Take Over

[Tombwfc]

I've only got two weeks or so at the Howard school of business, but according to the legend we were five minutes from liquidation when Deano/Ken stepped in. Wouldn't that have still given Eddie seven days to settle the bill/sell up before we became extinct?

I still find it hard to believe ED would've seen the club finish, given he continued to chuck millions in until he died despite having no reason to.

Either way, if Ken is getting credit for us existing (regardless of what he may have done since), then so to should Holdsworth.

[Howardroark]

1 minute ago, Tombwfc said:

I've only got two weeks or so at the Howard school of business, but according to the legend we were five minutes from liquidation when Deano/Ken stepped in. Wouldn't that have still given Eddie seven days to settle the bill/sell up before we became extinct?

I still find it hard to believe ED would've seen the club finish, given he continued to chuck millions in until he died despite having no reason to.

Either way, if Ken is getting credit for us existing (regardless of what he may have done since), then so to should Holdsworth.

Correct, 7 days in that situation. It’s rarely as bad as they tell you.

[stevieb]

2 hours ago, leadfrog1 said:

I have a masters degree in Business analytics...with 6 years experience in business. Don't talk down to me. Who are you? 

I'm very important. I have many leather-bound books and my apartment smells of rich mahogany.

[Kane57]

1 minute ago, stevieb said:

I'm very important. I have many leather-bound books and my apartment smells of rich mahogany.

Finally a post I can relate to

[Ros Coe]

5 minutes ago, stevieb said:

I'm very important. I have many leather-bound books and my apartment smells of rich mahogany.

😂😂😂

[JJ10]

Howard, is the deal with mystery buyers still on track and going ahead in your opinion? 

Possibly some movement before pay day with people suggesting Anderson is flying in?

[ZiggyStardust]

20 minutes ago, stevieb said:

I'm very important. I have many leather-bound books and my apartment smells of rich mahogany.

Its a fucking flat FFS

[Howardroark]

11 minutes ago, JJ10 said:

Howard, is the deal with mystery buyers still on track and going ahead in your opinion? 

Possibly some movement before pay day with people suggesting Anderson is flying in?

Yes, 

No

[sleepingindian]

hi howard. marclles was saying today the stakeholder are back in uk. is that a positive thing.

by the way guys im new , just a bwfcfan so please dont kill me

 

Edited March 26, 2019 by sleepingindian

[Jcookie]

24 minutes ago, Howardroark said:

Correct, 7 days in that situation. It’s rarely as bad as they tell you.

Is it a positive that James, Warburton, Davies clan and ken are all back in the country as reported? This is because they might be here to deal with the final dealings of the deal instead of letting someone else deal with it and they may be ready to finally sign off on a deal? Especially ken because it’s normally Aldridge dealing with it day to day..

 

Secondly, the reason for this clan not wanting to be in the public realm like Basran wanted too, is because they don’t want anyone knowing who they are? Rather than  Basran who was all over the media because he was feeding them info for one to prove about this 50/100m investor fund to get him to the table even though he wasn’t ever using this fund and two to put ken under pressure within the media and through social media? But this new bidder dosent want to do this because they have no reason to because they have the cash and confident on completing the deal? Just waiting it out until when ken finally decides he wants to deal before the 2nd when he feels he has the best deal for him before the shares are took of him?

Thanks Howard!

[paulhanley]

1 minute ago, Howardroark said:

Yes, 

No

Howard - are you effectively saying we can all not bother checking the media/social media because nothing is going to happen until April 2?

[Sluffy]

19 minutes ago, Howardroark said:

Correct, 7 days in that situation. It’s rarely as bad as they tell you.

All academic now but if we had have gone into liquidation at that point, based on what you've told us in the last fortnight (if the same requirements applied), wouldn't whoever wanted to rescue us require them to show the EFL that they could show proof of being able to pay all secured creditors off in full and all unsecured at 25% minimum - if so and assuming for argument sake  there was just Eddie as a creditor and he was unsecured - that they would need to show available funds of around £50m (Eddie going on to wipe off £198 million during/since the sale)?

If Holdsworth (who clearly had no money - why else the need for the BM loan secured against club assets?) could only enter at the £1 mark, then surely that would have meant Davies wiping out his total loans to the club and thus leave it wide open to assets stripping?

