Trust Legal Action Called Off

[Cooperman]

Fućking hell!

 

[Skippyjack]

You voted in the current trust board members.. I'm not surprised you lot of thickos fell for it.. alarm bells should've been ringing months ago

 

[Vetchonian]

What's your opinion Phil? You put years of work on this.

Other than the four years of my life wasted on endless calls, detail and trying to get this to a palatable stage where we had a decent resolution (And forget the views on the initial deal but it makes this one look positively brilliant!) I'm apathetic and not surprised.

I don't want to - and I won't attack individuals but we have settled this whole legal dispute for a paltry £500k rising to a maximum £2m which is dependent on three years in the Premier League. (Which in reality would probably have been paid as a dividend anyway)

The 5% is neither here nor there and not sure about the "never be sold" mantra - what if it was actually beneficial to sell it.

There appears to be an imminent dilution of the Trusts shares through - presumably - the conversion of the loan and the fact that the other 10% is exposed, one more loan note from Mr Silverstein and thatis just about gone.

But we have rights as a director (which is directors box privileges noted in a recent minutes as needing to be used) and someone else to pour the teas at board meetings (as an observer)

The £500k is probably less than paid out progressing the action mandated by the members and I wonder if the lawyers will want an extra payment from that given they can easily claim that they helped negotiate a settlement (remember they were always for mediation time and time again)

In answer to someone asking how I felt? Sadly I think this has had the feeling of inevitability for several months now - the talk of "getting up to speed" never made sense given the people getting up to speed were part of the board for several years and we shouldnt lose sight of the time element that could have seen legal action timed out.

My final gambit (for now) is one that says it would take an incredibly stupid/brave* (delete as appropriate) board to go against the wishes of the members, the reaction of that membership will tell you much

I've tried to be measured there, I am sure I may have a longer say at some stage soon!

Thanks for that Phil Im sure you are actually seething inside and annoyed after the effort that went into this.
It seems the current board are more interested in the quodos than the actual function and rationale of the Trust..
T all seems crazy to me but Ims sure certain peeps will enjoy their matchdays in the Directors box.....while it lasts!

 

[Witneyjack]

I won't be renewing next season.

 

[crazedbison]

What’s the path forward?

Only thing I can think of is that we have to go guerrilla.

 

[Vetchonian]

What’s the path forward?

Only thing I can think of is that we have to go guerrilla.

There isnt a path forwards....just trust in the process...

 

[Witneyjack]

What's your opinion Phil? You put years of work on this.

Other than the four years of my life wasted on endless calls, detail and trying to get this to a palatable stage where we had a decent resolution (And forget the views on the initial deal but it makes this one look positively brilliant!) I'm apathetic and not surprised.

I don't want to - and I won't attack individuals but we have settled this whole legal dispute for a paltry £500k rising to a maximum £2m which is dependent on three years in the Premier League. (Which in reality would probably have been paid as a dividend anyway)

The 5% is neither here nor there and not sure about the "never be sold" mantra - what if it was actually beneficial to sell it.

There appears to be an imminent dilution of the Trusts shares through - presumably - the conversion of the loan and the fact that the other 10% is exposed, one more loan note from Mr Silverstein and thatis just about gone.

But we have rights as a director (which is directors box privileges noted in a recent minutes as needing to be used) and someone else to pour the teas at board meetings (as an observer)

The £500k is probably less than paid out progressing the action mandated by the members and I wonder if the lawyers will want an extra payment from that given they can easily claim that they helped negotiate a settlement (remember they were always for mediation time and time again)

In answer to someone asking how I felt? Sadly I think this has had the feeling of inevitability for several months now - the talk of "getting up to speed" never made sense given the people getting up to speed were part of the board for several years and we shouldnt lose sight of the time element that could have seen legal action timed out.

My final gambit (for now) is one that says it would take an incredibly stupid/brave* (delete as appropriate) board to go against the wishes of the members, the reaction of that membership will tell you much

I've tried to be measured there, I am sure I may have a longer say at some stage soon!

I had a feeling that would be how you felt. I can't see the trust surviving this betrayal of it's members. If they struggled for numbers before 'they ain't seen nothing yet'.

