Razaldo9 Posted April 4, 2019 Share Posted April 4, 2019 3 minutes ago, Howardroark said: This is why KA sought the deal with Bassini and why he wasn’t originally going to contest the first liquidation. He DID NOT want the extension to the 8th May. ICI will be put in to administration on Weds 10th and as such BWFC will become a creditor of ICI to the tune of £13.3M. One would hope/assume that there are significant funds in ICI accounts that the administrators can access. The gamble KA took was Bassini completing before the 10th so that he takes his payout and keeps the ICI funds. I expect your team will know if they're likely to get in before the 10th. Presumably Ken will try to resurrect the deal with them if Bassini is not looking good? Link to comment Share on other sites More sharing options...
RatchetMan Posted April 4, 2019 Share Posted April 4, 2019 Just spoke to Ameobi in Tesco, he tells me the players have been paid and they trained this morning Link to comment Share on other sites More sharing options...
Morizio Posted April 4, 2019 Share Posted April 4, 2019 9 minutes ago, RatchetMan said: Just spoke to Ameobi in Tesco, he tells me the players have been paid and they trained this morning What did he have in his trolley? Link to comment Share on other sites More sharing options...
Chris Custodiet Posted April 4, 2019 Share Posted April 4, 2019 6 minutes ago, Howardroark said: This is why KA sought the deal with Bassini and why he wasn’t originally going to contest the first liquidation. He DID NOT want the extension to the 8th May. ICI will be put in to administration on Weds 10th and as such BWFC will become a creditor of ICI to the tune of £13.3M. One would hope/assume that there are significant funds in ICI accounts that the administrators can access. The gamble KA took was Bassini completing before the 10th so that he takes his payout and keeps the ICI funds. The gamble is Team Bassini pay £13m more than they need to or they don't? Anyone laying odds on that? Lets get back to facts. £13.3m seems a relatively precise figure, Howard. Any chance you can tell us where you got it from and how its made up? Link to comment Share on other sites More sharing options...
Howardroark Posted April 4, 2019 Share Posted April 4, 2019 6 minutes ago, Chris Custodiet said: The gamble is Team Bassini pay £13m more than they need to or they don't? Anyone laying odds on that? Lets get back to facts. £13.3m seems a relatively precise figure, Howard. Any chance you can tell us where you got it from and how its made up? Essentially yes, them paying the £13.3M that is owed to various factoring companies but currently listed as an intercompany debt. It came from the due diligence and it’s not broken down by anything other than creditor reference. Link to comment Share on other sites More sharing options...
WestStandUpper Posted April 4, 2019 Share Posted April 4, 2019 26 minutes ago, Howardroark said: This is why KA sought the deal with Bassini and why he wasn’t originally going to contest the first liquidation. He DID NOT want the extension to the 8th May. ICI will be put in to administration on Weds 10th and as such BWFC will become a creditor of ICI to the tune of £13.3M. One would hope/assume that there are significant funds in ICI accounts that the administrators can access. The gamble KA took was Bassini completing before the 10th so that he takes his payout and keeps the ICI funds. Who will put ICI in administraton? Link to comment Share on other sites More sharing options...
Howardroark Posted April 4, 2019 Share Posted April 4, 2019 6 minutes ago, WestStandUpper said: Who will put ICI in administraton? My buyers, as a secured creditor Link to comment Share on other sites More sharing options...
Kane57 Posted April 4, 2019 Author Share Posted April 4, 2019 30 minutes ago, RatchetMan said: Just spoke to Ameobi in Tesco, he tells me the players have been paid and they trained this morning How do you know it was him? Was he moving round really slowly Link to comment Share on other sites More sharing options...
WestStandUpper Posted April 4, 2019 Share Posted April 4, 2019 1 minute ago, Howardroark said: My buyers, as a secured creditor Excellent... on what grounds? So more to just nicking his shares then? Make KA suffer in every possible way. I'm sure you boys will get control on Tuesday, can feel it in my water. Link to comment Share on other sites More sharing options...
WestStandUpper Posted April 4, 2019 Share Posted April 4, 2019 21 minutes ago, Morizio said: What did he have in his trolley? Hasnt he refused to play for rest of the season? Link to comment Share on other sites More sharing options...
Site Supporter Tonge moor green jacket Posted April 4, 2019 Site Supporter Share Posted April 4, 2019 He'll have been buying bottled water for the lads. Link to comment Share on other sites More sharing options...
Site Supporter Biggish Dave Posted April 4, 2019 Site Supporter Share Posted April 4, 2019 4 minutes ago, Tonge moor green jacket said: He'll have been buying bottled water for the lads. At least not getting paid stops the bickering about who's on the most. Pray for Donaldson's water Link to comment Share on other sites More sharing options...
Chris Custodiet Posted April 4, 2019 Share Posted April 4, 2019 16 minutes ago, Howardroark said: Essentially yes, them paying the £13.3M that is owed to various factoring companies but currently listed as an intercompany debt. It came from the due diligence and it’s not broken down by anything other than creditor reference. I've led a sheltered life, Howard, and can't say I've had any dealings with factoring companies. But something tells me that they wouldn't lend 13 million quid without a bit of security to rely on. Am I being over cautious? Link to comment Share on other sites More sharing options...
