It's happening. 

https://www.theboltonnews.co.uk/sport/17405193.bolton-wanderers-close-to-takeover-from-uk-based-consortium/

Thank fuck

13 minutes ago, Benny The Ball said:

Here we are 49 hours from kick off of our first home game of the season , 23 hours since we last got the briefest of updates to advise us that an update would be made this morning , which itself is  now overdue,  and , whilst all eyes are on the immediate question as to whether saturday's match against Coventry City will go ahead , I do think we have got to consider the bigger picture 

The lack of any statement or update from the clubs administrator so far today is starting to suggest that neither he or Football Ventures are actually in control of events , and I just  wonder could it be that they have been told by the hotel administrator that their attempts  to acquire the hotel have  been rejected ,or that they have been outbid , thereby jeopardising their attempt to acquire the club and hotel as one , and leaving us potentially with no one buying the club ? 

Really hope I am wrong - but starting to fear the worst 

I guess it depends on how the hotel Administrator conducts the sale.

If it is a first and final bid, all bids opened at the same time, the deadline being Friday (say noon for arguments sake) then the Admin could not possibly (legally anyway) say that the FV bid fell short - it shouldn't even have been opened yet.

If the Admin has refused the bid for some reason, then presumably there is still time left to amended it to make it acceptable.

I also wonder what part PBP as majority hotel creditor has a say in what is going on.

My first thought yesterday when the Supporters Trust seemingly in coordination with the likes of Lion of Vienna, Burnden Aces and our esteemed newspaper journalist  blasted FV (who we are told set the ticket pricing) -

“Further to the announcement on the club website this afternoon, the BWFCST is appalled at the pricing of tickets for this coming Saturday's first home game of the season,” read a statement from the board.

“We join with other BWFC fans groups in registering our dismay at this treatment of not only the BWFC fans, but also the visiting Coventry City supporters".

https://www.theboltonnews.co.uk/sport/17822664.know-delayed-bolton-v-coventry-city-tickets/

 

...was if this is was the thanks they were getting for desperately trying to save the club from oblivion, then why even bother to carry on!

Maybe James has simply had enough and decided to cut his losses, take the £5.5m from the hotel sale and walk away.

Could anyone really blame him if he did?

Well could you?

11 minutes ago, Sluffy said:

 

 

 

...was if this is was the thanks they were getting for desperately trying to save the club from oblivion, then why even bother to carry on!

Maybe James has simply had enough and decided to cut his losses, take the £5.5m from the hotel sale and walk away.

Could anyone really blame him if he did?

Well could you?

No, I can't see James making  financial decisions based on whether Football Ventures are praised or criticised by Marc Iles on his twitter

Seriously, can you?

 

15 minutes ago, Sluffy said:

I guess it depends on how the hotel Administrator conducts the sale.

If it is a first and final bid, all bids opened at the same time, the deadline being Friday (say noon for arguments sake) then the Admin could not possibly (legally anyway) say that the FV bid fell short - it shouldn't even have been opened yet.

If the Admin has refused the bid for some reason, then presumably there is still time left to amended it to make it acceptable.

I also wonder what part PBP as majority hotel creditor has a say in what is going on.

 

I would have thought there are two bidding processes running together 

Yes one that is formal and says you have till x o clock tomorrow to get bids in 

and an informal one whereby he relays offers to the secured creditors ( PBP and KA )  who could accept a bid and end the formal bidding process 

Its this one I am talking about because if it gets the the formal process I fear that FV will be outbid and who knows where that leads to 

 

 

1 minute ago, Benny The Ball said:

I would have thought there are two bidding processes running together 

Yes one that is formal and says you have till x o clock tomorrow to get bids in 

and an informal one whereby he relays offers to the secured creditors ( PBP and KA )  who could accept a bid and end the formal bidding process 

Its this one I am talking about because if it gets the the formal process I fear that FV will be outbid and who knows where that leads to 

 

 

I would have thought that FV then would walk away, we don't have a club and some one as a hotel thats worth jack shit

1 minute ago, tyldesley_white said:

I would have thought that FV then would walk away, we don't have a club and some one as a hotel thats worth jack shit

As pointed out by others the fear is a hotel buyer prepared to overpay - let the club be liquidated then acquire the site for development...

 

11 minutes ago, Roger_Dubuis said:

No, I can't see James making  financial decisions based on whether Football Ventures are praised or criticised by Marc Iles on his twitter

Seriously, can you?

 

No I don't - but I never said that in the first place but please don't let that get in the way of your continual trolling of me.

Have a nice day.

 

8 minutes ago, tyldesley_white said:

I would have thought that FV then would walk away, we don't have a club and some one as a hotel thats worth jack shit

and KA has a few extra Quid in his back pocket  

So Unless club administrator can get KA / Quantuma / Walker Morris to compromise its game over  

 

Edited August 8, 20196 yr by Benny The Ball

Well something has gone on with the hotel today:

https://beta.companieshouse.gov.uk/company/00043026/filing-history 

Result of the meeting with creditors hmmm wonder what that could mean...

Just now, Okocha10 said:

Result of the meeting with creditors hmmm wonder what that could mean...

Its the football club and it doesn't mean anything...it is just the meeting between admin and creditors. A formal step. 

3 minutes ago, Benny The Ball said:

and KA has a few extra Quid in his back pocket  

So Unless club administrator can get KA / Quantuma / Walker Morris to compromise its game over  

 

How would that give Ken extra? Be a massive bid to do that - given he'd lose on club deal and PbP are first in line on hotel for £5.5M. 