 

[3swan]

I thought long and hard at the start of this season whether I would renew my membership (3 of us). We decided not too as gut feeling was that something like this was going to happen. Going to court was a difficult decision, but my initial thought is this is the end of the Trust as a meaningful organization. The Trust was sidelined at 21% so what input will it have at eventually 5%. I'm sorry but I don't agree that this is close to why the Trust was set up. It's a token gesture. The Trust has just agreed to be toothless. My thoughts turnover to anger when I think of all the hours spent by previous board members, who were carrying out the vote of its members. I just hope that there are more revelations to come but very much doubt it
I am a disgruntled ex member but not a surprised one.

 

[Bryanswan]

Glad i haven't given to the trust in years, proved right that they are pointless bunch who like to sit in the posh seats.
Never less than 5% shares, guess theyll be diluted down to that in no time.

My sentiment entirely, haven't given anything to them in years , and certainly won't in the future either. People like Phil and Darran must be absolutely fuming.

Too busy eating prawn sandwiches and liasing with 'big wigs'.
Most never really represented the fans and used it as a tool to get what they wanted.
The trust is dead as far as im concerned.

 

[Darran]

I have just emailed the Trust and resigned my membership.

 

[3swan]

Who is actually paying the £500k. Buyers, sellers mix?

 

[PSumbler]

Other than the four years of my life wasted on endless calls, detail and trying to get this to a palatable stage where we had a decent resolution (And forget the views on the initial deal but it makes this one look positively brilliant!) I'm apathetic and not surprised.

I don't want to - and I won't attack individuals but we have settled this whole legal dispute for a paltry £500k rising to a maximum £2m which is dependent on three years in the Premier League. (Which in reality would probably have been paid as a dividend anyway)

The 5% is neither here nor there and not sure about the "never be sold" mantra - what if it was actually beneficial to sell it.

There appears to be an imminent dilution of the Trusts shares through - presumably - the conversion of the loan and the fact that the other 10% is exposed, one more loan note from Mr Silverstein and thatis just about gone.

But we have rights as a director (which is directors box privileges noted in a recent minutes as needing to be used) and someone else to pour the teas at board meetings (as an observer)

The £500k is probably less than paid out progressing the action mandated by the members and I wonder if the lawyers will want an extra payment from that given they can easily claim that they helped negotiate a settlement (remember they were always for mediation time and time again)

In answer to someone asking how I felt? Sadly I think this has had the feeling of inevitability for several months now - the talk of "getting up to speed" never made sense given the people getting up to speed were part of the board for several years and we shouldnt lose sight of the time element that could have seen legal action timed out.

My final gambit (for now) is one that says it would take an incredibly stupid/brave* (delete as appropriate) board to go against the wishes of the members, the reaction of that membership will tell you much

I've tried to be measured there, I am sure I may have a longer say at some stage soon!

Thanks for that Phil Im sure you are actually seething inside and annoyed after the effort that went into this.
It seems the current board are more interested in the quodos than the actual function and rationale of the Trust..
T all seems crazy to me but Ims sure certain peeps will enjoy their matchdays in the Directors box.....while it lasts!

The day the Trust turned into a supporters club as opposed to an organisation concerned with the overall governance of a football club

 

[Swanjaxs]

Every single one of the Trust (sic) board should resign with immediate effect, as the saying goes "you lie down with dogs you get up with fleas".

 

[Skippyjack]

I bet the Americans are laughing their tits off with the Trust's competence levels

 

[Vetchonian]

Thanks for that Phil Im sure you are actually seething inside and annoyed after the effort that went into this.
It seems the current board are more interested in the quodos than the actual function and rationale of the Trust..
T all seems crazy to me but Ims sure certain peeps will enjoy their matchdays in the Directors box.....while it lasts!

The day the Trust turned into a supporters club as opposed to an organisation concerned with the overall governance of a football club

Oh so true Phil thank you for all you past hard work....I suppose I am a hypocite in that I have not been a member of the Trust for the last couple of years but I could see how things were going....what is annoying this is worse than the intial offer!!!