It's happening. 

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

Thank fuck

All this "detailed" info with "I think this has happened" or "Well its likely that this company put this charge on this",

its all bloody assumptions, the only people who know exactly what has gone on and what costs/charges involved, are Anderson, the Administrators and other creditors/money lenders. Everybody else knows fuck all so why write war and peace over assumptions and then get into arguments over it??? 

Genuine question, do people read those lengthy posts? 

26 minutes ago, Boothy said:

Genuine question, do people read those lengthy posts? 

Insomniacs

did anyone hear the bloke on virgin radio this morning talking about opinion vs fact?

this thread in a nutshell

Losing the will to live with these 'look how clever I am' posts. There is an Italian proverb that goes something like 'He who has the least to say, says it the loudest'. On this thread just swap the word 'loudest' for 'longest'.

16 minutes ago, Boothy said:

Genuine question, do people read those lengthy posts? 

No. Dont tell the fluffer and his disciples tho he clearly thinks hes doing a great public service let him believe his "work' on here educating the great unwashed is appreciated. I dont think he could take the rejection bless him

1 hour ago, Boothy said:

Genuine question, do people read those lengthy posts? 

No, really can't be arsed

1 hour ago, Boothy said:

Genuine question, do people read those lengthy posts? 

I always read the POF tales ones but never the boring shite about this

1 hour ago, Boothy said:

Genuine question, do people read those lengthy posts? 

No

It brings on my narcolepsy 

2 hours ago, Boothy said:

Genuine question, do people read those lengthy posts? 

No and one of them was posted at 2:30 in the morning. 

6 minutes ago, Morizio said:

No and one of them was posted at 2:30 in the morning. 

TBF, he started typing it at 8.30

1 hour ago, Biggish Dave said:

No, really can't be arsed

Me neither.

Still, don't mind the thread though, just skip the bits I can't be arsed with.

One day we will have new owners!

2 hours ago, Boothy said:

Genuine question, do people read those lengthy posts? 

Nope they're boring. 

2 hours ago, Sluffy said:

Ok and thank you, I am now happy to accept that now that someone with knowledge of accountancy can vouch for the discrepancy of the time line and the ability to do such a sequence of actions within the legality of company law.

I still am surprised however that this sequence of events  means that someone who actioned them is now able to take £5m out of the carcass of a company that was already struggling to pay its way and in default of wages/bonuses at the time leading to the player strike against St Mirren and continuing unpaid bonuses to the manager and his staff and former players still at the time of money into the club and straight out again to pay BM.

https://www.theboltonnews.co.uk/sport/16694087.ex-bolton-midfielder-karl-henry-claims-he-is-owed-money-by-club/

I would still have thought Ken Anderson's charge would be a third charge lying behind PBP and BM on the hotel and behind Moonshift, and BM on the club/BL - as if the money was used to settle BM first then surely it no longer was in the possession of KA to secure it against the assets freed up from the newly settled BM loan? 

Presumably then you can have as many loans as you like secured against the same assets even if they amount to well in excess of the assets actual worth - which doesn't seem good accountancy practice to me?

Never the less thank you once again.

(Also thank you for clearing up my earlier error in respect of the arrears of the hotel's account - I was indeed thrown by the initial Directors statement contained within the actual hotel accounts as you correctly assumed).

Sorry Sluffy. I know it might sometimes be difficult to see the wood for the trees but its really quite simple. BM wanted their money back, the club didn't have it and KA had scoured around to get the best deal he could from alternative potential lenders. In the end he ran out of time and  options and so called up Eddie.

Eddie loved the club to bits and, despite every reservation he must have held,  once again agreed. But the terms where that the loan would be to KA who would have the personal responsibility to repay it and would be given another six months to try to sell the club or risk losing his shares. It was not an indefinite loan.

BM got their money back plus interest amounting to about 4% and their security was released with KA taking similar security to the one BM had. Nobody has taken £5m.

You never know who reads WW. I see that notice of the appointment of BWFC's administrators was filed at Companies House this morning. It was only  yesterday that I noted, on these pages, that Quantuma, the hotel administrators, had filed notice of appointment whilst BWFC's administrators hadn't. 1-0 to Quantuma?

Is it a prerequisite of being on that boltoncunts site that all your posts have to be multiple paragraphs, full of conjecture and speculation and basically be dull as fuck🤷‍♂️

wrong post

 

 

Edited June 10, 20197 yr by sleepingindian

1 hour ago, Chris Custodiet said:

Sorry Sluffy. I know it might sometimes be difficult to see the wood for the trees but its really quite simple. BM wanted their money back, the club didn't have it and KA had scoured around to get the best deal he could from alternative potential lenders. In the end he ran out of time and  options and so called up Eddie.

Eddie loved the club to bits and, despite every reservation he must have held,  once again agreed. But the terms where that the loan would be to KA who would have the personal responsibility to repay it and would be given another six months to try to sell the club or risk losing his shares. It was not an indefinite loan.

BM got their money back plus interest amounting to about 4% and their security was released with KA taking similar security to the one BM had. Nobody has taken £5m.

