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Well worth a read (Mike Rouse’s son )

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MuddyWaters
December 24, 2020, 3:09pm
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aldi_01
December 24, 2020, 3:13pm

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I’m afraid Mr Rouse Jnr is unaware of the protocols...there are rules and regulations for John Shelton Fenty and then those for everyone else...


'the poor and the needy are selfish and greedy'...well done Mozza
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ginnywings
December 24, 2020, 3:46pm

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A family member works for an ex Town director and I have done work for his son. Their opinion of JF isn't very complimentary to put it mildly. Don't suppose Parker and Mullen have much good to say either. He's trodden on a few toes over the years.
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blundellpork
December 24, 2020, 6:23pm

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Reading that article, it suggests Directors loans are subordinated behind other creditors. This is not uncommon in the banking world and by prioritising in this way it would appear the end result that money is owed to the Directors rather than the banks. This seems a fairly sensible approach to take and removes the risk of lenders calling in their debt, and would probably incur less interest.

As the bank debt, HMRC debt etc is now cleared, I’m not convinced by the argument that Fenty is in conflict with these rules.
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GrimRob
December 24, 2020, 6:30pm

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It says: "The club have drafted a new "Directors' Protocol" document to stop this happening in the future with any new board members, which the club are still very keen to bring to Blundell Park."

Did it ever get beyond the draft stage? I wrote the article so don't ask the author  


'Tis better to have loved and lost than never to have loved at all.  
~ Alfred Lord Tennyson
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KingstonMariner
December 25, 2020, 2:41am
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I very much doubt it was ever ratified Rob. Fenty would have lost interest when he realised he was going to be the major creditor.

The accounts say that Fenty controls the club by dint of his shares (well under 50%), his loans (>1.5 x his Liana) and the guarantee he gives to underwrite cash shortages. If he couldn’t easily call in his loans then he wouldn’t be considered to have control.

Wonder if there were any resolutions about it at AGMs.


Through the door there came familiar laughter,
I saw your face and heard you call my name.
Oh my friend we're older but no wiser,
For in our hearts the dreams are still the same.
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