Mounts Kipper Posted May 6, 2019 Share Posted May 6, 2019 3 minutes ago, Casino said: Anyway As I see it, there are three scenarios that aren't catastrophic Administration tomorrow Administration in court on Wednesday Some crackpot with more money than sense If it's admin tomorrow, what does that do to the court hearing If there's no admin tomorrow, we go to court fingers crossed we don't get liquidated? And if we do get liquidated, somebody has a week to buy the whole sorry mess and pay all the creditors? I think it’s liquidation and someone buys us, 10 p in pound if the unsecured creditors are lucky and football creditors paid off. Could go to the wire I expect a deal on the 11th hour of the 7th day after liquidation. Link to comment Share on other sites More sharing options...
radcliffe white Posted May 6, 2019 Share Posted May 6, 2019 Things will be clearer soon and we can draw a line under all this Link to comment Share on other sites More sharing options...
Moderators Casino Posted May 6, 2019 Moderators Share Posted May 6, 2019 (edited) 1 minute ago, radcliffewhite1 said: Things will be clearer soon That's about the only thing that is clear Edited May 6, 2019 by Casino Link to comment Share on other sites More sharing options...
sleepingindian Posted May 6, 2019 Share Posted May 6, 2019 knowing our luck bassini will go and ask for another month and get us liquidated for asking Link to comment Share on other sites More sharing options...
radcliffe white Posted May 6, 2019 Share Posted May 6, 2019 11 minutes ago, Casino said: That's about the only thing that is clear I genuinely think we be ok regarding liquidation Link to comment Share on other sites More sharing options...
Escobarp Posted May 6, 2019 Share Posted May 6, 2019 21 minutes ago, Mounts Kipper said: That’s his level and my first thought, except they’d not pay him anywhere near what we do, must be on 8-10k a week. Pinched a living. Salford pay Adam Rooney 5k a week in the conference as just one example . Suspect if they wanted they could stretch to 8k if promoted. Link to comment Share on other sites More sharing options...
Mounts Kipper Posted May 6, 2019 Share Posted May 6, 2019 7 minutes ago, Escobarp said: Salford pay Adam Rooney 5k a week in the conference as just one example . Suspect if they wanted they could stretch to 8k if promoted. Aye but there not daft enough to pay that money for vela. Link to comment Share on other sites More sharing options...
Escobarp Posted May 6, 2019 Share Posted May 6, 2019 Just now, Mounts Kipper said: Aye but there not daft enough to pay that money for vela. We were Link to comment Share on other sites More sharing options...
Moderators Casino Posted May 6, 2019 Moderators Share Posted May 6, 2019 11 minutes ago, Escobarp said: Salford pay Adam Rooney 5k a week in the conference as just one example . Suspect if they wanted they could stretch to 8k if promoted. I wonder how EFL FFP rules might affect them I dunno, but is it possible to buy a team into the league and then new rules kick in restricting losses? Link to comment Share on other sites More sharing options...
Mounts Kipper Posted May 6, 2019 Share Posted May 6, 2019 1 minute ago, Casino said: I wonder how EFL FFP rules might affect them I dunno, but is it possible to buy a team into the league and then new rules kick in restricting losses? Wonder who the Bolton fans who’ve been going to Salford city will support when we finally play them? Link to comment Share on other sites More sharing options...
enzo gambaro Posted May 6, 2019 Share Posted May 6, 2019 8 minutes ago, Mounts Kipper said: Wonder who the Bolton fans who’ve been going to Salford city will support when we finally play them? I went yesterday, though I wasn’t supporting Salford. If they really are paying the kind of wages that are being bandied about then they’re fucking lunatics, because they’d be well out of their depth in League One. Link to comment Share on other sites More sharing options...
Guest Posted May 6, 2019 Share Posted May 6, 2019 15 minutes ago, Mounts Kipper said: Wonder who the Bolton fans who’ve been going to Salford city will support when we finally play them? Surely Bolton fans can't support them? Jesus Link to comment Share on other sites More sharing options...
