Wanderers v Coventry

[Dr Faustus]

3 hours ago, Casino said:

8 of us travelled, saturday

24 sheets of a4 printed 

Don't trust phones

I think I saw you outside 

Did you manage to Save the Clock Tower? 

[green genie]

24 notes was matchday price at Home Park last year. You've just list 5M/yr TV money they'll need to make up for. JSL

[Chris Custodiet]

11 hours ago, Traf said:

another non-story from the thumb-headed news nonce

Don't know how you can say that about the Beeno's best chance of winning a Pulitzer.

[Lt. Aldo Raine]

6 hours ago, Sluffy said:

Sorry for delayed reply, I've been out for the evening.

Payment from the Administrator would be seen as preferential treatment to an unsecured creditor but rather interestingly we are informed by Iles that it is FV who are the ones paying to stage the game.

I guess there would be no issue if FV made a goodwill payment to say Tick master directly (rather than from the Administrator) and in turn they drop their claim as a secured creditor (against BWFAC Ltd) and provide immediate service to the Administrator for the sale of tickets for the Coventry match.

It would cost FV around £40k more than they needed to have paid (to fund the unsecured creditors at 35p in the £) but their 'goodwill' gesture would of course give them instance access to cash flow from sale of ST's and match day ticketing from day one of the takeover.

Such action may/would obviously be viewed unfavourably by those unsecured creditors not given a goodwill payment but I suggest Ticket Master is so key an element for their immediate cashflow issues that they may well take that chance and get them onboard ASAP.

That's how I see it anyway.

 

What would Ticketmaster's debt be secured against, out of interest?

[Chris Custodiet]

7 hours ago, Sluffy said:

Sorry for delayed reply, I've been out for the evening.

Payment from the Administrator would be seen as preferential treatment to an unsecured creditor but rather interestingly we are informed by Iles that it is FV who are the ones paying to stage the game.

I guess there would be no issue if FV made a goodwill payment to say Tick master directly (rather than from the Administrator) and in turn they drop their claim as a secured creditor (against BWFAC Ltd) and provide immediate service to the Administrator for the sale of tickets for the Coventry match.

It would cost FV around £40k more than they needed to have paid (to fund the unsecured creditors at 35p in the £) but their 'goodwill' gesture would of course give them instance access to cash flow from sale of ST's and match day ticketing from day one of the takeover.

Such action may/would obviously be viewed unfavourably by those unsecured creditors not given a goodwill payment but I suggest Ticket Master is so key an element for their immediate cashflow issues that they may well take that chance and get them onboard ASAP.

That's how I see it anyway.

 

I'm not an insolvency expert, Sluffy, but I suspect its covered by this:

56.1.59 General power to manage

The administrator acts as the company's agent and has a general power to do anything necessary or expedient for the management of the company's affairs, business and property. An administrator has the same general powers as the company and/or its directors [Note 1].

and this:

The administrator may make a payment without the agreement of the court, for example to secure future supplies or pay employees, if he/she thinks it will help achieve the purpose of the administration [Note 19]

Edited August 8, 2019 by Chris Custodiet

[Escobarp]

21 minutes ago, Lt. Aldo Raine said:

What would Ticketmaster's debt be secured against, out of interest?

Nothing. Unsecured 

[Guest]

25 minutes ago, Chris Custodiet said:

I'm not an insolvency expert, Sluffy, but I suspect its covered by this:

56.1.59 General power to manage

The administrator acts as the company's agent and has a general power to do anything necessary or expedient for the management of the company's affairs, business and property. An administrator has the same general powers as the company and/or its directors [Note 1].

and this:

The administrator may make a payment without the agreement of the court, for example to secure future supplies or pay employees, if he/she thinks it will help achieve the purpose of the administration [Note 19]

If they have the money in the business to do so....

[Chris Custodiet]

23 minutes ago, bwfcfan5 said:

If they have the money in the business to do so....

Of course.

