atherstoneram

2 hours ago, PistoldPete said:

His offer in early May wasn't enough to keep u sin the League leave alone to avoid 15 points deduction. Dunno what his next offer was but if he waited eight months to come up with a pathetic offer like his first one I won't be holding my breath over Ashley. 

The top and bottom of it is Ashley wasn't expecting anyone coming in and making an offer on the club,that thwarted his plans of picking the club up for peanuts,that's why he has been nibbling away at the EFL.

2 hours ago, RoyMac5 said:

He's a qualified administrator?

So he is coming in to tell other qualified administrators how to do their job,they should meet him at the door and tell him to return to Preston as his help is not needed or indeed helpful.

3 hours ago, Animal is a Ram said:

 

More media claptrap,until somebody makes an official statement it's all hearsay.

6 minutes ago, Tyler Durden said:

Am not asking anymore as there seems to be a total misunderstanding or miscommunication on here around UK insolvency laws with special regard to football clubs 

Go on then enlighten me with special rules regarding football clubs?

2 minutes ago, Tyler Durden said:

Yer so what's the point of Ashley getting onto the EFL as it'll be HMRC who basically decide whether the offer is good enough to remove that club from administration not the EFL, what you've said doesn't make any sense

The administrators cannot accept an offer by law which doesn't meet the minimum requirement for lifting the club out of administration not HMRC.

7 minutes ago, PistoldPete said:

Quantuma has no intention of liquidating us, and there are several intersted buyers so we will not be liquidated.

Q has gone for the highest bidder, EFL want someone who can come in quick so that they can be sure we will last the season. So it's time versus money.   

Yes i agree but if they offer a different rescue package then that has to go back to the creditors for acceptance and may enter into discussion about it,that takes time,meanwhile the EFL are getting twitchy whether we will be in a position to play next season,if we remain in liquidation they will want assurances we can complete the season,whether that can be guaranteed is a different matter.

4 minutes ago, Tyler Durden said:

Apologies as you're new to this forum but this discussion has been had over many times on here...if the HMRC are the largest creditors then they will decide ultimately whether to accept an offer or not and if they don't think it's enough then isn't it their prerogative to then say the club gets liquidated?

There's must be a minimum value set to all of these precedings?

There is and if that isn't met then the administrators take the next step of putting the club into liquidation. To me it seems MA has been onto the EFL because his offer doesn't meet that.

6 minutes ago, Ramos said:

Elon musk pulls out of buying Twitter to buy DCFC instead. You heard it here first. 

Have heard he only wants the ground and surrounding areas so he can launch his European SpaceX rockets

7 minutes ago, CBX1985 said:

With respect, you conflate two separate issues.  One factual; one not.

If both parties fail to agree, you are correct it is factual they do not leave administration.  The price to be paid is in some way set: this is the thing to be needs to be discussed, and is not.

Let's call the final day before liquidation D-Day.  On D-Day +1 you get nothing.  Six months to D-Day, you might only accept 60p in the pound as someone might come along with an amazing bid.  Six weeks pre D-Day you might accept 35p.  D-Day morning you might accept 10p.  By that evening, you will accept pennies in the pound as you will get nothing if you don't - and that moment is moments away.

If a creditor is owed £1m, they might get £100,000 from Ashley.  They get nothing in liquidation.  On the last day they accept.  Before that point they procrastinate as they might get more.  It's like that weird indoor cycling: everything always comes down to the last lap, as everyone holds out until the end for better. 

Without a knight in shining armour, the creditors get nothing or something.    But, as I say, there needs to be a point of no return to focus minds.  It is literally day one 101 of negotiation school.  

Indeed,creditors will not be bothered whether the club survives or not. They make take the view they have been offered 35% so a new bidder pays that or no deal.

7 minutes ago, SillyBilly said:

Bit of moot point IMO regarding EFL meddling. The club is nothing without EFL membership, to its creditors, to its supporters, to its owners. This is not a conventional business so it is not a conventional administration process. And I agree with the EFL fully actually FWIW in their latest statement, there are 23 other clubs in League one that deserve clarity on their competition for next year. Time has ran out for everyone so it is put up or shut up time. 

Sorry but if the EFL are thinking along those lines they simply expel us from the league and not get involved in insolvency actions but they are cowards and dare not do that,they don't want to be seen as authors of our demise.

To say Trevor Birch an EFL board member will have an active role in this with him being an insolvency practitioner raises a huge Red flag regarding conflicts of interest.

1 minute ago, Animal is a Ram said:

 

There is another way to look at their statement (having the interests of the club at heart yeah right) they don't want to be the organisation that sees the club removed from the league but if Quantuma liquidate us then the EFL can say they tried everything possible to save the club.

Next time a club gets in financial trouble then they don't appoint administrators then they just refer the matter to the EFL to sort out a new owner. Jeez!!!!

