Big Al

Martin Rogers, Sam Ermolenko, come back and sort out this crock of s##t.

....or Leicester Speedway Ltd was prioritising trying to pay-off the mortgage to the bank.......maybe a combo of both? Anyway, going to be interesting to find out if a new company is formed or comes along to take things over, or whether LS Ltd survives and continues to run it.

I thought the interview DD gave to RL began with him sounding less than convincing about 2017, but at the end he was being far more definite and of course he cannot be more specific at the moment. He also said I think, the riders will be paid by the end of October, but it's a shame the interviewer missed the chance to ask if that means "paid in full" or just paid something. Again, he couldn't be more specific about the "off-track problems", but did refer to D.Hemsley's Architect businesss in that context. I think it's called Sporting Lion Ltd. Maybe he was so busy with it, that his time and attention for speedway suffered. And/ or maybe that business was having difficulties. If it was the latter, then Sporting Lion Ltd may have been calling-in money owed to it by Leicester Speedway from back in 2010/2011 for the cost of their/D.Hemsley's services, leaving the coffers of Leicester Speedway a bit short this year. But not having access to any accounts, i couldn't possibly comment on that. Credit to DD for at least being honest, if a bit belatedly.

All that KL will probably need is 3 bikes between them, to get a 75-0 win

Ok, so put David Hemsley in the Stocks.....and who else? Come on man, name names

May as well count it as both an NL and EL match, with the Leicester team composed entirely of guest riders from Stoke.

With the defensive/aggressive stance of the PZM and its leading clubs, is it time for closer co-operation between the UK and Denmark? It seems they are the two most vulnerable leagues in this scenario.

As Happy Hunter says, there are two companies, they are both limited companies. I'm presuming Kye1 is talking about Leicester Speedway Ltd. The move by D.Hemsley to increase his shareholding does seem designed to give him control following his resignation as a director. I wonder if this has anything to do with the reported divorce (either forthcoming or current) between the Hemsleys, with the possibility of the company being sold. Sounds like Kye1 does need to study those Articles of Association carefully and get in touch with the other shareholders. Would be interesting to know if there has ever been any dividend paid to shareholders, I somehow doubt it!!!

Same with Leicester where D.Hemsley's company (supposedly) has a lease but isn't the landowner, and Y.Hemsley's company (supposedly) runs speedway.But that could all change......

I suppose they're all mercenaries now, eh? Like "real" mercenaries, it can all end very suddenly.

You can hardly blame anyone for being reluctant to stage speedway there while D.Hemsley is still the landlord, with his reputation. The City Council must have ample grounds for revoking the lease on the land which his company holds, and which he has desecrated so badly and failed to deliver on most of the associated planning requirements.

I suppose we will all have to wait till either or both of them have written the book and sold the film rights. They're sure to fly off the shelves at Tesco and The Works!!

Yes, I gather that is the case. The Council's legal department are possibly working on this, if not then maybe they should be.I'm a bit out of date with these things, but if there is no Company Secretary, does a company become illegitimate? It looks as though LS Ltd could have been using one of those "business services" type of companies to fulfil the Company Secretary requirement. Maybe there's a replacement lined up and will be appointed, but normally the resignation/new appointment are both listed as happening on the same day. Which leads you to suspect to these are not normal circumstances.

Legally I think that's correct. But BSC Ltd has to my knowledge never traded from day one, and Leicester Speedway Ltd has been acting (and allowed to act) as though it is both the leaseholder and speedway operator. Far be it from me to suggest the Council has allowed this to happen, either by failing to understand the difference between the two companies or by just plain turning a blind eye to it. Whatever, the inevitable seems as if it could now be happening,chickens finally coming home to roost, and the Council may become leaseholder and landlord if they go about it in the correct way.

Resigned as promoter - yes that's old news. If kye1 is right, he has now resigned as director of the company which owns the club. But is he still the main shareholder? Have Mr and Mrs H fallen out with each other??

