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27 minutes ago, Casino said:

I thought we had decided that liquidation does not suit KA

It would not suit him for the hotel to be liquidated, but I wasn't talking about that.

If the club was liquidated though he would be guaranteed his money as a secured creditor (£1.6m roughly).

He'd be fine if FV was potted was the point I was making.

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Just now, Sluffy said:

It would not suit him for the hotel to be liquidated, but I wasn't talking about that.

If the club was liquidated though he would be guaranteed his money as a secured creditor (£1.6m roughly).

He'd be fine if FV was potted was the point I was making.

Ok Sluffy you have me worried we won’t have a club if Bassini wins

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6 minutes ago, Chrisj said:

Ok Sluffy you have me worried we won’t have a club if Bassini wins

If Bassini wins we'll have his (Sullivans) 25 million to play with. Or am I being goulable?

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43 minutes ago, Casino said:

Michael James does not want to own bwfc

And that's a fact

 

Bloke who sits by me in esl was saying pretty much same thing...Just making sure he has some control in getting his money back was the comment.

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While I don't thinks he's wealthy enough to be able to write off his money, he is very concerned his team might die

And he feels he has a responsibility not to let it go

I didn't realise but his lads were at wycombe

He isn't some pretend fan

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1 minute ago, Casino said:

While I don't thinks he's wealthy enough to be able to write off his money, he is very concerned his team might die

And he feels he has a responsibility not to let it go

I didn't realise but his lads were at wycombe

He isn't some pretend fan

This.

With fucking big bells on...

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10 minutes ago, Duck Egg said:

If Bassini wins we'll have his (Sullivans) 25 million to play with. Or am I being goulable?

Goulable. If Bassini wins it will be liquidation. 

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Just now, Chrisj said:

Ok Sluffy you have me worried we won’t have a club if Bassini wins

Me also AND he doesn't even have to win!

He only needs to draw out the legal process beyond FV ability/desire to keep fighting for the club and hotel.

It's the first time I've been able to put any sense to why Anderson/Bassini spent so much time on the charade of selling/buying the club and hotel before Administration took place AND why Bassini hasn't sought an injunction some months back until now - when the hotel's Administrators deadline was up for bids for the hotel.

Legal action could drag on for many months if neither side are genuine for an outcome - and if and when FV pull out - then don't be surprised at some settlement being done between the two soon after outside of the court itself.

The hotel can trade in the mean time as a going concern in Administration but I can't see any future for the club if FV pull out.

It seems only one other bid for the hotel has been received by the Administrator of the hotel and for all we know that could be Ken's proxy with a bid of just one pound!

Yes, he would stand to lose £3.5m on the hotel but who else would buy the stadium out of liquidation, and so he could recover his 'losses' buy buying it cheaply - who else wants a 25,000 seater stadium in Horwich?

Own the hotel and stadium and then sell it on to a property developer for a killing.

What's not to like if you were in Anderson's shoes?

Maybe/hopefully I'm well wide of the mark on this though.

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39 minutes ago, boltondiver said:

Goulable

 

Another new word!

How have even put that even with today spellcheck shite you get ffs haha

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15 minutes ago, Sluffy said:

 

Own the hotel and stadium and then sell it on to a property developer for a killing.

What's not to like if you were in Anderson's shoes?

Maybe/hopefully I'm well wide of the mark on this though.

Grim scenario,  but where do the Council sit in all this?  Do they own the freehold?

 Are they just going to let developers do what they want on the site?   I can't see it.  Tories just on the verge of regaining full control of the council, marginal Bolton West seat.  I think there are huge risks and a long wait for anyone planning on liquidating the club and applying for planning permission to re-develop the site, and huge political risks for any council that supports it.

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20 minutes ago, Sluffy said:

Me also AND he doesn't even have to win!

He only needs to draw out the legal process beyond FV ability/desire to keep fighting for the club and hotel.

It's the first time I've been able to put any sense to why Anderson/Bassini spent so much time on the charade of selling/buying the club and hotel before Administration took place AND why Bassini hasn't sought an injunction some months back until now - when the hotel's Administrators deadline was up for bids for the hotel.

Legal action could drag on for many months if neither side are genuine for an outcome - and if and when FV pull out - then don't be surprised at some settlement being done between the two soon after outside of the court itself.

The hotel can trade in the mean time as a going concern in Administration but I can't see any future for the club if FV pull out.

It seems only one other bid for the hotel has been received by the Administrator of the hotel and for all we know that could be Ken's proxy with a bid of just one pound!

Yes, he would stand to lose £3.5m on the hotel but who else would buy the stadium out of liquidation, and so he could recover his 'losses' buy buying it cheaply - who else wants a 25,000 seater stadium in Horwich?

Own the hotel and stadium and then sell it on to a property developer for a killing.