Pricey Posted April 4, 2019 Share Posted April 4, 2019 10 minutes ago, Howardroark said: My buyers, as a secured creditor H, really confused now, so come the 10th April, will your guys be in control of the club? Thrown me off with the ICI administration comment Link to comment Share on other sites More sharing options...
irvtheswerv Posted April 4, 2019 Share Posted April 4, 2019 7 minutes ago, Pricey said: H, really confused now, so come the 10th April, will your guys be in control of the club? Thrown me off with the ICI administration comment They will be in effectively be in control of Inner circle, which used Ken's shares in Burnden leisure as collateral for the loan from Eddie Davies/Moonshift. So they will be in control of the shares in Burnden. If I've understood. Link to comment Share on other sites More sharing options...
Mantra Posted April 4, 2019 Share Posted April 4, 2019 5 minutes ago, Pricey said: H, really confused now, so come the 10th April, will your guys be in control of the club? Thrown me off with the ICI administration comment Yeah I’m also confused about that. Is H’s buyers putting ICI into administration a good thing or not, for Ken and for BWFC/new owners? Sounds more complicated than just recalling the shares. And what was that comment from the other bloke irvtheswerv? Saying Ken only gets his money back by liquidation if Bassini falls through - wouldn’t matter anyway if H’s men take the shares. Ken can only go through with liquidation after 8 May, no? Link to comment Share on other sites More sharing options...
Mantra Posted April 4, 2019 Share Posted April 4, 2019 2 minutes ago, irvtheswerv said: They will be in effectively be in control of Inner circle, which used Ken's shares in Burnden leisure as collateral for the loan from Eddie Davies/Moonshift. So they will be in control of the shares in Burnden. If I've understood. So they transfer those shares to their own company and dissolve ICI? Link to comment Share on other sites More sharing options...
WestStandUpper Posted April 4, 2019 Share Posted April 4, 2019 Think we need an explanation in simple terms @Howardroark of what the full process is (and why) for your team on Tuesday at 4.30pm, please? Link to comment Share on other sites More sharing options...
Howardroark Posted April 4, 2019 Share Posted April 4, 2019 11 minutes ago, Chris Custodiet said: I've led a sheltered life, Howard, and can't say I've had any dealings with factoring companies. But something tells me that they wouldn't lend 13 million quid without a bit of security to rely on. Am I being over cautious? The security is typically that they invoice the payee (other football club/EFL) and receive the funds directly before dispersing the difference to the factorer (ICI). However this invoice was replaced by one from KA...... Link to comment Share on other sites More sharing options...
Boothy Posted April 4, 2019 Share Posted April 4, 2019 When Howard’s consortium don’t come to take control next remember that Bassini and his cronies are going to bribe them with £2 million not to enforce the share recall Link to comment Share on other sites More sharing options...
Mounts Kipper Posted April 4, 2019 Share Posted April 4, 2019 3 minutes ago, Boothy said: When Howard’s consortium don’t come to take control next remember that Bassini and his cronies are going to bribe them with £2 million not to enforce the share recall Can anyone see that happening? Link to comment Share on other sites More sharing options...
Ani Posted April 4, 2019 Share Posted April 4, 2019 1 hour ago, royal white said: Can’t believe the players are saying staff payment was due to them going on strike. Errr think it was more to do with the threat of matchday staff going on strike and no games to be played. They have still not be paid. The mess off the pitch is no way the fault of the players. Given the performance at QPR they deserve some credit. Link to comment Share on other sites More sharing options...
tyldesley_white Posted April 4, 2019 Share Posted April 4, 2019 3 minutes ago, Ani said: They have still not be paid. The mess off the pitch is no way the fault of the players. Given the performance at QPR they deserve some credit. Which (and I know that people may hate this) but it would seem that at this moment in time Parky as not lost the dressing room Link to comment Share on other sites More sharing options...
Mantra Posted April 4, 2019 Share Posted April 4, 2019 8 minutes ago, Mounts Kipper said: Can anyone see that happening? Wouldn’t surprise me. Also wouldn’t surprise me if Ken had another trick up his sleeve to stop the share recall. Which is why it wouldn’t surprise me if H’s men accepted the 2 million because if they don’t, Ken will probably come up with another excuse anyway. I’m sure H first said that Ken was challenging the legitimacy of the recall based on the fact that the owner of the debt had changed. it then changed to the address being wrong/Ken hadn’t seen the letter on the day that it was delivered to BWFC. could be that Ken rekindles the claim that the ownership of the debt changing renders the share recall agreement null and void. Link to comment Share on other sites More sharing options...
WestStandUpper Posted April 4, 2019 Share Posted April 4, 2019 4 hours ago, royal white said: But what would you say if you was offered that business opportunity? He And DH had the chance because of how Eddie ran the club before. No successful business person would have touched us otherwise. And now folk are questioning who Ken should sell us to! You couldn’t make it up. Anyone but ken was the shout remember. How on earth can you keep persistently defending KA, both on here and Twitter...? He stepped in 3 years ago, yes, but we are now in a much worse position both on and off the field and the last 12 months antics and behaviour are unforgivable. You keep defending him though, Clint!! Link to comment Share on other sites More sharing options...
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