You never know who reads WW. I see that notice of the appointment of BWFC's administrators was filed at Companies House this morning. It was only  yesterday that I noted, on these pages, that Quantuma, the hotel administrators, had filed notice of appointment whilst BWFC's administrators hadn't. 1-0 to Quantuma?

Why have they only filed it this morning, and is that a problem (eg. Club has to be in admin for 3 weeks minimum, but it's only been officially filed this morning)? And why would it be 1-0 to Quantuma for filing it on 3 June? Something to do with Quantuma wanting to run their administration process separately from the sale of the club?

Layman's terms, if possible.

I'm not overly worried about the sale of the club but the hotel process is niggling the back of my mind and I'm not really qualified to understand the potential issues that could be faced.

Edited June 10, 20197 yr by Mantra

15 minutes ago, Mantra said:

Why have they only filed it this morning, and is that a problem (eg. Club has to be in admin for 3 weeks minimum, but it's only been officially filed this morning)? 

No, if I remember rightly you have 8 weeks to file everything with Companies house in an Administration situation, could be wrong about that though... with most things at Companies house it tends to be longer than you think.  

1 minute ago, DLH said:

No, if I remember rightly you have 8 weeks to file everything with Companies house in an Administration situation, could be wrong about that though... with most things at Companies house it tends to be longer than you think.  

Thanks, I thought it would be too big a blunder for that to be the case but wanted to ask anyway.

Bring on Friday's announcement and then tackle the the hotel shite.

5 minutes ago, Mantra said:

Why have they only filed it this morning, and is that a problem (eg. Club has to be in admin for 3 weeks minimum, but it's only been officially filed this morning)? And why would it be 1-0 to Quantuma for filing it on 3 June? Something to do with Quantuma wanting to run their administration process separately from the sale of the club?

Layman's terms, if possible.

I'm not overly worried about the sale of the club but the hotel process is niggling the back of my mind and I'm not really qualified to understand the potential issues that could be faced.

I'm afraid I don't know what the time limit is for providing notice to Companies House of the appointment of an administrator but 1-0 to Quantuma was just a quip observing that Quantuma were quicker off the mark in this respect than BWFC's administrators.  I wouldn't make too much of it but my observation yesterday was not an inference that any time limit had been exceeded but it may have jogged someone's memory and prompted a quick response today.

I wouldn't speculate on likely outcomes but I would have thought that Quantuma had been brought in by KA to avoid him being at a disadvantage in the process.

3 minutes ago, Chris Custodiet said:

I'm afraid I don't know what the time limit is for providing notice to Companies House of the appointment of an administrator but 1-0 to Quantuma was just a quip observing that Quantuma were quicker off the mark in this respect than BWFC's administrators.  I wouldn't make too much of it but my observation yesterday was not an inference that any time limit had been exceeded but it may have jogged someone's memory and prompted a quick response today.

I wouldn't speculate on likely outcomes but I would have thought that Quantuma had been brought in by KA to avoid him being at a disadvantage in the process.

Thanks.

I take it there's not a massive rush to get the hotel out of administration as there is with the club, before the season starts.

I feel like the hotel sale could rumble on for some time yet and could be one of the first major challenges the new owner has to deal with.

Potential options:

1. The club owner buys the hotel out of admin, nice and simple.

2. Someone else owns the hotel and they run it with the club owner as a joint venture. Sort of simple.

3. Some cunt buys the hotel and gives the club a load of bollocks to deal with. Not at all simple.

Let's hope for option 1 or 2.

 

4 minutes ago, Chris Custodiet said:

I'm afraid I don't know what the time limit is for providing notice to Companies House of the appointment of an administrator but 1-0 to Quantuma was just a quip observing that Quantuma were quicker off the mark in this respect than BWFC's administrators.  I wouldn't make too much of it but my observation yesterday was not an inference that any time limit had been exceeded but it may have jogged someone's memory and prompted a quick response today.

I wouldn't speculate on likely outcomes but I would have thought that Quantuma had been brought in by KA to avoid him being at a disadvantage in the process.

Hotel's probably slightly less of a mess so Quantuma could get an idea of what needs to be done quicker. 

You have to announce the appointment on The Gazette first, putting it in the public domain, then the administrators have to submit an outline of the plan to get out of Administration to Companies house within 8 weeks. This is where my knowledge ends and its been longer than I care to remember since I studied any of this, so I'm assuming here a little, but I think that's the first real deadline for Companies house. 

I'm not certain if that plan gets published though, so it may be just the documents you see on the hotel that stay in the public domain.

43 minutes ago, Mr Grey said:

Do I bollox! ... they are on repeat and tell us nothing new.

We need some hot speculation very soon to keep us going.

If you scroll up really quickly and squint with one eye a magic eye type pattern appears in the shape of an Alaskan Pipeline. 

@Mantra 3 doesn't work however you look at it unless its someone with money to throw away and an axe to grind... working in partnership with the club it's losing £0.5m a year. Cut ties and that would plummet....  

It makes absolutely no commercial sense to be pedaling it separately.... even less the stance Quantuma took of setting the stall out of doing it there way after the obvious fuck up from the club administrators, if that burns bridges with any potential club owner