who the fucks Fatwas?

late to the party today 

5 minutes ago, Boby Brno said:

The £2.9 million was the amount when the administrators took control. The £1.2 million is the current amount according to the list of creditors. Why I don’t know. For the record, in the other unpublished report it gives the figure as uncertain.

Think you might be getting things slightly confused?

The £1.2m is shown as a creditor to the hotel - so obviously the hotel owes them that money but the £2.9m Chris is talking about is shown as a 'Book Value' debtor to the hotel - someone the owes it money.

As debtors and creditor amounts are frozen at the time of Administration and Administration was done at the same time for the club and the hotel I think the position is as the hotel Administrator sees it that the club owes the hotel £2.9m, whilst at the same time owing the club £1.2m.

Up to the two separate Administrators to come to some agreement amongst themselves as to what the actual amounts are.

 

1 minute ago, Boby Brno said:

The £2.9 million was the amount when the administrators took control. The £1.2 million is the current amount according to the list of creditors. Why I don’t know. For the record, in the other unpublished report it gives the figure as uncertain.

Sorry Boby, but are you not mixing up debits with credits?The £2.9m was shown as a hotel debtor not a creditor. If that's what happened, shouldn't a £4.1m swing in the space of a few weeks have had some explanation?

And should there not also be an explanation of the  £10m owed to the ED Trust and the £1.75m owed to Ken Anderson in Rubin's report.

You have it. What does it say about the secured loans to enable creditors to understand it all?

It's about time the admins gave FV a definitive deadline of say this weekend to complete or they get on board with other interested parties, the way things stand, players are in the dark, the manager is in the dark, the fans are in the dark, if FV had any real interest they would have at least spoken to the players to ask for their patience, but apparently they haven't so to me that tells us they aren't interested in the Football club.

3 hours ago, Sweep said:

I'm surprised it's taken this long to be honest

Parkinson spoke openly how he felt magennis didn’t work hard enough on GMR and oz never got a look it. I hope they have to give themselves and their families a chance 

1 minute ago, DomRepWanderer said:

It's about time the admins gave FV a definitive deadline of say this weekend to complete or they get on board with other interested parties, the way things stand, players are in the dark, the manager is in the dark, the fans are in the dark, if FV had any real interest they would have at least spoken to the players to ask for their patience, but apparently they haven't so to me that tells us they aren't interested in the Football club.

This shows a complete misunderstanding of the process. Give them a deadline - hotel admins can't meet. Open up to another party who also needs hotel - Mike James is top secured creditor and wants full payment...

FV aren't in full control. Neither are Rubin and partners nor Quantuma. 

Its shit but putting deadlines in place helps nobody here. 

 

 

3 minutes ago, Chris Custodiet said:

Sorry Boby, but are you not mixing up debits with credits?The £2.9m was shown as a hotel debtor not a creditor. If that's what happened, shouldn't a £4.1m swing in the space of a few weeks have had some explanation?

And should there not also be an explanation of the  £10m owed to the ED Trust and the £1.75m owed to Ken Anderson in Rubin's report.

You have it. What does it say about the secured loans to enable creditors to understand it all?

Yep. Trying to get some work done whilst skimming the report.👍

8 minutes ago, bwfcfan5 said:

This shows a complete misunderstanding of the process. Give them a deadline - hotel admins can't meet. Open up to another party who also needs hotel - Mike James is top secured creditor and wants full payment...

FV aren't in full control. Neither are Rubin and partners nor Quantuma. 

Its shit but putting deadlines in place helps nobody here. 

 

 

So by giving them a all the time in the world we end up with no players at all, we won't start the season, kicked out of the football league, and all the history this club has ever created will be totally wiped out, simply because FV can't or wont meet the admins demands?

32 minutes ago, Tommy Banks said:

 

 

 

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1m

 

Bolton. Players officially fuming. Mass walk out next step. More online shortly.

Bullshit.

Just now, Marc505 said:

Bullshit.

My thoughts exactly.

He’s just playing to his crowd now.

It seems the hotel sales prospectus is out.  Also seems if true what Nixon says that the hotel Administrator is accepting around 27.5p in the £ on the clubs £2.9m to the hotel.

