irvtheswerv Posted April 3, 2019 Share Posted April 3, 2019 February's wages were paid from the hotel account. AFAIK that's not been paid back (happy to be corrected). So the Winder on the hotel will have to be dealt with in full, any admin/liquidation on the hotel prior to 8th May will see that money requested back from the club. And there's none to pay it. Link to comment Share on other sites More sharing options...
Howardroark Posted April 3, 2019 Share Posted April 3, 2019 2 minutes ago, RatchetMan said: Howard’s men are nothing more than tyre kickers in my opinion. Do you know the cost of due diligence? Link to comment Share on other sites More sharing options...
Site Supporter Tonge moor green jacket Posted April 3, 2019 Site Supporter Share Posted April 3, 2019 Just now, Howardroark said: Possible, although it was taken out of BWFC per se. ICI used assets it held in BWFC as collateral and then placed the debt with BWFC in the form of an intercompany obligation. Admittance would result in an embargo. Can't you present this evidence to the efl? Not sure it would make much difference, but we'd all feel better. Link to comment Share on other sites More sharing options...
RatchetMan Posted April 3, 2019 Share Posted April 3, 2019 1 minute ago, chrisw99 said: Just listened to Talksports headinlines at 12. "Laurence Bassini has bought Bolton Wanderers". Soundbite from Shaun Harvey "Give the man a chance" So the head of EFL wants us long suffering supporters to give a chance to the guy that’s been bankrupt twice, extremely corrupt, almost ruined a football club before. The head of the English football league wants us to give this character a 37th chance? Link to comment Share on other sites More sharing options...
Howardroark Posted April 3, 2019 Share Posted April 3, 2019 (edited) 1 minute ago, Tonge moor green jacket said: Can't you present this evidence to the efl? Not sure it would make much difference, but we'd all feel better. Only under subpoena and a transfer embargo would follow Edited April 3, 2019 by Howardroark A Link to comment Share on other sites More sharing options...
RatchetMan Posted April 3, 2019 Share Posted April 3, 2019 1 minute ago, Howardroark said: Do you know the cost of due diligence? I’m not having a go. I just doubt that your lads have the financial clout required considering you’re being outbid by Laurence Bassini Link to comment Share on other sites More sharing options...
WestStandUpper Posted April 3, 2019 Share Posted April 3, 2019 1 minute ago, RatchetMan said: So the head of EFL wants us long suffering supporters to give a chance to the guy that’s been bankrupt twice, extremely corrupt, almost ruined a football club before. The head of the English football league wants us to give this character a 37th chance? That's where I am at too. Truly Depressing. Link to comment Share on other sites More sharing options...
Site Supporter Tonge moor green jacket Posted April 3, 2019 Site Supporter Share Posted April 3, 2019 Just now, Howardroark said: Only under subpoena So what would it take for a suitable action to be started? Link to comment Share on other sites More sharing options...
Howardroark Posted April 3, 2019 Share Posted April 3, 2019 Just now, RatchetMan said: I’m not having a go. I just doubt that your lads have the financial clout required considering you’re being outbid by Laurence Bassini Unfortunately that isn’t the case, we won’t be used as the fluffer for a more corrupt offer. Link to comment Share on other sites More sharing options...
RatchetMan Posted April 3, 2019 Share Posted April 3, 2019 The EFL only care about keeping one of its founder members trading, no matter how poorly it will be run. Disgusting really, I thought they were there to protect us Link to comment Share on other sites More sharing options...
Howardroark Posted April 3, 2019 Share Posted April 3, 2019 (edited) 1 minute ago, Tonge moor green jacket said: So what would it take for a suitable action to be started? You’d have to fund a forensic examination of ICI and BWFC as well as the loan company Edited April 3, 2019 by Howardroark A Link to comment Share on other sites More sharing options...
bwfcfan5 Posted April 3, 2019 Share Posted April 3, 2019 3 minutes ago, RatchetMan said: So the head of EFL wants us long suffering supporters to give a chance to the guy that’s been bankrupt twice, extremely corrupt, almost ruined a football club before. The head of the English football league wants us to give this character a 37th chance? What he was saying was that if the EFL block this the club will likely be liquidated - so what would you have them do. Link to comment Share on other sites More sharing options...
chrisw99 Posted April 3, 2019 Share Posted April 3, 2019 Bassini being bankrupt simply cannot have the money, so he must be being used as a front by someone else. Maybe simply because he has been through the legal process before of buying a football club. Big Sam with foreign backing?? Link to comment Share on other sites More sharing options...
nantwichwhite Posted April 3, 2019 Share Posted April 3, 2019 8 minutes ago, RatchetMan said: Correct. Expect a deal with Bassini to be forced through in the next few days Due diligence could take ages, not what we need at the moment. Especially if there are alleged accounting irregularities. Link to comment Share on other sites More sharing options...
