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Wanderers Ways - passion not fashion

Howardroark

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Howardroark last won the day on March 21

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About Howardroark

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  1. Yes they have it, transactions can be done some day via CHAPS transfer so right up to the 2nd. The only delay may be if funds are coming from outside of the UK, but shouldn’t be an issue unless it’s coming from a dodgy nation. Funding is subjective, there’s their net worth but that’s not an indication of level of spend, think of Lakshmi Mittal at QPR.
  2. As I’ve said previously, money talks but wealth whispers
  3. In a distressed business situation you will always have ‘other bidders’, just like the publicity generated will bring out all of the fantasists. Alan Nixon will be getting tips from all over the place, but the reality is that for the past 4 months there have only been two bidders, Basran and the new bidder, nobody expressed an interest until after the court case which indicates that they were either: a) Not overly serious in the first place b) Hoping to pick the bones from liquidation order Nixon is just playing the game, and he’s good at it, but he knows nothing about the bidder, if he did then Ken or PA have broken an NDA and probably lost the deal.
  4. I think he will take a realistic decision on pay day, if there’s nobody else in the picture that can be verified and has the ability to close then he may just sign then. If it gets past pay day then it’ll be on the 2nd and it’ll be him holding out hope of a Sheikh with a literal bag of cash. Should be noted that the adjournment was granted on the basis of all the debts being paid in full by the 3rd, it’s therefore highly unlikely that a party looking to do deals with creditors will even now be considered. So it’s about who seriously has £30M+ in liquid, legitimate funds. Why does it need to be liquid? Because all creditors will need to be satisfied, you cannot prioritise the full payment of a debt to one creditor and not the other when under a WU due to substitution (you saw 2 other creditors on Weds who were waiting to pounce).
  5. I assume he was happy with the initial offer, the issue is two fold 1) Do they have to reduce KA’s offer if they discover any issues & how will he react? 2) Does KA increase his requirements based on fantasy bids from ‘other’ parties. The likelihood is however that they’ll just maintain the offer as it is and use any hidden debts as leverage against any new demands from Ken’s. This is the fundamental difference of the Basran group, their funding situation meant that they had to reduce the offer when new debts emerged. KA couldn’t make the link between the two. They also wanted to pay in instalments. Ken knows that a ‘cash buyer’ is rare (as opppsed to one looking to negotiate with creditors) this again strengthens the hand of the buyer against any other bidders. It should be noted as well that any new bidder is 2 weeks behind on DD. Long and short of it, Ken wouldn’t be Ken if he didn’t try and get a bit more, but I think he’ll consider himself fortunate to have got anything when he looks back in a few months time.
  6. It’s impossible to say, there’s the issues around the £3M loans from Moonshift that may or may not have ended up with BWFC, then there’s wider issues such as whose bank accounts the EFL money was paid in to, how much was borrowed against EFL money and how much was paid back etc. You have things like supplier rebates that may have been paid elsewhere, agent fees etc. I imagine he did say it to FGR, and meant it , but based on FGR owner I’d say it was probably a ‘biggest balls’ contest,
  7. If Ken moved the goalposts to an unprofitable level?
  8. Sir, you appear to have joined simply to try and discredit me, please note that I won’t be answering any more questions if the answer is simply the semantics of the word ‘probably’
  9. A clearer definition of a football creditor after 7 days.
  10. I don’t seek to impress you and I’m far too experienced to give you anything compromising. I would also know a) who you are and b) that only you had been given the information, it wouldn’t be hard to trace back in a libel situation....
  11. 8.5/10 What I would say is that any funny business from Ken would not be tolerated, he is out of his depth with this mob. The reality is that it remains Ken’s business and whilst it’s his business there is an element of uncertainty.
  12. In the misguided hope that he would take comfort from it and give credence to my opinions validity.
  13. I believe that people will use my words to form an opinion, the strength of my words can only be proven by fact, and the fact is that I have yet to be wrong on anything that I have expressed as a fact. Whilst there maybe a discrepancy on my understanding of accounting procedures, that doesn’t give you his cause to denigrate the rest of my assertions.
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