Jag4life Posted January 6, 2020 Share Posted January 6, 2020 Who’s the goalkeeper? 0 Quote Link to comment Share on other sites More sharing options...
Highlandmagyar 2nd Tier Posted January 6, 2020 Share Posted January 6, 2020 13 minutes ago, professor challenger said: Where did you read this? Estate of Euromillions winner set to be biggest ever dealt with by Scottish courts 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted January 6, 2020 Share Posted January 6, 2020 9 minutes ago, Highlandmagyar 2nd Tier said: Estate of Euromillions winner set to be biggest ever dealt with by Scottish courts 136 B · 4 downloads I can’t open that, but the length of time it takes to deal with the estate will be heavily influenced by how well ordered his will was. Given his level of wealth I assume his lawyers would have advised him of the the need/benefits of a detailed will. His recent matrimonial changes and the apparent suddenness of his death may impact that of course. 0 Quote Link to comment Share on other sites More sharing options...
Highlandmagyar 2nd Tier Posted January 6, 2020 Share Posted January 6, 2020 15 minutes ago, Granny Danger said: I can’t open that, but the length of time it takes to deal with the estate will be heavily influenced by how well ordered his will was. Given his level of wealth I assume his lawyers would have advised him of the the need/benefits of a detailed will. His recent matrimonial changes and the apparent suddenness of his death may impact that of course. Apologies. Will try to put it back on. 0 Quote Link to comment Share on other sites More sharing options...
theundisputedvoiceofreason Posted January 6, 2020 Share Posted January 6, 2020 46 minutes ago, Jag4life said: Who’s the goalkeeper? Graeme Smith. 0 Quote Link to comment Share on other sites More sharing options...
theundisputedvoiceofreason Posted January 6, 2020 Share Posted January 6, 2020 11 minutes ago, Highlandmagyar 2nd Tier said: Apologies. Will try to put it back on. It is what it is. No point fretting over what may or may not happen. The day to day running of the club will continue as normal. 0 Quote Link to comment Share on other sites More sharing options...
Ad Lib Posted January 6, 2020 Share Posted January 6, 2020 1 hour ago, professor challenger said: Where did you read this? The Telegraph: https://www.telegraph.co.uk/news/2019/12/28/charities-supported-161m-euromillions-winner-will-continue-receive/ Several plausible reasons the estate might be held up in the courts: (1) Complexities valuing it for tax and (to the extent relevant in the will) distribution purposes. (2) The fact that divorce proceedings didn’t appear to be concluded (though had begun) at the time of his death. (3) The fact he has children who might contest aspects of the will or seek to claim certain legal rights to the moveable estate instead of any legacy if they’d be better off doing so. (4) Ambiguity as to the relationship between the Three Black Cats and the wider estate. In addition to which we have the following questions that will affect the Club: (5) To what extent was Colin Weir of sound mind/to what extent were any decisions under power of attorney regarding the purchase of Thistle shares and the land done in a valid way. (6) To what extent is TBC and in particular its shareholding in Thistle shielded from claims from his family members under the Succession Act. (7) Was the transfer of the land back to the Club from Three Black Cats completed (and done so validly e.g. with the Land Registry) before Colin Weir’s death? We were told that would happen quickly but I’ve not seen formal confirmation of this. (8) Will the transfer of shares from TBC to a fan ownership vehicle be honoured and if so on what timescale given that those shares will now form part of an inheritance tax liable taxable estate. This all leaves to one side whether, how and to what extent the Board was willing to authorise additional expenditure in the January transfer window and where that money might have been expected to come from. 3 Quote Link to comment Share on other sites More sharing options...
Pull My Strings Posted January 6, 2020 Share Posted January 6, 2020 19 minutes ago, Ad Lib said: The Telegraph: https://www.telegraph.co.uk/news/2019/12/28/charities-supported-161m-euromillions-winner-will-continue-receive/ There's no actual news in that article, tbf, just some guy commenting that it sometimes takes a while to value a large estate. 1 Quote Link to comment Share on other sites More sharing options...
Mediocre Pundit Posted January 6, 2020 Share Posted January 6, 2020 That article is a pile of shite, just a guy wanting to get some free press. Regardless, and I know this is a forum, but it feels pretty distasteful to discuss the estate of our main benefactor before he’s even cold in the ground. What happens will happen, and we should be thankful for what he gave us. 7 Quote Link to comment Share on other sites More sharing options...
weetoonlad Posted January 6, 2020 Share Posted January 6, 2020 That article is a pile of shite, just a guy wanting to get some free press. Regardless, and I know this is a forum, but it feels pretty distasteful to discuss the estate of our main benefactor before he’s even cold in the ground. What happens will happen, and we should be thankful for what he gave us. The Baw is burst 0 Quote Link to comment Share on other sites More sharing options...