 

[marcx666]

10 minutes ago, sleepingindian said:

hi howard. marclles was saying today the stakeholder are back in uk. is that a positive thing.

by the way guys im new , just a bwfcfan so please dont kill me

 

Wouldn't worry, I'm actually an Owl, but my lads a Wanderer, and I;ve always had an affinity with you, seeing as I grew up not far away, and used to go to Burden when I was a teenager, so, they will kill me before you 😅

[Dr Faustus]

Howard, what does your apartment smell of?

 

I have many VHS tapes in cases that have a leatherette finish

[Howardroark]

4 minutes ago, Sluffy said:

All academic now but if we had have gone into liquidation at that point, based on what you've told us in the last fortnight (if the same requirements applied), wouldn't whoever wanted to rescue us require them to show the EFL that they could show proof of being able to pay all secured creditors off in full and all unsecured at 25% minimum - if so and assuming for argument sake  there was just Eddie as a creditor and he was unsecured - that they would need to show available funds of around £50m (Eddie going on to wipe off £198 million during/since the sale)?

If Holdsworth (who clearly had no money - why else the need for the BM loan secured against club assets?) could only enter at the £1 mark, then surely that would have meant Davies wiping out his total loans to the club and thus leave it wide open to assets stripping?

 

The EFL rules are for exiting administration, nothing to do with liquidation. 

You are essentially correct though, to satisfy HMRC bill within those 7days they’d have to satisfy all the outstanding creditors so as not to be showing preference, this therefore means that ED would’ve had to write off all the debt as he subsequently did. 

Yes it opened it up to asset strippers, but the reality is that there wasn’t really much to turn in to cash in the typical sense of asset stripping. There were assets that could be loaned against, and that’s what funded the club, in the main. 

ED initially wanted a buyer to show £15m in funds but settled for Deano’s £5M even though that was essentially raised against the club.

[Howardroark]

1 minute ago, Dr Faustus said:

Howard, what does your apartment smell of?

 

I have many VHS tapes in cases that have a leatherette finish

Sativa & old spice 

[Howardroark]

11 minutes ago, paulhanley said:

Howard - are you effectively saying we can all not bother checking the media/social media because nothing is going to happen until April 2?

Yes

[marcx666]

To be fair, I always ignore Nixon as a general rule, although it's easier since he blocked me from his twitter for pointing out he was wrong <.<

[Howardroark]

12 minutes ago, Jcookie said:

Is it a positive that James, Warburton, Davies clan and ken are all back in the country as reported? This is because they might be here to deal with the final dealings of the deal instead of letting someone else deal with it and they may be ready to finally sign off on a deal? Especially ken because it’s normally Aldridge dealing with it day to day..

 

Secondly, the reason for this clan not wanting to be in the public realm like Basran wanted too, is because they don’t want anyone knowing who they are? Rather than  Basran who was all over the media because he was feeding them info for one to prove about this 50/100m investor fund to get him to the table even though he wasn’t ever using this fund and two to put ken under pressure within the media and through social media? But this new bidder dosent want to do this because they have no reason to because they have the cash and confident on completing the deal? Just waiting it out until when ken finally decides he wants to deal before the 2nd when he feels he has the best deal for him before the shares are took of him?

Thanks Howard!

I don’t know who has their travel itineraries or how that came about as a rumour.

Different people work differently, some enjoy the fame of the press, others actively avoid it.

[gonzo]

Jesus Christ what the fuck has happened to this place

[DomRepWanderer]

3 minutes ago, gonzo said:

Jesus Christ what the fuck has happened to this place

Infiltrated by snowflakes.

[ErnestTurnip]

3 hours ago, leadfrog1 said:

I have a masters degree in Business analytics...with 6 years experience in business. Don't talk down to me. Who are you? 

As genius a comment as that was it might have cost me an HD monitor after I spat my cider out laughing. Fucking brilliant.

Edited March 26, 2019 by ErnestTurnip

[wakey]

28 minutes ago, sleepingindian said:

by the way guys im new , just a bwfcfan so please dont kill me

the etiquette for new newbies (after me, I don't count) is you have to either

a) genuinely know summat we don't (and preferably be called Howard) or

b) post some absolute ridiculous load of old bollocks

You're very welcome, and you're welcome.

[Wullie]

19 minutes ago, Howardroark said:

Sativa & old spice 

Hahaha, sounds like my old house in Goa

[wakey]

24 minutes ago, marcx666 said:

I'm actually an Owl

This qualifies under b) above