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Limited Liability

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75 replies to this topic

#1
offline Guest__*

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In the closed season wouldn't it be a good idea if the league obtained limited liability status? It allows the league officers to rule the clubs effectively rather than the other way around!

#2
offline matthew oliver

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whata are u on about? wat is limited liability status?

#3
offline Cyclops

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</font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by matthew oliver:
<strong>whata are u on about? wat is limited liability status?</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">This is associated with the identity of a company being distinct from the members that own it, and reflects the position that the owners of the company are only liable for a limited amount of the company's debt if it gets liquidated.

Personally I think that, unless they have already done so, the ESL should be looking at employee liabilities and indemnity insurance, obviously making sure that there is no chance of it being a taxable benefit (but any insurance company worth its salt should be wise to that anyway).

#4
offline matthew oliver

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ohhhhhhh?

#5
offline Cyclops

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</font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by matthew oliver:
<strong>ohhhhhhh?</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">I suspect that is a "Still don't understand"-type "ohhhhhhh?"

#6
offline Badger

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So, basically, it would be a way for the league to be run in a fashion similar to other leagues? No one team or individual can become more powerful than the league itself?

#7
offline The Invisible Man

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With LL status comes the legal fiction of corporate identity.

#8
offline Badger

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</font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by the invisible man:
<strong>With LL status comes the legal fiction of corporate identity.</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">So they make it up as they go along?

#9
offline The Invisible Man

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No, that's what they do now!

#10
offline matthew oliver

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sounds like a good idea- we dont want the esl becoming like the spl. but this is a bloody rubbish conversation, it makes us sound like a bunch of anoraks

#11
offline Cyclops

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</font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by matthew oliver:
<strong>sounds like a good idea- we dont want the esl becoming like the spl. but this is a bloody rubbish conversation, it makes us sound like a bunch of anoraks</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">What you mean is that we know what we're talking about, you don't and you feel left out. It isn't a rubbish conversation, it is a discussion about something which could be very important to the league.

#12
offline matthew oliver

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oh come off it, if it was that important it would be on the news. even you have to admit that not many people give a cr ap about the esl, or even heard of it, apart froms the few minor teams and the couple of hundred fans.

yeah ok, i might not totally get the drift but no ones gonna make a big fuss if all the teams go to pot or something.

#13
offline Cyclops

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</font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by matthew oliver:
<strong>oh come off it, if it was that important it would be on the news. even you have to admit that not many people give a cr ap about the esl, or even heard of it, apart froms the few minor teams and the couple of hundred fans.

yeah ok, i might not totally get the drift but no ones gonna make a big fuss if all the teams go to pot or something.</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">Read my message little boy. I said this is something which could be very important to the league. We're not talking about what happens if a couple of clubs go to pot, we are talking about the league covering its back so that if it goes down the swanny the officers of the league won't stand any chance of being bankrupted by it. If a league goes to the wall through bad management or for some other reason of its own making, the clubs will go elsewhere (and other leagues will want to take the for the PR value if for no other reason).

As for the couple of hundred fans… well, the consequences of an FA affiliated league being forced into liquidation trying to protect itself against the actions of either member clubs or the courts have far wider implications, as they found out in Greece when the government tried to interfere with the Greek FA. FIFA threatened to suspend all Greek teams, including the national side, from competition. If a league has limited liability then anyone considering litigation is going to be well aware that there might not be that much worth liquidating, even if they couldn't give a monkey's about all FA affiliated facing the threat of suspension, so they are less likely to try.

I think, "i might not totally get the drift" has to be one of the understatements of the year.

#14
offline Badger

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So why would anyone set up a league without limited liability when you consider the possible dangers it causes. Is it a matter of the cost involved, or are there potential advantages if there are organised a different way?

#15
offline Mr Happy

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</font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by Badger:
<strong>So why would anyone set up a league without limited liability when you consider the possible dangers it causes. Is it a matter of the cost involved, or are there potential advantages if there are organised a different way?</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">Gaining Limited Liability status is easy. The league just has to register with Companies House and appoint it's directors. It cost me about £120 when I did it for my company.

<img border="0" title="" alt="[Smile]" src="images/icons/smile.gif" /> <img border="0" title="" alt="[Smile]" src="images/icons/smile.gif" /> <img border="0" title="" alt="[Smile]" src="images/icons/smile.gif" /> <img border="0" title="" alt="[Smile]" src="images/icons/smile.gif" /> <img border="0" title="" alt="[Smile]" src="images/icons/smile.gif" /> <img border="0" title="" alt="[Smile]" src="images/icons/smile.gif" /> <img border="0" title="" alt="[Smile]" src="images/icons/smile.gif" /> <img border="0" title="" alt="[Smile]" src="images/icons/smile.gif" />

Shreddies do not keep hunger locked up till lunctime!

#16
offline Cyclops

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</font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by Badger:
<strong>So why would anyone set up a league without limited liability when you consider the possible dangers it causes. Is it a matter of the cost involved, or are there potential advantages if there are organised a different way?</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">It's usually a prestige thing, because limited liability companies are considered to be less trustworthy by some people (not so much now but they certainly used to be), or they are scared of the paperwork or else they simply didn't think about it.

#17
offline Pavagrotti

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So Matthew who said this web-site wouldn't expand your education. You never know it might expand the education of the league officers to.

Mr officers we really do have your best interests at heart

One thing is certainly not in doubt and that is they care about this league!

<small>[ 22 May 2002, 07:04 AM: This message was edited by: Cleggy ]</small>

#18
offline BOROMAN

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I suppose this is all in preperation for our return!

#19
offline Pavagrotti

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Don't think so Boroman, unless you want it to be so! More like just moving with the times.

I'm looking forward to our first game.

#20
offline Willow Street Ender

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Hi Cleggy,

Seems to me that Enfield TFC have almost total domination of this and most other topics on the ESL forum. Where are all the other member clubs' contributions? I think the Romford fans will join y'all once the new season gets underway. Looking forward to our coming together.
Up the Boro'




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