Sluffy Posted March 20, 2018 Posted March 20, 2018 Google football creditors rule chief. Safe to say HMRC are not massive fans of it. I have but the only recent high profile case where actual Administrators were involved - Glasgow Rangers (March, 2012) - there was a definite intent to 'sack' players if they did not agree to an immediate 75% wage cut. https://www.theguardian.com/football/2012/mar/06/rangers-top-earners-pay-cut I would have thought the SPL would have been similarly set up in respect as the Premier League in respect to the Football Creditors Rule - and thus based my comments up on the actual dealings of the insolvency Administrator at Rangers. Quote
RoadRunnerFan Posted March 20, 2018 Posted March 20, 2018 (edited) I have but the only recent high profile case where actual Administrators were involved - Glasgow Rangers (March, 2012) - there was a definite intent to 'sack' players if they did not agree to an immediate 75% wage cut. https://www.theguardian.com/football/2012/mar/06/rangers-top-earners-pay-cut I would have thought the SPL would have been similarly set up in respect as the Premier League in respect to the Football Creditors Rule - and thus based my comments up on the actual dealings of the insolvency Administrator at Rangers. Rangers were liquidated. Look at all the other administration cases instead. Football authorities took a very dim view, remember the aggro getting Gregg Wylde's international clearance? Edited March 20, 2018 by RoadRunnerFan Quote
Sluffy Posted March 20, 2018 Posted March 20, 2018 The one concern is that KA hasn’t supplied any information about future investment and how we continue to trade going forward without that investment. Nor do we know how or when he plans to pay off the debt. That's true but he's traded two years now without ever giving such details before either. As for the debt to creditors it looks superficially at least that the only major payment that needs to be dealt with is the BluMarble loan £4 million plus £300k interest falling due this November - which at least gives Anderson a chance to pay it from perhaps the events being held this summer. It seems the £2.5 million repayment to Warburton is in hand, the £5.5m from Prescot Business Park not being pressed for at Davies £10m still being a 'soft' loan that will probably be written off in time. We are obviously not out of the woods yet but I think we will be seeing the end of the financial tunnel soon - maybe the season after next. Quote
barryk32 Posted March 20, 2018 Posted March 20, 2018 https://twitter.com/loftytlion/status/976150456438280192 Just take a look at this conversation. This is what we're dealing with folks. What the actual bollocks do they want? I sure as fuck dont go to work every day for a laugh. Quote
bwfc2003 Posted March 20, 2018 Posted March 20, 2018 https://twitter.com/loftytlion/status/976150456438280192 Just take a look at this conversation. This is what we're dealing with folks. Who the fcuk is this Phillip Shortland - seems to crop up quite on twitter and facebook - seems a right loon Quote
Sluffy Posted March 20, 2018 Posted March 20, 2018 Rangers were liquidated. Look at all the other administration cases instead. Football authorities took a very dim view, remember the aggro getting Gregg Wylde's international clearance? True but that wasn't until June 2012 when HMRC (who were the major creditor) refused the CVA that the Administrator had been working towards - and which he was seeking a 75% reduction in players wages or players to be 'sacked' - which as I have already pointed out was in March 2012 and thus before any proposed liquidation and with the intent at that time to bring the club out of Administration. As the Football Creditors Rule was introduced long before 2012 and an Administrator in an actual footballing case had stated he would be making footballing redundancies unless they took a pay cut in order for the CVA (which HMRC ultimately rejected) to be achieved. I take your point though that I'm not aware of any players having been made redundant by an Administrator since the Football Creditors Rule was introduced but I do find it a moot point that in the Rangers case the Administrator clearly believed he had the power to still do so. I can only conclude that at least one Administrator still believes that power exits and would have been prepared to test it in the courts if he needed to. I guess also the Rangers players and their professional body (and their legal advisors) also believed the power existed otherwise they wouldn't have accepted a 75% wage cut at that time - which I presume was the rate they were paid at when the club was actually liquidated some months later. Quote
