Everton FC sale - speculation on timings

Status
Not open for further replies.
bizzaro said:
You're missing the point entirely. Its not all about the figures. The Pensions Act 2004 - puts Philip Green under a potential scrutiny he has never had before.

I am saying the the sale of EFC when it happened was remarkable given the timings.
Click to expand...

The Pensions Act 2004 wont put PG under any scrutiny at all outside of a very narrow terms of reference specific to the BHS Pension scheme that the Pension Regulator will be looking at. It will not even look at Arcadias pension scheme, let alone a probably mythological hidden minority shareholding in a football club that it would be completely unable to prove one way or the other.

How exactly would you see the regulator expanding its purview?
 
mikewex said:
The Pensions Act 2004 wont put PG under any scrutiny at all outside of a very narrow terms of reference specific to the BHS Pension scheme that the Pension Regulator will be looking at. It will not even look at Arcadias pension scheme, let alone a probably mythological hidden minority shareholding in a football club that it would be completely unable to prove one way or the other.

How exactly would you see the regulator expanding its purview?
Click to expand...

Again, you are looking only at the figures.

The regulators will want to know everything in relation to the dealings of BHS and also in relation to assets held by Philip Green. Particularly UK domiciled assets.

Given they've already rejected out of hand his initial informal offer.
 
bizzaro said:
The regulators will want to know everything in relation to the dealings of BHS
Click to expand...

Yes.


bizzaro said:
and also in relation to assets held by Philip Green. Particularly UK domiciled assets.
Click to expand...

Why? They have nothing to do with BHS nor to the pension scheme. What strange investigatory powers do you think the Pension Regulator has? If they decided that PG needed to pay an amount into the scheme it would be based on what the scheme is owed, not what PG is worth. If he refused to pay, and it went to court and a judgement was found against him, and he still refused to pay and the court found him in contempt and started a forced collection of the judgement (phew), then they might start appraising his worth to raise the money.

Which wouldn't go any further then Arcadia before they found enough UK based assets.
 
I love a good conspiracy theory; the moon landings didn't happen; the Titanic was actually her sister ship; there's a guy works down the chip shop swears he's Elvis.....or was that a song? :) - so thank you for an interesting read over the Sunday morning bacon butties. There is the right degree of plausibility in this for it to work. And because I love conspiracy theories I'm going to join in. Mr Moshiri seems to be a nice man who lives in tax haven Monaco, where Phillip Green also lives, and has interests in Russian steel. His business partner Alisher Usmanov is close friends with Roman Abramovich. They must have lovely dinner parties.

I am surprised at how many of you put faith in what shareholders declare. The key word is illegal. Dodgy dealings would not be declared for all to see- it's like MPs declaring their tax returns. If you are hiding money then you don't declare it. Similarly the myth about illegal immigrants claiming benefits- if you are here illegally you don't rock up the the JobCentre and say "Hello, I'm here illegally, can I have my £74 a week JSA"

I am also a bit surprised that some of you are saying that it would have had to be going on for years, Well, yes. Have we not just witnessed the end of a 27 year cover up? Jimmy Saville, friend of Prime Ministers and royalty was allowed to get away with his disgusting practices for years. The Establishment can cover up for many many years.

Finally Robert Maxwell. If you are too young to remember, google him- owned a football club, robbed his employers pension scheme. Similar parallels to Phillip Green.

Happy Sunday Blues, Enjoy your Bank Holiday. Thanks for the read. Anybody got any views on Area 51 or the gunman on the grassy knoll?:D:D:D
 
mikewex said:
Yes.

Why? They have nothing to do with BHS nor to the pension scheme. What strange investigatory powers do you think the Pension Regulator has? If they decided that PG needed to pay an amount into the scheme it would be based on what the scheme is owed, not what PG is worth. If he refused to pay, and it went to court and a judgement was found against him, and he still refused to pay and the court fount himin contempt and started a forced collection of the judgement (phew), then they might start appraising his worth to raise the money.

Which wouldn't go any further then Arcadia before they found enough UK based assets.
Click to expand...

He's already subject to TWO parliamentary select committee inquiries - including the work and pensions committee - who are regulators looking at the impact on the state backed pension protection scheme.

They're threatening to take his knighthood off him unless he pays more compensation.

All this scrutiny is the issue that you are completely ignoring.
 
bizzaro said:
He's already subject to TWO parliamentary select committee inquiries - including the work and pensions committee - who are regulators looking at the impact on the state backed pension protection scheme.

They're threatening to take his knighthood off him unless he pays more compensation.

All this scrutiny is the issue that you are completely ignoring.
Click to expand...


Ok we are going in circles so not much point in continuing. But Damo, please don't be too shocked when any and all investigations into BHS and its pensions don't look into any companies other then BHS and its pensions.
 
Status
Not open for further replies.

Similar Threads

Welcome

Join the Everton conversation today.
Fewer ads, full access, completely free.

→ Log in 🔑 Register
🛒 Visit Shop

Support Grand Old Team by checking out our latest Everton gear!
Back
Top