Supreme Court rules against the McCanns in damages case.

[Mr Gray]

exactly the mcanns cant  wave a magic  wand and  make this  vanish can they? they are having  to face  a  real possibility of being bankrupt  from this

thats it...spend a year bankrupt........I believe the fund is able to support them.......then make several million pounds for the film rights

[Alice Purjorick]

I'm interested in your opinion on this part of Director's loans:-

A director’s loan is when you (or other close family members) get money from your company that isn’t:

a salary, dividend or expense repayment
money you’ve previously paid into or loaned the company

It will be in here somewhere:
https://www.gov.uk/running-a-limited-company/taking-money-out-of-a-limited-company

[misty]

It will be in here somewhere:
https://www.gov.uk/running-a-limited-company/taking-money-out-of-a-limited-company

That's where I got the quote from. You're not allowed to take out more money than you've put in. So the McCanns could withdraw £Y as long as it's less than £Z they've put in without it becoming a Director's Loan - yes? There are no shareholders to consider.

[Brietta]

That's where I got the quote from. You're not allowed to take out more money than you've put in. So the McCanns could withdraw £Y as long as it's less than £Z they've put in without it becoming a Director's Loan - yes? There are no shareholders to consider.

They are allowed to withdraw without prejudice, what is in effect their own money?  Is that correct?

[Alice Purjorick]

That's where I got the quote from. You're not allowed to take out more money than you've put in. So the McCanns could withdraw £Y as long as it's less than £Z they've put in without it becoming a Director's Loan - yes? There are no shareholders to consider.

Try in here as well then:
https://www.gov.uk/directors-loans/overview

It is really irrelevant though
The McCanns names were on the writ as plaintiffs, the court ruled the plantiffs lost the case ergo they have to cough up what the court tells them to. Where the dosh actually comes from is largely irrelevant to the court.

As we don't know with any degree of certainty the details of any transactions within "The Company" we are guessing anyway.
Powers 2C7 through  2C11 are interesting [refer Articles of Association].

[Alice Purjorick]

They are allowed to withdraw without prejudice, what is in effect their own money?  Is that correct?

It is not correct carte blanche It may be under certain circumstances.
Read all the Companies House stuff to get a proper picture a nd read what it says and not what you want it to say. If there are defitinitions read them first to understand what they mean.

[slartibartfast]

out of adversity......I think the mccanns will come back stronger...sometimes it takes a kick in the teeth to give you the energy and desire to carry on...anyone who writes off the mcCanns is a fool imo...they will continue the search for their daughter and I wish them the best of luck

Is that continue to search or start to search...

[Brietta]

It is not correct carte blanche It may be under certain circumstances.
Read all the Companies House stuff to get a proper picture a nd read what it says and not what you want it to say. If there are defitinitions read them first to understand what they mean.

In other words ... without enrolling  for a degree in accountancy ... what is put in by an authorised person can be taken out without let or hindrance by that authorised person.

[slartibartfast]

There's an old saying, "when you are in a hole stop digging". The McCanns have failed in their actions against Amaral. If they continue to fight this battle they will just get into deeper problems. As I have said before, if they had ignore it to start with, no one in the U.K. Would have heard of it.

[Eleanor]

There's an old saying, "when you are in a hole stop digging". The McCanns have failed in their actions against Amaral. If they continue to fight this battle they will just get into deeper problems. As I have said before, if they had ignore it to start with, no one in the U.K. Would have heard of it.

Not my point at all.

[Brietta]

There's an old saying, "when you are in a hole stop digging". The McCanns have failed in their actions against Amaral. If they continue to fight this battle they will just get into deeper problems. As I have said before, if they had ignore it to start with, no one in the U.K. Would have heard of it.

Can't you see that the McCanns have already won.

After a long haul their efforts ... and theirs alone ... have achieved the feat of getting the Policia Judicaria and the Met to investigate ~ reopen Madeleine's case ~ and conduct an intensive search for her.

The world has watched that happen and note has been taken of the implications of that.

I would imagine that the verdict of the supreme court might be puzzling to people who are living in the present and not in the past.
My opinion of the Portuguese judgement couldn't be lower but that is of no import, the danger for Portugal may be that world opinion may also reflect that by what if nothing else is a monumental PR mess.

There is indeed much more than the money awarded to the defendant by the court to be considered here.

[Alice Purjorick]

In other words ... without enrolling  for a degree in accountancy ... what is put in by an authorised person can be taken out without let or hindrance by that authorised person.

No! The Board of Directors run the company and are accountable at law for their actions. Repayment of a directors loan ahead of other creditors could under certain circumstances be see as preferential which is a nono and the whole board could find themselves in the mire. Read the documents and be better informed; or don't and believe what you want to believe as the case may be, it really is of no consequence to me.
The issue is the McCanns lost the case and will have to pay whatever the court tells them to pay.
It may bankrupt them and "The Fund" then on the other hand it may not, again it is of no consequence to me and never has been; I get perverse delight in watching people try to tell me that in the PdL Bubble up is down down is up and the sun rises in the west.
"The Fund's" accounts are very transparent we are perpetually told so take a look in there and work it all out for yourself.

[Alice Purjorick]

Can't you see that the McCanns have already won.

After a long haul their efforts ... and theirs alone ... have achieved the feat of getting the Policia Judicaria and the Met to investigate ~ reopen Madeleine's case ~ and conduct an intensive search for her.

The world has watched that happen and note has been taken of the implications of that.

I would imagine that the verdict of the supreme court might be puzzling to people who are living in the present and not in the past.
My opinion of the Portuguese judgement couldn't be lower but that is of no import, the danger for Portugal may be that world opinion may also reflect that by what if nothing else is a monumental PR mess.

There is indeed much more than the money awarded to the defendant by the court to be considered here.

Is this the latest from "The Brill Building" ?

[Brietta]

No! The Board of Directors run the company and are accountable at law for their actions. Repayment of a directors loan ahead of other creditors could under certain circumstances be see as preferential which is a nono and the whole board could find themselves in the mire. Read the documents and be better informed; or don't and believe what you want to believe as the case may be, it really is of no consequence to me.
The issue is the McCanns lost the case and will have to pay whatever the court tells them to pay.
It may bankrupt them and "The Fund" then on the other hand it may not, again it is of no consequence to me and never has been; I get perverse delight in watching people try to tell me that in the PdL Bubble up is down down is up and the sun rises in the west.
"The Fund's" accounts are very transparent we are perpetually told so take a look in there and work it all out for yourself.

Hmmm ... it seems you know as much about it as I do.

One question you may actually be able to answer though ... what exactly is the "The Brill Building"?

[misty]

Hmmm ... it seems you know as much about it as I do.

One question you may actually be able to answer though ... what exactly is the "The Brill Building"?

https://en.wikipedia.org/wiki/Brill_Building

I'm not quite sure what off-beat connection Alice was making with your post but I suspect he has shares in Google.