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Wanderers Ways. Neil Thompson 1961-2021

Take Over


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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?

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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? 

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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. 

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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 by Benny The Ball
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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.

 

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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

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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 

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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 

 

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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

 

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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.

 

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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 ? 

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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...

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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. 

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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. 

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3 minutes 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. 

Good afternoon Howard

Firstly his email address is in the public domain - i am just saving people the hastle of finding it here https://www.legal500.com/firms/3121/offices/444/lawyers/52213

Secondly the clock it ticking towards midnight and we might not have a football club to support if we all sit idly by and do nothing 

Thirdly there may indeed be no financial reasoning for them to force administration but given the fact that Eddie Davies was their client I would say morally at least they ought to .. 

Edited by Benny The Ball
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2 minutes ago, RONNIE PHILLIPS said:

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. 

With respect, this family has written off £70M- £150M of debt, it isn’t they who have been bending you over.

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1 minute ago, Howardroark said:

With respect, this family has written off £70M- £150M of debt, it isn’t they who have been bending you over.

Point taken H but whilst appreciating what ED did for our club desperate times call for desperate measures. 

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2 minutes ago, Benny The Ball said:

Good afternoon Howard

Firstly his email address is in the public domain - i am just saving people the hastle of finding it here https://www.legal500.com/firms/3121/offices/444/lawyers/52213

Secondly the clock it ticking towards midnight and we might not have a football club to support if we all sit idly by and do nothing 

Thirdly there may indeed be no financial reasoning for them to force administration but given the fact that Eddie Davies was their client I would say morally at least they ought to .. 

That’s like suggesting the Kardashian’s should be paying the bills of OJ Simpson’s ex wife..... 

The waiving of £70M-£150M ended any moral or legal obligation that the Davies family have to the club, they have done enough and they shouldn’t be made to feel that they haven’t if they choose not to act in a certain manner. This isn’t their mess.

 

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1 minute ago, RONNIE PHILLIPS said:

Point taken H but whilst appreciating what ED did for our club desperate times call for desperate measures. 

Then people should be supporting the ST share option, put your money where your mouths are.

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