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4 minutes ago, Okocha10 said:

Well supposedly the creditor's all did agree to FV yesterday according to Paul Appleton? Does Bassini's claim stop them getting the hotel as well.

Not sure he says that. But we'll see. 

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Give it a fucking rest eh  ‘somebody’s moral expectations of someone are very different to the legal obligations you know that and I know that. So why don’t you lay off patronising folk Chris and

I really cannot wait for the day we don’t have to read the words moonshift, Inner fucking circle, blue bastard marble or any piece of shit word associated to this horrible draining 3 year bullshit sag

Fucking massive clear out coming on WW later, either way.

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emailed him to see if he wants to meet for a pint in Barnstormers tomorrow, and that I'll help him sneak in the ground as I don't think they'll let him through the front doors

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Clutching at straws here, and I know history means nothing but it's 60 years since I went to my first Wanderers match and in all that time the lowest spot (before this) was when we got relegated to Division 4 in '87 - but Division 4 turned out to be a not so bad experience and we bounced straight back up thanks in part to a most unlikely source, Robbie Savage FFS who scored the goal that confirmed our promotion back to the 3rd tier.

Maybe, just maybe our darkest hour will turn out to be not so bad after all and we'll be saved by an unlikely source again?

Probably not, but I have to have some straw to clutch at in times like these.

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2 minutes ago, Hoppy510 said:

Clutching at straws here, and I know history means nothing but it's 60 years since I went to my first Wanderers match and in all that time the lowest spot (before this) was when we got relegated to Division 4 in '87 - but Division 4 turned out to be a not so bad experience and we bounced straight back up thanks in part to a most unlikely source, Robbie Savage FFS who scored the goal that confirmed our promotion back to the 3rd tier.

Maybe, just maybe our darkest hour will turn out to be not so bad after all and we'll be saved by an unlikely source again?

Probably not, but I have to have some straw to clutch at in times like these.

Dropping to the 4th tier worked out well for Man City as well.

And it's almost certain we are going to be in the 4th tier next season - can't see any other outcome as things stand.

 

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4 minutes ago, chrisw99 said:

Dropping to the 4th tier worked out well for Man City as well.

And it's almost certain we are going to be in the 4th tier next season - can't see any other outcome as things stand.

 

4th tier? 🤔🤔

They were  playing Macclesfield in the 3rd tier about 20 years ago, but no lower I don’t think.

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Laurence Bassini is plainly a loose cannon but he seems to have hit Mr Appleton with a bazooka. I seem to recall Bassini making this threat weeks ago. Could Mr Appleton have done nothing to head it off?

I can’t honestly say that I’ve spent much of my life reading the reports of company administrators but as one of 6,000 shareholders in Burnden Leisure, I thought that I should at least make some attempt to read Mr Appleton's report on BL.

Most of its taken up on how much Rubin's charge for their services but it begins by telling us that BL was formed in 1938 as a 'special purpose vehicle' to hold shares in BWFC. Now that surprised me a bit because, like many of the other 6,000 shareholders, I knew that it was actually formed as an engineering company in Birmingham called Press Tools in 1938 and didn't have any interest in BWFC until its ill-fated reverse takeover of BWFC 59 years later.

I say ill-fated because, in next to no time, its cash reserves disappeared down the plug hole just like Eddie's millions did after he rode into town in 1999 to help rescue the club from the financial crisis it faced on that occasion. A certain Dean Holdsworth was on the payroll at the time, but that's another story.

In Section 3 Appleton fails to disclose the trading results for 2017/18. Although these have not been signed off by the auditors, who seem to be unpaid for past services, they almost certainly will have been filed with the EFL and are plainly relevant to any understanding of the group’s recent financial history.

In Section 4, Appleton explains the background to his appointment and describes Ken Anderson’s attempt to sell the shares between 15 March and 8 May as being ‘overly protracted’. He surely could not have expected it to have been like shelling peas.

From 1999 until his death in 2018, Eddie Davies spent an average of nearly £10m p.a. on ‘his hobby’. Most of it was eventually written off but Fildraw/Moonshift/EDT are, according to para10.1, claiming they are owed circa £17m with Ken Anderson claiming he is owed circa £7.5m. Fildraw were responsible for Rubin’s appointment but Mr Appleton has provided no satisfactory explanation as to why he has reduced their claim to £10,050,000 and Anderson’s to £1,578,042.

