground argument with both sides using whatever means they can to show the other in a bad light.

So the question is, Keith what would you do if you were in Sams position at this current moment?

Keith, Correct it is fully payable and should be paid as it was signed for and looked over by Tan and agreed after a £1mill was spent trying to find if there was anything fraudulent.

That is how business is down in the UK

But the point I was raising was a sort of "so what".

If Sam wins the court case , which I believe he will if it gets that far with delaying tactics , appeals etc. , I still do not believe the club/Vincent Tan will pay him. So what does he do then?

If he tries enforcing the debt by applying for an Administration Order or winding up petition , he will be made out to be the "big bad wolf" for threatening the existence of the club. If he tries recovering money from Vincent Tan personally good luck to him on that as VT will have more friends in the Malaysian court system where he would have to pursue him than Sam does.

I just can`t see any good coming out of this , only damage to the club and its finances and it will just end up like a junior school playground argument with both sides using whatever means they can to show the other in a bad light.

So the question is, Keith what would you do if you were in Sams position at this current moment?

Take a reduced settlement

Keith, Correct it is fully payable and should be paid as it was signed for and looked over by Tan and agreed after a £1mill was spent trying to find if there was anything fraudulent.

That is how business is down in the UK

But the point I was raising was a sort of "so what".

If Sam wins the court case , which I believe he will if it gets that far with delaying tactics , appeals etc. , I still do not believe the club/Vincent Tan will pay him. So what does he do then?

If he tries enforcing the debt by applying for an Administration Order or winding up petition , he will be made out to be the "big bad wolf" for threatening the existence of the club. If he tries recovering money from Vincent Tan personally good luck to him on that as VT will have more friends in the Malaysian court system where he would have to pursue him than Sam does.

I just can`t see any good coming out of this , only damage to the club and its finances and it will just end up like a junior school playground argument with both sides using whatever means they can to show the other in a bad light.

So the question is, Keith what would you do if you were in Sams position at this current moment?

I think he has little option but to pursue the court case , just to prove publicly that he is right in his claim that the club owe the money to Langston (whoever they are) providing he accepts and is comfortable with the fact that the exact ownership of Langston is highly likely to be disclosed in the court proceedings.

After that , the reality remains that the matter will be settled out of court at a sum somewhere between zero and the full amount being claimed and that the cash may be some time in being paid as Tan uses ongoing delaying tactics.

Keith, Correct it is fully payable and should be paid as it was signed for and looked over by Tan and agreed after a £1mill was spent trying to find if there was anything fraudulent.

That is how business is down in the UK

But the point I was raising was a sort of "so what".

If Sam wins the court case , which I believe he will if it gets that far with delaying tactics , appeals etc. , I still do not believe the club/Vincent Tan will pay him. So what does he do then?

If he tries enforcing the debt by applying for an Administration Order or winding up petition , he will be made out to be the "big bad wolf" for threatening the existence of the club. If he tries recovering money from Vincent Tan personally good luck to him on that as VT will have more friends in the Malaysian court system where he would have to pursue him than Sam does.

I just can`t see any good coming out of this , only damage to the club and its finances and it will just end up like a junior school playground argument with both sides using whatever means they can to show the other in a bad light.

So the question is, Keith what would you do if you were in Sams position at this current moment?

I think he has little option but to pursue the court case , just to prove publicly that he is right in his claim that the club owe the money to Langston (whoever they are) providing he accepts and is comfortable with the fact that the exact ownership of Langston is highly likely to be disclosed in the court proceedings.

After that , the reality remains that the matter will be settled out of court at a sum somewhere between zero and the full amount being claimed and that the cash may be some time in being paid as Tan uses ongoing delaying tactics.

My feelings, Tan will try and settle as long he's not made to looker the loser.

Keith, Correct it is fully payable and should be paid as it was signed for and looked over by Tan and agreed after a £1mill was spent trying to find if there was anything fraudulent.

That is how business is down in the UK

But the point I was raising was a sort of "so what".

If Sam wins the court case , which I believe he will if it gets that far with delaying tactics , appeals etc. , I still do not believe the club/Vincent Tan will pay him. So what does he do then?

If he tries enforcing the debt by applying for an Administration Order or winding up petition , he will be made out to be the "big bad wolf" for threatening the existence of the club. If he tries recovering money from Vincent Tan personally good luck to him on that as VT will have more friends in the Malaysian court system where he would have to pursue him than Sam does.

I just can`t see any good coming out of this , only damage to the club and its finances and it will just end up like a junior school playground argument with both sides using whatever means they can to show the other in a bad light.

So the question is, Keith what would you do if you were in Sams position at this current moment?

I think he has little option but to pursue the court case , just to prove publicly that he is right in his claim that the club owe the money to Langston (whoever they are) providing he accepts and is comfortable with the fact that the exact ownership of Langston is highly likely to be disclosed in the court proceedings.

After that , the reality remains that the matter will be settled out of court at a sum somewhere between zero and the full amount being claimed and that the cash may be some time in being paid as Tan uses ongoing delaying tactics.

Why do you think that tan left it until now to stop making the repayments? Couldn't he have taken this course of action originally instead of paying the majority of the debt? Surely it has something to do with his apparent lack of interest in the club.

As city fans we've been through a lot of turmoil for years and we just don't deserve it.
I would like a debt free club as promised but that just doesn't seem to be happening does it lots of people to blame including our current owner.
Will he ever meet his promise and pay the debt off is the question but the longer time goes on the less likely it seems.

But we do deserve it. I am talking now about the fans that have sought to piss Tan off. And they have clearly succeeded. But at what cost ?

