Flashheart
|
|
« Reply #495 on: Wednesday, April 14, 2021, 17:26:11 » |
|
able are real - well blow me down with a feather.
I might have misheard something along the way.
|
|
|
Logged
|
|
|
|
pauld
Aaron Aardvark
Offline
Posts: 25436
Absolute Calamity!
|
|
« Reply #496 on: Wednesday, April 14, 2021, 17:27:50 » |
|
There is no mention of injunctions in that short write up. I wonder whether some confusion has arisen as to the nature of any application.
It is implied in the reference to putting evidence before the court. And a Trust board member tweeted about getting excommunicated following "today's injunction hearing" https://twitter.com/socialPolly/status/1382367659669475330
|
|
|
Logged
|
|
|
|
|
Flashheart
|
|
« Reply #498 on: Wednesday, April 14, 2021, 17:30:20 » |
|
So, what does that mean. Does the court get to choose which?
|
|
|
Logged
|
|
|
|
JoeMezz
Offline
Posts: 2709
|
|
« Reply #499 on: Wednesday, April 14, 2021, 17:30:53 » |
|
FWIW I heard on Monday that power was looking to remove an injunction to prevent him from selling the club. Havent heard about admin though
|
|
|
Logged
|
|
|
|
pauld
Aaron Aardvark
Offline
Posts: 25436
Absolute Calamity!
|
|
« Reply #500 on: Wednesday, April 14, 2021, 17:31:11 » |
|
So, what does that mean.
Does the court get to choose which?
Fuck knows. I'd read it as an application for an injunction to prevent both outcomes but I may have misconstrued that
|
|
|
Logged
|
|
|
|
JBZ
Not as likeable as Reg was, a fencesitting WUM
Offline
Posts: 3264
Allegedly, not a Swindon Town supporter
|
|
« Reply #501 on: Wednesday, April 14, 2021, 17:34:53 » |
|
This may be an application for an order to enter administration (rather than via the out of court route).
I think that the standing injunction did not prevent whichever company going into admin (whereas I think the axis one did). So, I suppose there may have also been some attempt to restrain an application for an administration order.
Edit: I have now seen the posts above.
|
|
« Last Edit: Wednesday, April 14, 2021, 17:37:09 by JBZ »
|
Logged
|
Nothing to see here
|
|
|
Flashheart
|
|
« Reply #502 on: Wednesday, April 14, 2021, 17:37:49 » |
|
Alex Pollock @socialPolly · 2m Replying to @pieman80 @KieranMaguire and 4 others Ultimately, Axis has a shareholding in the company and are moving to ensure this isn't overturned.
We should know more context and info at the next hearing, where the Court can take everything into consideration.
From what I could gather, no party wants the admin route. Sounds again to me like Power is trying to overcome an injunction.
|
|
|
Logged
|
|
|
|
JBZ
Not as likeable as Reg was, a fencesitting WUM
Offline
Posts: 3264
Allegedly, not a Swindon Town supporter
|
|
« Reply #503 on: Wednesday, April 14, 2021, 17:41:34 » |
|
Sounds again to me like Power is trying to overcome an injunction.
I don't know any detail but there may be some confusion/misunderstanding around the substantive legal issues.
|
|
|
Logged
|
Nothing to see here
|
|
|
BambooToTheFuture
Offline
Posts: 10170
I'll Tell Ya Now - McGurk Is The New Graham
|
|
« Reply #504 on: Wednesday, April 14, 2021, 17:44:59 » |
|
Doesn't "A.B.L.E Company" just stand for "Administration Be Lee's Exit" Anyway, had a few people ask about the profile/avatar. It may seem a bit "cheese" or "embarrassing" but at this, stage I'd happily wear a cap with "Power Out" on it. If anyone wishes to use it, feel free. I think it dipicts everything about the current state of the club, specifically those who are currently majority owner(s)...
|
|
|
Logged
|
'Incessant Nonsense' ______________________________________________________________
'I'm gonna tell you the secret. There's a threat, you end it and you don't feel ashamed about enjoying it. You smell the gunpowder and you see the blood, you know what that means? It means you're alive. You've won. You take the heads so that you don't ever forget.'
|
|
|
JBZ
Not as likeable as Reg was, a fencesitting WUM
Offline
Posts: 3264
Allegedly, not a Swindon Town supporter
|
|
« Reply #505 on: Wednesday, April 14, 2021, 17:47:45 » |
|
If the standing injunction restrains a sale or administration, LP would have to apply to vary/alter the terms of the injunction. The application would have to set out his case on why the court should do so. CM/MS would have the opportunity to resist the application.
|
|
|
Logged
|
Nothing to see here
|
|
|
Boeta
Offline
Posts: 3887
|
|
« Reply #506 on: Wednesday, April 14, 2021, 17:48:38 » |
|
What would be the reasons that Power might want admin? Surely a sale to Morfuni is more profitable?
|
|
|
Logged
|
|
|
|
Flashheart
|
|
« Reply #507 on: Wednesday, April 14, 2021, 17:48:54 » |
|
Would anybody knowledgeable in these matters know if a court is likely to accept administration when it is avoidable? Bearing in mind this is not the typical administration application. (There's not usually an injunction in place)
|
|
« Last Edit: Wednesday, April 14, 2021, 17:51:08 by Flashheart »
|
Logged
|
|
|
|
Simon Pieman
Original Wanker
Offline
Posts: 36319
|
|
« Reply #508 on: Wednesday, April 14, 2021, 17:56:28 » |
|
Would anybody knowledgeable in these matters know if a court is likely to accept administration when it is avoidable? Bearing in mind this is not the typical administration application. (There's not usually an injunction in place)
The court don't get involved in deciding if admin a route the company is allowed to take unless there has been a winding up petition.
|
|
|
Logged
|
|
|
|
Cowley38
Offline
Posts: 557
|
|
« Reply #509 on: Wednesday, April 14, 2021, 18:00:00 » |
|
What would be the reasons that Power might want admin? Surely a sale to Morfuni is more profitable?
Power could name himself as creditor and get more money...
|
|
|
Logged
|
|
|
|
|