Take Over

[Howardroark]

10 minutes ago, Chris Custodiet said:

Don't be silly. Of course the loan and MJ joining the FV board are related. But, until we are reliably informed otherwise, the loan is owed to PBP not to MJ and I cannot see how he can get it into his own name without the agreement of Tom Morris and without tax consequences.

So is it an attempt by Basran to appease a large creditor?

[Boo]

https://twitter.com/SuperWhiteSmurf/status/1106475769562316800?s=19

[Howardroark]

4 minutes ago, Boo said:

https://twitter.com/SuperWhiteSmurf/status/1106475769562316800?s=19

My ‘15 minutes’ begins.

[Tonge moor green jacket]

In fairness, he hasn't said basran hasn't got extra support he doesn't know of.

Purely that the available evidence suggests he might not have.

Whether that's helpful or not is for readers to decide.

Not sure the real guys will be too concerned either way.

[auckland_bwfc]

Didn't know you was a duck Howard

[Chris Custodiet]

56 minutes ago, Howardroark said:

So is it an attempt by Basran to appease a large creditor?

Unless Basran & co have access to huge pots of money, which appears questionable, he and his cohorts have no alternative but to reach an accomodation with creditors.

Neither would I automatically assume that Basran approached MJ for assistance rather than the other way round. Michael's had an interest in this for a lot longer than PB and SB and has at least one mutual acquaintance with major concerns and a material interest in the outcome.

I have to say that I don't  like, one bit, the idea of unsecured creditors being thrown to the wolves. That really would be shameful.

Edited March 15, 2019 by Chris Custodiet

[tyldesley_white]

38 minutes ago, Howardroark said:

My ‘15 minutes’ begins.

Shortland doesn't seem to like you.

Replying to @davidfiggins @SuperWhiteSmurf

And ‘Howard’ is completely having them over. It’s ‘Sluffy’ peddling his usual pro Anderson drivel based on speculation and ignorance dressed up with basic GCSE Business Studies finance knowledge. Eating out of his hand too

 

Oh and someone thinks Wanderers Ways is a fucking echo chamber of pro-Anderson cucks , you cant make this shit up

Edited March 15, 2019 by tyldesley_white

[snowball]

That smurfs twitter link made me laugh and passed a bored few minutes at least. Apparently WW is "an echo chamber of pro Anderson cocks"😂😂

[Howardroark]

26 minutes ago, auckland_bwfc said:

Didn't know you was a duck Howard

I don’t wish to be judged for it

[Howardroark]

21 minutes ago, Chris Custodiet said:

Unless Basran & co have access to huge pots of money, which appears questionable, he and his cohorts have no alternative but to reach an accomodation with creditors.

Neither would I automatically assume that Basran approached MJ for assistance rather than the other way round. Michael's had an interest in this for a lot longer than PB and SB and has at least one mutual acquaintance with major concerns and a material interest in the outcome.

I have to say that I don't  like, one bit, the idea of unsecured creditors being thrown to the wolves. That really would be shameful.

I suppose the issue with ‘settling’ with unsecured creditors is that you are unlikely to retain their services moving forward, therefore a major procurement exercise would need take place along with the potential for ‘pro-forma’ (cash only) terms. 

I do believe Basran wishes to avoid administration because I think the pre-pack costs are too high, the £5.5M saved on the PBP loan may actually be used to settle unsecured debt rather than on the squad/facilities.

[Howardroark]

25 minutes ago, tyldesley_white said:

Shortland doesn't seem to like you.

Replying to @davidfiggins @SuperWhiteSmurf

And ‘Howard’ is completely having them over. It’s ‘Sluffy’ peddling his usual pro Anderson drivel based on speculation and ignorance dressed up with basic GCSE Business Studies finance knowledge. Eating out of his hand too

 

Oh and someone thinks Wanderers Ways is a fucking echo chamber of pro-Anderson cucks , you cant make this shit up

Wait until I set Watsmore on him

[Traf]

So, as a deal is unlikely pre-Wigan game....

We lose and we're effectively down, so it will suit potential buyers to let us go into administration and take the 12pt hit and they can buy the club cheaper?

[bwfcfan5]

Just now, Traf said:

So, as a deal is unlikely pre-Wigan game....

We lose and we're effectively down, so it will suit potential buyers to let us go into administration and take the 12pt hit and they can buy the club cheaper?