Plums Posted April 3, 2019 Share Posted April 3, 2019 I wonder if a collection of fans, or trust for example could sue the EFL for neglect of duties in processing fit and proper persons? Link to comment Share on other sites More sharing options...
Site Supporter Tonge moor green jacket Posted April 3, 2019 Site Supporter Share Posted April 3, 2019 (edited) 2 minutes ago, Howardroark said: You’d have to fund a forensic examination of ICI and BWFC as well as the loan company Do you know anyone with suitable funds who would be willing to pay for it? Edited April 3, 2019 by Tonge moor green jacket Link to comment Share on other sites More sharing options...
RatchetMan Posted April 3, 2019 Share Posted April 3, 2019 1 minute ago, bwfcfan5 said: What he was saying was that if the EFL block this the club will likely be liquidated - so what would you have them do. I’d have had them searching high and low a long time ago for potential new respected buyers. Our troubles have been highly documented for years now, they’d have known back when they approved Ken Anderson that he didn’t have a long term solution Link to comment Share on other sites More sharing options...
Big E Posted April 3, 2019 Share Posted April 3, 2019 Just now, Plums said: I wonder if a collection of fans, or trust for example could sue the EFL for neglect of duties in processing fit and proper persons? New levels of simpletonness. We aren’t in the USA Link to comment Share on other sites More sharing options...
Howardroark Posted April 3, 2019 Share Posted April 3, 2019 Just now, Plums said: I wonder if a collection of fans, or trust for example could sue the EFL for neglect of duties in processing fit and proper persons? It isn’t a ruling open to interpretation, it’s a fact based assessment that KA passed. You could argue for a more stringent assessment with previous bankruptcy being an outright barring, but many people are successful after a bankruptcy. Link to comment Share on other sites More sharing options...
Smiley Posted April 3, 2019 Share Posted April 3, 2019 1 minute ago, Tonge moor green jacket said: Do you know anyone with suitable for who would be willing to pay for it? The EFL for starters IMO. JSL. Link to comment Share on other sites More sharing options...
bwfcfan5 Posted April 3, 2019 Share Posted April 3, 2019 1 minute ago, RatchetMan said: I’d have had them searching high and low a long time ago for potential new respected buyers. Our troubles have been highly documented for years now, they’d have known back when they approved Ken Anderson that he didn’t have a long term solution The EFL cannot do that - because they cannot force the sale of a privately owned business. Nor can they force Ken to sell. I think you've got to be realistic. By no means is Bassini a certainty, but seems there is little else. Link to comment Share on other sites More sharing options...
John Galt Posted April 3, 2019 Share Posted April 3, 2019 I have to say I'm quite surprised at the length of the adjournment, must have found a lenient judge on a good day. Bassini is very much just a front for a consortium of far eastern business men, not just Thai, there is also funds from the Philippines, and quite possibly Singapore. Believe me, he will be kept in check if this tranfer of ownership goes through Link to comment Share on other sites More sharing options...
RatchetMan Posted April 3, 2019 Share Posted April 3, 2019 1 minute ago, bwfcfan5 said: The EFL cannot do that - because they cannot force the sale of a privately owned business. Nor can they force Ken to sell. I think you've got to be realistic. By no means is Bassini a certainty, but seems there is little else. Spin it how you like. The fact is, the EFL have failed miserably, they are able to work alongside the club and make recommendations to Anderson. They’ve sat back and allowed him to build this circus Link to comment Share on other sites More sharing options...
bwfcfan5 Posted April 3, 2019 Share Posted April 3, 2019 1 minute ago, John Galt said: I have to say I'm quite surprised at the length of the adjournment, must have found a lenient judge on a good day. Bassini is very much just a front for a consortium of far eastern business men, not just Thai, there is also funds from the Philippines, and quite possibly Singapore. Believe me, he will be kept in check if this tranfer of ownership goes through The creditor representative asked for such a delay...not sure why.... Link to comment Share on other sites More sharing options...
Howardroark Posted April 3, 2019 Share Posted April 3, 2019 What I would say about the EFL is that their FFP rules will limit the number of wealthy buyers as promotions cannot be ‘bought’ without somehow hyper inflating turnover. Im not linking the two, but there have long been rumours that a certain Thai owner would privately fund an associates purchase of an EFL team with a view to being able to inflate turnover via received transfer fees. Link to comment Share on other sites More sharing options...
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