Winding Up Orders

[Sluffy]

Deano's vehicle not Burnden Leisure

 

Deano's vehicle IS Sports Shield BWFC.

[Sluffy]

am i right that at worst, BM will have call over 5m + interest worth of BWFC assets?

 

and only then if BM can convince a court that SS actually owned said assets?

 

That would be my view too.

 

I can't understand how a minority shareholder (Holdsworth and Anderson's shareholding are roughly 47.5% apiece - the remain 5% being those who held on to their shares when Davies took over) could act like this - surely such action would require a majority agreement (or authority that they were acting in respect of the majority)?

 

The club secretary (Simon Marland) signed the deal - so I assume everybody thought it was legal at the time.

 

I had thought with Anderson stating he had acquired a wodge of Holdsworth shares for money that this was part of the deal between the three to resolve everything amicably to everyone's satisfaction.

 

I guess the need for an adjournment proves that is currently still not the case.

[Sluffy]

Super White Smurf (who I think works at the courts or at least seems to have inside knowledge) has tweed this -

 

 

SSBWFC decision: Blumarble have requested an adjournment until 12 Jun as discussions underway for full payment .

Edited May 22, 2017 by Sluffy

[Casino]

surprised the request has come from BM

 

expected it the other way

[Sluffy]

And has just posted this -

 

Corrected: Court SSBWFC outcome: Blumarble requested an adjournment until 12 Jun, as discussions underway for full repayment. Approved.

[Jol_BWFC]

am i right that at worst, BM will have call over 5m + interest worth of BWFC assets?

 

and only then if BM can convince a court that SS actually owned said assets?

The strange thing appears to be that the security is over BL and not SS. If BM have a qualifying floating charge over the assets of BL (Sluffy's link to Companies House suggests there is a floating charge) then there is a possibility they could put BL in administration. They could also appoint receivers over fixed charge assets (such as property) and sell those to raise funds to repay the debt.

 

But there are various questions I don't think anyone on here can say they definitively know the answer to, which means it's not that simple. For example, is that security valid or is it challengeable? I recall Ken was suggesting something along those lines.

 

The best thing that can happen at the moment is that BM get paid off and fall out of the picture once and for all. Then Ken and the club can get on with lifting the transfer restrictions and planning for next season. The latest tweets sound positive that negotiations are under way so that this may happen.

[Guest]

The strange thing appears to be that the security is over BL and not SS. If BM have a qualifying floating charge over the assets of BL (Sluffy's link to Companies House suggests there is a floating charge) then there is a possibility they could put BL in administration. They could also appoint receivers over fixed charge assets (such as property) and sell those to raise funds to repay the debt.

 

But there are various questions I don't think anyone on here can say they definitively know the answer to, which means it's not that simple. For example, is that security valid or is it challengeable? I recall Ken was suggesting something along those lines.

 

The best thing that can happen at the moment is that BM get paid off and fall out of the picture once and for all. Then Ken and the club can get on with lifting the transfer restrictions and planning for next season. The latest tweets sound positive that negotiations are under way so that this may happen.

 

This is how I see it. I suspect there is absolutely no realistic challenge of the security, given it is signed by officials representing the club as a business. I think Ken may have floated that line to give himself some leverage in discussions with Blumarble. I'm positive he knows it will have to be paid but probably trying to negotiate on the repayment plan and timescales. 

[Casino]

its at times like this i ask myself

 

 

would you want KA with you or against you

 

and every time i get the same answer

[Sluffy]

If BM is being paid off in full it does sound that some money from somewhere is coming into the club.

 

Maybe Anderson has now finally bought Holdsworth shares and sold them on to a new investor in the club perhaps?

[Sluffy]

Just to be clear, when I talk above about Anderson buying shares from Holdsworth I mean shares in the club (Burnden Leisure plus all the other bits and pieces such as the hotel) and NOT Holdsworth's shares in his business Sports Shield BWFC.

 

It seems my assumption that Anderson bought Holdsworth's shares in the club may have been wrong.

 

Super White Smurf tweeted this today -

 

"Thanks. True but KA purchased shares in SSBWFC so SSBWFC and Inner Circle company split ownership of BL is still 47/47 mate".

 

https://twitter.com/SuperWhiteSmurf

 

See comments under the Lion of Vienna article he wrote.

 

(the blog article itself is poor reading imo).

 

 

 

I have no idea if Firth (Smurf) actually knows this or assumes this because SSBWFC still only lists them as having one Director, Dean Holdsworth.

 

https://beta.companieshouse.gov.uk/company/09910069/officers

 

Although you don't necessarily need to be a director simply to own part of the business.

 

 

If Anderson has bought into SSBWFC and SSBWFC controls the shares in the club then surely he would have had to buy a majority in SSBWFC to control the shares - otherwise what is the point?

[Guest]

It seems my assumption that Anderson bought Holdsworth's shares in the club may have been wrong.

 

Super White Smurf tweeted this today -

 

"Thanks. True but KA purchased shares in SSBWFC so SSBWFC and Inner Circle company split ownership of BL is still 47/47 mate".

 

https://twitter.com/SuperWhiteSmurf

 

See comments under the Lion of Vienna article he wrote.

 

(the blog article itself is poor reading imo).

 

 

 

I have no idea if Firth (Smurf) actually knows this or assumes this because SSBWFC still only lists them as having one Director, Dean Holdsworth.

