It's happening. 

https://www.theboltonnews.co.uk/sport/17405193.bolton-wanderers-close-to-takeover-from-uk-based-consortium/

Thank fuck

1 minute ago, Benny The Ball said:

 

So Howard you are saying that the administrator when appointed has no obligation to report this given his previous 8 year ban 

and even if they could report it no one is bothered ? They should be 

Its immoral that he can again get away with this behaviour  even though its clear for all to see what he has done 

Effectively we have monies that have gone from ED Trust - - > ICI --> KA then from KA --> BWFC 

In reality someone should investigate this SHAM cut KA out the loop and treat it as though its gone from ED Trust to BWFC 

 

 

It was questioned back in September. Why did ED lend the money this way? Why didn’t he lend the money to the club to sort out the BlueMarble loan?

4 minutes ago, Boby Brno said:

It was questioned back in September. Why did ED lend the money this way? Why didn’t he lend the money to the club to sort out the BlueMarble loan?

I think it was to do with ensuring that some responsibility remained with Ken.

If he didn't pay it back, he could lose his ownership.

If he lent it directly, then the club goes tits up, then not necessarily getting it back.

Whether that's worked is another matter. Iirc Howard explained it a few hundred pages back.

7 minutes ago, Boby Brno said:

It was questioned back in September. Why did ED lend the money this way? Why didn’t he lend the money to the club to sort out the BlueMarble loan?

I don't know, this entire thing seems fishy to me. 

Edited May 9, 20197 yr by leadfrog1
-

10 minutes ago, leadfrog1 said:

I don't know, this entire thing seems fishy to me. 

Does anyone know Eddies state of mind back then ?, I don't wish to sound disrespectful but are we sure he was capable of making rational decisions just before his tragic death ?

14 minutes ago, Boby Brno said:

It was questioned back in September. Why did ED lend the money this way? Why didn’t he lend the money to the club to sort out the BlueMarble loan?

My point is slightly different - why did ICI not lend to BWFC ? 

To facilitate Fraud ?

3 minutes ago, hughmungus said:

Does anyone know Eddies state of mind back then ?, I don't wish to sound disrespectful but are we sure he was capable of making rational decisions just before his tragic death ?

Probably hadn’t made a rational decision around Bolton Wanderers for quite a while?

36 minutes ago, Benny The Ball said:

My point is slightly different - why did ICI not lend to BWFC ? 

To facilitate Fraud ?

There was dubious excuse given along the lines of there being a previous winding up order in place which would have meant the money would have been eaten up by other expenses IIRC, however as inter-company lending was the MO Anderson used previously to asset strip businesses it stinketh.

1 hour ago, Pricey said:

Can KA then object to Fildraw's chosen administrator?

Yes

1 hour ago, Benny The Ball said:

 

So Howard you are saying that the administrator when appointed has no obligation to report this given his previous 8 year ban 

and even if they could report it no one is bothered ? They should be 

Its immoral that he can again get away with this behaviour  even though its clear for all to see what he has done 

Effectively we have monies that have gone from ED Trust - - > ICI --> KA then from KA --> BWFC 

In reality someone should investigate this SHAM cut KA out the loop and treat it as though its gone from ED Trust to BWFC 

 

 

KA called in the administrators at the point the business was (in his opinion) insolvent. 

If Fildraw put it in to administration then there will be accusations that KA didn’t comply with his director duties and put the business into administration at the point that it became insolvent. 

The £5M owed to ICI is a legitimate transaction so there’s nothing to report. 

It would be if KA failed to repay ED Trust that an issue arose but if ICI was to go into liquidation having paid that £5M to other creditors or for ‘expenses’ then there’s very little that can be done.

3 minutes ago, Howardroark said:

Yes

Who decides?

And does that then mean a likely further adjournment?

1 hour ago, Boby Brno said:

It was questioned back in September. Why did ED lend the money this way? Why didn’t he lend the money to the club to sort out the BlueMarble loan?

It was because the trust had no collateral to secure it against, by lending it to KA they were able to secure the loan by proxy.

54 minutes ago, Benny The Ball said:

My point is slightly different - why did ICI not lend to BWFC ? 

To facilitate Fraud ?

ICI did loan to BWFC via Burnden Leisure.

2 minutes ago, Tonge moor green jacket said:

Who decides?

And does that then mean a likely further adjournment?

Whoever has the better legal team 

1 minute ago, Howardroark said:

Whoever has the better legal team 

= Biggest wallet?

When in Admin, is Ken first port of call to payed out his 5m Loan as a secured Creditor? Before James and Warburton?

10 minutes ago, Inside Man said:

When in Admin, is Ken first port of call to payed out his 5m Loan as a secured Creditor? Before James and Warburton?