He is the owner nothing should stand in the way of that but lets be honest here for me alone he pissed me off with the red rebrand like I say his actions will be judged and I'm still waiting on debt to equity have been for years the rebrand was a shambles lets not get into that we all no what that's caused.
So for me its not about me or others pissing tan off Hess pissed us off big time .
False promises

As city fans we've been through a lot of turmoil for years and we just don't deserve it.
I would like a debt free club as promised but that just doesn't seem to be happening does it lots of people to blame including our current owner.
Will he ever meet his promise and pay the debt off is the question but the longer time goes on the less likely it seems.

But we do deserve it. I am talking now about the fans that have sought to piss Tan off. And they have clearly succeeded. But at what cost ?

He is the owner nothing should stand in the way of that but lets be honest here for me alone he pissed me off with the red rebrand like I say his actions will be judged and I'm still waiting on debt to equity have been for years the rebrand was a shambles lets not get into that we all no what that's caused.
So for me its not about me or others pissing tan off Hess pissed us off big time .
False promises

As far as the likes of langley are concerned, tan can do no wrong. Everything that has been royally f.cked up at the club over the last four or so years is always someone else's fault, the managers, the coaches, the other board members, the media, even the fans, it's always everyone else's felt but tans.

I am NOT hurt by whatever Mr Tan has done Annis??? Who are the crybabies that stay away?? Why...because of an owner??
You/we have got our blue shirt back, now better than ever. So who are these so called Cardiff City fans?? forty something moaners..boring.....WE HAVE REGAINED OUR IDENTITY!!!!

YES Mr Tan has made some stupid mistakes, I agree. BUT you hate this man soooo much, you blame him for everything, you go on and on about him, this takes the energy out of the club. Kids read the forum. How about starting fresh, enjoy the ride, this is Cardiff City, this is what we have ALWAYS DONE.

Please Annis, you are leaving soon, please think about how the kids reading these posts won't love this club in the future.

You have served your club faithfully over the years and you have done very well with fans liking you.

Vincent Tan should be the least of your worries Annis, you will be enjoying your new life in Spain, watching footie in the sun.

City til I die!!!!

Oh yeah Annis, how about concentrating your negative energy...on getting rid of SLADE???!!! Then I would respect you, but who am I...just a CCFC fan lol

I am NOT hurt by whatever Mr Tan has done Annis??? Who are the crybabies that stay away?? Why...because of an owner??
You/we have got our blue shirt back, now better than ever. So who are these so called Cardiff City fans?? forty something moaners..boring.....WE HAVE REGAINED OUR IDENTITY!!!!

YES Mr Tan has made some stupid mistakes, I agree. BUT you hate this man soooo much, you blame him for everything, you go on and on about him, this takes the energy out of the club. Kids read the forum. How about starting fresh, enjoy the ride, this is Cardiff City, this is what we have ALWAYS DONE.

Please Annis, you are leaving soon, please think about how the kids reading these posts won't love this club in the future.

You have served your club faithfully over the years and you have done very well with fans liking you.

Vincent Tan should be the least of your worries Annis, you will be enjoying your new life in Spain, watching footie in the sun.

City til I die!!!!

Oh yeah Annis, how about concentrating your negative energy...on getting rid of SLADE???!!! Then I would respect you, but who am I...just a CCFC fan lol

:lol:

I am NOT hurt by whatever Mr Tan has done Annis??? Who are the crybabies that stay away?? Why...because of an owner??
You/we have got our blue shirt back, now better than ever. So who are these so called Cardiff City fans?? forty something moaners..boring.....WE HAVE REGAINED OUR IDENTITY!!!!

YES Mr Tan has made some stupid mistakes, I agree. BUT you hate this man soooo much, you blame him for everything, you go on and on about him, this takes the energy out of the club. Kids read the forum. How about starting fresh, enjoy the ride, this is Cardiff City, this is what we have ALWAYS DONE.

Please Annis, you are leaving soon, please think about how the kids reading these posts won't love this club in the future.

You have served your club faithfully over the years and you have done very well with fans liking you.

Vincent Tan should be the least of your worries Annis, you will be enjoying your new life in Spain, watching footie in the sun.

City til I die!!!!

Oh yeah Annis, how about concentrating your negative energy...on getting rid of SLADE???!!! Then I would respect you, but who am I...just a CCFC fan lol

:lol:

I laughed when I read that aswell. I know a hell of a lot from the llanrumney area who don't go any longer, and it all stems from the rebrand, that killed our club. Yes we have our colours back but this wound runs deep.
And slade doesn't help appointed by you know who.

I am NOT hurt by whatever Mr Tan has done Annis??? Who are the crybabies that stay away?? Why...because of an owner??
You/we have got our blue shirt back, now better than ever. So who are these so called Cardiff City fans?? forty something moaners..boring.....WE HAVE REGAINED OUR IDENTITY!!!!

YES Mr Tan has made some stupid mistakes, I agree. BUT you hate this man soooo much, you blame him for everything, you go on and on about him, this takes the energy out of the club. Kids read the forum. How about starting fresh, enjoy the ride, this is Cardiff City, this is what we have ALWAYS DONE.

Please Annis, you are leaving soon, please think about how the kids reading these posts won't love this club in the future.

You have served your club faithfully over the years and you have done very well with fans liking you.

Vincent Tan should be the least of your worries Annis, you will be enjoying your new life in Spain, watching footie in the sun.

City til I die!!!!

Oh yeah Annis, how about concentrating your negative energy...on getting rid of SLADE???!!! Then I would respect you, but who am I...just a CCFC fan lol

Identity back? Are you having a laugh? Past supporters may feel they don't identify with the club. Do you blame them?

I'm not sure if this is just a wind-up. Saying that energy should be directed against Slade is the same thing as Tan. Tan appointed him and has pulled all the strings.

The fact anyone is moving away is irrelevant. The point is that people who live next to the stadium don't go.