Reform On Brink Of Major Resignation As Nigel Farage Ousts Ben Habib

[Borg Refinery]

How Do I Know If Something Is a Liability?

A liability is anything that's borrowed from, owed to, or obligated to someone else. It can be real like a bill that must be paid or potential such as a possible lawsuit. A liability isn't necessarily a bad thing. A company might take out debt to expand and grow its business or an individual may take out a mortgage to purchase a home.

https://www.investopedia.com/terms/l/liability.asp#:~:text=Liabilities%20are%20the%20obligations%20and,which%20would%20create%20a%20liability.

[Unlucky4Sum]

As the UK Government definition put it:  'A company is insolvent when it can't pay its debts.'

[Unlucky4Sum]

Debts only become liabilities when payments on them become due and that depends on the terms of the loans or credit etc.

We don't know the terms of the loans Tice has made

[Borg Refinery]

Investopedia are lying

https://www.investopedia.com/terms/a/accounting_insolvency.asp

What Is Accounting Insolvency?
Accounting insolvency refers to a situation where the value of a company's liabilities exceeds the value of its assets. Accounting insolvency looks only at the firm's balance sheet, deeming a company "insolvent on the books" when its net worth appears negative.

Also known as technical insolvency, a company can have the value of its liabilities rise at a faster rate than that of its assets due to increased debts or borrowings. This differs from actual insolvency, or cash flow insolvency, which occurs when a company is unable to make promised payments to vendors or lenders.

Moneyterms.co.uk are lying

Technical insolvency

If a company (or person) is technically insolvent that merely means that it has a negative net asset value; its liabilities are greater than its assets. The significance of technical insolvency depends on circumstances: it may be an indicator of serious problems that may lead to actual insolvency, or it may be perfectly acceptable.

https://moneyterms.co.uk/technical-insolvency/

https://www.collinsdictionary.com/us/dictionary/english/technically-insolvent

Whatever

The dictionary, money terms, investopedia are making it all up.

And the EU isn't a political union according to any Common Sense Definition ;D

[Unlucky4Sum]

Technically insolvent, also known as factual insolvency, means that a company's liabilities (debts) are greater than its assets (what it owns).

Nope

[Borg Refinery]

Technically insolvent, also known as factual insolvency, means that a company's liabilities (debts) are greater than its assets (what it owns).

[Unlucky4Sum]

If Tice is happy to bank role the Party I don't see the problem . If they want to be financed by other means they will probably need to restructure and have an elected NEC . That's something Farage has tried to avoid given the problems of the past with UKIP but I guess if they want to make a serious challenge they will have to become a proper democratic party at some point

Ben Habib is still a member of the Reform Party

Exactly and there's no real evidence it is insolvent.  If anyone is bankrolling it he's entitled to have a serious role.  Any loans would only be theatening liabilities if there was any propect of a legal demand for immediate repayment.

[Borg Refinery]

Well that's good, I guess Habib's strong slagging off of the party never happened

https://www.gbnews.com/politics/ben-habib-speaks-out-reform-uk-sacked-deputy-leader-nigel-farage

Wonder if the party will self-destruct with rage

[Streetwalker]

Reform UK Repays £200k to Side-Lined Leader Days After Nigel Farage Dethrones Him
Looks like Reform UK's a bit of a sham if it's insolvent. Or if it's just pretending to be, either way..

If Tice is happy to bank role the Party I don't see the problem . If they want to be financed by other means they will probably need to restructure and have an elected NEC . That's something Farage has tried to avoid given the problems of the past with UKIP but I guess if they want to make a serious challenge they will have to become a proper democratic party at some point 

Ben Habib is still a member of the Reform Party 

[Borg Refinery]

Reform UK Repays £200k to Side-Lined Leader Days After Nigel Farage Dethrones Him

A few warning lights are flashing over Reform UK's latest accounts filed with Companies House.

The accounts show that the party is dependent on a large loan from a director.

Despite making a profit in 2023, the party – which is unusually set up as a private company with shareholders – has negative net assets. In other words, it is in debt to a tune that far exceeds its current resources. The company is therefore technically insolvent, though it is likely to survive if it can service its debt repayment terms.

This debt is owed to the party's former leader, and now deputy leader, Richard Tice MP.

Tice is listed, albeit not by name, as the substantial long-term creditor to the party, to the tune of £1,083,000 in 2022 and 2023. This 'director's loan' is interest-free and appears to be without strings or a timeframe for repayment. Directors are allowed to lend to their own companies, but it is relatively uncommon.[..]

Looks like Reform UK's a bit of a sham if it's insolvent.  Or if it's just pretending to be, either way..

[Borg Refinery]

Zia Yusuf pledges more democracy in Reform UK - Torygraph link

We'll hold him to his pledge to see if he sticks by it or not, if they do then great - I'll give them full props for that, if not, then it's just going to be more proof they're not to be trusted

[Scott777]

You've got to love who Nigel Farage is linked with, Scott is so right about Reform and Farage..


He's actually right that the Legatum Institute (linked to Bill Gates) is heavily linked with running and funding GB News, weird stuff

It's hilarious to note this part though:


BBC News

What a corrupt turnip..

Oh, but you can't criticise Farage, he's the new Jesus for conservatives.  😉

[Borg Refinery]

You've got to love who Nigel Farage is linked with, Scott is so right about Reform and Farage..

Nigel Farage has revealed he is earning well over a £1m a year from work he does outside parliament, in addition to his job as an MP.
It is thought his outside income is significantly higher than that of any other member of parliament.
The majority of the Reform UK leader's earnings come from his work presenting on the GB News television channel - which alone pays him almost £1.2m a year.

He's actually right that the Legatum Institute (linked to Bill Gates) is heavily linked with running and funding GB News, weird stuff

It's hilarious to note this part though:

That trip was funded by George Cottrell, a former aide to Mr Farage who spent eight months in jail in the US in 2017 after he was caught in an FBI sting operation telling undercover officers he could launder money for them.

BBC News

What a corrupt turnip..

[Streetwalker]

The problem I can foresee is that, after the Labour landslide victory, Farage will see himself as leader of the opposition, even though his party only has 5 seats. David Cameron paid too much attention to what Farage said and look where that got us. Kier Starmer should just ignore Farage unless, by some miracle, he has something constructive to say.

Every MP thats not Labour (and maybe some who are ) should themselves as the leader of the opposition. Thats their job , to hold government to account .
If Cameron had not paid attention to Farage he would never have won his election but yes Starmer doesn't have to pay much attention to him , yet .

Ben Habib is still a member of the Reform party 

[Borg Refinery]

Let's see if Keir Starmer can say anything constructive first, I might not like Farage but the stuff about debanking was constructive and a reasonable point in and of itself. So no, he has said constructive things, but it's a lot like hardcore liberals to dismiss everything anyone they don't like has to say to try and gain attention