[Wanderlust]

Sorry to get back on topic for the minute - well sort of.....

Has there been an update on Josh Earl's injury?

[Guest]

1 minute ago, Hoppy510 said:

Sorry to get back on topic for the minute - well sort of.....

Has there been an update on Josh Earl's injury?

8-12 weeks same as Hall - that was on official site but its all that's been said. 

[Wanderlust]

Just now, bwfcfan5 said:

8-12 weeks same as Hall - that was on official site but its all that's been said. 

So not an ACL then? Thank goodness for that. With our luck I was half expecting he'd need an amputation.

[Lt. Aldo Raine]

10 minutes ago, Hoppy510 said:

So not an ACL then? Thank goodness for that. With our luck I was half expecting he'd need an amputation.

Aye, it's good news. The way he went down on Saturday, I thought it was an out-for-the-season job.

[Traf]

17 minutes ago, Hoppy510 said:

So not an ACL then? Thank goodness for that. With our luck I was half expecting he'd need an amputation.

Ankle rather than knee.

I thought it would have been knee related, the way his knee jarred into the turf.

[Okocha10]

It was ridiculous the way he got injured due to a shit offside rule 

[Guest]

Any ticket update?

[Tonge moor green jacket]

Not as of a few minutes ago.

[Okocha10]

Bit concerning they've not put any statement yet with bloody 2 days to go!

[Tonge moor green jacket]

Free at this rate. First come, first in a seat.

[Matty]

Wonder if the EFL have been in contact yet over it to find out what’s going on

[ErnestTurnip]

Norris McWhirter and Roy Castle on hand to verify the world's biggest game of musical chairs as lower tier season ticket holders get arsey with folk.

[SBHarry]

It is odd - 24 hours (give or take) since 'we'll update you in the morning' Then not to have posted anything is really cutting things fine. If they have (assuming they haven't already) any problems with the website, they are going to end up in a right mess. Let's hope it is somehow all plain sailing. I want as many Cov fans there as possible (if only to help your lot with the finances). It will also help with the atmosphere if there is a decent away following. Are you expecting a 'positive' atmosphere amongst the home support? As some have said on here, it will be a bit odd sitting next to different people (the same happened with us at Birmingham's stadium last Saturday, but it was strangely positive). Anyway, said it before - good luck, and hope you get some positive news asap.

Edited August 8, 2019 by SBHarry
Typo

[Okocha10]

It's bad enough they teased us with the ticket sales yesterday 10 minutes from publishing them from not hearing anything about them at all haha ffs

[tomski]

I take back my previous balls to Cov we need to get sorted statement it is a bit late in the day now. Hopefully it all gets sorted. I can’t think of a situation like this before.

[tomski]

12 minutes ago, SBHarry said:

It is odd - 24 hours (give or take) since 'we'll update you in the morning' Then not to have posted anything is really cutting things fine. If they have 8assuming they haven't already) any problems with the website, they are going to end up in a right mess. Let's hope it is somehow all plain sailing. I want as many Cov fans there as possible (if only to help your lot with the finances). It will also help with the atmosphere if there is a decent away following. Are you expecting a 'positive' atmosphere amongst the home support? As some have said on here, it will be a bit odd sitting next to different people (the same happened with us at Birmingham's stadium last Saturday, but it was strangely positive). Anyway, said it before - good luck, and hope you get some positive news asap.

Could go either way with us mate. Sometimes our support surprises on both ends of the scales. I think whatever the number it will be a positive atmosphere from the fans.

The potential new owner Sharon Britain said she’d speak to people on Sat last week but no idea if that’s been put back or not.

[gonzo]

6 minutes ago, tomski said:

I take back my previous balls to Cov we need to get sorted statement it is a bit late in the day now. Hopefully it all gets sorted. I can’t think of a situation like this before.

As each event unfolds the more surreal it gets. 

I just can’t see how it goes ahead at this stage. 

Theres no way there’ll be any bovril left that’s for certain.