9 minutes ago, CBX1985 said:

Indeed that is a discussion.  it is not a dichotomy - CK or nothing.

The amount offered by CK may be illusionary.  If it is, there was no real deal.  The negotiation has to find an acceptable amount for both sides. We start again.

MA has a infinitely stronger negotiating position.  Creditors don't have a world of options in a business that has no assets to sell.

  

It is not a discussion it's a fact,if a bidder doesn't offer enough to raise the club out of administration it doesn't happen

13 minutes ago, Ramos said:

So do we actually know for a fact MA’s offer was too low? Or are we having to take it at face value of what Q said? Im not sure I trust anything of what they say. 
 

Cause I just wonder if MA has actually been allowed to ever actually talk and make an official offer. I’m assuming this is the case he has made to the EFL and that is why they have now stepped in. It would make sense right? A buyer comes to them and says look I have the means to make this happen and they are ignoring me… what can you do to get me in the door?
 

Or is that really all too simple a narrative for this complex situation? 

The EFL cannot override appointed administrators who in turn have to report their findings to the judiciary,they might like to think they can.

13 minutes ago, Tyler Durden said:

Ummm what's stopping us playing the entirety of next season in administration?

There's no rules about how long a club is allowed to be in administration for - look at Wigan, Portsmouth etc 

Why are the EFL suddenly getting all precious about us potentially going into next season in administration, they weren't particularly bothered about it for the past season.

Because we didn't start last season in administration.

19 minutes ago, GenBr said:

with the 2022/23 fixture list due to be released in less than two weeks, and need to act now in the best interests of the EFL. 

Well as long as the interests of the EFL are protected thats all that matters. 

with an acknowledgment that the League will be able to negotiate directly in relation to matters concerning the transfer of the share in the EFL. 

I'm not an expert on administration stuff but isnt this pretty pointless? If the administrators dont think an offer is good enough nothing the EFL can do will change that and it wont matter who they want to give the share ti. Unless they're saying they are just going to give it to a completely different team

No matter what the EFL spout they cannot interfere in insolvency matters,they cannot compel creditors to take what is offered.

39 minutes ago, Elwood P Dowd said:

Of course the EFL want Derbys bills settled,  we all want to get back to normal, whatever that is. I would be surprised at the EFL trying to apply public pressure on the Administrators, is Nixon article simply his understanding of the EFLs position?

Doesn't really matter whether they are trying to put public pressure on or not.

The real problem is the amount of debt and if nobody is willing to provide enough funds to lift the club out of administration then it won't happen.

27 minutes ago, CBX1985 said:

Indeed - 100% correct.  if CK pays, he can't because he isn't going to want to match the price.  If CK doesn't pay, then the offer was actually zero so MA will offer more than that.

MA has got to offer enough to bring the club out of administration and also come to an agreement which is acceptable to the creditors without either of those MA is a none runner.

2 minutes ago, G STAR RAM said:

And what exactly is the complaint going to be?

'You didn't sell our club as quickly as we wanted'?

Cant say I am impressed with Quantuma in the slightest, but I don't have an iota of evidence that they have actually done anything wrong.

And I wouldn't waste anyone's time by raising an official complaint that their communication was not as good as I wanted it to be.

Exactly, i can't see what the complaint would be based on.

That is all well and good posting about how to complain about insolvency practitioners the fact is only creditors can make an official complaint not Third parties who have concerns.

2 hours ago, Phuket Ram said:

Really??  I can’t think of any way that could possibly happen, for many reasons.

Players become free agents - the last time I checked. Unless the EFL are engaged in modern day slavery…

Where did you get this information from? 

Mentioned here

   https://insolvencyservice.blog.gov.uk/2021/08/02/the-world-of-football-comes-to-the-insolvency-service/

2 hours ago, Tamworthram said:

2 hours ago, RoyMac5 said:

Except of course they know MA of old! The might wonder if CK will keep up payments.

Why would they wonder that,it seems they were happy with the deal CK had put to them. Yes they may well know of MA of old but this time they have already received an offer which they accepted,do they then have to accept a lower amount,no. They might be more worried of the deal would offer.

2 hours ago, TexasRam said:

Has Krichner? I have serious doubts, at least with the others (especially Clowes and Ashley) we know they have it. Personally I’d just deal with Ashley now and get it done and dusted. 

No matter how many times people keep saying it,it is not just simple to do a deal with Ashley,unless of course he is prepared to agree to the deal CK agreed to.

2 hours ago, TomG said:

He may have a point, are we getting value for money?

WE are getting nothing, it is irrelevant to us how much the administrators are charging,we are not involved in the process.

34 minutes ago, TomG said:

Does anyone know exactly how much MA is offering, not guessing or estimating, exactly? No, me neither!

I wasn't referring to how much he was offering it was in relation to him saying he wouldn't pay the full amount accrued by the administrators.