#SellBeforeWeDai Action/Inaction Group

2913 posts
SCIAG
Hob Nob Addict
Posts: 6470
Joined: 17 Jun 2008 17:43
Location: Liburd for England

Re: #SellBeforeWeDai Action/Inaction Group

by SCIAG » 14 Oct 2024 15:36

Fezza
Extended-Phenotype Can any good come from protesting outside our Chinese cockblockers?

ADDRESS
Haitong Bank, S.A. London Branch
8 Finsbury Circus, EC2M 7EA
London, United Kingdom

PHONE
+44 207 4569191

EMAIL
info.ukbranch@haitongib.com

I imagine that the Chinese government, well known for their measured approach to dissent, would be entirely tolerant of any protest by the British on their (recently returned) shores.

I’m sure that protesting outside a bank, that we need on our side, can only go well for us!

London is not in Hong Kong m9.

User avatar
Fezza
Member
Posts: 939
Joined: 22 Apr 2004 16:33
Location: Counting Sheep!

Re: #SellBeforeWeDai Action/Inaction Group

by Fezza » 14 Oct 2024 17:47

SCIAG
Fezza
Extended-Phenotype Can any good come from protesting outside our Chinese cockblockers?

ADDRESS
Haitong Bank, S.A. London Branch
8 Finsbury Circus, EC2M 7EA
London, United Kingdom

PHONE
+44 207 4569191

EMAIL
info.ukbranch@haitongib.com

I imagine that the Chinese government, well known for their measured approach to dissent, would be entirely tolerant of any protest by the British on their (recently returned) shores.

I’m sure that protesting outside a bank, that we need on our side, can only go well for us!

London is not in Hong Kong m9.


Fair, although it doesn't change the fact that we need them on board

User avatar
Extended-Phenotype
Hob Nob Addict
Posts: 5907
Joined: 27 May 2011 10:43
Location: Oxford Road

Re: #SellBeforeWeDai Action/Inaction Group

by Extended-Phenotype » 15 Oct 2024 08:13

That’s the tricky thing about protesting, though. You are often attempting to pressure a side into doing the right thing (for you) through means that causes them inconvenience. I mean, it’s not like we haven’t also needed Dai on our side.

If Haitong are actively blocking the sale because they want Dai to pay the debt prior to sale, that’s a dick move (as it leaves us to crumble while two parties squabble over some side deal). If they are insisting to be a beneficiary of the sale and this is disincentivising Dai or potential buyers, that’s not great either. Ideally we’d need to be treated as a separate transaction and Dai’s debt to them as something to pursue independent of whether he owns or doesn’t own Reading. I mean, ultimately if Dai could afford the debt if he sold us but this deters him from doing so, what’s the point of this game plan? It’s the same limbo state then if the sale completed and Dai continued to avoid repayment, just with the former causing the collapse of a football team in the meantime. In which case couldn’t they get out of oxf*rd way of the sale and chase Dai on their own time once he has nothing more to do with us?

I’m just not seeing how throwing wrenches into takeovers is good for them, let alone us. I also don’t quite understand why, if Dai has defaulted and the stadium is collateral, the stadium doesn’t already belong to them anyway. That’s how these things generally work. It would be better for us if this was the case (though perhaps it IS the case as previously mentioned?).

User avatar
Crowbar6753
Member
Posts: 905
Joined: 17 Aug 2015 23:25

Re: #SellBeforeWeDai Action/Inaction Group

by Crowbar6753 » 15 Oct 2024 16:23

stealthpapes
Fezza
Extended-Phenotype Can any good come from protesting outside our Chinese cockblockers?

ADDRESS
Haitong Bank, S.A. London Branch
8 Finsbury Circus, EC2M 7EA
London, United Kingdom

PHONE
+44 207 4569191

EMAIL
info.ukbranch@haitongib.com

I imagine that the Chinese government, well known for their measured approach to dissent, would be entirely tolerant of any protest by the British on their (recently returned) shores.

I’m sure that protesting outside a bank, that we need on our side, can only go well for us!




:D :D :D :D :D :D :D :D :D :D

User avatar
Lower West
Hob Nob Subscriber
Hob Nob Subscriber
Posts: 4984
Joined: 14 Apr 2004 11:35
Location: Admiring Clem Morfuni at Work

Re: #SellBeforeWeDai Action/Inaction Group

by Lower West » 15 Oct 2024 17:28

Extended-Phenotype That’s the tricky thing about protesting, though. You are often attempting to pressure a side into doing the right thing (for you) through means that causes them inconvenience. I mean, it’s not like we haven’t also needed Dai on our side.

