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Alan Nixon @reluctantnicko 15m15 minutes ago

Alan Nixon Retweeted Dave Stebbs

Would you prefer they gave Anderson a fortune? Or kept it for the club? Would love to know your answer

I gave my answer a couple of hours ago:

''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''.

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5 minutes ago, HomerJay said:

I love the fact that the deal has fallen through because of Ken, even though we have absolutely no idea what's going on. 

It’s 2019 Homo

The truth is irrelevant 

hes just a greedy bastard, as it’s much easier for folk to understand 

For similar please refer to anything Brexit related

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4 minutes ago, Chris Custodiet said:

Alan Nixon @reluctantnicko 15m15 minutes ago

Alan Nixon Retweeted Dave Stebbs

Would you prefer they gave Anderson a fortune? Or kept it for the club? Would love to know your answer

I gave my answer a couple of hours ago:

''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''.

Even if it means a 2 point deduction for next season? Not aimed at you Chris, more a response to the Tweet.

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48 minutes ago, tyldesley_white said:

Twice now the Club as been on its arse and twice he's been MIA, just saying

He'd never have a holiday if he was only allowed one when the club wasn't on its arse.

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3 minutes ago, Roger_Dubuis said:

He'd never have a holiday if he was only allowed one when the club wasn't on its arse.

I suspect that occasionally he has to answer to a higher authority, SWMBO

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If this does not get sorted next week Are we more likely to be forced into admin or liquidation ? When we go to court ? 

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5 minutes ago, Farnywhite said:

If this does not get sorted next week Are we more likely to be forced into admin or liquidation ? When we go to court ? 

Can’t go in to administration, costs £20M due to EFL rules, would be liquidation.

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1 minute ago, Howardroark said:

Can’t go in to administration, costs £20M due to EFL rules, would be liquidation.

That definitely? Never knew that 

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1 minute ago, radcliffewhite1 said:

That definitely? Never knew that 

I think Howard makes it up as he goes along -

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Just now, bwfc2003 said:

I think Howard makes it up as he goes along -

He's right on that.

We can't do admin.

It shit or bust

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Just now, radcliffewhite1 said:

That definitely? Never knew that 

So EFL hold what’s called a ‘golden share’ in every football club. That means they have to agree to administration. 

Their terms are: 

100% settlement of football debts (fees owed to clubs etc) 

Minimum 25% made available to all other creditors. 

As the club has £16M in secured creditors these will get paid off first, meaning another £3-4M needs to be found to pay the 25% threshold to the other creditors, gives a total of £19-20M plus fees. 

Problem is that money has to be paid up front, same as in a pre-pack administration and Basran didn’t have it, even taking out the £5.5M to PBP....

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3 minutes ago, bwfc2003 said:

I think Howard makes it up as he goes along -

Wouldn’t waste my time

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3 minutes ago, Howardroark said:

So EFL hold what’s called a ‘golden share’ in every football club. That means they have to agree to administration. 

Their terms are: 

100% settlement of football debts (fees owed to clubs etc) 

Minimum 25% made available to all other creditors. 

As the club has £16M in secured creditors these will get paid off first, meaning another £3-4M needs to be found to pay the 25% threshold to the other creditors, gives a total of £19-20M plus fees. 

Problem is that money has to be paid up front, same as in a pre-pack administration and Basran didn’t have it, even taking out the £5.5M to PBP....

Thanks 

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6 minutes ago, Howardroark said:

So EFL hold what’s called a ‘golden share’ in every football club. That means they have to agree to administration. 

Their terms are: 

100% settlement of football debts (fees owed to clubs etc) 

Minimum 25% made available to all other creditors. 

As the club has £16M in secured creditors these will get paid off first, meaning another £3-4M needs to be found to pay the 25% threshold to the other creditors, gives a total of £19-20M plus fees. 

Problem is that money has to be paid up front, same as in a pre-pack administration and Basran didn’t have it, even taking out the £5.5M to PBP....

Are secured and football creditors one and the same?

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4 minutes ago, Tonge moor green jacket said:

Come on down Peter Kenyon. Or someone.

Could this be the club's last game?

There is another bidder, always has been, just not through Ken.

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Posted (edited)
2 minutes ago, onlyoneawalker said:

Are secured and football creditors one and the same?

No, but a secured creditor will always get paid first so they have to be paid in full before you can move on to the unsecured creditors, who are entitled to 25% under the EFL rules.

Edited by Howardroark
Change

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14 minutes ago, Howardroark said:

Can’t go in to administration, costs £20M due to EFL rules, would be liquidation.

Liquidation bwfc does not exit any more how did Glasgow Rangers manage to keep there history ? Thought once you got liquidated the club no longer existed and had to be renamed like Darlington and Halifax or is there away round it ? 

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Just now, Farnywhite said:

Liquidation bwfc does not exit any more how did Glasgow Rangers manage to keep there history ? Thought once you got liquidated the club no longer existed and had to be renamed like Darlington and Halifax or is there away round it ? 

Rangers FC ceased to exist.

The current incarnation is a new company entirely.

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Posted (edited)
4 minutes ago, Farnywhite said:

Liquidation bwfc does not exit any more how did Glasgow Rangers manage to keep there history ? Thought once you got liquidated the club no longer existed and had to be renamed like Darlington and Halifax or is there away round it ? 

The assets are purchased out of liquidation, name, stadium etc 

The owner of the assets would then apply to the league to join as a member. 

With Rangers the assets were purchased by Charles Green under a new company, but the SPL refused to allow membership, the SFL did however approve membership.

Also worth noting that Rangers were liquidated by HMRC who refused to allow them to escape via administration.

Edited by Howardroark
Addition

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Just now, Howardroark said:

The assets are purchased out of liquidation, name, stadium etc 

The owner of the assets would then apply to the league to join as a member. 

With Rangers the assets were purchased by Charles Green but the SPL refused to allow membership, the SFL did however approve membership.

Also worth noting that Rangers were liquidated by HMRC who refused to allow the to escape via administration.

How much did they owe HRMC? 

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