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Wanderers Ways. Neil Thompson 1961-2021

Take Over


Kane57

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37 minutes ago, kent_white said:

Part of me wants to go out of a sense of morbid curiosity. A bit like when I went to the Brexit Party do.

I'd just be terrified of being caught on Sky Sport's cameras so would need to go incognito.

:)

There'll probably be more Wigan fans turn out to put a scarf round Nat's statue

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56 minutes ago, kent_white said:

Part of me wants to go out of a sense of morbid curiosity. A bit like when I went to the Brexit Party do.

I'd just be terrified of being caught on Sky Sport's cameras so would need to go incognito.

:)

I'd want to see how he goes about it is he just going to be leaning on the statue at half 6 with his hands in his pockets waiting for people to rock up? Will he have minders? Will he have a whiteboard and a PowerPoint presentation? I bet he has free gifts to hand out, definitely 

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6 minutes ago, Marc505 said:

I'd want to see how he goes about it is he just going to be leaning on the statue at half 6 with his hands in his pockets waiting for people to rock up? Will he have minders? Will he have a whiteboard and a PowerPoint presentation? I bet he has free gifts to hand out, definitely 

I'd be interested to see how many times he uses phrases like "you have my word on that"

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1 hour ago, Damocles said:

I don’t know that he could have refused a CVA without there having been a vote on the proposals under the CVA. CVA voting is weighted based on the debt value and requires 75% approval to pass, surely MJ/PBP held 75% of the debt....? 

The hotel will have genuine interest, it may well show as loss making but there is a big consideration for the percentage of ‘shared costs’ it takes.

 

Depends on what 75% of the debt is.

If the Administrator is paying 15p in the £ to unsecured debtors then he most reason that he can pay the secured debtors in full.

We know MJ has first shout at £5.5m so it depends then how much he has reason to believe that KA is secured for as well.

If he believes it to be the  £5m KA replaced the BM loan with, then MJ will certainly not control 75% of the debt.

The Hotels value thus would be worth around £11m in the Administrators opinion.

Is that feasible to believe it could fetch that sort of a value from a sale?

Well if people like Bassini can show him a commitment from David Sullivan to put in £15m for a purchase and Fawaz is also apparently keen to buy, then perhaps the Administrator believes it could do.  At least he would have some sort of documentation on file justifying his actions if a higher authority investigated what had been going on in the process.

Flip the scenario over, if he ruled that the hotel was worth only say £5m then KA would get nothing, neither would unsecured creditors, a would not even be needed as MJ would just crystallise his debt and take the hotel.  No doubt KA would have commenced court action against his decision and have people prepared to stand up on his behalf to say they had shown proof to the Administrator that they were prepared to put in at least double he let the hotel go for.

I think we all probably know what the score is but how can you prove it, the only way I guess he could would be by putting the hotel up for sale and seeing what actual bids would have been received.

I'm suggesting that action meant there was no more time left for FV to wait, they either had to walk or do a deal with KA in order to clear the decks for a CVA.

That's my reasoning anyway.

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2 hours ago, kent_white said:

Part of me wants to go out of a sense of morbid curiosity. A bit like when I went to the Brexit Party do.

I'd just be terrified of being caught on Sky Sport's cameras so would need to go incognito.

:)

 

Why don't you go in your superman outfit - nobody would recognise you

 

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13 minutes ago, Breightmet Boy said:

He keeps rearing is mush at awkward, sensitive times, he's like a photobomber.   

Yes I wish we could complete with FV and then he no longer comes out of the woodwork.

However, the fact remains, the way things are going, he may end up being our only other option to liquidation.

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5 minutes ago, Farrelli said:

Yes I wish we could complete with FV and then he no longer comes out of the woodwork.

However, the fact remains, the way things are going, he may end up being our only other option to liquidation.

I'm unconvinced that fact remains to be honest. If he were an option he'd have shown proof of funds. Which according to the administrators he has not - and they are instructing solicitors to deal with his communication. 

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6 minutes ago, bwfcfan5 said:

I'm unconvinced that fact remains to be honest. If he were an option he'd have shown proof of funds. Which according to the administrators he has not - and they are instructing solicitors to deal with his communication. 

I'm sure their next communication will denounce him as a time waster, which he probably is.

However, are the administrators giving us all the facts regarding the bidding process and proof of funds ? 

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Bassini in Spoons Westhoughton. 4 minders 1 with a Forest Green lapel badge , guy next to him has a WHU tattoo on his neck. Bassini has a small  suitcase handcuffed to his wrist . Got £25 million written in green crayon on the side.

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1 hour ago, Breightmet Boy said:

It would be nice if nobody turned up to see Bassini, just the Sky News cameras. 

There's the problem. The march of shame attracted about 1500 because the cameras were there, but the Forest Green trip & later marches/protests without the presence of cameras to play up to didn't have enough to fill a phone box.

Simply because the cameras will be there means that some crackpots will turn up.

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