Another day ruined continually checking my phone.

wways

twitter

whats app

and again ...

then again just to be sure. 

 

https://lionofviennasuite.sbnation.com/2019/3/20/18273480/wanderers-biggest-battle-awaits?utm_campaign=lionofviennasuite.sbnation&utm_content=chorus&utm_medium=social&utm_source=twitter

Group hug? 

31 minutes ago, Mr Grey said:

Iles has tweeted, he's on court duty today for the BN. 

He said

We have a man in court

It'll be Smurf, the massive twat

18 minutes ago, desperado said:

https://lionofviennasuite.sbnation.com/2019/3/20/18273480/wanderers-biggest-battle-awaits?utm_campaign=lionofviennasuite.sbnation&utm_content=chorus&utm_medium=social&utm_source=twitter

Howard might want to read Smurfs scenario 4

 

32 minutes ago, desperado said:

They’re friends, they studied together.

Where at? Pindi was at Leeds with some of my (and Gumbo’s) oldest mates and never heard MJ mentioned. Not to say it isn’t true 

37 minutes ago, Mr Grey said:

Iles has tweeted, he's on court duty today for the BN. 

He will have Ken in Bolton’s most wanted. 

I’m honestly not all that worrried.

seems to be there are several options still available that stop us being terminated. Even the soulless cunts at HMRC Must realise that ten thousand loyal customers to a business make it worth saving.

the EFL, despite their apparent disinterest, will likely to have some involvement.

We’re not sat in Dignitas just yet.

Just can’t see option 4 

If I were a betting man, and a I am. I would lay option 4 like good un.

Problem is, I'm shit at gambling ..

25 minutes ago, Casino said:

He said

We have a man in court

It'll be Smurf, the massive twat

It is Smurf and that Will Jones, the spotty prick who organised the protest.

27 minutes ago, Casino said:

Howard might want to read Smurfs scenario 4

 

That’s a false statement, there are 5 working days to appeal for recission in respect of non-attendance or on account of paying the debt/funds being available to pay the debt.

Edited March 20, 20197 yr by Howardroark
S

Recission

new word for me

Who’s representing us?

7 minutes ago, Traf said:

It is Smurf and that Will Jones, the spotty prick who organised the protest.

Are they in the employ of BN now?

6 minutes ago, Howardroark said:

That’s a false statement, there are 5 working days to appeal for recission in respect of non-attendance or on account of paying the debt/funds being available to pay the debt.

Howard, unless I misunderstood you’re previous posts, you were pretty firm in saying administration wasn’t a possible outcome due to the cost vs penalty. Is that the case or is it just highly unlikely?

Multiple media outlets are still presenting it as a likely administration scenario and indeed this effort from LoV gives it as a potential outcome.

How come Carol Vorderman's tits are now massive? 

23 minutes ago, Boothy said:

Howard, unless I misunderstood you’re previous posts, you were pretty firm in saying administration wasn’t a possible outcome due to the cost vs penalty. Is that the case or is it just highly unlikely?

Multiple media outlets are still presenting it as a likely administration scenario and indeed this effort from LoV gives it as a potential outcome.

Administration has to be funded by somebody, this is either the directors of the business (ha ha) or the petitioning creditor (HMRC). By ‘funding’ I mean that somebody has to meet the on-going obligations of the business whilst the administrators attempt to recover/sell the business, this is wages etc.

The only way HMRC would fund administration is if they were absolutely adamant that the club was going to be sold to a new owner within a short time frame and that they would be repaid in full, that means a new buyer agrees to clear all debts (£28.9M). Even then they are being asked to commit x amount of funds simply to recover less, it doesn’t make sense for them to do it and they won’t want to be left on the hook for a big admin bill if no buyer emerges.

The only other option is for Brett/PBP to put the club in to administration to recover their loan, that would again mean funding administration and would only be conditional on them having followed procedure in respect of the default which, to my knowledge, had not been followed. They also have no necessity to do such a thing as their loans are secured against assets of a higher value. This would result in HMRC receiving less than the amount owed and I would expect them to appeal against it. That being said, I think this would be the most likely route if PBP/Brett can be persuaded, say by a consortium looking to buy the club from administration....

In the previous case, Blu Marble were willing to fund administration because the upside of doing so (return of their full loan via sale) was greater than the cost. 

Without a buyer in place and willing to pay off all the debt (which after administration is announced is highly unlikely) HMRC have no rationale for funding it. 

 

Edited March 20, 20197 yr by Howardroark
A

Could it be possible that the statement from the club saying we are "in discussions with other interested parties" is just a bluff to try and buy us some more time?

Edited March 20, 20197 yr by Burndens Bogs

Before anybody more clued up than me replies

The court will need to see evidence of such

Evidence isn't kens notes

8 hours ago, Howardroark said:

In liquidation, yes, and possibly more than just money. He will almost certainly be asked to return any funds he has taken from the club over the past couple of years. Asset sale should clear 75% of his Moonshift debt.

In administration; will probably break even/owe Moonshift a couple of million that they’ll never see, although there’s literally nobody (other than HMRC) to fund administration.

 

Does ' almost certainly be asked' imply any duress e.g. taken into account when considering whether there has been wrongful trading? Isn't there a six-month rule in there somewhere?

Do you also  think that by calling a shareholders' AGM last year, KA may have demonstrated a willingness 'to go the extra mile' by providing minority shareholders with  an opportunity to question the ongoing strategy. That is to carry on trading whilst efforts continued to find more 'investment'.

 

7 minutes ago, Casino said:

Before anybody more clued up than me replies

The court will need to see evidence of such

Evidence isn't kens notes

Aye. Its something signed. And my understanding was last time they used the fact due diligence was under way to stall....

9 hours ago, Howardroark said:

In liquidation, yes, and possibly more than just money. He will almost certainly be asked to return any funds he has taken from the club over the past couple of years.

 

Why would he have to repay it?
If it has been given to him legitimately through the business, surely there's no recall?

1 hour ago, gonzo said:

Another day ruined continually checking my phone.

wways

twitter

whats app

and again ...

then again just to be sure. 

 

It's paralysing isn't it.

Just now, Marc505 said:

It's paralysing isn't it.

I’m thinking it’s a bit of a non event today and will be just an adjournment.