 

7 minutes ago, DomRepWanderer said:

So by giving them a all the time in the world we end up with no players at all, we won't start the season, kicked out of the football league, and all the history this club has ever created will be totally wiped out, simply because FV can't or wont meet the admins demands?

I'd suggest the season is the deadline everyone knows about. Also this has nothing to with with FV meeting admins demands. 

This is the requirement for EFL to sign off on the deal - and the business plan the EFL have approved requires FV to own the hotel. 

So until that happens FV can sign the SPA - but the league will not grant them control without the hotel - since their business plan seemingly requires it. 

11 minutes ago, Sluffy said:

It seems the hotel sales prospectus is out.  Also seems if true what Nixon says that the hotel Administrator is accepting around 27.5p in the £ on the clubs £2.9m to the hotel.

 

Can't really blame Nicko. BWFC is just one of the clubs he has to follow but the club's owed money to the hotel ever since PBP put in £5.5m over three years ago, most of it being moved upstairs to prop up BWFC. Previous to that it was t'other way round and it was ED that was propping up both. Not that anyone at the Beeno noticed and they only had one club to follow.

Edited July 19, 20197 yr by Chris Custodiet

Just me or are things starting to look very bleak... struggling to see how we play week 1 and remain in the league. Not to be a negative nelly. 

 

1 minute ago, radcliffewhite1 said:

 

Sorry to be picky, but who wrote that and how close are they to the players in question?

3 minutes ago, Spider said:

Sorry to be picky, but who wrote that and how close are they to the players in question?

Not got a scooby mate 

this site are usually in the know, they have jumped the gun with a few things in the past 

the ginger nobhead told me a few hours ago

he will be right

3 minutes ago, radcliffewhite1 said:

Not got a scooby mate 

this site are usually in the know, they have jumped the gun with a few things in the past 

Fair enough 👌

I'm more inclined to take your news over 99% of Twitter.

My wide eyed optimism is waning

 

1 hour ago, Tommy Banks said:

It’s not just the debt on its own that’s the problem, it’s the way it’s structured and intertwined. Bet it’s been a real pain to get to the bottom line

I bet its been a real pain for BWFC's Finance Office staff but I'd be surprised if they didn't have an up-to-date list of creditors maintained on a day by day basis and they won't have been paid £100-500 per hour.

If some players have already walked for not being paid, are the administrators in a position to say no to these others.

Assuming that FV or liquidation are the only options as I think Sluffy said a few pages back, what is the longest this can go on? Not trying to feed more speculation but is there any financial date everything would need to be sorted by before the first game of the season?

Assuming to start the season the players need paid, season tickets need doing, kits etc...

There must be some “deadline” very soon as to when the deal must be done.

Maybe FV have new kit suppliers, season tickets, player wages ready to pay out as soon as they get control but I mean, it’s not like that could be done on August 2, right?

I would imagine it would be the week of 29 July at the very latest, otherwise we won’t be ready to start the season, surely?

Don’t see how they can refuse if they’re not being paid 

3 minutes ago, Tommy Banks said:

Don’t see how they can refuse if they’re not being paid 

I think they still have to abide by the rules and give 2 week notice

2 minutes ago, Mantra said:

Assuming that FV or liquidation are the only options as I think Sluffy said a few pages back, what is the longest this can go on? Not trying to feed more speculation but is there any financial date everything would need to be sorted by before the first game of the season?

Assuming to start the season the players need paid, season tickets need doing, kits etc...

There must be some “deadline” very soon as to when the deal must be done.

Maybe FV have new kit suppliers, season tickets, player wages ready to pay out as soon as they get control but I mean, it’s not like that could be done on August 2, right?

I would imagine it would be the week of 29 July at the very latest, otherwise we won’t be ready to start the season, surely?

It can go on for as long as the league allow us to be members. Whenever they start asking "ermm who are your registered players and can you assure us of your membership for the full forthcoming season" is the point at which the thing collapses. Because then you're not buying a football club but a ground and everything else and in effect that is when the admins will liquidate.

When that is - who knows - but my guess is sometime next week the question will be asked. The league will need some time to avoid the embarrassment.