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> Milan sale to go through!, Chinese consortium to acquire for 700 MM Euros

 
Danny
post Apr 17 2017, 09:14 PM
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QUOTE (Jack Sparrow @ Apr 17 2017, 12:30 PM) *
It might well be. We might have replaced Italian gangsters with Chinese. (IMG:style_emoticons/default/laugh.gif)


That optimism of yours lasted long (IMG:style_emoticons/default/tongue.gif)
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han2503
post Apr 18 2017, 06:22 AM
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QUOTE (Danny @ Apr 17 2017, 09:14 PM) *
That optimism of yours lasted long (IMG:style_emoticons/default/tongue.gif)

It crossed my mind, but I would think if Silvio wanted to launder money he'd do it in a less public setting.

Now that it's finally done and dusted, I think it's legit. The true test is to see how the club is run over the next few years. And us, as fans, can't really do anything but watch and hope that the club is in good hands
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Rossoneri7
post Apr 20 2017, 06:46 PM
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So there is a curve ball to this deal. This Elliot hedge fund based in the US granted 330M to close the deal. The same carries interest of over 11% and is due to be paid back in a year and a half from now as a single payment. The Elliot hedge fund will have no power over the board and will not dictate transfers. Instead receive a written report every two months on the progress and increase in value of the 99.9% shares owned by Rossoneri Sport Lux.

If the new owners fail to pay the 330M back in a year and a half from now, the 99.9% shares in Milan will be transferred to Elliot hedge fund whom will likely sell it off in the market.

That is; things could get ugly if the Chinese don't get their capital released from China in time.
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Jack Sparrow
post Apr 21 2017, 11:59 AM
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QUOTE (Rossoneri7 @ Apr 21 2017, 01:16 AM) *
So there is a curve ball to this deal. This Elliot hedge fund based in the US granted 330M to close the deal. The same carries interest of over 11% and is due to be paid back in a year and a half from now as a single payment. The Elliot hedge fund will have no power over the board and will not dictate transfers. Instead receive a written report every two months on the progress and increase in value of the 99.9% shares owned by Rossoneri Sport Lux.

If the new owners fail to pay the 330M back in a year and a half from now, the 99.9% shares in Milan will be transferred to Elliot hedge fund whom will likely sell it off in the market.

That is; things could get ugly if the Chinese don't get their capital released from China in time.



Surely not. Surely only the 330MM worth of shares will get transfered. They can sell it or put it on the stock market to get their cash back.

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Rossoneri7
post Apr 21 2017, 12:55 PM
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QUOTE (Jack Sparrow @ Apr 21 2017, 02:59 PM) *
Surely not. Surely only the 330MM worth of shares will get transfered. They can sell it or put it on the stock market to get their cash back.


Apparently 99.9% of Milan shares is the agreement, as security.
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han2503
post Apr 23 2017, 06:25 AM
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QUOTE (Rossoneri7 @ Apr 21 2017, 12:55 PM) *
Apparently 99.9% of Milan shares is the agreement, as security.

Yep

I think this is a common practice, for example when we loan money from a bank here in Malta and it's a substantial amount, you have to make a guarantee (for example your home). If you fail to make your payments, then the bank WILL repossess your home, even if the amount you borrowed is half of what your home is worth
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d'Arc.LP
post Apr 24 2017, 11:15 AM
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QUOTE (han2503 @ Apr 23 2017, 08:25 AM) *
Yep

I think this is a common practice, for example when we loan money from a bank here in Malta and it's a substantial amount, you have to make a guarantee (for example your home). If you fail to make your payments, then the bank WILL repossess your home, even if the amount you borrowed is half of what your home is worth


It all depends on the agreement. As a lawyer, I can say that this is not the case in most of the times. Every country has it's own law for execution by which they regulate the procedure of the execution of the debts (or other credits). Usually, for your example, when they sell your home in auctions, they take the money that you own, all the expences of the procedure and they give you the rest. I have not read the contract, but I think that the same way has been regulated the situation of the club. If it would be as you say, it would be a situation when we get "unbiased enrichment" and "damage beyond measure".

