Reply To: THE EMBARGO

Iron Bru Forums Blast Furnace THE EMBARGO Reply To: THE EMBARGO

#230937
HeckIronHeckIron
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Registered On: October 13, 2021
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Swann has ALWAYS owned the stadium and land. That’s what an OWNER is.

Correct me if I am wrong here (I am not an expert), but as the company (SUFC) is a PLC, the company owns the assets. If Mr. Swann is the only (or major) shareholder, he would own the business BUT NOT the assets as he and the PLC are separate legal entities. That’s what a SOLE or GROUP OF SHAREHOLDERS is. He/they own’s the company. THE COMPANY OWN’S THE ASSETS.

I have no knowledge or real understanding of how the transfer of assets actually happened, but let’s take an example and assume that, as the owner of SUFC PLC, Mr. Swann has overseen the transfer of SUFC PLC assets to Coolsilk in order to pay off incurred “debts”. If Coolsilk is also a PLC (and I haven’t bothered to check) of which Mr. Swann is the sole or major shareholder, that company now own’s the stadium and land – NOT MR. SWANN, they are separate legal entities.

Therefore, Mr. Swann would NEVER have legally owned the stadium and land!