RammingStone66

If the EFL aren't careful the government could easily opt to introduce an independent regulator as has previously been proposed.

Another interpretation of that thread suggests the Admins are preparing the ground to take the claims out of the equation with a Cross Class Cram Down action. To get one, a court has to believe that no party to the action is worse off than any other possible outcome - and it looks like the Admins are clearly illustrating that the alternative is liquidation and virtually nothing for all creditors.
A CCCD that offers to pay 100% to all current football debts and secured creditors; 25% to to other recognised creditors and strikes out the claims as non creditors would allow the Club to have a clear path forward and would fit into current EFL insolvency exit rules.
If the EFL attempted to block the transfer over the golden share to the new owners over the treatment of the MFC and WWFC claims they would be in breach of their own Articles and be in the firing line for a legal challenge.

Not sure if new but still made me a little teary. Love Igor
 

He did. it just wasn't his. We never got to the bottom of who's it was, beyond establishing is wasn't the person who he said it was.
Was a very weird episode and I genuinely don't think anything good was going to come from it. The hold up on approving him was he couldn't move the funds he said he had into a UK bank account at the request of the EFL (because the EFL didn't believe the money was his either)
The tiktock house was just the icing on the cake. 
Shady chancer as Alonso was, the people behind him were almost certainly not legitimate and that's the real concern.
But, Mel was happy to hand us over and when it didn't work out us in administration.

Me too, he is pretty good on the show and knows his stuff… just not about Derby

I actually don't mind Simon Jordan, but I've learnt that he shouldn't be taken as an authority on anything Derby County

Would you trust the EFL not to screw the new owners by doing something like retrospectively giving Boro & Wycombe 'football creditor' status?!

I know they shouldn't do it and shouldn't need to do it but it does worry me slightly that none of the bidders will step up to put in a bid then fight the case. 
 

You'd think old Steve had never bought a business before. The only way anyone with more than half a brain would buy a business with multi-million pound claims against it, claims that are to be determined not in an actual Court but infront of a League Arbitration Panel notorious for their inconsistencies, is if the Vendor provided a watertight Indemnity backed by actual cash in Escrow or with another form of foolproof surety.
That paragraph is completely disingenuous, designed to deceive those who want to believe what it infers.
 

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."

Mel isn't going to spend another penny on this club. He has made that very clear in his actions

I hate to say it, but if/when we are liquidated the EFL will carry on regardless and will no doubt be seen as heroes in a year or twos time, having negotiated a bigger/better deal for its members, ensuring the unfortunate events seen at Derby County never happen again.
We are the sacrificial lamb in their fight against the prem.
Just look at the silence from the likes of Talk Sport and Sky Sports. Our club is days away from liquidation and all they care about is Rooney and Everton.
 

The problem is not a legal one. My understanding is that legally we can get a restructuring agreement and walk away from the claims.
The problem is that it supposedly breaches EFL rules so they won't allow us to remain in the league if we follow that route. It then effectively removes the restructuring plan as an option because no bidder will actually fund the restructure without the golden share.

YUK - Ridsdale should never be allowed back near a football club let alone the EFL.

Mel isn't going to spend another penny on this club. He has made that very clear in his actions

Could this be a tactic to put pressure on the EFL via the creditors. By telling the creditors were going to screw you on the money might they then pressure the EFL to get Boro etc to bog off and try and get a better deal for the creditors???

I don't think he was ever going to step in. Maybe at 1min to midnight on the day of liquidation ?

I have to say, I am impressed by this DCFCBAWT group. They seem to be completely on top of what is going on, and in sync with Quantuma strategy. I really dont know much about Ramstrust, certainly not going back 15 years, but obviously more so in the last few months, and therefore to some this might be harsh, but they do seem more likely to take a flask of tea and a few cushions to a meeting rather than any real understanding of what the hell is going on.

Could this be a tactic to put pressure on the EFL via the creditors. By telling the creditors were going to screw you on the money might they then pressure the EFL to get Boro etc to bog off and try and get a better deal for the creditors???

Should we be all emailing talksport this morning. Enough email might convince producers to give it some time?

The petition is gaining momentum, a great amount of signatures and some coverage in the news but wouldn't it be great if sports networks like Talksport brought this up. They barely talk about the championship- the obsession with the 'big 6' is too much when this is a proper big football story. They would probably rather talk about poor defending by Man U or whats going wrong at Spurs sort of things!

Mel isn't going to spend another penny on this club. He has made that very clear in his actions

Mel isn't going to spend another penny on this club. He has made that very clear in his actions

Mel isn't going to spend another penny on this club. He has made that very clear in his actions

My point is we need to get teams thinking about the implications now……not months down the line.
The prospect of this happening might get them asking questions of the EFL/applying pressure.
Its a Hail Mary and may have no impact, but we’ve got nothing to lose 
We also need to publicise/face down the EFL’s removal of “golden ticket” threat.