" LANGSTON LOAN NOTES "

Well according to thelonegunmanwatcher there's a meeting in two weeks. Any truth in that?

Carl,
Sorry if I'm being thick here but from what you've described:

Loan Note 2 = £15m plus £9m (to come from naming rights only - i.e may never have to be paid).

Loan Note 3 = £20m (including bonusses) reduced to £15m if paid by Dec 2010

Either way, both loan notes equate to £15m, the only difference being that loan note 2 doesn't have such a tight deadline.

As I said, I may be missing something obvious, but give me the choice of paying someone back £15m next year (after I might have shedloads of sky and various sponsorship money to pay it back with) or now when I'm pot-less, and it's a bit of a no-brainer?

Good post Carl very interesting and I admire how honourable you are in acknowledging Since '62's post as his 'belief' rather than taking it as fact, a common mistake we all make which can lead to countless arguments which could be easily avoided if everyone read posts fully.

My own take is very much similar to yours in that which ever loan note is valid, the current debt is £24m and whether that is paid for via stadium naming/promotion bonuses/cash would need to be determind by a court.

However, I believe the recent £15m figure (£10m cash £5m for promotion) has given the Malaysian's a ball park figure to work with when they finally make a move to settle the Langston debt and take full control of the club.

I suspect nothing will happen on that score until we are at the very least promoted.

All I know, is the information posted by both Since 62 and Lawnmower are taken from the latsest audited accounts released from the club. As pointed out in black and white the terms of the repayment are there for all to read if you wish to download the accounts. These are legal documents, signed off by both the Malysians, the board as is and the auditors. As for the naming rights they are worth up to 9 million. We are never going to get 9 million for the naming rights in fact we'd be lucky to get 500k, so in reality it's not a 9 million debt.

All I know, is the information posted by both Since 62 and Lawnmower are taken from the latsest audited accounts released from the club. As pointed out in black and white the terms of the repayment are there for all to read if you wish to download the accounts. These are legal documents, signed off by both the Malysians, the board as is and the auditors. As for the naming rights they are worth up to 9 million. We are never going to get 9 million for the naming rights in fact we'd be lucky to get 500k, so in reality it's not a 9 million debt.

viewtopic.php?f=2&t=31576

Which as posted by Since 62 and Lawnmower suggest the repayment of Loan note 2 is for £15m repayable by 31/12/2016.

Surely there are only the original loan notes.
Anything else is agreements/amendments to changes to how the payments are to be paid.

So all this loan note 1, loan note 2 etc is misleading.

Which as posted by Since 62 and Lawnmower suggest the repayment of Loan note 2 is for £15m repayable by 31/12/2016.

I think you are going around in circles. Whether it's Loan Note 1, 2 or 3 could have to be determind by a court whose authority would easily overide a set of audited accounts.

Also Loan Note 2 might not be as good as you think because Langston are receiving £1m p/a by way of an interest charge (which the club must pay to keep the matter out of court) and that will add £7m to the £15m and naming rights/promotion bonuses by 2016, giving a potential total of £27m plus naming rights.

Which as posted by Since 62 and Lawnmower suggest the repayment of Loan note 2 is for £15m repayable by 31/12/2016.

I think you are going around in circles. Whether it's Loan Note 1, 2 or 3 could have to be determind by a court whose authority would easily overide a set of audited accounts.

Also Loan Note 2 might not be as good as you think because Langston are receiving £1m p/a by way of an interest charge (which the club must pay to keep the matter out of court) and that will add £7m to the £15m and naming rights/promotion bonuses by 2016, giving a potential total of £27m plus naming rights.

Thats not a bad deal Tony - try and get an unsecured loan for 7% - dont bother asking Isaacs

Forget the naming rights -they are worth next to f**k all.