Let’s see what Quantuma have to say today.

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13 minutes ago, Chris Custodiet said:

Laurence Bassini is plainly a loose cannon but he seems to have hit Mr Appleton with a bazooka. I seem to recall Bassini making this threat weeks ago. Could Mr Appleton have done nothing to head it off?

I can’t honestly say that I’ve spent much of my life reading the reports of company administrators but as one of 6,000 shareholders in Burnden Leisure, I thought that I should at least make some attempt to read Mr Appleton's report on BL.

Most of its taken up on how much Rubin's charge for their services but it begins by telling us that BL was formed in 1938 as a 'special purpose vehicle' to hold shares in BWFC. Now that surprised me a bit because, like many of the other 6,000 shareholders, I knew that it was actually formed as an engineering company in Birmingham called Press Tools in 1938 and didn't have any interest in BWFC until its ill-fated reverse takeover of BWFC 59 years later.

I say ill-fated because, in next to no time, its cash reserves disappeared down the plug hole just like Eddie's millions did after he rode into town in 1999 to help rescue the club from the financial crisis it faced on that occasion. A certain Dean Holdsworth was on the payroll at the time, but that's another story.

In Section 3 Appleton fails to disclose the trading results for 2017/18. Although these have not been signed off by the auditors, who seem to be unpaid for past services, they almost certainly will have been filed with the EFL and are plainly relevant to any understanding of the group’s recent financial history.

In Section 4, Appleton explains the background to his appointment and describes Ken Anderson’s attempt to sell the shares between 15 March and 8 May as being ‘overly protracted’. He surely could not have expected it to have been like shelling peas.

From 1999 until his death in 2018, Eddie Davies spent an average of nearly £10m p.a. on ‘his hobby’. Most of it was eventually written off but Fildraw/Moonshift/EDT are, according to para10.1, claiming they are owed circa £17m with Ken Anderson claiming he is owed circa £7.5m. Fildraw were responsible for Rubin’s appointment but Mr Appleton has provided no satisfactory explanation as to why he has reduced their claim to £10,050,000 and Anderson’s to £1,578,042.

Let’s see what Quantuma have to say today.

Interesting Chris, thank you.

It now makes some sense of a line I picked out of his report that we had at one time land interests in and around Birmingham (page 1 of Appendix 5).

I did think that was somewhat strange when I read it!

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39 minutes ago, Sluffy said:

Interesting Chris, thank you.

It now makes some sense of a line I picked out of his report that we had at one time land interests in and around Birmingham (page 1 of Appendix 5).

I did think that was somewhat strange when I read it!

My pleasure, mate. I expect that there's some double counting in the £17m and £7.5m.

i.e. the £7.5m is what Anderson borrowed from EDT to keep the club above water in 2017 and pay off Blumarble in 2018 but there does seem to be the possibility of factual circumnavigation in play.

The Birmingham land bit is a new one on me too. It would be a turn up if it amounted to summat but I rather doubt it.

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2 hours ago, Benny The Ball said:

 

Maybe there is a clue in the timing 

Maybe back in May he genuinely did not have access to the required funds ( which was why Anderson walked away ) , Maybe he now does have the funding and backers 

Maybe until this week he has been quite relaxed about it because he thought by bidding high he would buy the hotel and thereby he would scupper FV s attempt to buy the Football Club and then  put himself in pole position to  buy the Football club through the back door so to speak 

Maybe in the last 48 hours he found out he was not going to get the Hotel as he thought he was and that FV were , and this injunction was the desperate response of a desperate man. 

A few maybes I know  - but no one saw this coming and we can only speculate  as to how we got to where we are. 

This would be consistent with Appleton saying the deal  was about to be concluded  though

 

Regarding selling and renting back the ground - think this will happen whoever buys the club 

 

But isn't this the point - isn't he claiming that he did complete the deal at this stage?

Thanks for your early reply to me which did go to the very heart of the matter in that BL holds the golden share.

I was rather more thinking around the issues resulting from his stated position that he had purchased BL and what that purchase included, namely did it or did it not include the club (BWFAC) and hotel (Bolton Whites Hotel Ltd) as well?