Chris Harris is the Norman Wisdom of speedway, little underdog guy who keeps on bouncing back no matter what gets thrown at him. He must be every team manager's ideal rider.

I get the feeling that the BSPA is now trying to run this match. May come down to if they can scrape together 6 or 7 riders to form a Leicester side and muster enough people to staff the meeting.

For the best part of 3 seasons I had an increasing feeling of idiocy, then just three times last year and I knew I was an idiot. And I only live 2 miles away

Mimmo have you tried Ibis Birstall, may be a bit cheaper and close to the stadium. Or maybe Mrs Hemsley can throw in some free accommodation as well??

Like the Swedish meeting Lindgren supposedly had a few weeks ago?? :-*

Well Flagrag to me it seems like DH is spitting out his dummy because of all of the perceived "injustices" he believes to have been perpetrated against him/Leicester. Trying to mitigate his losses by withholding payments due to riders whilst his company is apparently still trading. This seems to include attempting to "use" the bond money as a way of paying the riders, whereas that money is probably only for use in circumstances where the Company has become legally insolvent/has ceased trading. Meanwhile, the riders are trapped in the middle and are left with no option but to keep turning up because if they didn't, they'd be banned. Seems that if Leicester Speedway Ltd went into Administration that would resolve many of the problems but at the moment it looks like that would not be in DH's own interests and so he is trying to keep it afloat, including trying to use every trick in the book!

As DH is no longer the promoter, but still owns the club (Leicester Speedway Ltd), that of course leaves Messrs Darcy and Machin (according to the website) as the promoters. So have those two inherited responsibility for paying riders? They are not directors of LS Ltd so are presumably acting as individuals in their capacity as promoters and not as a company, approved by the BSPA. Presumably the gate takings don't go to Darcy and Machin, but still to Hemsley?? If so isn't he still responsible for paying the riders?

Just to hark back to flagrag's posts - he says the bond comes into effect when a club is "unable" to make payments to riders (and perhaps other parties). Does anyone know what actually constitutes "unable"......does it include temporary cash shortage, or does it mean when the company has actually gone into administration or liquidation? Is suspect it is the latter, in which case as Leicester Speedway Ltd is still apparently trading, the riders and others would not currently have access to obtaining money owed from the bond. I also suspect that if DH is trying to say he is no longer liable because he is no longer the promoter (for whatever reason), that is a red herring because he remains a director of Leicester Speedway Ltd, and as such would still be legally liable for payments due by Leicester Speedway Ltd (whilst it is still trading). From what Flagrag says, the loan from HSBC is almost paid off now (but it still shows as being "live"), but I still suspect that HSBC could be putting the squeeze on. There is another possibility as regards where income is going. Its quite commonplace with these sort of companies, for the proprietor/director to build into the company's debts a sum of money to re-imburse that person from the company's income for "professional services" that he himself has provided in setting up the company and developing it (in terms of time and expertise). In this case, the person would be David Hemsley, and he takes out what he is "owed". Perfectly legitimate, by the way. Maybe that's what has been happening recently. Think Philip Green and BHS but on a far smaller scale.

It doesn't look like Leicester Speedway is (yet) in the hands of official insolvency administrators. But I'd be surprised if HSBC hasn't been going in hard to try and get their money back, or at least some of it.So what are the circumstances in which the BSPA bond is drawn on, to pay riders points money owed? Does the speedway company (with which the riders have a contractual relationship) need to have actually become officially insolvent by going into Administration or Liquidation, or does it just need the company owner to just say "sorry folks, not my problem any more". It sounds a bit like Hemsley is trying to do the latter, and I'm not sure he can just get away with doing that. He is still (along with his wife and 1 other) a director and refers to himself as the owner of Leicester Speedway. So surely the riders still have a contractual relationship with him/Leicester Speedway and cant be fobbed off if, as you say, he's telling them to go to the BSPA? My bet is HSBC

I hope the takings from the match yesterday enable anyone who may be owed money by Leicester speedway to be paid soon.