Ewm / 1921

[Neil_McDonalds_dick]

At the other place there are folk suggesting that Philip Day is on friendly terms with The Three, citing him keeping them in place when he has the power to totally get rid of them.

I suggest that the opposite is the case. He has clamped them in place in order to more easily carry out the Charge on all 1921 assets, including any money in accounts and any money coming in, no matter what the source is. The Three also gave personal guarantees for the ongoing negative value of the EWM facility. With them clamped in place, powerless and financially vulnerable he has got them exactly where he wants them, able to easily financially torture them. Furthermore they are the continuing focus of supporter anger.

The Three are not desperately clinging on to their positions and Holdings shares. They are all desperate to totally escape.

[Psaw]

None of this will have a good ending.

[Kessler]

The Three are not desperately clinging on to their positions and Holdings shares. They are all desperate to totally escape.

Nobody is stopping them standing down, it's a free country.

[Neil_McDonalds_dick]

They are strapped in by PD / EWM in order that it is easier to implement the EWM Charge on all of the 1921 assets including money in bank accounts and any money coming into the club during the duration of the Charge. Furthermore, being strapped in makes it easier to implement the terms of their Personal Guarantees, EWM could be torturing them by forcing them to pay back regular amounts of these PGs.

If they attempt to escape then PD / EWM can give them immense financial pain.

The Three have been absolutely desperate to escape for at least 3 years but they are trapped until PD / EWM release them, which could be for quite some time. A lesser part of the reason for them being strapped in is that they are not drawing any wages and they are a focus of all blame, whilst being utterly powerless. Debt outranks equity (shares) and thus EWM own 1921.

This is all explained in the first post in this thread. But unfortunately people like to think that The Three could leave and are being obdurate but that is not the case. Having explained it twice I suggest that should be enough times and if doing a quote then do it of the whole explanation rather than just that portion that you feel able to simply gainsay, as though no other parts exist.

[Dick Large]

Well I do not like the *******s at all and therefor it suits my fixed mindset to believe that the *******s are clinging on. No amount of evidence to the contrary will ever get me to change my mind, so you with your common sense evidence can **** off.

[Kessler]

They are strapped in by PD / EWM in order that it is easier to implement the EWM Charge on all of the 1921 assets including money in bank accounts and any money coming into the club during the duration of the Charge. Furthermore, being strapped in makes it easier to implement the terms of their Personal Guarantees, EWM could be torturing them by forcing them to pay back regular amounts of these PGs.

If they attempt to escape then PD / EWM can give them immense financial pain.

The Three have been absolutely desperate to escape for at least 3 years but they are trapped until PD / EWM release them, which could be for quite some time. A lesser part of the reason for them being strapped in is that they are not drawing any wages and they are a focus of all blame, whilst being utterly powerless. Debt outranks equity (shares) and thus EWM own 1921.

This is all explained in the first post in this thread. But unfortunately people like to think that The Three could leave and are being obdurate but that is not the case. Having explained it twice I suggest that should be enough times and if doing a quote then do it of the whole explanation rather than just that portion that you feel able to simply gainsay, as though no other parts exist.

He could call in the PG but ultimately if Jenkins and the two parasites say they are standing down, it's not like Day or EWM can force them to stay in place. It seems like EWM want to call the shots without the hassle of being officially in charge and all the responsibilities that go with that. Such a position is not acceptable, they need to decide whether they want to be formally in charge of the club, or leave altogether.

[6EQUJ5]

Yes of course in theory they can stand down but they know that the financial hold that PD / EWM have on them is far too great to bear. For at least two years they have been desperate to escape but in real terms they cannot. The price of not fully calling in the Personal Guarantees is that they stay in place. They are clamped in place until PD decides otherwise.

Of course it is populist for supporters to think that they are clinging on to power, so that supporters can continue to routinely blame them well into the future.

But they are not clinging on and they have no power, they are trapped with no escape options.

[Neil_McDonalds_dick]

Come on Kessler, quote the 6th to 9th words of the above post and not the full post.

[Kessler]

For at least two years they have been desperate to escape but in real terms they cannot

I don't agree. If they were desperate to leave why didn't they do more to engage with that Lummy and his group at the end of last year towards something like that?

[Neil_McDonalds_dick]

They have absolutely no power to engage with a would be new ownership because EWM own 1921 with their debt rendering the ownership of Holdings shares totally irrelevant. Of course EWM let them do the official rebuttal because EWM are perpetually silent.

EWM own 1921 with the power of the 'facility'. Jenkins / Nixon / Pattison are officially in the same position as ever but they have no power and either they do nothing or they do what EWM tell them to do. If they attempt to escape from their captivity EWM will punish them severely. They are trapped until EWM release them and no partial quoting of posts on here can alter that simple truth. As Holdings directors / shareholders (which owns 93% of 1921) they are in the end legally responsible for the 1921 debts, further enforced by their Personal Guarantees. Thus their position could not be worse, they are trapped and any attempt to escape would be financially cataclysmic for them. Philip Day is not known for his geniality.