Time to go

[Lord Kangana]

Worthy? How would that work in practice?

[BWFC_Insane]

Worthy? How would that work in practice?

Perhaps you are right, that the 5M through the books is to ensure it is classed as a loan rather than income......

Actually does sound dodgy......

And Worthy, do you know which offshore company actually owns BWFC? Gartside did mention it, but its slipped my mind.

It wasn't Burnden Leisure.....

[Worthy4England]

I thought that was what BWFci was saying was said at the Fan's Forum?

And am I not right in saying that Bolton Wanderer's would have to pay tax on the money as income (rather than none at the moment, because its a loan) if the company is closed with the debt outstanding?

When BWFCI posted what Garty said, my initial thought was "that sounds carefully worded".

Why would they close the Company with the debt outstanding? If it's a Trust, it can remain in place for up to 120 years in some jurisdictions, or until the Terms of the Trust have been met. It has no obligation to make a profit and as it doesn't have to produce Accounts of any real meaning, so who knows what's in the box?....It's not like a proper Company.

[Worthy4England]

Worthy? How would that work in practice?

Perhaps you are right, that the 5M through the books is to ensure it is classed as a loan rather than income......

Actually does sound dodgy......

And Worthy, do you know which offshore company actually owns BWFC? Gartside did mention it, but its slipped my mind.

It wasn't Burnden Leisure.....

It is BL as the UK entity, but the Parent Company is Fildraw Private Trust.

[BWFC_Insane]

Worthy? How would that work in practice?

Perhaps you are right, that the 5M through the books is to ensure it is classed as a loan rather than income......

Actually does sound dodgy......

And Worthy, do you know which offshore company actually owns BWFC? Gartside did mention it, but its slipped my mind.

It wasn't Burnden Leisure.....

It is BL as the UK entity, but the Parent Company is Fildraw Private Trust.

Thats the one! Cheers.

[Lord Kangana]

So would I be right in suggesting that the ownership or future direction of the "company" (Trust) is a little bit of a Sword of Damocles hanging over us? Ie, if Eddie dies, who controls it and what would they do?

[BWFC_Insane]

So would I be right in suggesting that the ownership or future direction of the "company" (Trust) is a little bit of a Sword of Damocles hanging over us? Ie, if Eddie dies, who controls it and what would they do?

Possibly, Gartside did vaguely refer to that and say something along the lines of his family are behind it and involved and nothing would change in respect to the "debt" that isn't a "debt"

However, there are few football clubs that can say they'd be ok, irrespective. What if the Arabs pull out of Citeh? Abramovich from Chelsea? That Cortesi bloke at Southampton, Glazers at Man Utd etc etc.......

[Dave Sutton's barnet]

The same Moyes who lost Pienaar on a free and bought him back for £4m? The same Moyes who spent £12m on Diniyar Bilyaletdinov only to flog him for £3m two years later. That Moyes? He's spent money.. They were lucky they were sat on a £25m prodigy though in fairness..

There will always be mistakes made. However all that is irrelevant when he's just robbed City of 20M for Rodwell.

Didn't get much for the previous prodigy, Dan Gosling, whom they'd robbed off Plymouth... but yeah, much of the money they've spent has come from selling youth academy products (plus Lescott for £22m after signing him for £5m). Which is part of Bolton's current plan, and quite right too.

Other Moyes signings (fess according to Soccerbase):
Jelavic £5.5m, Jan 12
Heitinga £6m, Sep 09
Distin £5m, Aug 09
Fellaini £15m, Sep 08
Yakubu £11.25m, Aug 07

[boltonboris]

Yakubu! There's another!

He'd be perfect in front of our back 4!

[officer_dibble]

sign him on! foreign name and black!

[SmokinFrazier]

So would I be right in suggesting that the ownership or future direction of the "company" (Trust) is a little bit of a Sword of Damocles hanging over us? Ie, if Eddie dies, who controls it and what would they do?

Are his family involved with Bolton? I thought I read somewhere that his daughter was involved in the club but having briefly looked on Google, I can't find anything to back that up. If that is the case, maybe they'll be happy to continue the business plan that Eddie has laid out?

[Lord Kangana]

I don't know. Thats why I'm asking. I'm interested to know how the whole arrangement affects us not just now, but in the future and under different circumstances.

[Bruce Rioja]

John Coffey (Like the drink, only not spelled the same). Just t'job.

[Worthy4England]

So would I be right in suggesting that the ownership or future direction of the "company" (Trust) is a little bit of a Sword of Damocles hanging over us? Ie, if Eddie dies, who controls it and what would they do?

Don't think so, if it's a Trust. The minute ED "Trusts it", he no longer legally controls it, the Trustee's do - he could of course be the sole Trustee, but that wouldn't make much sense from a tax angle.

[Mar]

So would I be right in suggesting that the ownership or future direction of the "company" (Trust) is a little bit of a Sword of Damocles hanging over us? Ie, if Eddie dies, who controls it and what would they do?

Don't think so, if it's a Trust. The minute ED "Trusts it", he no longer legally controls it, the Trustee's do - he could of course be the sole Trustee, but that wouldn't make much sense from a tax angle.

Lets be honest putting money into BWFC isn't the most sensical idea around. He does it for the love of the club so i'm told.

[Lord Kangana]

So trying to understand this, what would make sense? Multiple family-member ownership?

[Worthy4England]

So trying to understand this, what would make sense? Multiple family-member ownership?

It's not ownership in the sense that you're thinking (putting words into your mouth - so apols if I get it wrong). The Trustees are only empowered to carry out the Terms of the Trust. One of the Terms may be that on the event of the death of the Settlor, anything in the box is distributed equally between the Beneficiaries - as an example.

He certainly has more than one Trust (two we know of). I'd be very surprised if one of the Trusts wasn't there to look after the family...

[Lord Kangana]

Sorry, yeah, badly worded. I'm more worried about who's directing it once he's gone. What their motivations are etc. And not so much from the Trust's end, but from ours as (at the moment) the major beneficiaries of their funds, and the possible implications thereafter.

[Worthy4England]

Sorry, yeah, badly worded. I'm more worried about who's directing it once he's gone. What their motivations are etc. And not so much from the Trust's end, but from ours as (at the moment) the major beneficiaries of their funds, and the possible implications thereafter.

I think I trust (no pun intended) ED will have it sorted out somehow...A trust can last for up to 120 years in some jurisdictions...there's no guarantee that ED's family are either Trustees or Beneficiaries of this Trust, but if they were Trustee's they'd have to carry out the Terms and if the were the Beneficiaries they'd only get what the Terms said they were due.

Any loans will also have Terms attached...

[bobo the clown]

Sorry, yeah, badly worded. I'm more worried about who's directing it once he's gone. What their motivations are etc. And not so much from the Trust's end, but from ours as (at the moment) the major beneficiaries of their funds, and the possible implications thereafter.

I think I trust (no pun intended) ED will have it sorted out somehow...A trust can last for up to 120 years in some jurisdictions...there's no guarantee that ED's family are either Trustees or Beneficiaries of this Trust, but if they were Trustee's they'd have to carry out the Terms....

So, put plainly ... by 2142 we fckd. Right !!

Davies Out !!!