Mike Ashley (former owner)

[AyeDubbleYoo]

 

Perfect

[Heake]

Putting up a big fucking tent!!

[ToonArmy1892]

Why can't i post gifs? 

[STM]

Just as we were about to lock this place up. Can we have a thread title update?

[NUFC_Chris]

The dots all connecting now. Just hope something happens soon, I'm fucked with it all.

[Darth Crooks]

[Guest godzilla]

Good f*** I've been ill all day and checked beck in. Momma.

 

Perfect pick me up 

[jonny1403]

This doesn't really tell us anything about the timing. It's still unclear where the parties are in terms of the definitive deal documents -- stock purchase agreement, etc. Still a good sign, though.

 

People generally don't incorporate in these circumstances until they need to. I've worked in plenty of processes where the binding bid document simply refers in general terms to 'a UK limited company, to be incorporated in due course' because it saves the hassle of setting one up and then closing it all back down again if the other conditions of the sale are not fulfilled.

 

I'd disagree with that slightly. I agree that in a normal bid scenario you would establish the company and acquire within a few days. However I've seen clients establish just to reserve the name and then never use the company again. It's really not that much hassle - it costs £40 to incorporate a company (£120 same day) and not much more to terminate. For large corporates that's less than 15 minutes of legal fees.

[ToonArmy1892]

 

If this is true (I'm kind of joking), its confirmation that Ashley is on his way.

 

He wouldnt spend money on some seats. 

 

[Guest godzilla]

 

fucking hell man  ;D

[TBG]

 

Sonia?

[Hughesy]

This doesn't really tell us anything about the timing. It's still unclear where the parties are in terms of the definitive deal documents -- stock purchase agreement, etc. Still a good sign, though.

 

People generally don't incorporate in these circumstances until they need to. I've worked in plenty of processes where the binding bid document simply refers in general terms to 'a UK limited company, to be incorporated in due course' because it saves the hassle of setting one up and then closing it all back down again if the other conditions of the sale are not fulfilled.

 

I'd disagree with that slightly. I agree that in a normal bid scenario you would establish the company and acquire within a few days. However I've seen clients establish just to reserve the name and then never use the company again. It's really not that much hassle - it costs £40 to incorporate a company (£120 same day) and not much more to terminate. For large corporates that's less than 15 minutes of legal fees.

Not going to hugely disagree, but you're probably going to use bespoke articles so it might cost a little more.

[Heake]

This doesn't really tell us anything about the timing. It's still unclear where the parties are in terms of the definitive deal documents -- stock purchase agreement, etc. Still a good sign, though.

 

People generally don't incorporate in these circumstances until they need to. I've worked in plenty of processes where the binding bid document simply refers in general terms to 'a UK limited company, to be incorporated in due course' because it saves the hassle of setting one up and then closing it all back down again if the other conditions of the sale are not fulfilled.

 

I'd disagree with that slightly. I agree that in a normal bid scenario you would establish the company and acquire within a few days. However I've seen clients establish just to reserve the name and then never use the company again. It's really not that much hassle - it costs £40 to incorporate a company (£120 same day) and not much more to terminate. For large corporates that's less than 15 minutes of legal fees.

 

Would that not be more likely if the wanted to secure the title itself (In that it may have strategic commercial significance) 

[STM]

This doesn't really tell us anything about the timing. It's still unclear where the parties are in terms of the definitive deal documents -- stock purchase agreement, etc. Still a good sign, though.

 

People generally don't incorporate in these circumstances until they need to. I've worked in plenty of processes where the binding bid document simply refers in general terms to 'a UK limited company, to be incorporated in due course' because it saves the hassle of setting one up and then closing it all back down again if the other conditions of the sale are not fulfilled.

 

I'd disagree with that slightly. I agree that in a normal bid scenario you would establish the company and acquire within a few days. However I've seen clients establish just to reserve the name and then never use the company again. It's really not that much hassle - it costs £40 to incorporate a company (£120 same day) and not much more to terminate. For large corporates that's less than 15 minutes of legal fees.

 

You wouldnt reserve the name of a company if you were a billionaire though? Especially since the name is irrelevant in this case.

[TheHoob]

 

Sonia?

 

[jarrovianmag]

This is surely b****** happening!

 

Think so Paully mate go and get a monochrome new shirt to celebrate 

 

Paully doesn’t own anything with such subtle shades

[STM]

Ok, so Pinsent Mason was used by Mike Ashley for the purchase of the club in 2007 aye?

 

Would it be then right to assume he may have advised the buyers on which legal firm to use? Sounds plausible to me.

[B-more Mag]

This doesn't really tell us anything about the timing. It's still unclear where the parties are in terms of the definitive deal documents -- stock purchase agreement, etc. Still a good sign, though.

 

People generally don't incorporate in these circumstances until they need to. I've worked in plenty of processes where the binding bid document simply refers in general terms to 'a UK limited company, to be incorporated in due course' because it saves the hassle of setting one up and then closing it all back down again if the other conditions of the sale are not fulfilled.

 

I hear you, but I've also been in plenty of transactions were it's done a good bit in advance of closing, while contingencies are outstanding, because it's cheap and gets it marked off on the checklist, and people generally assume the deal's going to go through. Just sayin'. Hopefully, though, it will get done in the next few days.

[Consortium of one]

Monochrome Acquisitions

 

I WANT TO BELIEVE

[Menace]

 

It's all happening lads. Mbappe #7  in August.

[Fugazi]

Furrowing my brows rn in a vain attempt to understand these lawyer posts

[Matt]

Honestly, I wish they would always do that. Trying to validate a beneficial ownership chain in 24 hours before closing is pretty much impossible.

[Heake]

This doesn't really tell us anything about the timing. It's still unclear where the parties are in terms of the definitive deal documents -- stock purchase agreement, etc. Still a good sign, though.

 

People generally don't incorporate in these circumstances until they need to. I've worked in plenty of processes where the binding bid document simply refers in general terms to 'a UK limited company, to be incorporated in due course' because it saves the hassle of setting one up and then closing it all back down again if the other conditions of the sale are not fulfilled.

 

I'd disagree with that slightly. I agree that in a normal bid scenario you would establish the company and acquire within a few days. However I've seen clients establish just to reserve the name and then never use the company again. It's really not that much hassle - it costs £40 to incorporate a company (£120 same day) and not much more to terminate. For large corporates that's less than 15 minutes of legal fees.

 

You wouldnt reserve the name of a company if you were a billionaire though? Especially since the name is irrelevant in this case.

 

 

 

[B-more Mag]

Furrowing my brows rn in a vain attempt to understand these lawyer posts

 

Translation -- B-more Mag: "I desperately want people to think I know things."

[Hughesy]

Honestly, I wish they would always do that. Trying to validate a beneficial ownership chain in 24 hours before closing is pretty much impossible.

As a lawyer, KYC can frankly piss off.  Shouldn't be a lawyer's responsibility to spoonfeed that shit.  Shouldn't even touch our desks.