Howardroark

I don’t think it’s fair for you to publish Mr Gordon’s email address, he has only one obligation, and that is to his client. That being said, the issue for ED Trustee’s (Moonshift) is that by putting the club in to administration they expose themselves to significant risk of being personally responsible for some of the debt. Fraudulent trading (essentially taking funds/services with no clear intent to repay) removes the protection of LTD company status. Given that a significant portion of their outstanding balance is owed by KA (ICI) and not BWFC, there is no financial reasoning for them to force administration.

Well to enter administration you have to give formal notification of the intent to appoint administrators, so Tuesday a long shot. Bassini will hang around whilst he thinks he can sneak the club in to his ownership.

Familiar with the tenants of Sharia Law are we?

Players aren’t football creditors. They are also underwritten by PFA so why stick around?

No, can’t, there are parts of that process that are against Sharia Law

Dragged out until player contracts expire or they walk.

They won’t wind up whilst a buyer is in place and whilst admin is an option. Sale through Admin delivers far more back to HMRC than liquidation.

Admin brings with it a whole load of new parties that will be assssed by the administrators and either allowed or disallowed to make a bid. Highest bid wins.

No, we provided him with Due Dilligence. Dragged on until player contacts expire on 30/6, administration, new buyer, probably somebody leveraged up, speculating on asset and land value.

Nothing in it for me. Zero chance of liquidation

I did originally believe it to be Parminder, however we laid a trap for him (PA) on the day I took leave of absence that he walked in to.

No role

That option is possible, but essentially the no pre-pack rule is tantamount to creating an auction, or at least trying to. You have to get the best deal for the creditors and so time must be given for other bidders.

Depends if not playing is classed as deriliction of duty and therefore grounds for dismissal.

You can’t pre-pack a football club, ST have to be given 28 days to try and buy.

Do elaborate, rain man

Administration all but guarantees him the funds to pay back Moonshift, liquidation does not and he would continue to be liable for the remaining amount. The determining factor is how much admin costs him to fund versus the amount he may still owe Moonshift after liquidation. Admin is MUCH cheaper if all the players have terminated their contracts due to lack of pay, same with club staff....

Administration itself is the running costs of the business whilst a buyer is found. Note this reduces significantly for BWFC upon the expiry (or termination) of player contracts. The cost of purchase from administration is different for football clubs than a normal business. The rules are that all football creditors must be paid in full and all unsecured creditors receive a minimum percentage return, I think it’s 30%. Because of the charges in place, the secured debt would need to be paid in full too. This puts you at about £23M.

It’s his interpretation of it: Its like buying a house, providing you pay me ‘x’ amount I’ll transfer you the deeds. We have a contract for sale but until you complete your side, you don’t own the house. Now you may well put down a deposit to secure the rights to buy, but again that doesn’t make you the owner. I suspect Bassini’s issue is that he’s confusing ‘exclusivity’ with ‘ownership’. He doesn’t think admin should be allowed because he’s paid some money (albeit to his own solicitor) as a first step to completion. Honestly I think he’s trying to get the EFL to approve him without the proof, he’s too obvious.

Reading through all your past comments I detect a concurrent theme of wanting to put people down. May I ask what you gain from it? Are you one of these chaps who enjoys seeing the world burn? Do you revel in misery? Are you ok?

Yes and a percentage of sale value

Yes, he’s the one with the Far East connections. Also very close with John Williams via Paul Senior.

No it will require less upfront, Irv. As in you are free to make deals with creditors to stagger payments, as opposed to admin where it’s all upfront.

It’s bankrolling (unsecured) and a legacy obligation (secured), KA wants the same legacy deal and that puts a £30M hole in the profit obtained from PL status.

I think it’ll be ok, admin will atttact somebody, it’s just how they obtain the funds to buy from admin, I suspect Blu Marble 2.0