Casino Posted March 20, 2018 Posted March 20, 2018 You just need to look at his friends list Smurf and Bower More than enough said Quote
Sluffy Posted March 20, 2018 Posted March 20, 2018 Who the fcuk is this Phillip Shortland - seems to crop up quite on twitter and facebook - seems a right loon I believe that he also posts under the name of Suffolk Smurf (note NOT Super White Smurf, who is a different person) who posts on the Bolton News comments section. Both Suffolk and Super White are long time anti-Andersons. Quote
Casino Posted March 20, 2018 Posted March 20, 2018 I don' think he is officially..cant be sure as the website seems to have not been updated for ages But he does have links to the recent addition to the board, Simon nightingale Quote
Tonge moor green jacket Posted March 20, 2018 Posted March 20, 2018 The one concern is that KA hasn’t supplied any information about future investment and how we continue to trade going forward without that investment. Nor do we know how or when he plans to pay off the debt. To be honest, it doesn't bother me particularly. He's done so well with no money and continuing losses, that if we could be looking to turn a profit soon; then that should grow providing we show the same diligence. If outside investment comes in then fine; but it feels quite good to be living within our means and competing. A bit more honest if you will. Quote
tomski Posted March 20, 2018 Posted March 20, 2018 Ken was very complimentary about Eddie once again today. Quote
Mounts Kipper Posted March 20, 2018 Posted March 20, 2018 (edited) Ken was very complimentary about Eddie once again today. No wonder, he will want the 10 million debt to Eddie clearing off the books and that’ll increase his profit when he sells the club. Edited March 21, 2018 by Mounts Kipper Quote
Sluffy Posted March 20, 2018 Posted March 20, 2018 No wonder, he will want the 10 million debt to Eddie clearing of the books and that’ll increase his profit when he sells the club. I don't think it works like that as part of the deal on the £10m is Davies taking a share of whatever the club is sold for.(it also includes for payments to him if we get promoted to the Premier League). Davies should be given a great deal more credit than many people do I'm my opinion. Quote
Kane57 Posted March 20, 2018 Posted March 20, 2018 Ken was very complimentary about Eddie once again today. He would be, just in case he ever needs a few quid to keep the lights on Quote
Big E Posted March 20, 2018 Posted March 20, 2018 How you feeling about KA now kane57.....is he giving you that warm feeling yet Quote
Kane57 Posted March 20, 2018 Posted March 20, 2018 I'm ambivalent, as long as the club is still going then that's all I'm really bothered about. That said, he'll have my eternal admiration for rinsing Cardiff for six million pounds for that fucking shithouse stump bastard Madine. Quote
Traf Posted March 20, 2018 Posted March 20, 2018 I'm ambivalent, as long as the club is still going then that's all I'm really bothered about. That said, he'll have my eternal admiration for rinsing Cardiff for six million pounds for that fucking shithouse stump bastard Madine. Arguably the best post you've made on here. Quote
Mounts Kipper Posted March 21, 2018 Posted March 21, 2018 Whether you like Ken or not I don’t think anyone could have done a better job over the last 18 months with what he’s had to work and cope with and it’s no suprise Eddie Davies is seemingly onside and reportedly still helping out financially when required. Quote
Guest Posted March 21, 2018 Posted March 21, 2018 Ken took nothing last year. £525K this year. So average that out and its hardly unreasonable, for the amount of work required and level of expertise. Quote
radcliffe white Posted March 21, 2018 Posted March 21, 2018 Ken can take what he likes for me Good work fella???? Quote
gonzo Posted March 21, 2018 Posted March 21, 2018 He only said he'd take out what he put in. Not that he wouldn't take anything at all. How much do we think it cost to go the high court every week, or all the costs in getting rid of deano, or refinancing blue marble? Innner circle staff, barristers,accountants all needed paying for. Quote
Kane57 Posted March 21, 2018 Posted March 21, 2018 (edited) I'm a shallow fool Incorrect. I'm not shallow at all Edited March 21, 2018 by Kane57 Quote
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