Cala Press Release

[Christies Child]

I still wonder if Peter McG sold his shares for a down payment but that the total payment has not been made BUT whose name on the legal documents is it that shows who the purchaser was and therefore the legal owner is.If they have been sold to Diego and his name is the only one on the documents then surely G50 have no right to them if they haven't been transfered from Diego to G50 as he appears to be now claiming..or is that a too simplistic view of the saga.

Still clutching at straws

If there's any truth in that, where's the legal case? Why say he'd resign to let Cala in if the shares were his? The only legal issue surrounds G50, Diego & Abdul. PMG is not named.[/quote

Most definately and it's interesting that there has been no confirmation that PMcG has actually been paid for his shares.

Could just be that he's keeping quiet on this subject on the advice of his legal advisors until either the full sum is paid or he gets his shares back and is then in a position to either sell locally or write of a significant amount and move on.

But as you say, I'm probably clutching at straws but I doubt anybody on SVs actually knows the real position and the only ones who do are the Board and they are keeping it very close to their chests having now realised that G50's claim is disputed.

[mrpotatohead]

Which part of H.E.S B.E.E.N P.A.ID. are you struggling with CC?

[Gnasher]

But as you say, I'm probably clutching at straws but I doubt anybody on SVs actually knows the real position and the only ones who do are the Board and they are keeping it very close to their chests having now realised that G50's claim is disputed.

That's the only thing for certain, no one knows. However, it's a very clear fact that PMG put his shares up for sale then transferred his shares in both Ltd companies that held interests in the club. He wanted out.

If he got all his money, it's completely out of his hands.

If he didn't get all his money then he could have a case to fight for them back. Going back to the first point though, he wanted out. One lot of shares he transferred has gone bust. The other set of shares (MFC Ltd), why would he spend lots of money (see an early post from Posh on the whole situation) to get back control of a loss making Ltd company that he's expected to subsidise. Let's say the cost of getting the shares back was £200K and he has to prop it up with £50K/month plus whatever amount is needed right now just to catch up. After a year he's down at least £800K. IF he didn't get all his money then unless it's more than £800K missing, it's a no-win situation.

Fact is CC, you own more shares than PMG

[Christies Child]

Which part of H.E.S B.E.E.N P.A.ID. are you struggling with CC?

Fact is Lee I doubt you and I will ever see eye to eye on this.

You seem convinced he's been paid. My arguement is that there is no confirmation of that and that applies also to Gnasher's posts. Nobody other than the Board know if he's actually been paid. He's transfered his shares to Lemos or whoever...no arguement there.....but has he received 100% of the money due...