Surely he had must have thought he was buying the stadium and the hotel (the Administrator in his own report states the two are "inextricably linked" and "the sale of the hotel is highly contingent on the sale of the Football Club" - Section 5.5, page 7 of his report) otherwise what was he going to do with his golden EFL share, unless he intended to set up a football club elsewhere (as per MK Dons some years back)?

So an injunction against BL would surely effect the Administrator at the hotel also - although there seems to be no mention of this anywhere?

I also mentioned that if he truly believed he had bought BL from Anderson, then surely he would have submitted the injunction when the respective Administrators started marketing for sale both the club and the hotel - and not wait until the last possible moment to submit one?

I also can't fathom out how Anderson sold the shares whilst he had an outstanding loan of £5m on them - surely that had to be settled before ownership of BL and hence the golden share and the club, hotel, etc could have been purchased by Bassini?

Something seems totally false in Bassini's action to my eyes but obviously not to those that matter such as the judge who granted the injunction.

No doubt everything will come out in the wash soon enough.

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1 hour ago, Chris Custodiet said:

In Section 3 Appleton fails to disclose the trading results for 2017/18. Although these have not been signed off by the auditors, who seem to be unpaid for past services, they almost certainly will have been filed with the EFL and are plainly relevant to any understanding of the group’s recent financial history.

 

Just to drag us back from the land of pretending to know who was thinking what for a minute, I'd point out that if IIRC the frequently-quoted 2016/17 accounts weren't signed off as a true and accurate statement of the situation either and the auditors made it clear they had reservations about what they were being told.

I actually don't know the last time a set of accounts were filed wherein the auditors were happy to say that they fully believed in the information they were given.

Our true financial picture may be a long way from what is in the public domain, especially if one lie is built upon another, hence the futility of speculation. It was my hope that once Anderson was out of the way, a new (responsible) owner would spell out the true situation in order to baseline the new regime - maybe that will still happen.

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4 minutes ago, Matty said:

From 1030 but there were a good number before.

Had a look at the court listings, and there is nothing obvious in the ones listed to suggest it is Bassini

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Just now, Wullie said:

Had a look at the court listings, and there is nothing obvious in the ones listed to suggest it is Bassini

If it is listed and they have gone back to the same judge it can only be  this one below   ( I enquired but they refused to confirm / deny it was ) it was last on list . 

Before His Honour Judge Eyre QC

Sitting as a Judge of the High Court

 

Sitting in Court 43  on Level 9

At the Manchester Civil Justice Centre, 1 Bridge Street West, Manchester

On Friday 9 August 2019 at 10.30am

In Public 

Insolvency and Companies (ChD)

 CR-2019-MAN-000753      RE: A COMPANY     injunction

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Just now, Benny The Ball said:

If it is listed and they have gone back to the same judge it can only be  this one below   ( I enquired but they refused to confirm / deny it was ) it was last on list . 

Before His Honour Judge Eyre QC

Sitting as a Judge of the High Court

 

Sitting in Court 43  on Level 9

At the Manchester Civil Justice Centre, 1 Bridge Street West, Manchester

On Friday 9 August 2019 at 10.30am

In Public 

Insolvency and Companies (ChD)

 CR-2019-MAN-000753      RE: A COMPANY     injunction

Agreed it could be. Sent a text to a mate who is a senior Judge at the court, he hasn't responded as yet but suspect he is either in chambers or involved elsewhere

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1 minute ago, Wullie said:

Agreed it could be. Sent a text to a mate who is a senior Judge at the court, he hasn't responded as yet but suspect he is either in chambers or involved elsewhere

Gone 1? On a Friday? On piss by now.

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2 hours ago, chrisw99 said:

Dropping to the 4th tier worked out well for Man City as well.

And it's almost certain we are going to be in the 4th tier next season - can't see any other outcome as things stand.

 

 

2 hours ago, chrisw99 said:

Dropping to the 4th tier worked out well for Man City as well.

And it's almost certain we are going to be in the 4th tier next season - can't see any other outcome as things stand.

 

 

2 hours ago, ZiggyStardust said:

When did that happen ?

Sometime in the future after the Arab money has gone probably.

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