April 28, 20197 yr Sorry but I'm having a new thread This means shutting the doors and selling off everything to pay the creditors I think, correct me if I'm wrong If I'm right, let's say tomorrow KA announces we are to be liquidated 3 questions 1 does the process start immediately 2 why would he choose to liquidate 3 when/if all creditors are paid, does KA get the leftovers, if there are any Please, no guessers, cold hard facts
April 28, 20197 yr I know I’m not immediately answering the question, but wouldn’t administration bring a similar firesale in an effort to pay the creditors?
April 28, 20197 yr 8 minutes ago, Leyther_Matt said: I know I’m not immediately answering the question, but wouldn’t administration bring a similar firesale in an effort to pay the creditors? There’s a cost implication with admin that isn’t there with liquidation.
April 28, 20197 yr 11 minutes ago, radcliffewhite1 said: Didn’t someone post ages ago liquidation starts after 7 days of announcement Howard said once you announce liquidation it takes around 7 days for the liquidators to be appointed
April 28, 20197 yr Just now, Clarence Carter said: What's the timescale for a liquidation process? Between a week and 7 days
April 28, 20197 yr 7 minutes ago, stevieb said: Howard said once you announce liquidation it takes around 7 days for the liquidators to be appointed Wasn’t that seven days from winding up order is voluntary liquidation not different
April 28, 20197 yr Howard also said that Anderson would not want liquidation as that means he has to be at the ground for a week, and that a forensic audit carried out that may put Anderson behind bars.
April 28, 20197 yr A google search on liquidation threw up this https://www.kirks.co.uk/faqs/liquidation/liquidation-mean-business/ Absolutely zero experience of running a business so I'm sure some on here can make more of it than me. But I'm reading we may get up to 14 days from the decision depending on the type of liquidation. Don't know if this means we can be taken over during this time though Edited April 28, 20197 yr by gregbwfc Spelling
April 28, 20197 yr Howard said a lot of things. Probably closer to the truth with the processes than other things I suspect
April 28, 20197 yr 1 hour ago, Casino said: 2 why would he choose to liquidate 3 when/if all creditors are paid, does KA get the leftovers, if there are any Please, no guessers, cold hard facts does FGR Vince's quotes on what KA told him count as fact, or is that still being put down as something blurted out in the heat of the moment? "It doesn’t matter what you do. If you bankrupt the club, I’m a secured creditor, I will get paid, you won’t. You will get 10p on the pound"
April 28, 20197 yr 1 hour ago, Casino said: Sorry but I'm having a new thread This means shutting the doors and selling off everything to pay the creditors I think, correct me if I'm wrong If I'm right, let's say tomorrow KA announces we are to be liquidated 3 questions 1 does the process start immediately 2 why would he choose to liquidate 3 when/if all creditors are paid, does KA get the leftovers, if there are any Please, no guessers, cold hard facts https://www.gov.uk/liquidate-your-company
April 28, 20197 yr 1 minute ago, Sluffy said: https://www.gov.uk/liquidate-your-company You’re over due a review Sluffy...
April 28, 20197 yr Just now, rochdale white said: You’re over due a review Sluffy... Fwiw I've had a bit of a family reunion this weekend, so haven't had time to try and closely follow what has been going on, nor will really have much time in the coming week either. I think the key thing to establish though is, what if anything does the outstanding charge against the ownership of the shares mean on how things can proceed? If the charge against the ownership of Burnden Leisure (and BWFAC) prevents liquidation until it is settled - then Anderson has to stump up presumably £5m (or has it been amended to include the apparent £3m unsecured as well - and thus be £8m?) before he can do that? If it doesn't prevent liquidation, then I guess the thinking must be is he serious or is it just a negotiating ploy? I would have thought you couldn't sell (or liquidate) something you don't have full title of? I don't have time to try and research the point today, so unless someone else knows the definitive answer I guess we will simply have to wait and find out tomorrow if we are put into liquidation or not? So my best guess is that it is just an empty threat from KA, as I would imagine any serious purchaser would be in a position to know if he could legally do that (with the apparent lien on the shares) and as such if he is simply playing to the audience or not. Is Mr Bassini a serious buyer though? And where does the Zat Knight lookalike (Matt Southall) fit into all this? Just my thoughts really.
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