Benny The Ball Posted May 6, 2019 Share Posted May 6, 2019 (edited) 50 minutes ago, Casino said: Anyway As I see it, there are three scenarios that aren't catastrophic Administration tomorrow Administration in court on Wednesday Some crackpot with more money than sense If it's admin tomorrow, what does that do to the court hearing If there's no admin tomorrow, we go to court fingers crossed we don't get liquidated? And if we do get liquidated, somebody has a week to buy the whole sorry mess and pay all the creditors? There is a fourth scenario which I would rather not contemplate and that is that somehow Bassini gets EFL approval and he and Anderson manage to cobble together a last minute deal , I assume he is not your crackpot scenario To my mind its too late for a new bidder to come to the table and complete a deal in the available time frame and I dont think there is anyone out there who could / would do it The most likely scenario in my opinion is that ED Trustees will put us into administration tomorrow , that way they appoint the administrator. If that happens then either wednesday's hearing will get postponed or more likely the administrators legal representative will advise the court on wednesday that the business has gone into administration and that will put proceedings on hold If ED Trustees do appoint the administrators then it is widely rumoured to be these people David Rubin and Partners https://www.drpartners.com/ who coincidentally are handling affairs at Blackpool FC Edited May 6, 2019 by Benny The Ball Link to comment Share on other sites More sharing options...
Site Supporter Spider Posted May 6, 2019 Site Supporter Share Posted May 6, 2019 No one seems to know who will pay us through admin though? That scenario still needs someone with a bit of a screw loose to fund it. I think the EFL will give it Bassini just to kick the can down the road for a while. Link to comment Share on other sites More sharing options...
Moderators Casino Posted May 6, 2019 Moderators Share Posted May 6, 2019 28 minutes ago, Benny The Ball said: There is a fourth scenario which I would rather not contemplate and that is that somehow Bassini gets EFL approval and he and Anderson manage to cobble together a last minute deal , I assume he is not your crackpot scenario To my mind its too late for a new bidder to come to the table and complete a deal in the available time frame and I dont think there is anyone out there who could / would do it The most likely scenario in my opinion is that ED Trustees will put us into administration tomorrow , that way they appoint the administrator. If that happens then either wednesday's hearing will get postponed or more likely the administrators legal representative will advise the court on wednesday that the business has gone into administration and that will put proceedings on hold If ED Trustees do appoint the administrators then it is widely rumoured to be these people David Rubin and Partners https://www.drpartners.com/ who coincidentally are handling affairs at Blackpool FC Cheers I think I have my answer Admin tomorrow keeps creditors at bay? Even HMRC Link to comment Share on other sites More sharing options...
tomski Posted May 6, 2019 Share Posted May 6, 2019 50 minutes ago, Mounts Kipper said: Wonder who the Bolton fans who’ve been going to Salford city will support when we finally play them? Embarrassing isn’t it. Can’t see how you can do it Link to comment Share on other sites More sharing options...
Benny The Ball Posted May 6, 2019 Share Posted May 6, 2019 34 minutes ago, Spider said: No one seems to know who will pay us through admin though? That scenario still needs someone with a bit of a screw loose to fund it. I think the EFL will give it Bassini just to kick the can down the road for a while. The Costs of the administration are not paid for by a specific individual They will be ultimately paid for by the unsecured creditors who will take the hit , have a read of something like this , https://www.companydebt.com/company-rescue-solutions/company-administration/administrator-remunerated-administration/ I am assuming that there are potential buyers out there that will purchase the club out of administration and the time frame in which we are in administration wont be that long Link to comment Share on other sites More sharing options...
sleepingindian Posted May 6, 2019 Share Posted May 6, 2019 4 minutes ago, Benny The Ball said: The Costs of the administration are not paid for by a specific individual They will be ultimately paid for by the unsecured creditors who will take the hit , have a read of something like this , https://www.companydebt.com/company-rescue-solutions/company-administration/administrator-remunerated-administration/ I am assuming that there are potential buyers out there that will purchase the club out of administration and the time frame in which we are in administration wont be that long think st have 3 weeks to try. hope if there is a buyer they will pass the opportunity on to them and get done early Link to comment Share on other sites More sharing options...
Site Supporter Spider Posted May 6, 2019 Site Supporter Share Posted May 6, 2019 16 minutes ago, Benny The Ball said: The Costs of the administration are not paid for by a specific individual They will be ultimately paid for by the unsecured creditors who will take the hit , have a read of something like this , https://www.companydebt.com/company-rescue-solutions/company-administration/administrator-remunerated-administration/ I am assuming that there are potential buyers out there that will purchase the club out of administration and the time frame in which we are in administration wont be that long Cheers Benny gives a bit of hope, that. I’d put liquidation out of the picture based on that. Bumpy road, like. Link to comment Share on other sites More sharing options...
