Article in Sunday Express saying takeover imminent.....

If ED was going to pay the tax bill, he would have paid it when it was a lot less.

But then that's logic, and nothing about all this has been logical.

They don't have any money mate.

Then it won't be ratified.

Just don't believe that DH intends to fuck us up. SS might do inadvertently but that's the risk with anyone.

I didn't win the Euro lottery though.

I have to say, the tax bill not being paid is the one part of this that really doesn't make sense.

 

I'm not much of a tin foil hatter, but that suggests to me there is something still waiting to be revealed.

 

Murky.

I'm not much of a tin foil hatter, but that suggests to me there is something still waiting to be revealed.

 

Murky.

Davies wants us liquidated by the HRMC as he gets more out of us than actually selling to SS but he can blame others thus retaining his saint status

Someone was saying admin isn't possible now??

 

I'm not sure that's true

ED wanted someone with £20m to cover costs.

 

SS have £7.5M, but a plan to raise more

 

ED is now leaving £15M in the club, but wants it back when SS plans comes off. If they do not raise more but we are successful he still wants the £15M back.

 

Is any of that wrong ?

I think admin is only possible if a judge approves the request now? I though voluntary administration had to be taken within 7 days before the winding up petition at the latest?

I think admin is only possible if a judge approves the request now? I though voluntary administration had to be taken within 7 days before the winding up petition at the latest?

In the real world (and I have been down this route) admin is only possible from what I recall before the WUP is advertised (which is a minimum of seven days before the initial hearing) Not sure if the judge can over rule that though

What would be good is someone from the club coming out with what options are still possible, rather than us having to rely on "mark Iles believes that...., or Nixons statements designed to sell papers, or the numerous rumours on facebook/twiter/fans forums

In the real world (and I have been down this route) admin is only possible from what I recall before the WUP is advertised (which is a minimum of seven days before the initial hearing) Not sure if the judge can over rule that though

What would be good is someone from the club coming out with what options are still possible, rather than us having to rely on "mark Iles believes that...., or Nixons statements designed to sell papers, or the numerous rumours on facebook/twiter/fans forums

No chance of that though. The communication is poor.

ED wanted someone with £20m to cover costs.

 

SS have £7.5M, but a plan to raise more

 

ED is now leaving £15M in the club, but wants it back when SS plans comes off. If they do not raise more but we are successful he still wants the £15M back.

 

Is any of that wrong ?

 

It's 15 million of debt not liquid cash.

Fook the lot of them. I've had enough.

Sports Shield are a venture capital company, they exist to get the maximum return for the people that are part of it. It is then down to your opinion, mine is they will buy us for say £20m all in (tax, money down etc) and will look to at least double that before they sell, they will not throw money for transfer fees but will want to make us seen as a good investment then will sell. Having the interests of the actual club and fans is debateable, my gut tells me they don't, but it is only an opinion. (The £20mill is a made up figure, but working in the financial sector and dealing with these type of companies on a regular basis, they will want to at least double the return on the investment when they sell)

I'm not sure that's true

We can't put ourselves into Administration now.

 

The judge has to agree it but HMRC are pushing for the Winding Up.

 

At the last adjournment I read the HMRC appealed the adjournment but were overruled.

 

The only way I can see the Judge agreeing to administration is if he sees that BWFC are a going concern & as he stated at the last adjournment, the adjournment was to allow time for the takeover to go through & HMRC was to be paid as part of the takeover process.

 

As the takeover is struggling to go through in time & HMRC to be paid, come Monday, I'd be surprised if another adjournment was given, but you never know.

 

Either way, HMRC could appeal a further adjournment &, or, an administration ruling. HMRC wouldn't be doing their jobs on behalf of the tax payer if they didn't push for winding the club up, I'm guessing it all depends on whether they think they'd get more money out of Admin or Liquidation.

 

As Malcolm said, HMRC have been after a club for a long time, they could well stick their heels in to set an example to other clubs.