10 minutes ago, Sluffy said:

No I don't - but I never said that in the first place but please don't let that get in the way of your continual trolling of me.

Have a nice day.

 

Get over yourself, I've responded to your posts about 3 or 4 times , the last time was a few weeks ago.

 

 This is a message board. If you don't like people disagreeing with you, start a blog.

 

Have a pleasant  evening.

19 minutes ago, Benny The Ball said:

I would have thought there are two bidding processes running together 

Yes one that is formal and says you have till x o clock tomorrow to get bids in 

and an informal one whereby he relays offers to the secured creditors ( PBP and KA )  who could accept a bid and end the formal bidding process 

Its this one I am talking about because if it gets the the formal process I fear that FV will be outbid and who knows where that leads to 

I would have thought that PBP had the ability as majority creditor in terms of debt to veto any bid and accept FV's.

If the secured creditors accept a bid other than FV then it suggests to me that PBP want to cash out and leave the process and all the consequences that would follow.

2 minutes ago, Sluffy said:

I would have thought that PBP had the ability as majority creditor in terms of debt to veto any bid and accept FV's.

If the secured creditors accept a bid other than FV then it suggests to me that PBP want to cash out and leave the process and all the consequences that would follow.

But Ken also has to agree.....

15 minutes ago, bwfcfan5 said:

How would that give Ken extra? Be a massive bid to do that - given he'd lose on club deal and PbP are first in line on hotel for £5.5M. 

Well suppose someone is prepared to pay £9 million for the hotel 

Would he lose on the club ? Not so sure . All that land. 

But this is the point - he cant have it both ways because If he accepts a bid from someone other than FV for hotel he runs the risk that the football club fails and is sold for its land value and in due course stadium is demolished - hotel with it - and any prudent buyer of the hotel would want to guard themselves against that 

 

 

Edited August 8, 20196 yr by Benny The Ball

7 minutes ago, Roger_Dubuis said:

Get over yourself, I've responded to your posts about 3 or 4 times , the last time was a few weeks ago.

 This is a message board. If you don't like people disagreeing with you, start a blog.

Have a pleasant  evening.

Thank you for your advise.

I'm happy to argue my corner at anytime, even be prepared to accept other people enlightening and better informing me, that's the good part of being on a message board.  If you wish to have a regular downer on me, then that's up to you, I won't be losing any sleep over it.

I post to inform and be informed, so a blog won't be much good for my interests, thank you for suggesting it non the less.

I will have a pleasant evening, I trust you will too.

Sweet dreams for later.

 

12 minutes ago, Benny The Ball said:

Well suppose someone is prepared to pay £9 million for the hotel 

Would he lose on the club ? Not so sure . All that land. 

But this is the point - he cant have it both ways because If he accepts a bid from someone other than FV for hotel he runs the risk that the football club fails and is sold for its land value and in due course stadium is demolished - hotel with it - and any prudent buyer of the hotel would want to guard themselves against that 

 

 

He loses his secured status in liquidation doesn't he?

11 minutes ago, bwfcfan5 said:

But Ken also has to agree.....

The majority of creditors need to agree (based on the percentage of debt they own.  PBP own £5.5m, Anderson (undetermined)  I suggest about £3.4m, unsecured £2.2m.

The Administrator has in his report stated that he envisages unsecured creditors receiving 15p in the £, and thus valuing the hotel at I presume £5.5m + £3.5m + £200k (15% of £2.2m) = £9.2m.

Seems incredibly high if the original hotel valuation was circa just £5m(?).

So unless a bid comes in at this amount or higher then it's unlikely that all the unsecured would join with KA against PBP's support of the FV bid.

 

8 minutes ago, bwfcfan5 said:

He loses his secured status in liquidation doesn't he?

No.

Football creditors lose their protected status and become just unsecured creditors but HMRC will become a preferential creditor ahead of the unsecured's.

15 minutes ago, Sluffy said:

Thank you for your advise.

I'm happy to argue my corner at anytime, even be prepared to accept other people enlightening and better informing me, that's the good part of being on a message board.  If you wish to have a regular downer on me, then that's up to you, I won't be losing any sleep over it.

I post to inform and be informed, so a blog won't be much good for my interests, thank you for suggesting it non the less.

I will have a pleasant evening, I trust you will too.

Sweet dreams for later.

 

No wonder boltoncunts is shit

Another person you’ve fallen out with! Trouble just follows you around. Maybe you should self reflect😉

1 minute ago, Morizio said:

No wonder boltoncunts is shit

Another person you’ve fallen out with! Trouble just follows you around. Maybe you should self reflect😉

You do make me laugh.

A grown man wasting his life trolling and being abusive to a complete stranger on a football forum and suggesting that they should reflect on their life!

You should take a good look at yourself first mate.

Oh, and have a nice day!

9 minutes ago, Sluffy said:

No.

Football creditors lose their protected status and become just unsecured creditors but HMRC will become a preferential creditor ahead of the unsecured's.

Cheers - is he fixed or floating charge?

2 minutes ago, bwfcfan5 said:

Cheers - is he fixed or floating charge?

Both.

https://beta.companieshouse.gov.uk/company/03674979/charges/WV3Q_QOTRrQOk2d8EelQQQkvqWk

 

Just now, Sluffy said:

Both.

https://beta.companieshouse.gov.uk/company/03674979/charges/WV3Q_QOTRrQOk2d8EelQQQkvqWk

 

So potentially some of his claim would be bumped down the queue....assuming its same on club side....