Popular Post Benny The Ball Posted May 6, 2019 Popular Post Share Posted May 6, 2019 18 minutes ago, Spider said: Cheers Benny gives a bit of hope, that. I’d put liquidation out of the picture based on that. Bumpy road, like. Yes - Providing Keir Gordon does his stuff tomorrow and puts us into Administration He works as Eddie Davies Trustee and he now really does determine our future https://www.charlesrussellspeechlys.com/en/people/k/keir-gordon-/ I would urge everyone on here ( and pass this on to Wanderers fans elsewhere ) to get an email to him - reminding him of the responsibility and the hopes and the aspirations of all Wanderers fans that he holds in his hands . He is the one person that by putting us into administration can effectively guarantee our survival - keir.gordon@crsblaw.com What he does tomorrow off the pitch is more important than anything that any player in our history has ever done on it Link to comment Share on other sites More sharing options...
Ruba Mustafa Posted May 6, 2019 Share Posted May 6, 2019 Go into admin then MJ and his bankrupt land grabbing cronies can put reastaurants/retail units/ houses on our land. the thing is, this may well be our best option Link to comment Share on other sites More sharing options...
hughmungus Posted May 6, 2019 Share Posted May 6, 2019 1 minute ago, Ruba Mustafa said: Go into admin then MJ and his bankrupt land grabbing cronies can put reastaurants/retail units/ houses on our land. the thing is, this may well be our best option Our land ? Link to comment Share on other sites More sharing options...
Take Hunt Off Posted May 6, 2019 Share Posted May 6, 2019 26 minutes ago, Benny The Ball said: Yes - Providing Keir Gordon does his stuff tomorrow and puts us into Administration He works as Eddie Davies Trustee and he now really does determine our future https://www.charlesrussellspeechlys.com/en/people/k/keir-gordon-/ I would urge everyone on here ( and pass this on to Wanderers fans elsewhere ) to get an email to him - reminding him of the responsibility and the hopes and the aspirations of all Wanderers fans that he holds in his hands . He is the one person that by putting us into administration can effectively guarantee our survival - keir.gordon@crsblaw.com What he does tomorrow off the pitch is more important than anything that any player in our history has ever done on it Done... Link to comment Share on other sites More sharing options...
Howardroark Posted May 6, 2019 Share Posted May 6, 2019 20 minutes ago, Benny The Ball said: Yes - Providing Keir Gordon does his stuff tomorrow and puts us into Administration He works as Eddie Davies Trustee and he now really does determine our future https://www.charlesrussellspeechlys.com/en/people/k/keir-gordon-/ I would urge everyone on here ( and pass this on to Wanderers fans elsewhere ) to get an email to him - reminding him of the responsibility and the hopes and the aspirations of all Wanderers fans that he holds in his hands . He is the one person that by putting us into administration can effectively guarantee our survival - keir.gordon@crsblaw.com What he does tomorrow off the pitch is more important than anything that any player in our history has ever done on it I don’t think it’s fair for you to publish Mr Gordon’s email address, he has only one obligation, and that is to his client. That being said, the issue for ED Trustee’s (Moonshift) is that by putting the club in to administration they expose themselves to significant risk of being personally responsible for some of the debt. Fraudulent trading (essentially taking funds/services with no clear intent to repay) removes the protection of LTD company status. Given that a significant portion of their outstanding balance is owed by KA (ICI) and not BWFC, there is no financial reasoning for them to force administration. Link to comment Share on other sites More sharing options...
Site Supporter RONNIE PHILLIPS Posted May 6, 2019 Site Supporter Share Posted May 6, 2019 1 minute ago, Howardroark said: I don’t think it’s fair for you to publish Mr Gordon’s email address, he has only one obligation, and that is to his client. That being said, the issue for ED Trustee’s (Moonshift) is that by putting the club in to administration they expose themselves to significant risk of being personally responsible for some of the debt. Fraudulent trading (essentially taking funds/services with no clear intent to repay) removes the protection of LTD company status. Given that a significant portion of their outstanding balance is owed by KA (ICI) and not BWFC, there is no financial reasoning for them to force administration. Fair doesn't come into this, Bolton fans are the ones who have been dry bummed here... The only ones who will be there come what may. Link to comment Share on other sites More sharing options...
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