 

After the first adjournment, which was given for time for the first car park sale to go through, HMRC weren't happy that on return to court it had fallen through & they still weren't paid. Hence the appeal against the 2nd adjournment.

 

The potential takeover of the club gave us a stay of execution. I fear it may be 3rd strike & we're out after the Judge's last comments.

 

Looking at other cases, if you want to go into Voluntary administration, you have to do it within 7 days of the WUP being issued, we didn't. You can defend the WUP, to investigate the viability of administration after an adjournment, but basically by then, the Judge has to agree to it. During this time you can't sell any assets & various other things without the permission of the courts. Hence why we went to court for the sales the offices & car parks etc.

 

After these successful & failed sales, HMRC still haven't been paid, so how agreeable do you think they'll be to Administration come Monday?

Someone was saying admin isn't possible now??

 

I've just read the Mark Iles article in today's BEN and he seems to think we are in a position to go into admin if necessary.

 

If the consortium’s optimism proves misplaced, Wanderers have a number of options as they head to the hearing on Monday, which will be heard between 10.30am and noon.

They have prepared the ground for administration, appointing well-known financial advisors BDO-UK in the event a takeover looks unlikely or collapses altogether.

If they feel Sports Shield are guaranteed to get the go-ahead from the Football League, it is possible the club could use funds gained from the sale of assets to pay all or part of the outstanding fee.

 

 

 

 

 

 

 

 

They could also agree with HMRC to ask the judge for a third adjournment on the strength of the takeover going ahead, although that would run the risk of the request being refused, which would mean liquidation.

I think either Eddie will pay the tax bill on the basis that once sports shield takeover he gets it back. To buy enough time for the takeover to be done.

 

Or they will get the takeover done Monday morning before court.

 

I don't really see they have much option beyond that.

Exactly

 

It's a gamble of administration, not a given it'll be granted.

Sports Shield are a venture capital company, they exist to get the maximum return for the people that are part of it. It is then down to your opinion, mine is they will buy us for say £20m all in (tax, money down etc) and will look to at least double that before they sell, they will not throw money for transfer fees but will want to make us seen as a good investment then will sell. Having the interests of the actual club and fans is debateable, my gut tells me they don't, but it is only an opinion. (The £20mill is a made up figure, but working in the financial sector and dealing with these type of companies on a regular basis, they will want to at least double the return on the investment when they sell)

agree with this, I think their plan will be to stabilise the club and then try to get us to a position of mid table in the championship and then look to sell on for a good profit maybe looking to keep a small stake in the club

Cas, take your point on those players not being a part of current running costs.

 

Using them as examples of poor transfer strategy since we came down. If we wanted to run a big wage bill we should have bought younger players on lower wages which would have involved us paying transfer fees, but would have left us with more saleable as assets.

 

Loads of talk of this from PG, DF and NL but little action.

Cas, take your point on those players not being a part of current running costs.

 

Using them as examples of poor transfer strategy since we came down. If we wanted to run a big wage bill we should have bought younger players on lower wages which would have involved us paying transfer fees, but would have left us with more saleable as assets.

 

Loads of talk of this from PG, DF and NL but little action.

 

 

i know you get it

 

i ust get bored with folk bringing up pgs comments about the debt not being a problem as if to say 'what the fcuk was he on about'

 

They have prepared the ground for administration, appointing well-known financial advisors BDO-UK in the event a takeover looks unlikely or collapses altogether.

 Fuck me, we can't even attract the PDC now

Now that we are good as down, I'll back which ever route gives Eddie the least money. Just to be vindictive.

Now that we are good as down, I'll back which ever route gives Eddie the least money. Just to be vindictive.

Makes no difference to him because his wealth is such that he never needs to worry

 

Should ban the fucker from our ground though

P

Makes no difference to him because his wealth is such that he never needs to worry

 

Should ban the fucker from our ground though

Seconded. Once all this is sorted. If it gets sorted.

P

Seconded. Once all this is sorted. If it gets sorted.

Thirded.

Fuck it, live fast, die young. What's worse, that or being shit for eternity like Wolves et al?

If only there were a literary character who personified this ????