It's happening. 

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

Thank fuck

12 minutes ago, Tonge moor green jacket said:

In your experience/knowledge, and given the apparent parlous state of things, would LB be better just sueing Ken for breach of contract, then come back in for the club once it's taken over?

If it does go long term, or FV walk away, then he may have nothing left to own.

That’s essentially what is now happening I think. Ken went back on what LB thinks is a legally binding agreement which importantly he believes he fulfilled his obligations of. KA lawyers state differently. 

If it transpires he did and judge rules in his favour then LB would then need to challenge the acquisition of the club by FV if FV or another entity complete. 

That would be lengthy and incredibly costly and I believe unlikely but is possible. 

But he can’t do anything until judge rules in whether he had legally completed on the purchase of the club. 

Interesting this is it wasn’t KA who put it into admin it was fildraw and they had legal right to do so given the loan was in default and they were secured creditor. Hence why this gets incredibly messy if LB goes down that route it isn’t a simple matter. 

This would in normal circumstances take months if not years. 

Unlikely to happen but LB isn’t rational and is being advised professionally by a competent firm I would imagine that he has grounds for all this and the onward process. 

 

6 minutes ago, boltondiver said:

Because of the assurances given by the judge?

What assurances? All he said was that the club could be sold. Anything can be sold but is open to challenge. 

https://www.bwfc.co.uk/news/2019/august/statement-on-behalf-of-paul-appleton-joint-administrator-for-bolton-wanderers2/

 

4 minutes ago, boltondiver said:

He said that there is no reason why a sale cannot happen

That wouldn't prevented the court ordering a sale back to Bassini at a later stage.

3 minutes ago, TrickyTrotter said:

https://www.bwfc.co.uk/news/2019/august/statement-on-behalf-of-paul-appleton-joint-administrator-for-bolton-wanderers2/

 

Please God

The Wanderers are coming up the hill boys ......

7 minutes ago, Escobarp said:

That’s essentially what is now happening I think. Ken went back on what LB thinks is a legally binding agreement which importantly he believes he fulfilled his obligations of. KA lawyers state differently. 

If it transpires he did and judge rules in his favour then LB would then need to challenge the acquisition of the club by FV if FV or another entity complete. 

That would be lengthy and incredibly costly and I believe unlikely but is possible. 

But he can’t do anything until judge rules in whether he had legally completed on the purchase of the club. 

Interesting this is it wasn’t KA who put it into admin it was fildraw and they had legal right to do so given the loan was in default and they were secured creditor. Hence why this gets incredibly messy if LB goes down that route it isn’t a simple matter. 

This would in normal circumstances take months if not years. 

Unlikely to happen but LB isn’t rational and is being advised professionally by a competent firm I would imagine that he has grounds for all this and the onward process. 

 

Sure, but I guess Bassini is just looking for some quick, easy, bucks. Assuming some degree of rationality.

1 minute ago, Mr Grey said:

Only 21 pages for completion

2000 anyone?

:lol: just kidding

 

4 minutes ago, Burnden Pies said:

Please God

No timescale though so it’s more waiting and hoping 

All the concerns about FV being put off are predicated on the assumption that if Bassini wins his case he would be in a position to get control of the club even if it's sold to FV now.

Are we 100% certain that today's ruling did not take that possibility out of the equation?

That statement tells the best part of fuck all, if it was an hour away from completion last week, it should still be.

1 minute ago, DomRepWanderer said:

That statement tells the best part of fuck all, if it was an hour away from completion last week, it should still be.

But that needs all the various signatories present in the room to sign the forms and shit like that.  Could take days to get them all in the same room again...

 

Just now, DomRepWanderer said:

That statement tells the best part of fuck all, if it was an hour away from completion last week, it should still be.

Need decision on Hotel - everything flows from that 

3 minutes ago, Hoppy510 said:

All the concerns about FV being put off are predicated on the assumption that if Bassini wins his case he would be in a position to get control of the club even if it's sold to FV now.

Are we 100% certain that today's ruling did not take that possibility out of the equation?

Yes 1000%

1 minute ago, Benny The Ball said:

Need decision on Hotel - everything flows from that 

Whats latest position on hotel??

Just now, bwfc2003 said:

Whats latest position on hotel??

Bids had to be in by last friday , preferred bidder / buyer should be announced by now 

I fully expect to see a minimum 8 new signings in Saturdays team sheet   otherwise   everybody out.   

I guess that FV will now do a risk assessment after today's proceedings.  Still no word from the hotel team, so everything still up in the air as we were last week.

15 minutes ago, Escobarp said:

Yes 1000%

If true, any two parties in cahoots could adopt this strategy from the outset and seize control of anything..(?)

Makes great sense.  Agree a deal then say it’s not valid. Let someone else buy it. Then Spend hundreds of thousands of pounds on legal costs and years of time trying to buy the same asset when you could have just honored the original deal and saved time and money?

im assuming youre on the wind up here?

So, are we less fucked than yesterday, more fucked or about the same?

I'm a council school lad and I don't speak legalese.

1 minute ago, Francis Fogarty said:

So, are we less fucked than yesterday, more fucked or about the same?

I'm a council school lad and I don't speak legalese.

Fuck knows Frannie Foggy!

It’s all down to how serious FV are now, there is a very slim chance it may cost them a bit of money in the near future to rid themselves of KA and the village idiot but doesn’t stop takeover. 

If they delay further then it proves that they are everything the village idiot says they are. 

2 minutes ago, hughmungus said:

It’s all down to how serious FV are now, there is a very slim chance it may cost them a bit of money in the near future to rid themselves of KA and the village idiot but doesn’t stop takeover. 

If they delay further then it proves that they are everything the village idiot says they are. 

Pretty spot on and very succinct summary 

thread can effectively be locked until FV show their hand now as until that point nothing is happening whatsoever

The sooner they do, the sooner we can look to sign a couple up. Going off what we've seen so far, it shouldn't take too much, a handful of judicious signings, to give us a decent chance of staying up. It just needs to happen quickly though.

A bit of hope and quality on the pitch and they may start to make a bit more through the turnstiles than initially anticipated.