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Wanderers Ways. Neil Thompson 1961-2021

Take Over


Kane57

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24 minutes ago, tomski said:

I stopped believing it was ken when he stumped up some money.

 

The original donation was £4.00, but after it was factorised, sent on holiday to the British Virgin Islands, spent a pleasant summer resting in a Cayman islands based unit trust and took in the sights of Jersey, the Isle of Man, Dubai and Qatar it found itself much slimmer when it finally came to rest in Bolton. Don't look for it however, it's already gone again now back to Monaco and been replaced by an IOU with an illegible signature.

Edited by ProfessorWoland
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9 minutes ago, Hoppy510 said:

So despite what's been previously written about calling in Anderson's debt/shares, doesn't that imply that Moonshift wouldn't be particularly incentivised to put us into admin barring a significant offer to buy including recompense and/or a road to Damascus twinge of conscience? - thereby leaving it to Anderson to sell to anyone he can as the more likely outcome?

The only thing admin via Moonshift achieves is a £5M payday for KA, some might say that was his plan all along.

The problem is that whilst i’m sure a potential buyer would happily offer £5M to Moonshift to place in to admin, due to the potential £20M savings, there would be no guarantee that making this payment would  lead to a successful acquisition as they could be gazumped by another party. That’s the issue with the EFL banning pre-packs, it opens up an auction. 

Therefore there is literally zero incentive for Moonshift to put the club in to administration.

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7 minutes ago, Howardroark said:

The only thing admin via Moonshift achieves is a £5M payday for KA, some might say that was his plan all along.

The problem is that whilst i’m sure a potential buyer would happily offer £5M to Moonshift to place in to admin, due to the potential £20M savings, there would be no guarantee that making this payment would  lead to a successful acquisition as they could be gazumped by another party. That’s the issue with the EFL banning pre-packs, it opens up an auction. 

Therefore there is literally zero incentive for Moonshift to put the club in to administration.

So if Moonshift do not put us in Admin, will anyone? And if no one does then surely the only option is liquidation, we seem to be going round in circles. 

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11 minutes ago, Howardroark said:

The only thing admin via Moonshift achieves is a £5M payday for KA, some might say that was his plan all along.

Think Nixon was amazed at the potential contract that Ken and Bassini had signed.

But since it was signed it's reported KA can't put us in to admin due to this. May be trying to force Moonshift.

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12 minutes ago, Mounts Kipper said:

So if Moonshift do not put us in Admin, will anyone? And if no one does then surely the only option is liquidation, we seem to be going round in circles. 

And therein lies the unfortunate genius of KA and Bassini the pasty. 

KA can’t put us in to admin because of the issue with the Bassini contract (although I highly doubt it’s legal validity). Essentially exonerating him of blame as to why admin didn’t occur.

Moonshift putting us in to admin nets him £5M. 

Genuinely the best thing is for Bassini to formally step away now as that at least makes KA culpable.

 

 

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7 minutes ago, Howardroark said:

And therein lies the unfortunate genius of KA and Bassini the pasty. 

KA can’t put us in to admin because of the issue with the Bassini contract (although I highly doubt it’s legal validity). Essentially exonerating him of blame as to why admin didn’t occur.

Moonshift putting us in to admin nets him £5M. 

Genuinely the best thing is for Bassini to formally step away now as that at least makes KA culpable.

 

 

How does this deadlock get broken? No one to put us in admin, no one will buy unless we are in Admin, can the judge just ignore the intent to put us in Admin,  and pull the trigger on liquidation tomorrow?  

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3 minutes ago, Mounts Kipper said:

How does this deadlock get broken? No one to put us in admin, no one will buy unless we are in Admin, can the judge just ignore the intent to put us in Admin,  and pull the trigger on liquidation tomorrow?  

I think reading between the lines, Anderson would not want to go down that road as it would incriminate him, and he'd more than likely be banged up, if what Howard said weeks ago is anything to go by.

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4 minutes ago, Mounts Kipper said:

How does this deadlock get broken? No one to put us in admin, no one will buy unless we are in Admin, can the judge just ignore the intent to put us in Admin,  and pull the trigger on liquidation tomorrow?  

Bassini needs to stand down and allow KA to do it, that’s the only way now.

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Just now, Howardroark said:

Bassini needs to stand down and allow KA to do it, that’s the only way now.

Bassini cannot stop Anderson doing it. He can threaten him with legal action...but that won't be settled for months. 

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1 minute ago, DomRepWanderer said:

I think reading between the lines, Anderson would not want to go down that road as it would incriminate him, and he'd more than likely be banged up, if what Howard said weeks ago is anything to go by.

It depends, there are a number of finance directors who might be getting a bit nervous too.

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1 minute ago, bwfcfan5 said:

Bassini cannot stop Anderson doing it. He can threaten him with legal action...but that won't be settled for months. 

No administrator would take on a contested administration and no buyer would buy during it in case it was found in Bassini’s favour.

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18 minutes ago, Howardroark said:

And therein lies the unfortunate genius of KA and Bassini the pasty. 

You don't think Bassini has been put up to this? It seems so unlikely that a serious investor would choose him as the front man for a bid given the baggage that he brings to the table?

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Just now, ProfessorWoland said:

You don't think Bassini has been put up to this? It seems so unlikely that a serious investor would choose him as the front man for a bid given the baggage that he brings to the table?

I don’t thank Bassini was party to any deception, I think he was outed before he had chance to get the money together. He does genuinely have some cash and property but nowhere near enough for this. Don’t think he’s being taken seriously by creditors either.

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1 minute ago, ProfessorWoland said:

You don't think Bassini has been put up to this? It seems so unlikely that a serious investor would choose him as the front man for a bid given the baggage that he brings to the table?

I was thinking the same. Anderson and Bassini are dodgy at best. What if Ken signed this agreement with Bassini to try to force Moonshift's hand in the hope they put us in to administration ? Anderson then gets his 5 Million and bungs a bit to Bassini for his part in the ploy.

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12 minutes ago, Howardroark said:

No administrator would take on a contested administration and no buyer would buy during it in case it was found in Bassini’s favour.

Of course. It's a mess of unbelievable proportions. 

The EFL ban on pre-pack really might bite them in the arse as you've said. Whilst I understand why they banned it, they haven't accounted for scenarios where cost of triggering admin becomes a barrier....

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Howard

You've mentioned a couple of times that the funds exist to see the business/club through a summer of admin.

I thought we didn't have a pot to piss in, where's this money coming from?

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