If Haitong are actively blocking the sale because they want Dai to pay the debt prior to sale,


No different to selling your own property if you have a mortgage on it. Banks lend against assets that they they can sell and realise to settle what they are owed. Not their problem if the owners took a gamble that failed. Up to any potential buyers of the club to find a solution.


ham
Member
Posts: 16
Joined: 30 Jan 2022 17:32

Re: #SellBeforeWeDai Action/Inaction Group

by ham » 15 Oct 2024 19:39

Sadly, this is all such a mess that further protest seems utterly pointless. Dai wants to sell because he needs money, but can’t because he’s gambled away £50 million of the bank’s money. The Chinese bank want their money back but no one in their right mind is going to give Dai £30 million and pay separately for the stadium.

Dai is a oxf*rd and I wish him nothing but awful things, but the only purpose protesting serves now is to make people feel slightly better; like they did something as the club faded away. Which it very much sounds like it will unless by some miracle someone can untangle this absolute clusterfukk.




I

User avatar
Extended-Phenotype
Hob Nob Addict
Posts: 5907
Joined: 27 May 2011 10:43
Location: Oxford Road

Re: #SellBeforeWeDai Action/Inaction Group

by Extended-Phenotype » 15 Oct 2024 21:35

Lower West
Extended-Phenotype That’s the tricky thing about protesting, though. You are often attempting to pressure a side into doing the right thing (for you) through means that causes them inconvenience. I mean, it’s not like we haven’t also needed Dai on our side.

If Haitong are actively blocking the sale because they want Dai to pay the debt prior to sale,


No different to selling your own property if you have a mortgage on it. Banks lend against assets that they they can sell and realise to settle what they are owed. Not their problem if the owners took a gamble that failed. Up to any potential buyers of the club to find a solution.


Except the mortgage is paid off from the proceeds if I sell my house. The lender doesn't insist I pay the mortgage beforehand and scupper every attempt to sell.

MartinRdg
Member
Posts: 564
Joined: 14 Apr 2004 10:57
Location: Cornwall

Re: #SellBeforeWeDai Action/Inaction Group

by MartinRdg » 16 Oct 2024 09:34

Extended-Phenotype
Lower West
Extended-Phenotype That’s the tricky thing about protesting, though. You are often attempting to pressure a side into doing the right thing (for you) through means that causes them inconvenience. I mean, it’s not like we haven’t also needed Dai on our side.

If Haitong are actively blocking the sale because they want Dai to pay the debt prior to sale,


No different to selling your own property if you have a mortgage on it. Banks lend against assets that they they can sell and realise to settle what they are owed. Not their problem if the owners took a gamble that failed. Up to any potential buyers of the club to find a solution.


Except the mortgage is paid off from the proceeds if I sell my house. The lender doesn't insist I pay the mortgage beforehand and scupper every attempt to sell.


That's because a mortgage lender will not lend you more than the value of your house (or shouldn't!) but it seems that this Chinese bank have lent him £55M against an asset worth considerably less which is bad business in anyone's book.

Crusader Royal
Member
Posts: 383
Joined: 24 Dec 2023 14:07

Re: #SellBeforeWeDai Action/Inaction Group

by Crusader Royal » 16 Oct 2024 10:47

MartinRdg
Extended-Phenotype
Lower West
No different to selling your own property if you have a mortgage on it. Banks lend against assets that they they can sell and realise to settle what they are owed. Not their problem if the owners took a gamble that failed. Up to any potential buyers of the club to find a solution.


Except the mortgage is paid off from the proceeds if I sell my house. The lender doesn't insist I pay the mortgage beforehand and scupper every attempt to sell.


That's because a mortgage lender will not lend you more than the value of your house (or shouldn't!) but it seems that this Chinese bank have lent him £55M against an asset worth considerably less which is bad business in anyone's book.


Negative equity ?
Surely they lend you an amount based on the value at the time. That value can go up or down and also depends o. The accuracy of the initial valuation.


MartinRdg
Member
Posts: 564
Joined: 14 Apr 2004 10:57
Location: Cornwall

Re: #SellBeforeWeDai Action/Inaction Group

by MartinRdg » 16 Oct 2024 15:35

Crusader Royal
MartinRdg
Extended-Phenotype
Except the mortgage is paid off from the proceeds if I sell my house. The lender doesn't insist I pay the mortgage beforehand and scupper every attempt to sell.


That's because a mortgage lender will not lend you more than the value of your house (or shouldn't!) but it seems that this Chinese bank have lent him £55M against an asset worth considerably less which is bad business in anyone's book.