What's not to like if you were in Anderson's shoes?

Maybe/hopefully I'm well wide of the mark on this though.

Why couldn't the property developer buy it direct out of liquidation themselves rather than paying him a premium?

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5 minutes ago, Okocha10 said:

How have even put that even with today spellcheck shite you get ffs haha

I'm sorry.............?

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8 minutes ago, boltondiver said:

I'm sorry.............?

My spelling of gullible which you noticed

Edited by Okocha10

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17 minutes ago, ProfessorWoland said:

Why couldn't the property developer buy it direct out of liquidation themselves rather than paying him a premium?

I'm assuming that the hotel is part of the alleged purchase of Burnden Leisure from Ken by Bassini - and if so, would too be stayed until the legal wrangling is resolved.

If FV walk away from the club because they can't/won't wait things out, then presumably they pull the bid on the hotel as well leaving just one left on the table?

If that happens and that bid is £5.5m, then James/PBP have no reason to reject it and he/they take the money and walk off too - just as soon as the court action ends which I suggest would be by a private settlement done immediately after FV leaving the scene.

Anderson (via a proxy) would now own the hotel.

Whoever buys the stadium would then have to consider doing business with the owners of the hotel if they wanted to develop the stadium in any way.

Maybe not many probably would, leaving a relative cheap purchase for Ken/his proxy/backer/whoever to buy out of liquidation.

Cost to do so would be added to the £5.5m for the hotel purchase and anything above that from a sale to a  developer would be profit and if the profit was more than the £3.5m he would be better off financially, than if the hotel simply was sold for £9m (£5.5m PBP and the £3.5m for Anderson).

All if, buts and maybe's and I'm certainly not saying this will happen but for me at least such action would explain the bizarre Bassini interventions over the last month or so and why he's put in an injunction now and not weeks before as most would have?

Hopefully the judge will take one look at it, throw it out and then we are back to where we were before the injunction.

 

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Does anyone know...let’s say judge rules in Bassini’s favour....surely even then they can’t rewind and just hand him the keys and say ‘admin never happened’. So say the outcome was Bassinis wins does it then become about what he can get financially?

Because the administrators are appointed on a legal basis have racked up fees and the deal to buy the club now is entirely different to when Bassinis alleges he has one. I can’t imagine it’s even possible to just unwind the last few months, given costs have been incurred and given the legal position of the business is completely different.

A court cannot force admins to sell to Bassini as the situation now is dIfferent. Also the action is not against them.

So what happens then? I just cannot see any outcome where a judge hands Bassini the keys even if he’s right re the contract. But perhaps I’m wrong?

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2 hours ago, gonzo said:

Bassini has spent the best part of today engaging with bolton fans after being added to various whats app groups. 

He today said in one I’m in that MJ only cares about money and he’s doing everything he can to get the club.

If he really hasn’t got the money and really hasn’t got a leg to stand on with the injunction then he needs putting in a psychiatric unit.

I have no idea what his agenda is, but he’s still here, somebody is paying for him to still be here and he’s certainly not for giving up. 

 

If we've learned something today about Bassini, it's that he doesn't like videos of a certain nature. :D

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8 minutes ago, DazBob said:

If we've learned something today about Bassini, it's that he doesn't like videos of a certain nature. :D

Yes, he wasn't keen on the Love Island nudes.

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That Bolton Wanderers and Proud have uploaded part of a conversation theyve had with him tonight. I don't really agree with giving this bloke the oxygen of publicity, but even a 1 minute snippet of it is enough to make you question this man's faculties.

"That Mike Jones or James I think it is yeah..."

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24 minutes ago, bwfcfan5 said:

Does anyone know...let’s say judge rules in Bassini’s favour....surely even then they can’t rewind and just hand him the keys and say ‘admin never happened’. So say the outcome was Bassinis wins does it then become about what he can get financially?

Because the administrators are appointed on a legal basis have racked up fees and the deal to buy the club now is entirely different to when Bassinis alleges he has one. I can’t imagine it’s even possible to just unwind the last few months, given costs have been incurred and given the legal position of the business is completely different.

A court cannot force admins to sell to Bassini as the situation now is dIfferent. Also the action is not against them.

So what happens then? I just cannot see any outcome where a judge hands Bassini the keys even if he’s right re the contract. But perhaps I’m wrong?

But there is a roundabout way this could happen ... or at least one that gets us to the same potential  outcome 

Its the scenario that worries me - and knowing our luck I am tempting fate , but imagine if tomorrow Quantuma the hotel administrators announce their preferred buyer for the hotel is someone other than FV . 

So on Wednesday Morning Rubens goes into court to lift an injunction that  stops  them  selling the club , when they no  longer have a buyer .

Maybe Rubens then does a deal with Bassini 

 

 

 

Edited by Benny The Ball

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