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Ram a lamb a ding dong reacted to Day in The Football Creditor rule is explicit, simple, and solves all of Derby's issues
Three parties have made offers, any one of which would allow the club to exit administration with a substantial payment to creditors.
These offers need clarity, that the claim by Boro and the potential claim by Wycombe do not qualify as Football Creditors.
The football creditor rule is not defined in the EFL regulations, it is part of the Articles of Association of the Football League Limited, of which all clubs are minority shareholders (the golden share).
The football creditor rule is in Article 48, which clearly defines what constitutes a football creditor, copied below from Companies House.
The rule clearly states that it is to cover payments of "debts due". How possibly, can an unproven, unquantified claim such as Boro's be consider a debt due?
If the EFL is suggesting that any claim by a football club or employee, which is unproven, should be classified as a football creditor it would create mayhem. And, bona fide football creditors with debts due, and other preferential and unsecured creditors would lose out as a result.
The EFL can't have this both ways. If they choose to say Article 48 does not qualify Boro's claim as a football creditor the EFL are suggesting they might be sued by Boro.
However, if they choose to say that Article 48 should be interpreted (which is a wild stretch) in a way that Boro should be classed as a football creditor then it is almost certain that the EFL would be sued by the Administrators and the creditors including genuine football creditors, and HMRC for their easily quantified losses.
The EFL also risk being sued under section 994 of the companies act for acting prejudicially against the interests of a minority shareholder of the football league ie. DCFC.
We need to apply pressure on the EFL to get off the fence, see that their actions alone are preventing the Administrators from getting a deal agreed.
Article 48 says that Boro's claim cannot be a football creditor and the EFL must state that and stop this nonesense.
"48 FOOTBALL CREDITORS
48.1 Where a Member Club defaults in making any payment due to any of the following persons,
the Member Club ('Defaulting Club') shall be subject to such penalty as the Board may decide
and subject also to Article 48.2:
48.1.1 The League, The FA Premier League and the Football Association;
48.1.2 any of the Pension Schemes;
48.1.3 any Member Club and any Club of The FA Premier League;
48.1.4 any holding company of The League and any subsidiary company of that holding
company;
48.1.5 any sums due to any full-time employee or former full-time employee of the Member
Club by way of arrears of remuneration up to the date on which that contract of employment is
terminated. This excludes for these purposes all and any claims for redundancy, unfair or
wrongful dismissal or other claims arising out of the termination of the contract
or in respect of any period after the actual date of termination;
48.1.6 any sums due to the Professional Footballers Association in repayment of
an interest free loan together with such reasonable administration and legal costs as have been
approved by the Board;
48.1.7 The Football Foundation;
48.1.8 The Football Conference Limited trading as "the National League";
48.1.9 The Northern Premier League Limited;
48.1.1O The Isthmian League Limited;
48.1.11 The Southern League Limited;
48.1.12 Any member club of the League or organisations listed in Articles 48.1.8 to 48.1.11
inclusive;
48.1.13 Any County Football Association affiliated to The Football Association; and
48.1.14 Any Leagues affiliated to The Football Association and any clubs affiliated to any
County Football Association recognised by The Football Association.
48.2 Subject to the provisions of Articles 48.3 and 48.4, the Board shall apply any sums
standing to the credit of the Pool Account which would otherwise be payable to a
Defaulting Club, in discharging the creditors in Article 48.1. As between the Football
Creditors, the priority for payment shall be in accordance with the order in which those
Football Creditors are listed in Article 48.1.
48.3 If, having discharged all Football Creditors in any preceding class of Football
Creditor (as
· required by Article 48.2) the sum then available is not suffident to discharge in full the
Football Creditors listed in Articles 48.1.1, 48.1.2 or 48.1.4 the Board will decide the
allocation.
48.4 If, having discharged all Football Creditors in any preceding class of Football
Creditor (as required by Article 48.2) the sum then available is not sufficient to discharge in
full the Football Creditors listed in Article 48.1.3, 48.1.5, 48.1.12, 48.1.13 or 48.1.14 the sum
will be allocated pro rata amongst the creditors of the same class.
Note - Clubs are reminded that any assignment of future entitlements from the pool account are
subject to Article 45 and this must be brought to the attention of the other party. Furthermore
assignments must be in legal form and registered with the office. Assignments are given priority
according to the date and time of registration."