Negative equity ?
Surely they lend you an amount based on the value at the time. That value can go up or down and also depends o. The accuracy of the initial valuation.


Was the stadium ever worth £55m?

User avatar
Extended-Phenotype
Hob Nob Addict
Posts: 5907
Joined: 27 May 2011 10:43
Location: Oxford Road

Re: #SellBeforeWeDai Action/Inaction Group

by Extended-Phenotype » 16 Oct 2024 15:39

MartinRdg
Extended-Phenotype
Lower West
No different to selling your own property if you have a mortgage on it. Banks lend against assets that they they can sell and realise to settle what they are owed. Not their problem if the owners took a gamble that failed. Up to any potential buyers of the club to find a solution.


Except the mortgage is paid off from the proceeds if I sell my house. The lender doesn't insist I pay the mortgage beforehand and scupper every attempt to sell.


That's because a mortgage lender will not lend you more than the value of your house (or shouldn't!) but it seems that this Chinese bank have lent him £55M against an asset worth considerably less which is bad business in anyone's book.


Ah.

User avatar
Green
Hob Nob Legend
Posts: 28002
Joined: 29 Jun 2012 13:28

Re: #SellBeforeWeDai Action/Inaction Group

by Green » 16 Oct 2024 15:42

ham Sadly, this is all such a mess that further protest seems utterly pointless. Dai wants to sell because he needs money, but can’t because he’s gambled away £50 million of the bank’s money. The Chinese bank want their money back but no one in their right mind is going to give Dai £30 million and pay separately for the stadium.

Dai is a oxf*rd and I wish him nothing but awful things, but the only purpose protesting serves now is to make people feel slightly better; like they did something as the club faded away. Which it very much sounds like it will unless by some miracle someone can untangle this absolute clusterfukk.

Good post, +1

User avatar
Pepe the Horseman
Hob Nob Super-Addict
Posts: 18309
Joined: 23 Jun 2011 10:24
Location: Putting right what once went wrong

Re: #SellBeforeWeDai Action/Inaction Group

by Pepe the Horseman » 16 Oct 2024 15:57

Green
ham Sadly, this is all such a mess that further protest seems utterly pointless. Dai wants to sell because he needs money, but can’t because he’s gambled away £50 million of the bank’s money. The Chinese bank want their money back but no one in their right mind is going to give Dai £30 million and pay separately for the stadium.

Dai is a oxf*rd and I wish him nothing but awful things, but the only purpose protesting serves now is to make people feel slightly better; like they did something as the club faded away. Which it very much sounds like it will unless by some miracle someone can untangle this absolute clusterfukk.

Good post, +1

Nice to see you two getting along. There was a kid at my primary school with the surname Greenham.


User avatar
Horsham Royal
Hob Nob Regular
Posts: 1103
Joined: 29 Mar 2006 16:09

Re: #SellBeforeWeDai Action/Inaction Group

by Horsham Royal » 16 Oct 2024 17:09

Pepe the Horseman
Green
ham Sadly, this is all such a mess that further protest seems utterly pointless. Dai wants to sell because he needs money, but can’t because he’s gambled away £50 million of the bank’s money. The Chinese bank want their money back but no one in their right mind is going to give Dai £30 million and pay separately for the stadium.

Dai is a oxf*rd and I wish him nothing but awful things, but the only purpose protesting serves now is to make people feel slightly better; like they did something as the club faded away. Which it very much sounds like it will unless by some miracle someone can untangle this absolute clusterfukk.

Good post, +1

Nice to see you two getting along. There was a kid at my primary school with the surname Greenham.

Just need a post from eggs.

User avatar
tmesis
Hob Nob Regular
Posts: 2828
Joined: 16 Aug 2013 20:26

Re: #SellBeforeWeDai Action/Inaction Group

by tmesis » 16 Oct 2024 22:49

ham Sadly, this is all such a mess that further protest seems utterly pointless. Dai wants to sell because he needs money, but can’t because he’s gambled away £50 million of the bank’s money. The Chinese bank want their money back but no one in their right mind is going to give Dai £30 million and pay separately for the stadium.

Dai is a oxf*rd and I wish him nothing but awful things, but the only purpose protesting serves now is to make people feel slightly better; like they did something as the club faded away. Which it very much sounds like it will unless by some miracle someone can untangle this absolute clusterfukk.

I

He also owes £500 million on a loan he took out to buy Evergrande shares, just before the firm's collapse.

He seems to have spent the last few years of his life like he's acting out a Chinese version of Brewster's Millions.