If Ken can delay a week or so then he can force admin to cost points next season. I don't think buyers want it to go into admin. Adds a lot of delay, binds their hands in other ways such as a transfer ban and potentially means other parties can get ahead of them. 

[Kane57]

17 minutes ago, snowball said:

That smurfs twitter link made me laugh and passed a bored few minutes at least. Apparently WW is "an echo chamber of pro Anderson cocks"😂😂

Cucks

Pejorative of cuckold. Normally a political insult but there you go 

[Traf]

1 minute ago, bwfcfan5 said:

If Ken can delay a week or so then he can force admin to cost points next season. I don't think buyers want it to go into admin. Adds a lot of delay, binds their hands in other ways such as a transfer ban and potentially means other parties can get ahead of them. 

But he can only delay a week by settling up with HMRC before Wednesday?

[Traf]

19 minutes ago, snowball said:

That smurfs twitter link made me laugh and passed a bored few minutes at least. Apparently WW is "an echo chamber of pro Anderson cocks"😂😂

Really?

I think the overwhelming opinion on here is that it's high time Ken was gone.

[Wullie]

Well, the timing is key in regards to points deductions and when they happen:

 

"From 2007–08, any club entering administration after the fourth Thursday in March would have their 10-point deduction suspended until the following season"

 

Not sure if the above has changed, but they changed it after Leeds went into admin the day after they knew they would be relegated, and so closed the loophole and added the fourth Thursday in March timeline

[Mounts Kipper]

9 minutes ago, Traf said:

Really?

I think the overwhelming opinion on here is that it's high time Ken was gone.

I think you are correct, but the fact many on here were supporters of Anderson and that was clearly wrong and irrational thinking, in my opinion Anderson supporters took the opposite stance to the trust, just for the sake of it.  

Edited March 15, 2019 by Mounts Kipper

[Howardroark]

9 minutes ago, Traf said:

So, as a deal is unlikely pre-Wigan game....

We lose and we're effectively down, so it will suit potential buyers to let us go into administration and take the 12pt hit and they can buy the club cheaper?

‘Cheaper’ is still £19-£20M up front cash, Ken can’t afford to do it so he literally cannot put the club in to administration. Basran would have to buy out Ken and then announce administration; purchasing the assets from administration.

All Ken can do is allow a liquidation.

[Howardroark]

10 minutes ago, Traf said:

But he can only delay a week by settling up with HMRC before Wednesday?

That wouldn’t prevent another creditor applying for the club to be wound up on that day, there’s a process called ‘substitution’ whereby they take over the winding up order from the company that has been settled. 

But also, Ken can’t just ‘pay’ HMRC because that is seen to be giving preference to a creditor which is illegal when ‘insolvent’. 

Ultimately there needs to be a solution that settles every debt or an administration, that still leaves a buyer needing £20M

[Casino]

11 minutes ago, Mounts Kipper said:

I think you are correct, but the fact many on here were supporters of Anderson and that was clearly wrong and irrational thinking, in my opinion Anderson supporters took the opposite stance to the trust, just for the sake of it.  

 

the club is in no worse a position than when only holdsworth wanted to buy it for a quid

if nowt else, we have been able to tread water

who should have been running it for the last 3 years?

[bwfcfan5]

2 minutes ago, Casino said:

 

the club is in no worse a position than when only holdsworth wanted to buy it for a quid

if nowt else, we have been able to tread water

who should have been running it for the last 3 years?

Surely judgement on that will heavily depend on what happens over the next few days...if Ken sells it then you can legitimately argue that inspite of all his antics he has done a job of keeping us going and selling to hopefully a more stable position.

If he doesn't sell and we enter admin or worse then that is not the case...Eddie managed to keep us out of admin. 

[barrycowdrill]

Shortland is a cunt. End of 

[Chris Custodiet]

If KA and son have taken out more than £650K in 2018 (which I expect may be the case) he would only have also earned a profit on his shares if he was handing us over in an improved position or to someone with deep pockets who would ensure an  improved position.

Neither seems to be the case, so I could not argue that he has earned a profit on his shares. If I was part of the FV team, I'd be doing everything in my power to maximise available funds for the benefit of the company and not Ken.

[Kane57]

Uh-oh. BBC Manchester reporting that the Basran deal is off.