 

https://beta.companieshouse.gov.uk/company/09910069/officers

 

Although you don't necessarily need to be a director simply to own part of the business.

 

 

If Anderson has bought into SSBWFC and SSBWFC controls the shares in the club then surely he would have had to buy a majority in SSBWFC to control the shares - otherwise what is the point?

 

I imagine he's bought less than half the SSBWFC shares. And plans to buy the other half once the BM situation is sorted. Just guessing like. 

[Kane57]

Super White Smurf (who I think works at the courts or at least seems to have inside knowledge) has tweed this -

 

 

SSBWFC decision: Blumarble have requested an adjournment until 12 Jun as discussions underway for full payment .

He doesn't work for the courts.

[Sluffy]

He doesn't work for the courts.

 

To be honest it isn't my business where he works but he's put in the public domain a great deal of information of being close to what is going on in the courts and posted office copies of stuff that one assumes is in the office where he works, that I would say if it wasn't the courts he probably works at Companies House.

 

I only mention where I thought he worked in the context of how good his information is.

 

Long may he keep us informed on matters.

[burnden]

superagent73‏ @superagent73  13m13 minutes ago

More

Evening all . Extremely positive and successful day , good news will follow tomorrow #bwfc

[Doomandgloom]

For clarification, Simon Marland is not the 'Club Secretary'. He mysteriously claimed he was when witnessing Deano's signature to the  contract to guarantee BWFC assets against the Blumarble loan.

[Guest]

For clarification, Simon Marland is not the 'Club Secretary'. He mysteriously claimed he was when witnessing Deano's signature to the  contract to guarantee BWFC assets against the Blumarble loan.

 

 

Now...Football Secretary. What was he then? Is there much difference between the two roles/titles?

 

 

http://www.bwfc.co.uk/club/staff-index/

[Guest]

For clarification, Simon Marland is not the 'Club Secretary'. He mysteriously claimed he was when witnessing Deano's signature to the  contract to guarantee BWFC assets against the Blumarble loan.

 

 

On the official Fb page he seemed to be last year. Wha date was this loan signed?

 

 

https://www.facebook.com/officialbwfc/posts/1141135872593422

[Casino]

Now...Football Secretary. What was he then? Is there much difference between the two roles/titles?

 

 

http://www.bwfc.co.uk/club/staff-index/

http://www.bbc.co.uk/news/uk-england-manchester-31626754

 

Obvs, it wouldn't be the first time the BBC got something wrong

 

I'm sure Smurf will make out it's something sinister

[Sluffy]

For clarification, Simon Marland is not the 'Club Secretary'. He mysteriously claimed he was when witnessing Deano's signature to the  contract to guarantee BWFC assets against the Blumarble loan.

 

Obviously Doomandgloom is a wum - and a poor one at that.

 

Simon Marland IS Mr Bolton Wanderers,

 

He's written a number of club authorised books on the club including -

 

Bolton Wanderers: The Complete Record -

 

https://www.amazon.co.uk/Bolton-Wanderers-Complete-Simon-Marland/dp/185983972X

 

and

 

Bolton Wanderers: 100 Years at Burnden Park -

 

http://www.ebay.ie/sch/Books-Comics-Magazines/267/i.html?_sop=19&_nkw=simon+marland&_frs=1

 

 

He's been the club's secretary for years and is described as such in this link to the Bolton News dated 7th April, 2011 (over SIX YEARS ago).

 

http://www.theboltonnews.co.uk/sport/8958650.amp/

 

He is shown as the 'Football Secretary' on the current official site of the club -

 

http://www.bwfc.co.uk/club/staff-index/

 

 

Simon Marland did have the authority to sign on behalf of the club but whether he did so correctly I guess is what Anderson will have been questioning.

 

 

Note - just for clarity the term 'secretary' in this instance means 'Chartered Secretary' - a high-ranking professional with a broad base of skills unique among the professions. Trained in corporate law, finance, governance, company secretaryship and management.

 

Not someone who may type a few letters and copy a few document type person.

[Mike Hunt]

If BM is being paid off in full it does sound that some money from somewhere is coming into the club.

 

Maybe Anderson has now finally bought Holdsworth shares and sold them on to a new investor in the club perhaps?

Sadly, the cynic in me still puts together a £5m debt and £5m prize money for promotion and comes up with an amicable solution and still no pot to piss in

[Underpants]

It's nice if you can follow and understand this shit. I did follow and understand everything early on in this complicated mess. I've given up on it now. Im bored with it and life is too short. Cheesecake anyone?

[Traf]

Sadly, the cynic in me still puts together a £5m debt and £5m prize money for promotion and comes up with an amicable solution and still no pot to piss in

 

That's still progress, mate.

 

Debt is bad.

[bolton va va]

Sadly, the cynic in me still puts together a £5m debt and £5m prize money for promotion and comes up with an amicable solution and still no pot to piss in

Aye, but clearing debt &  winning promotion to bring in extra revenue has stopped the decline & got us moving ( slowly ) in the right direction on & off the pitch.

 

We still haven't got a pot to piss in, but if we can pay Bluemarble off, at least we won't still be paying for the previous pot.

[Walkden White]

http://www.theboltonnews.co.uk/sport/wanderers/15302660.Whites_granted_extra_time_by_courts/

 

Does this mean that there are now other parties wanting to invest already or am I missing something? If so is this in conjunction with KA or against him?

[Gonk]

Either or both.

Clear as mud.

HTH