User avatar
Vision
Hob Nob Addict
Posts: 5133
Joined: 15 Apr 2004 20:53

Re: #SellBeforeWeDai Action/Inaction Group

by Vision » 17 Oct 2024 20:31

Pepe the Horseman
Green
ham Sadly, this is all such a mess that further protest seems utterly pointless. Dai wants to sell because he needs money, but can’t because he’s gambled away £50 million of the bank’s money. The Chinese bank want their money back but no one in their right mind is going to give Dai £30 million and pay separately for the stadium.

Dai is a oxf*rd and I wish him nothing but awful things, but the only purpose protesting serves now is to make people feel slightly better; like they did something as the club faded away. Which it very much sounds like it will unless by some miracle someone can untangle this absolute clusterfukk.

Good post, +1

Nice to see you two getting along. There was a kid at my primary school with the surname Greenham.


It's quite Common.

Sutekh
Hob Nob Legend
Posts: 20253
Joined: 12 Feb 2014 14:05
Location: Undiscovered pyramid somewhere in Egypt

Re: #SellBeforeWeDai Action/Inaction Group

by Sutekh » 18 Oct 2024 07:11

tmesis
ham Sadly, this is all such a mess that further protest seems utterly pointless. Dai wants to sell because he needs money, but can’t because he’s gambled away £50 million of the bank’s money. The Chinese bank want their money back but no one in their right mind is going to give Dai £30 million and pay separately for the stadium.

Dai is a oxf*rd and I wish him nothing but awful things, but the only purpose protesting serves now is to make people feel slightly better; like they did something as the club faded away. Which it very much sounds like it will unless by some miracle someone can untangle this absolute clusterfukk.

I

He also owes £500 million on a loan he took out to buy Evergrande shares, just before the firm's collapse.

He seems to have spent the last few years of his life like he's acting out a Chinese version of Brewster's Millions.


Not someone you’d want to predict the week’s lottery numbers is he?

ham
Member
Posts: 16
Joined: 30 Jan 2022 17:32

Re: #SellBeforeWeDai Action/Inaction Group

by ham » 18 Oct 2024 10:46

Sutekh
tmesis
ham Sadly, this is all such a mess that further protest seems utterly pointless. Dai wants to sell because he needs money, but can’t because he’s gambled away £50 million of the bank’s money. The Chinese bank want their money back but no one in their right mind is going to give Dai £30 million and pay separately for the stadium.

Dai is a oxf*rd and I wish him nothing but awful things, but the only purpose protesting serves now is to make people feel slightly better; like they did something as the club faded away. Which it very much sounds like it will unless by some miracle someone can untangle this absolute clusterfukk.

I

He also owes £500 million on a loan he took out to buy Evergrande shares, just before the firm's collapse.

He seems to have spent the last few years of his life like he's acting out a Chinese version of Brewster's Millions.


Not someone you’d want to predict the week’s lottery numbers is he?


It’s getting increasingly difficult to see us avoiding, at best, administration. And at worst, complete collapse.

Sutekh
Hob Nob Legend
Posts: 20253
Joined: 12 Feb 2014 14:05
Location: Undiscovered pyramid somewhere in Egypt

Re: #SellBeforeWeDai Action/Inaction Group

by Sutekh » 18 Oct 2024 13:45

Be positive


Forbury Lion
Hob Nob Subscriber
Hob Nob Subscriber
Posts: 9168
Joined: 14 Apr 2004 08:37
Location: https://youtu.be/c4sX57ZUhzc

Re: #SellBeforeWeDai Action/Inaction Group

by Forbury Lion » 21 Oct 2024 17:41

MartinRdg Was the stadium ever worth £55m?
Nope, although you have to factor in the value of the land for redevelopment, which I imagine isn't more than the value with the stadium on it once you factor in demolition and construction costs to create, presumably offices which are already two a penny next door in Green Park.

Didn't the club "sell" the stadium for £55m to the separate company at one point to try and fiddle Financial Fair Play? - ie the reason we got a points deduction? If so, the bank wouldn't be stupid enough to take a valuation based on the sale of the stadium from, effectively Dai Younge to Dai Younge would they?.... if so, maybe I could sell a dustbin to myself for £100m and then borrow £100m against it from that same bank to save Reading FC.... It does mean I may struggle to sell the bin and ultimately may see the bank take ownership of it, but I can live with that.

The bank may only be called out as incompetent if they reposes something that then turns out to be worth less than half it's value, so it may be in their interests not to do so.

2913 posts

Who is online

Users browsing this forum: No registered users and 194 guests

It is currently 24 Nov 2024 23:59