No, at the same time, upon completion of administration (when a buyer is found). 

ED Trust were actually clever in financing through KA & ICI as they protected themselves from what they perceived to be a near certain liquidation event.

17 minutes ago, Tonge moor green jacket said:

= Biggest wallet?

Yes and no, it’s often the devious, shadowy solicitors that work best in these situations, Saul Berendsen would be ideal.

1 minute ago, Howardroark said:

No, at the same time, upon completion of administration (when a buyer is found). 

ED Trust were actually clever in financing through KA & ICI as they protected themselves from what they perceived to be a near certain liquidation event.

Will there be buyers

Serious question @Howardroark

I've got to that point were it's breaking me 

16 minutes ago, Howardroark said:

ICI did loan to BWFC via Burnden Leisure.

Sorry I thought Ken did personally ?

Can I just backtrack 

Am I wrong in saying this 

Effectively we have monies that have gone from ED Trust - - > ICI --> KA then from KA --> BWFC 

What is the money trail 

36 minutes ago, Howardroark said:

KA called in the administrators at the point the business was (in his opinion) insolvent. 

If Fildraw put it in to administration then there will be accusations that KA didn’t comply with his director duties and put the business into administration at the point that it became insolvent. 

The £5M owed to ICI is a legitimate transaction so there’s nothing to report. 

It would be if KA failed to repay ED Trust that an issue arose but if ICI was to go into liquidation having paid that £5M to other creditors or for ‘expenses’ then there’s very little that can be done.

I'm a little confused over this bit Howard.

The last published accounts of ICI Ltd seem to show a loss and outstanding creditors of £500k as at Sept 2017, since then we know they have taken on a loan from Eddie for £5m.

If the company seems not to generate any revenue and the £5m was re-loaned to the club then how could it knowingly incur 'expenses' to others without knowingly being unable to settle the already secured and non secured creditors?

Ok I can accept that there were hopes of a sale of the club - but surely even that was on the basis of the secured creditor (Moonshift) being repaid in order to release the lien of the share ownership, to allow a sale to happen?

Wouldn't it seem highly 'suspicious' that ICI Ltd incurred presumably millions of pounds of 'expenses' to other creditors, to leave insufficient to pay the secured creditor back?

Almost tantamount to preference being shown to certain creditors and not to others in a business that was apparently insolvent at the time?

Edited May 9, 20197 yr by Sluffy
grammar errors

9 minutes ago, Howardroark said:

No, at the same time, upon completion of administration (when a buyer is found). 

ED Trust were actually clever in financing through KA & ICI as they protected themselves from what they perceived to be a near certain liquidation event.

Ok thanks. Whats Ken's tactics seeing been court numerous times over past few weeks and never requesting a Validation Order to unfreeze the Accounts why all this been going on. Seeing theres funds in the Accounts?

I recall over 3 years ago when similar events were going under Eddies reign, The Club requested one and got one to trade.

Trying to understand why never requested one.

18 minutes ago, Benny The Ball said:

Sorry I thought Ken did personally ?

Can I just backtrack 

Am I wrong in saying this 

Effectively we have monies that have gone from ED Trust - - > ICI --> KA then from KA --> BWFC 

What is the money trail 

ICI to BWFC

7 minutes ago, Inside Man said:

Ok thanks. Whats Ken's tactics seeing been court numerous times over past few weeks and never requesting a Validation Order to unfreeze the Accounts why all this been going on. Seeing theres funds in the Accounts?

I recall over 3 years ago when similar events were going under Eddies reign, The Club requested one and got one to trade.

Trying to understand why never requested one.

To force a situation that reduces staff numbers and allows for admin funding 

12 minutes ago, Sluffy said:

I'm a little confused over this bit Howard.

The last published accounts of ICI Ltd seem to show a loss and outstanding creditors of £500k as at Sept 2017, since then we know they have taken on a loan from Eddie for £5m.

If the company seems not to generate any revenue and the £5m was re-loaned to the club then how could it knowingly incur 'expenses' to others without knowingly being unable to settle the already secured and non secured creditors?

Ok I can accept that there were hopes of a sale of the club - but surely even that was on the basis of the secured creditor (Moonshift) being repaid in order to release the lien of the share ownership, to allow a sale to happen?

Wouldn't it seem highly 'suspicious' that ICI Ltd incurred presumably millions of pounds of 'expenses' to other creditors, to leave insufficient to pay the secured creditor back?

Almost tantamount to preference being shown to certain creditors and not to others in a business that was apparently insolvent at the time?

It wouldn’t be creditors, it would be the pro-forma payment for services.

23 minutes ago, Ratwhite said:

Will there be buyers

Serious question @Howardroark

I've got to that point were it's breaking me 

Yes there will be.