Big Dan Posted January 6, 2020 Share Posted January 6, 2020 https://ptfc.co.uk/ptfc-news/thistle-weir-youth-academy-now-expanding-their-team/ From the Official Site. Finances seem to be in place for the academy in the short to mid term at least. Thanks again to Colin Weir. 0 Quote Link to comment Share on other sites More sharing options...
thenolly Posted January 6, 2020 Share Posted January 6, 2020 55 minutes ago, Ad Lib said: The Telegraph: https://www.telegraph.co.uk/news/2019/12/28/charities-supported-161m-euromillions-winner-will-continue-receive/ Several plausible reasons the estate might be held up in the courts: (1) Complexities valuing it for tax and (to the extent relevant in the will) distribution purposes. (2) The fact that divorce proceedings didn’t appear to be concluded (though had begun) at the time of his death. (3) The fact he has children who might contest aspects of the will or seek to claim certain legal rights to the moveable estate instead of any legacy if they’d be better off doing so. (4) Ambiguity as to the relationship between the Three Black Cats and the wider estate. In addition to which we have the following questions that will affect the Club: (5) To what extent was Colin Weir of sound mind/to what extent were any decisions under power of attorney regarding the purchase of Thistle shares and the land done in a valid way. (6) To what extent is TBC and in particular its shareholding in Thistle shielded from claims from his family members under the Succession Act. (7) Was the transfer of the land back to the Club from Three Black Cats completed (and done so validly e.g. with the Land Registry) before Colin Weir’s death? We were told that would happen quickly but I’ve not seen formal confirmation of this. (8) Will the transfer of shares from TBC to a fan ownership vehicle be honoured and if so on what timescale given that those shares will now form part of an inheritance tax liable taxable estate. This all leaves to one side whether, how and to what extent the Board was willing to authorise additional expenditure in the January transfer window and where that money might have been expected to come from. On point 8. If this is the case that could mean that the fans or TFE would need to come up with 40% of the value of shares and land (Total rumored to be around the £5 million mark), which could be £2 million 0 Quote Link to comment Share on other sites More sharing options...
Ad Lib Posted January 6, 2020 Share Posted January 6, 2020 28 minutes ago, Mediocre Pundit said: That article is a pile of shite, just a guy wanting to get some free press. Regardless, and I know this is a forum, but it feels pretty distasteful to discuss the estate of our main benefactor before he’s even cold in the ground. What happens will happen, and we should be thankful for what he gave us. I don’t think it’s disrespectful to point out that there are some potential spanners in the works for the ownership and finances (and by extension the continued existence and functioning) of the football club, which Weir had only recently purchased, while in ill health, and with other legal proceedings having been ongoing. None of this detracts from his generosity or disrespects his memory. They are matters having a bearing on the employment of something like 40+ people, and the continued existence of the football club. 10 Quote Link to comment Share on other sites More sharing options...
Ad Lib Posted January 7, 2020 Share Posted January 7, 2020 (edited) 8 hours ago, thenolly said: On point 8. If this is the case that could mean that the fans or TFE would need to come up with 40% of the value of shares and land (Total rumored to be around the £5 million mark), which could be £2 million No that’s not how inheritance tax works. It’s paid by the executors on the estate as a whole, not as such by any would-be beneficiaries (if indeed we assume that the Weir will does in fact provide that Partick Thistle or any body connected with it should be a beneficiary). There might, I suppose, be a scenario under which there is pressure to preserve (or even to liquidate) some of the Three Black Cats’ assets, so as to maximise what is available to be distributed to other beneficiaries after the payment of inheritance tax. The fact that TBC has been designed as a vehicle to protect a lot of Weir’s financial activity probably suggests there are tax efficient arrangements connected with it. Whether the shares TBC holds in Thistle will be transferred to another entity, on what terms and at what cost will ultimately depend on: (1) What legal obligations TBC has already undertaken regarding the transfer of those undertakings and whether those are still enforceable (2) To what extent the will makes arrangements for what happens to TBC (3) To what extent those arrangements are compatible with other commitments in the will or other obligations of the executors of the estate (4) What any party ending up with a beneficial interest in TBC ends up deciding to do with it and its assets. Edited January 7, 2020 by Ad Lib Edited to remove stuff about specific tax reliefs TBC might attract as it’s a newer company than I’d realised. 1 Quote Link to comment Share on other sites More sharing options...
jagfox Posted January 7, 2020 Share Posted January 7, 2020 Various outlets confirming we are after Dundee United fringe player Cammy Smith on a loan deal. 1 Quote Link to comment Share on other sites More sharing options...
JustDom Posted January 7, 2020 Share Posted January 7, 2020 3 hours ago, jagfox99 said: Various outlets confirming we are after Dundee United fringe player Cammy Smith on a loan deal. I wonder if it will be a loan with an option to buy. It doesn't really make sense for him to stay at the club if he's a fringe player now, I doubt he'll get much of a sniff in the SPL. Would be a decent signing whether it be on loan or permanent IMO. 0 Quote Link to comment Share on other sites More sharing options...
Somerset Boab Posted January 7, 2020 Share Posted January 7, 2020 Looks like you Stevie Bell is away to you guys in the summer, gutted to lose him great solid player. 0 Quote Link to comment Share on other sites More sharing options...
D'Jaffo Posted January 7, 2020 Share Posted January 7, 2020 Looks like you Stevie Bell is away to you guys in the summer, gutted to lose him great solid player.You not got anymore shite songs to write? 0 Quote Link to comment Share on other sites More sharing options...
jagfox Posted January 7, 2020 Share Posted January 7, 2020 Another underwhelming rumour 0 Quote Link to comment Share on other sites More sharing options...
D'Jaffo Posted January 7, 2020 Share Posted January 7, 2020 Another underwhelming rumour It’s not a rumour, it’s bullshit. He’s PT, almost finished at this level and will most likely be let go at the end of the season. You’re more than welcome to him but McCall will be looking for better. 1 Quote Link to comment Share on other sites More sharing options...
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