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Kane57

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17 minutes ago, Tonge moor green jacket said:

= Biggest wallet?

Yes and no, it’s often the devious, shadowy solicitors that work best in these situations, Saul Berendsen would be ideal.

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1 minute ago, Howardroark said:

No, at the same time, upon completion of administration (when a buyer is found). 

ED Trust were actually clever in financing through KA & ICI as they protected themselves from what they perceived to be a near certain liquidation event.

Will there be buyers

Serious question @Howardroark

I've got to that point were it's breaking me 

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16 minutes ago, Howardroark said:

ICI did loan to BWFC via Burnden Leisure.

Sorry I thought Ken did personally ?

Can I just backtrack 

Am I wrong in saying this 

Effectively we have monies that have gone from ED Trust - - > ICI --> KA then from KA --> BWFC 

What is the money trail 

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36 minutes ago, Howardroark said:

KA called in the administrators at the point the business was (in his opinion) insolvent. 

If Fildraw put it in to administration then there will be accusations that KA didn’t comply with his director duties and put the business into administration at the point that it became insolvent. 

The £5M owed to ICI is a legitimate transaction so there’s nothing to report. 

It would be if KA failed to repay ED Trust that an issue arose but if ICI was to go into liquidation having paid that £5M to other creditors or for ‘expenses’ then there’s very little that can be done.

I'm a little confused over this bit Howard.

The last published accounts of ICI Ltd seem to show a loss and outstanding creditors of £500k as at Sept 2017, since then we know they have taken on a loan from Eddie for £5m.

If the company seems not to generate any revenue and the £5m was re-loaned to the club then how could it knowingly incur 'expenses' to others without knowingly being unable to settle the already secured and non secured creditors?

Ok I can accept that there were hopes of a sale of the club - but surely even that was on the basis of the secured creditor (Moonshift) being repaid in order to release the lien of the share ownership, to allow a sale to happen?

Wouldn't it seem highly 'suspicious' that ICI Ltd incurred presumably millions of pounds of 'expenses' to other creditors, to leave insufficient to pay the secured creditor back?

Almost tantamount to preference being shown to certain creditors and not to others in a business that was apparently insolvent at the time?

Edited by Sluffy
grammar errors

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9 minutes ago, Howardroark said:

No, at the same time, upon completion of administration (when a buyer is found). 

ED Trust were actually clever in financing through KA & ICI as they protected themselves from what they perceived to be a near certain liquidation event.

Ok thanks. Whats Ken's tactics seeing been court numerous times over past few weeks and never requesting a Validation Order to unfreeze the Accounts why all this been going on. Seeing theres funds in the Accounts?

I recall over 3 years ago when similar events were going under Eddies reign, The Club requested one and got one to trade.

Trying to understand why never requested one.

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18 minutes ago, Benny The Ball said:

Sorry I thought Ken did personally ?

Can I just backtrack 

Am I wrong in saying this 

Effectively we have monies that have gone from ED Trust - - > ICI --> KA then from KA --> BWFC 

What is the money trail 

ICI to BWFC

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7 minutes ago, Inside Man said:

Ok thanks. Whats Ken's tactics seeing been court numerous times over past few weeks and never requesting a Validation Order to unfreeze the Accounts why all this been going on. Seeing theres funds in the Accounts?

I recall over 3 years ago when similar events were going under Eddies reign, The Club requested one and got one to trade.

Trying to understand why never requested one.

To force a situation that reduces staff numbers and allows for admin funding 

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12 minutes ago, Sluffy said:

I'm a little confused over this bit Howard.

The last published accounts of ICI Ltd seem to show a loss and outstanding creditors of £500k as at Sept 2017, since then we know they have taken on a loan from Eddie for £5m.

If the company seems not to generate any revenue and the £5m was re-loaned to the club then how could it knowingly incur 'expenses' to others without knowingly being unable to settle the already secured and non secured creditors?

Ok I can accept that there were hopes of a sale of the club - but surely even that was on the basis of the secured creditor (Moonshift) being repaid in order to release the lien of the share ownership, to allow a sale to happen?

Wouldn't it seem highly 'suspicious' that ICI Ltd incurred presumably millions of pounds of 'expenses' to other creditors, to leave insufficient to pay the secured creditor back?

Almost tantamount to preference being shown to certain creditors and not to others in a business that was apparently insolvent at the time?

It wouldn’t be creditors, it would be the pro-forma payment for services.

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23 minutes ago, Ratwhite said:

Will there be buyers

Serious question @Howardroark

I've got to that point were it's breaking me 

Yes there will be.

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3 hours ago, anthonyj said:

I can never get my head around all this cancelling of season ticket shite......I love the fucking club me. Thats the club as in past, present and future (sometimes i really wish i did'nt, it would make life a fucking lot easier).

Don't get me wrong, i know everyone is different and have differing financial burdens, but if you can afford it surely your season ticket should'nt be constantly used as a threat against the club. The present players ARE a fucking disgrace to the heritage of this great old club, and the manager has'nt know his arsehole from his elbow from day one in my opinion. BWFC has always been too big from Parkinson, and he was brought in solely because he and his "staff" were a cheap option and would toe the party line at all times.

But as we know, these fuckers come and go......as fans we should not be like them! .......BWFC is a way of life, like it or not. And as fans we should not be leaving the club when it needs us most, just to return when things are easier, then telling everyone you're Bolton loyal 😂😂😂😂😂

Great comments. I'm of the same mind generally, getting a season ticket has been a no brainer for decades because I simply hate missing home games (missed 1 league game since 80s). Where I am now wobbling is that I hate the way Parky makes me feel, the anger that has been boiling up in me for the last 3 years every time he names his team is draining and effects my mental health. I know that staying away if he is manager will improve my health compared to living through every launched ball to no-one in particular. The day he leaves will be like a weight has lifted.

