Philmycock Posted January 14, 2022 Share Posted January 14, 2022 2 minutes ago, SBW said: Q's statement to me read as though they cannot 'crack on' as EFL won't let them name a preferred bidder (EFL have to approve the business plan?) until the Boro/Wycombe claims as resolved? Which is unlawful? RoyMac5 1 Link to comment Share on other sites More sharing options...
Ram-Alf Posted January 14, 2022 Share Posted January 14, 2022 3 minutes ago, PistoldPete said: Liquidation is not the end of the club, it would be the end of the Corporate entity that owns the club. . Anyway the statement tonight from the admin team does not suggest to me we are close to liquidation of the Company at least not an involuntary liquidation. We have three bidders and a clear legal opinion on a way forward. We are at loggerheads with the EFL which we have been in truth for two years now. They are clearly deceitful , incompetent and vindictive. But we will survive. We are Derby. This i'd like advice on, If we're liquidated on Monday, All our assets are sold to pay off creditors, Do we fold as a football club and hope to reform, Are the results expunged from the division, Or do we play with a team full of under 18s for the remainder of the season, Start next season on minus 15 points and hope to have a new owner in. Ken Tram 1 Link to comment Share on other sites More sharing options...
chipperram Posted January 14, 2022 Share Posted January 14, 2022 2 minutes ago, SBW said: Q's statement to me read as though they cannot 'crack on' as EFL won't let them name a preferred bidder (EFL have to approve the business plan?) until the Boro/Wycombe claims as resolved? If that is the case Quantama need to get a wiggle on, sorry if I missed that bit, otherwise we will be playing our under 18s from Feb onwards. Link to comment Share on other sites More sharing options...
SBW Posted January 14, 2022 Share Posted January 14, 2022 2 minutes ago, Philmycock said: Which is unlawful? I don't know. But I guess as it stands, they know Q are gonna struggle to be in a position to be fighting through court with the condition of the club/finances as it is. Link to comment Share on other sites More sharing options...
CornwallRam Posted January 14, 2022 Share Posted January 14, 2022 8 minutes ago, SBW said: So the realistic option, as it stands Settle with Boro/Wycombe, and in doing so, add them as 'footballing creditors' and as such they will be owed 100% and the new owner would be liable to those costs? That, or not pay the creditors as should be the case, but then lose 15 points next season? Outside of Boro/Wycombe backing down, or the EFL deciding all of a sudden a PB can be named without agreeing with Boro/Wycombe, I can't see an alternative? 15 points is the penalty for exiting administration and paying the unsecured creditors less than 25% upfront or 35% in installments. Not paying the football creditors 100% is expulsion from the EFL Ken Tram 1 Link to comment Share on other sites More sharing options...
Ramtastic ones Posted January 14, 2022 Share Posted January 14, 2022 8 minutes ago, SBW said: So the realistic option, as it stands Settle with Boro/Wycombe, and in doing so, add them as 'footballing creditors' and as such they will be owed 100% and the new owner would be liable to those costs? That, or not pay the creditors as should be the case, but then lose 15 points next season? Outside of Boro/Wycombe backing down, or the EFL deciding all of a sudden a PB can be named without agreeing with Boro/Wycombe, I can't see an alternative? I have to say, I don't get this. How can a sum of money relating to litigation, that has yet to start the legal process, never mind complete it, be deemed a debt. There is not even any certainty that the litigation will find in favour of the claimant. It simply beggars belief. Accordingly and in line with the law relating to administration and litigation cases against companies in administration, the EFL should totally disregard the Boro and Wycombe cases. Miggins 1 Link to comment Share on other sites More sharing options...
Ken Tram Posted January 14, 2022 Share Posted January 14, 2022 Has anyone estimated what settlements Middlesbrough and Wycombe are seeking, or what they could get? I would have thought that it was £nil - but maybe not. strawhillram 1 Link to comment Share on other sites More sharing options...
strawhillram Posted January 14, 2022 Share Posted January 14, 2022 2 minutes ago, CornwallRam said: 15 points is the penalty for exiting administration and paying the unsecured creditors less than 25% upfront or 35% in installments. Not paying the football creditors 100% is expulsion from the EFL I don’t really want to a member of the EFL, always be looking over our shoulder for trumped up charges to deprive us of any glimmer of success Link to comment Share on other sites More sharing options...
SBW Posted January 14, 2022 Share Posted January 14, 2022 2 minutes ago, Ramtastic ones said: I have to say, I don't get this. How can a sum of money relating to litigation, that has yet to start the legal process, never mind complete it, be deemed a debt. There is not even any certainty that the litigation will find in favour of the claimant. It simply beggars belief. Accordingly and in line with the law relating to administration and litigation cases against companies in administration, the EFL should totally disregard the Boro and Wycombe cases. I don't disagree. It's plain odd. But it looks like that is how they are playing it. Link to comment Share on other sites More sharing options...
