Derby County Administration (with the slight possibility of Liquidation still there)

[Leeds Ram]

4 hours ago, PistoldPete said:

The guy who took over Sunderland had been involved with them for some time so their position was sorted over a long period , but to start with they were in a far worse mess than us.  

In the takeover when they took over from Ellis they were but I believe in the takeover more recently they had already largely sorted the club out. Thus relating to the 25 million pound deal initially discussed as sunderland are in league 1 the club had largely been restructured and still owned its own stadium. 

[PistoldPete]

30 minutes ago, Leeds Ram said:

In the takeover when they took over from Ellis they were but I believe in the takeover more recently they had already largely sorted the club out. Thus relating to the 25 million pound deal initially discussed as sunderland are in league 1 the club had largely been restructured and still owned its own stadium. 

Not according to Companies House , the debt was not settled until their latest takeover. So the purchase price is net of the debts being settled.

[G STAR RAM]

10 hours ago, MackworthRamIsGod said:

Isn't it more a case that Mel didn't pay it?

Don't know about you, but I tend to pay bills as they are due, not when the electric company have threatened me with court and cutting off my supply 3 times.

Edit...I then read your post properly.

I guess MMs counter argument would be, would you still be paying your electricity bill on time if you lost your job and had no income?

I think the most annoying thing about this is that MM has said this is all purely down to Covid which lost us £20m income. Well if that's true why is he supposedly leaving us with £60m of debt and not £20m?

[kevinhectoring]

31 minutes ago, G STAR RAM said:

I guess MMs counter argument would be, would you still be paying your electricity bill on time if you lost your job and had no income?

I think the most annoying thing about this is that MM has said this is all purely down to Covid which lost us £20m income. Well if that's true why is he supposedly leaving us with £60m of debt and not £20m?

Do you think the hmrc debt might be in dispute and that’s why MM did not pay it ?And in order to force his hand hmrc served demand knowing what that would do to us v EFL. 
could only be the case if - as @jono suggested above - it’s not for ordinary course items 

[PistoldPete]

11 hours ago, MackworthRamIsGod said:

Isn't it more a case that Mel didn't pay it?

Don't know about you, but I tend to pay bills as they are due, not when the electric company have threatened me with court and cutting off my supply 3 times.

Edit...I then read your post properly.

Well suppose you were in debt.. many people are. So you decided to sell the house … you had an agreed sale and the buyer pulled out when you had already exchanged contracts. You had cancelled your direct debit with the electricity company only to find your buyer had reneged on the deal. 
 

To be honest even without debt you can get threatening letters from people including Hmrc claiming monies that aren’t actually due to them but based on estimated bills .

[Curtains]

9 hours ago, Kingpin said:

Guessing again. But slivers of it are worrying. ?

The HMRC debt is very worrying 

[Taribo]

Arsenal have inserted a 1838573726483672% apr clause into the remaining transfer fee

[Ram-Alf]

1 hour ago, PistoldPete said:

Well suppose you were in debt.. many people are. So you decided to sell the house … you had an agreed sale and the buyer pulled out when you had already exchanged contracts. You had cancelled your direct debit with the electricity company only to find your buyer had reneged on the deal. 
 

To be honest even without debt you can get threatening letters from people including Hmrc claiming monies that aren’t actually due to them but based on estimated bills .

Once contracts have been exchanged and the purchaser pulls out...then they're in breach of contract and can be sued in a court of Law.

I've been chased for the last 5 months for my deceased Brothers tax laibilities, The last one last month was for late filing of self assesment...£1,200 after i'd filled all relevent forms in, This one pi**ed me off, I was on the phone to a Tax adviser at HMRC who once he'd put in all the details of information i'd sent...he came to the conclusion that my Brother hadn't earned enough in the last 3 years to pay Tax, The Bill which is sent by automated printing in Northern Island doesn't get this information it just regergitates bills until a human being makes a decision...now here's the Rub...HMRC actually owe me £27.00 and I have the paperwork which was sent to me last week.

Dealing with HMRC is a God Damn Nighmare.

[Woodley Ram]

2 hours ago, G STAR RAM said:

I guess MMs counter argument would be, would you still be paying your electricity bill on time if you lost your job and had no income?

I think the most annoying thing about this is that MM has said this is all purely down to Covid which lost us £20m income. Well if that's true why is he supposedly leaving us with £60m of debt and not £20m?

he is on about the inability to service the debt due to the loss of operating income (Covid), that said why let the debt get to those figures in the first place 

[RoyMac5]

What does the last bit of the tweet mean?

[Crewton]

5 minutes ago, RoyMac5 said:

What does the last bit of the tweet mean?

It means they get their money before anyone else, including "football creditors". 

[atherstoneram]

That will make the club harder to sell.

 

[Reggie Greenwood]

1 minute ago, atherstoneram said:

That will make the club harder to sell.

 

Maybe not to sell to MSD 

[PistoldPete]

25 minutes ago, Unlucky Alf said:

Once contracts have been exchanged and the purchaser pulls out...then they're in breach of contract and can be sued in a court of Law.

I've been chased for the last 5 months for my deceased Brothers tax laibilities, The last one last month was for late filing of self assesment...£1,200 after i'd filled all relevent forms in, This one pi**ed me off, I was on the phone to a Tax adviser at HMRC who once he'd put in all the details of information i'd sent...he came to the conclusion that my Brother hadn't earned enough in the last 3 years to pay Tax, The Bill which is sent by automated printing in Northern Island doesn't get this information it just regergitates bills until a human being makes a decision...now here's the Rub...HMRC actually owe me £27.00 and I have the paperwork which was sent to me last week.

Dealing with HMRC is a God Damn Nighmare.

In mel’s case he can try suing the fake sheikh but I wouldn’t fancy his chances of getting any money. 

[PistoldPete]

11 minutes ago, Crewton said:

It means they get their money before anyone else, including "football creditors". 

Well this was one of my criticisms of the Daily Mail article which said Cocu was a secured creditor . I am sure he isn’t , but Msd certainly are.

[atherstoneram]

4 minutes ago, Reggie Greenwood said:

Maybe not to sell to MSD 

There is still the outstanding amount owing to HMRC, would MSD be willing to settle that.

[Crewton]

10 minutes ago, atherstoneram said:

That will make the club harder to sell.

 

Not necessarily. It puts them in the driving seat in determining whether the club gets sold or liquidated but they're probably much more pragmatic than a bank, or even HMRC might be. - they're gamblers after all. I think it might even deter other creditors from pushing for liquidation, because it makes it more likely that others won't recover anything from the wreckage. 

Edited October 6, 2021 by Crewton

[Reggie Greenwood]

10 minutes ago, atherstoneram said:

There is still the outstanding amount owing to HMRC, would MSD be willing to settle that.

Not a question that I could answer ?

[PistoldPete]

32 minutes ago, atherstoneram said:

That will make the club harder to sell.

 

No, it means that unsecured creditors will probably have to take a haircut. It also means that Msd who have charges over PPS freehold will be central to a deal , as most likely will the stadium itself. 

[PistoldPete]

1 hour ago, Curtains said:

The HMRC debt is very worrying 

It could be curtains.