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« Reply #510 on: Saturday, May 15, 2021, 12:36:55 » |
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Something on my mind about admin...
In order for admin to be accepted, the club would have to be able to demonstrate it cannot pay its debts. But would a valid (assuming it is valid) takeover bid mean the club can indeed pay it's debts? I thought there were rules stating just that - a viable takeover offer meant a company could not be put in administration in preference. buggered if I can find where I read that But I bet it gets messier than that. e.g. if the debts are massive administration may be the only route to get a sale and keep us going |
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The Artist Formerly Known as Audrey
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?Absolute Calamity!?
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« Reply #511 on: Saturday, May 15, 2021, 12:43:56 » |
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The position Derby are in. 3 failed takeover bids. Debts of £60m. Why would any new owner take that on when admin would wipe them out - at least, non football creditor debts.
Wigan got put in Admin this season when viable as a business, didn’t get docked points because of that.
Actually, not sure of that last bit. All got fuzzy with what went on.
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« Last Edit: Saturday, May 15, 2021, 12:48:45 by The Artist Formerly Known as Audrey »
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singingiiiffy
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« Reply #512 on: Saturday, May 15, 2021, 13:40:41 » |
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If Clem takes over I wonder whether Fowler might have an ownership stake. Forgot that he is reportedly worth c.£40m.
wonder where he would rank in the richest manager stakes! |
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Pookemon
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« Reply #513 on: Saturday, May 15, 2021, 14:57:48 » |
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In order for admin to be accepted, the club would have to be able to demonstrate it cannot pay its debts. But would a valid (assuming it is valid) takeover bid mean the club can indeed pay it's debts?
It's not in Power's, Standing's or Morfuni's interest for the club to go into admin, as they are almost certainly, by far and away the main creditors, so I can't see it happening. Admin would usually happen prior to a takeover to clear the deck for a new owner. |
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The Artist Formerly Known as Audrey
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« Reply #514 on: Sunday, May 16, 2021, 13:23:43 » |
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Are the FA likely to be waiting to see the outcome of the court case before revealing their sanctions? If the court case drags on, what happens if the FA decide to ban Power whilst he’s still owner?
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pauld
Aaron Aardvark
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Absolute Calamity!
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« Reply #515 on: Sunday, May 16, 2021, 13:34:27 » |
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The position Derby are in. 3 failed takeover bids. Debts of £60m. Why would any new owner take that on when admin would wipe them out - at least, non football creditor debts.
Wigan got put in Admin this season when viable as a business, didn’t get docked points because of that.
Actually, not sure of that last bit. All got fuzzy with what went on.
You're right to not be sure, they went into administration last season and were docked points last season which is why they went down despite a remarkable run of form at the end of the season https://www.bbc.co.uk/sport/football/53649840.amp |
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The Artist Formerly Known as Audrey
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?Absolute Calamity!?
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« Reply #516 on: Sunday, May 16, 2021, 15:54:18 » |
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so what is the normal outcome of a directive hearing?
‘It will provide key dates by which you and the defendant must complete certain tasks by. These directions will be set out by a judge in a court order and will provide details of all the steps that the judge believes are necessary to progress your case to trial.’ Didn’t the judge at the previous hearing tell them to sort it by middle of May? |
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Legends-Lounge
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Non PC straight talking tory Brexit voter on this
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« Reply #517 on: Monday, May 17, 2021, 06:39:29 » |
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Well this week could be very interesting. Keep your eyes and ears pealed and your devices tuned in.
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Shrivvy Road
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« Reply #518 on: Monday, May 17, 2021, 06:54:01 » |
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Sorry if i missed it but did anyone have a link for the case today?
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Batch
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« Reply #519 on: Monday, May 17, 2021, 07:37:48 » |
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Sorry if i missed it but did anyone have a link for the case today?
^^ what he said ^^^ |
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kaufman
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« Reply #520 on: Monday, May 17, 2021, 07:39:17 » |
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JanAirplaneMan
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« Reply #521 on: Monday, May 17, 2021, 07:40:40 » |
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Sorry if i missed it but did anyone have a link for the case today?
Hi there, the Trust will be attending the event today and will update fans post the case and also on the Supporter Club Monday night panel at 7pm on Facebook too.. Please see article here: https://truststfc.tv/ownership-court-case-a-statement-from-the-board-of-truststfc/We are trying to encourage fans not to attend the event as unfortunately in the past disruptions and many fans attending have caused issues and it is likely if this occurs again then the case will be halted and re-arranged and none of us want that as we need a conclusion asap. |
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jayohaitchenn
Wielder of the BANHAMMER
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« Reply #522 on: Monday, May 17, 2021, 07:41:38 » |
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What's the fucking point in that? Those that would attend and behave properly now likely won't and all the prats will jut ignore the advice. |
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Batch
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« Reply #523 on: Monday, May 17, 2021, 07:57:29 » |
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What's the fucking point in that? Those that would attend and behave properly now likely won't and all the prats will jut ignore the advice.
I guess Town fans are most likely to fall foul of the bit about 'not discussing online it until its concluded' That said, we're not children. |
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Costanza
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« Reply #524 on: Monday, May 17, 2021, 07:58:44 » |
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That said, we're not children.
Some of us are 6ft5. |
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