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6 minutes ago, Howardroark said:

Yes there will be.

Still thinking it’s going until player contracts expire on June 30?

Or will we have new owners before then?

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3 hours ago, bwfcfan5 said:

That’s not unconditional support though. And you might argue that is the difference between us and Sunderland and others who still retain huge crowds even in situations like these.

Watching that Sunderland documentary, did you see all the empty seats? No way have they stayed any more loyal than us, our ticket sales have hardly dropped whereas you could ask where Sunderlands usual 40k crowds have gone, now under 30k despite giving away kids season tickets free.

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4 minutes ago, Howardroark said:

It wouldn’t be creditors, it would be the pro-forma payment for services.

Thanks for the reply.

I still think invoices presumably totalling in the millions of pounds would be highly suspicious for a company that doesn't seem to be much more than a holding company with no apparent trading based revenue streams to pay such pro-formas and would be presumably not intending to pay a secured £5m creditor in full by going into voluntary liquidation.

No doubt we will find out soon enough.

 

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39 minutes ago, Johnnyrotten said:

Great comments. I'm of the same mind generally, getting a season ticket has been a no brainer for decades because I simply hate missing home games (missed 1 league game since 80s). Where I am now wobbling is that I hate the way Parky makes me feel, the anger that has been boiling up in me for the last 3 years every time he names his team is draining and effects my mental health. I know that staying away if he is manager will improve my health compared to living through every launched ball to no-one in particular. The day he leaves will be like a weight has lifted.

ive no problem with anybody saving money or keeping it in their pockets for now

however a decent bloke would then chuck in anything saved into the newco on day one

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1 hour ago, Howardroark said:

Yes and no, it’s often the devious, shadowy solicitors that work best in these situations, Saul Berendsen would be ideal.

I daresay Saul Berenson could probably make the problem, and the people causing it, go away.

Saul Goodman might be better in court, though.

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3 hours ago, passmosster said:

More to the point, who's going to cover the administrator's fees?

If Brendan Guilfoyle and P&A associates get mentioned kick up feck. They were bent as hell with Ridsdale on our Administration

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4 hours ago, Pricey said:

I have never felt so much hatred towards one person, I would love to chin the fucker, but I probably wouldn't stop at 1 punch

careful what you say for when he does eventually get potted

you may end up in the many thousands of suspects 

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26 minutes ago, enzo gambaro said:

I daresay Saul Berenson could probably make the problem, and the people causing it, go away.

Saul Goodman might be better in court, though.

Ah yes, a take of two Saul’s

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@Howardroark ...

Why should the EDT be bothered who ken wants to appoint as an administrator ? Surely every administrator is bound legally how to go about things so won’t favour people! So surely the trust should just agree to whoever Ken’s wants as the administrator just so he is finally out of the loop

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11 minutes ago, Jcookie said:

@Howardroark ...

Why should the EDT be bothered who ken wants to appoint as an administrator ? Surely every administrator is bound legally how to go about things so won’t favour people! So surely the trust should just agree to whoever Ken’s wants as the administrator just so he is finally out of the loop

There’s a long track record of administrators acting, ahem with certain interests in mind. Don’t forget that their ‘fees’ are paid from administration, the longer than admin the higher the fees.

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1 hour ago, Johnnyrotten said:

Great comments. I'm of the same mind generally, getting a season ticket has been a no brainer for decades because I simply hate missing home games (missed 1 league game since 80s). Where I am now wobbling is that I hate the way Parky makes me feel, the anger that has been boiling up in me for the last 3 years every time he names his team is draining and effects my mental health. I know that staying away if he is manager will improve my health compared to living through every launched ball to no-one in particular. The day he leaves will be like a weight has lifted.

Absolutely........I feel exactly the same every week (ask my mrs 😂).

But i support the BWFC the club. Managers and players come and go, i don't feel i have a choice.

Fucking absolutely hate Parkinson though mate. Not personally, just his idea of the way the game should be played.

And before anyone jumps on stating the financial position as hus excuse.....fair enough, you're welcome to your opinion, but to me this idiot is absolutely shit scared of losing and has ruined the confidence of most of the players, totally killed any atmosphere among the fans and not even had the fucking bollocks to stand up to his chairman.

Can you imagine Rioch, Todd, Allardyce just standing by the pitch hands in pockets looking pathetic as he had all season?

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5 hours ago, ProfessorWoland said:

It's Stephen Hawking that I feel sorry for.  All those years wasted on trying to calculate the energy discharge of a black hole or determine a grand theory of physics reconciling Newtonian and quantum mechanics when the really challenging problem was working out what the fuck is happening at Bolton Wanderers on an hourly fucking basis. 

 

 

Don't worry. Hawking was a Bolton fan. He was in Madrid following the Whites. 

@SatanGreavsie made a book about it. 

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21 minutes ago, Jcookie said:

@Howardroark ...

Why should the EDT be bothered who ken wants to appoint as an administrator ? Surely every administrator is bound legally how to go about things so won’t favour people! So surely the trust should just agree to whoever Ken’s wants as the administrator just so he is finally out of the loop

You have obviously never dealt with an administrator - I have on a couple of occasions

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Aren't we liable to pay upto 3 months wages to players whose contracts end?

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