BTW the bank will never own your home, it will just get the right to sell it, but never become an owner (IMG:style_emoticons/default/smile.gif) I don't have much time to explain and my english is not in proper levlel.

EDIT: I forgot to mention, when an international transaction takes place, usually they have clauses in contracts that determine what court is competent to hear the case if any of the party doesn't fulfill their obligation. Usually they are arbitration courts that regulate their procedure by the rules contracted and not some law of any country. As the principle says "contract is the law for parties".

This post has been edited by d'Arc.LP: Apr 24 2017, 11:17 AM
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Fillipo Simone
post Apr 25 2017, 11:26 PM
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I hear Panucci might be involved in our staff as a team manager [FI]. Would be fine with me.
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Jack Sparrow
post Apr 26 2017, 12:26 PM
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QUOTE (Fillipo Simone @ Apr 26 2017, 05:56 AM) *
I hear Panucci might be involved in our staff as a team manager [FI]. Would be fine with me.


Rino Gatuso or GTFO! (IMG:style_emoticons/default/laugh.gif)
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han2503
post Apr 28 2017, 07:50 PM
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QUOTE (d'Arc.LP @ Apr 24 2017, 11:15 AM) *
It all depends on the agreement. As a lawyer, I can say that this is not the case in most of the times. Every country has it's own law for execution by which they regulate the procedure of the execution of the debts (or other credits). Usually, for your example, when they sell your home in auctions, they take the money that you own, all the expences of the procedure and they give you the rest. I have not read the contract, but I think that the same way has been regulated the situation of the club. If it would be as you say, it would be a situation when we get "unbiased enrichment" and "damage beyond measure".

BTW the bank will never own your home, it will just get the right to sell it, but never become an owner (IMG:style_emoticons/default/smile.gif) I don't have much time to explain and my english is not in proper levlel.

EDIT: I forgot to mention, when an international transaction takes place, usually they have clauses in contracts that determine what court is competent to hear the case if any of the party doesn't fulfill their obligation. Usually they are arbitration courts that regulate their procedure by the rules contracted and not some law of any country. As the principle says "contract is the law for parties".

Got it, I'm not really into the financial mumbo-jumbo of it all. I just know that here, the bank will repossess whatever you guaranteed when the loan was made, don't know the actual technicalities of it. Thanks for explaining, and glad you're back btw

Yeah, heard the Panucci rumours. The management should really make sure to bring back more past players who have a great history with us into the fold, we need to keep our identity as much as possible

Rino has already said he'd be interested, also, how's Sheva doing with that political career? If it's not going well he'd be a great guy to rope in, especially for Eastern European connections. Also, what's Leonardo doing these days? I'd love to have him back in his old role, he was great at attracting SA talents
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d'Arc.LP
post Apr 28 2017, 08:01 PM
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QUOTE (han2503 @ Apr 28 2017, 09:50 PM) *
Got it, I'm not really into the financial mumbo-jumbo of it all. I just know that here, the bank will repossess whatever you guaranteed when the loan was made, don't know the actual technicalities of it. Thanks for explaining, and glad you're back btw


Thanks (IMG:style_emoticons/default/smile.gif)
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Jack Sparrow
post Apr 30 2017, 12:24 PM
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QUOTE (han2503 @ Apr 29 2017, 02:20 AM) *
Got it, I'm not really into the financial mumbo-jumbo of it all. I just know that here, the bank will repossess whatever you guaranteed when the loan was made, don't know the actual technicalities of it. Thanks for explaining, and glad you're back btw

Yeah, heard the Panucci rumours. The management should really make sure to bring back more past players who have a great history with us into the fold, we need to keep our identity as much as possible

Rino has already said he'd be interested, also, how's Sheva doing with that political career? If it's not going well he'd be a great guy to rope in, especially for Eastern European connections. Also, what's Leonardo doing these days? I'd love to have him back in his old role, he was great at attracting SA talents


I don't think Sheva is doing much politics. He's the manager of the Ukraine football team. It's Kakha Kaldaze who's into politics and apparently he's doing quite well.
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