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Ram a lamb a ding dong got a reaction from HuddersRam in The Administration Thread
Agree. Late night post = a rocket up their a$$e$ and trying to justify complete nonsense
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Ram a lamb a ding dong got a reaction from cosmic in The Administration Thread
Agree. Late night post = a rocket up their a$$e$ and trying to justify complete nonsense
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Ram a lamb a ding dong reacted to nottingram in The Administration Thread
Also an admittance, from themselves, that their “Articles and Insolvency Policy” is open to interpretation.
What are they doing? How can they have so many regulations that are open to interpretation, and if it is, how can Quantuma’s interpretation of it be wrong?!
Utterly, utterly incompetent and a stain on the sport.
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Ram a lamb a ding dong reacted to Premier ram in Care about DCFC - how to email your MP
Emailed her too mate
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Ram a lamb a ding dong got a reaction from Crewton in Petition to the Sports Minister
Nah. Talksport very blinkered. Even the 10am slot skirts around the matter. I think they avoid the pointed questions to avoid any infringements
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Ram a lamb a ding dong reacted to BaaLocks in Petition to the Sports Minister
Nice of him to give some of it back
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Ram a lamb a ding dong reacted to Half fan in Care about DCFC - how to email your MP
Thanks for the link. I have just written to my local Rushcliffe MP Ruth Edwards.
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Ram a lamb a ding dong reacted to DarkFruitsRam7 in Care about DCFC - how to email your MP
Not generally a fan of Bridgen but he's gone up in my estimations here.
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Ram a lamb a ding dong reacted to Oldben in Petition to the Sports Minister
Probably requires a publicity stunt to Ram whom the message of the passion of Derby fans on the issue.
A demonstration outside Parliament or a parachuting directly into pride Park carrying a message for the administrators or a fly past with a banner over middlesborough game saying "gibson leave our club alone".
Fly past with banner over efl hq saying "efl leave our club alone!".
These things might gain a mention in the national press.
Mind you, what ever is done has to happen before the 1 February, the efl deadline for our club.
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Ram a lamb a ding dong reacted to Yani P in Petition to the Sports Minister
Looks like the combination of emails to MPs, Twitter messages etc. are already doing a job. Lots of MPs saying they want urgent meetings with Sports Minister and EFL..great stuff..keeping the pressure up is vital and spreading the message wider is also essential to make things happen. Also a few celebs Tweeting about Derby and seems like at least a part of the mainstream media is picking up the message.
Great stuff by everyone . All Derby fans are after the same outcome...end the vendetta..we have our punishment..let us get on with the football. The Petitions will look great with the thousands of signatures, again the wider the message spreads the more people will sign.
Do we have any agreed hashtags we could use to keep the messages linked and relevant?
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Ram a lamb a ding dong got a reaction from FlyBritishMidland in Care about DCFC - how to email your MP
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Ram a lamb a ding dong got a reaction from I know nuffin in Petition to the Sports Minister
Great traction. Now at 36k. Expect to hit 50k around Tuesday.
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Ram a lamb a ding dong reacted to Brammie Steve in Care about DCFC - how to email your MP
As well as signing the petition I have contacted my MP, John Spellar.
We can’t just sit back and let our great Football Club be destroyed by jealousy, malice and/or vindictiveness.
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Ram a lamb a ding dong reacted to nogbad van 50 in Serdar Dursun
No energy left for the second half then!
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Ram a lamb a ding dong reacted to Rampage in Serdar Dursun
All this seems more likely than not but I think we are all a bit nervous to see what happens. We are playing with half our team perhaps. Looks like the Academy players will have to drop back. Much easier for them to play well in a good team than a struggling one.
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Ram a lamb a ding dong reacted to Wolfie20 in Serdar Dursun
One of the best examples in recent Rams history was when we signed Shefki Kuqi on an emergency loan. He'd hardly been prolific in the previous 3 seasons but for about 10 games we played some of the best attacking football for quite a long while. Although scoring only a couple of goals he just seemed to fit.
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Ram a lamb a ding dong reacted to Macintosh in Serdar Dursun
On the Beatles' version it is do dun do do:
Here comes [Der Sun], do, dun, do, do
Here comes [Der Sun], and I say
It's all right
[Der Sun], sun, sun, here he comes
repeat four times.
On Steve Harley's Cockney Rebels no doo doo, just:
Here comes [Der Sun], here comes [Der Sun]
And I say it's all right
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Ram a lamb a ding dong reacted to Keepyuppy in Serdar Dursun
I’ve still not got over the £1.5 we paid for Connor Sammon !!
Surely no one can be as poo as he was ? ?