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Kane57
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Just now, Howardroark said:

This is just about KA forcing Moonshift’s hand. 

Them forcing admin means the £5M ends up in his pocket because they’d have to recall his shares. 

KA can’t have liquidation though because he would almost certainly become personally liable for vast amounts of the unsecured debt, so my guess would be that if there’s truly no buyers in play with Moonshift then KA will propose admin to the court on Weds.

But why then won’t we be liquidated 

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From the sounds of it, all of the options - other than the court being nice and giving us more time - are fucked.

Ken won’t want to pay for admin and even if he does apparently Bassini could legally challenge him.

ED Trustees don’t want to be responsible again.

Not enough time for a new buyer to show up and do DD.

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1 minute ago, Mantra said:

From the sounds of it, all of the options - other than the court being nice and giving us more time - are fucked.

Ken won’t want to pay for admin and even if he does apparently Bassini could legally challenge him.

ED Trustees don’t want to be responsible again.

Not enough time for a new buyer to show up and do DD.

Forget Bassini

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29 minutes ago, Howardroark said:

Some would argue that the debt accrued in that time provided fans with a decade of enjoyment beyond their wildest dreams, that this was a gift from one man cannot be overlooked.

No arguments with the ten years in the sun when it was great 

However we spent three years languishing in the championship squandering our parachute monies when we should have been attempting to live within our means 

Ben Amos signing on for £1m a year over 3 or 4 years just before the music stops one of many catastrophic decisions. He didn’t have to keep putting money in, however when he decided enough was enough he should have prepared the club for that day much better than he did  

of course, his overall contribution has been massive but he’s had a hand in our death as things stand. Saying that, when he first came in we were at deaths door 

 

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6 minutes ago, Howardroark said:

Forget Bassini

Alright then, so revised options are:

- ED Trust blinks first and forces admin.

- Gets to Wednesday ED Trust still holding fire. Ken puts us into admin.

- Get liquidated on Wednesday if Ken doesn’t ask for admin.

- Ask for more time and get another adjournment. Essentially restarting the blinking contest and perhaps allowing more potential buyers to surface.

 

First two options seem most likely to me but who knows where the fuck this goes next.

 

edit: I know you’re saying there’s no chance of liquidation, Ken being liable for unsecured debt and such, but whilst we’re under a winding up order, it’s still a possibility for me.

Edited by Mantra
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1 minute ago, Mantra said:

From the sounds of it, all of the options - other than the court being nice and giving us more time - are fucked.

Ken won’t want to pay for admin and even if he does apparently Bassini could legally challenge him.

ED Trustees don’t want to be responsible again.

Not enough time for a new buyer to show up and do DD.

Forget Bassini

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10 minutes ago, RONNIE PHILLIPS said:

We were led to believe your lot were funding him iirc? 

 

Was this after they bought the shares off the Davies family six weeks ago?

 

Quote

Them forcing admin means the £5M ends up in his pocket because they’d have to recall his shares

 

Isn't that money in BluMarble's pocket?

Edited by Tombwfc
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4 minutes ago, onlyoneawalker said:

Ed Davies and his family owe BWFC nothing and it’s an absolute piss take to say they do.

BWFC is a business and it’s bust it needs putting in admin by its current directors this absolute fucking farce needs drawing to a close.

 

Exactly

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7 minutes ago, Tombwfc said:

 

Was this after they bought the shares off the Davies family six weeks ago?

 

 

Isn't that money in BluMarble's pocket?

BWFC per KA £5M, if Moonshift recall his shares then he doesn’t have to pay it back to them.

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1 minute ago, barrycowdrill said:

ED loved the club. The rest of his estate don’t appear to give 2 shits. That’s entirely their prerogative.

if we’re being told to forget Bassini I’d also forget the ED party too 

The trustees have to work on behalf of the beneficiaries

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17 minutes ago, waffer cup 07 said:

So then H please spell out the options left, if there are any other than administration.

There aren’t any other than admin, but that still requires there to be a buyer with £23M cash plus £14M to satisfy EFL

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1 minute ago, RedBloodzCell said:

Then who would fund it? KA?

If the director or moonshift puts it on admin it’s in admin the court can’t prevent or trigger it I think?

of the clubs not on admin the court has the option to liquidate again I think

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2 minutes ago, boltondiver said:

The trustees have to work on behalf of the beneficiaries

They may have to act in a professional / obligatory capacity 

but anyone thinking they get as misty eyed and panicked about the situation the same as Eddie did would be foolish. 

Them stepping in to save the day above and beyond their remit in my opinion is very remote 

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1 minute ago, Howardroark said:

The funds are there to fund short term admin

But there’s no one to our knowledge that has the finances to enable a short term admin. So it’s either some mystery person has the money/FV find more money and we get short term admin. Or we ask for an adjournment. 

Or someone funds a longer term admin. 

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3 minutes ago, Mantra said:

But there’s no one to our knowledge that has the finances to enable a short term admin. So it’s either some mystery person has the money/FV find more money and we get short term admin. Or we ask for an adjournment. 

Or someone funds a longer term admin. 

Longer term admin is unlikely, administrators would simply wind down the business if an outright sale cannot be achieved. 

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5 minutes ago, Howardroark said:

Longer term admin is unlikely, administrators would simply wind down the business if an outright sale cannot be achieved. 

What’s your view on what will happen then 

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