SBW Posted January 14, 2022 Share Posted January 14, 2022 5 minutes ago, CornwallRam said: 15 points is the penalty for exiting administration and paying the unsecured creditors less than 25% upfront or 35% in installments. Not paying the football creditors 100% is expulsion from the EFL Well in the circumstances I refer to, then exchange not paying to paying the instalments. I'm just looking through what seem to be genuine options right now, based on how the EFL appear to be playing it. CornwallRam 1 Link to comment Share on other sites More sharing options...
RoyMac5 Posted January 14, 2022 Share Posted January 14, 2022 13 minutes ago, CornwallRam said: Because there are three sources of possible funding... I'd say they have a few days to get the EFL to change position. If not, liquidation is the best option for the creditors - especially whilst the transfer window is open. So which one of Quantuma are you? ? They got a loan before and they've said they're confident they'll get funding again. Link to comment Share on other sites More sharing options...
Leeds Ram Posted January 14, 2022 Share Posted January 14, 2022 15 minutes ago, PistoldPete said: Liquidation is not the end of the club, it would be the end of the Corporate entity that owns the club. . Anyway the statement tonight from the admin team does not suggest to me we are close to liquidation of the Company at least not an involuntary liquidation. We have three bidders and a clear legal opinion on a way forward. We are at loggerheads with the EFL which we have been in truth for two years now. They are clearly deceitful , incompetent and vindictive. But we will survive. We are Derby. The statement struck me as more desperate in terms of trying to get the EFL to the table than anything else if I'm honest. It's alright having 3 bids but if the EFL keep holding this up, the compensation claims keep hanging around and the combination of telling players they're free to go it strikes me as a pretty bleak picture in the immediate term. If we can't get the EFL to back off and those parasites to fu** off then we're surely in real trouble of not being able to continue as an entity? Ram-Alf 1 Link to comment Share on other sites More sharing options...
Ken Tram Posted January 14, 2022 Share Posted January 14, 2022 If we can survive 21 points, what do we care about another 15?! Link to comment Share on other sites More sharing options...
RoyMac5 Posted January 14, 2022 Share Posted January 14, 2022 12 minutes ago, Unlucky Alf said: This i'd like advice on, If we're liquidated on Monday, All our assets are sold to pay off creditors, Do we fold as a football club and hope to reform, Are the results expunged from the division, Or do we play with a team full of under 18s for the remainder of the season, Start next season on minus 15 points and hope to have a new owner in. Ask Bury! Link to comment Share on other sites More sharing options...
RoyMac5 Posted January 14, 2022 Share Posted January 14, 2022 1 minute ago, Leeds Ram said: The statement struck me as more desperate in terms of trying to get the EFL to the table than anything else if I'm honest. It's alright having 3 bids but if the EFL keep holding this up, the compensation claims keep hanging around and the combination of telling players they're free to go it strikes me as a pretty bleak picture in the immediate term. If we can't get the EFL to back off and those parasites to fu** off then we're surely in real trouble of not being able to continue as an entity? That's the EFL again not allowing contract renewals! Link to comment Share on other sites More sharing options...
Ken Tram Posted January 14, 2022 Share Posted January 14, 2022 The administrators seemed to take the line when they first took over of reducing uncertainty. For example, they accepted the points punishment. So, if there is a settlement to be made with Middlesbrough and Wycombe, I presume that they will find a settlement. Link to comment Share on other sites More sharing options...
Tombo Posted January 14, 2022 Share Posted January 14, 2022 By the way, Charlton also said they would mount a legal challenge against Sheffield Wednesday because their point deduction was done 2 years after their offence. If Wycombe want to play that game, we will just say "well if that deduction had happened in the 19-20 season, Charlton would have stayed up instead of Wednesday and in fact without the deduction, both us AND Wycombe would have gone down". It's ludicrous whichever way you look at it. If they believe the deduction should have been last season, presumably they feel Wednesday's deduction should have been the season before and therefore whatever the legal stance on this, they were always relegated. And they were relegated for being crap. They should sue their own players for not winning enough games. Ramifications, Albert, Crewton and 2 others 4 1 Link to comment Share on other sites More sharing options...
CornwallRam Posted January 14, 2022 Share Posted January 14, 2022 4 minutes ago, RoyMac5 said: So which one of Quantuma are you? ? They got a loan before and they've said they're confident they'll get funding again. That was before the EFL made naming a preferred bidder effectively impossible Link to comment Share on other sites More sharing options...
Leeds Ram Posted January 14, 2022 Share Posted January 14, 2022 3 minutes ago, RoyMac5 said: That's the EFL again not allowing contract renewals! Haven't there also been reports of the administrators telling players if they want to leave they can? certainly a different policy that was going on a few days ago. Link to comment Share on other sites More sharing options...
RoyMac5 Posted January 14, 2022 Share Posted January 14, 2022 1 minute ago, CornwallRam said: That was before the EFL made naming a preferred bidder effectively impossible No, read their latest statement from this evening. Link to comment Share on other sites More sharing options...
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