The Administration Thread

[Mr. P]

[JuanFloEvraTheCocu'sNesta]

3 minutes ago, tombomb said:

If they sell season tickets for next season as was suggested on radio Derby would that not help to bring in a 3 or 4 million to bank roll the team until a new owner is found? 

Maybe, but I guess its also 3 or 4 million less revenue the new owner can factor in to their calculations for next season.

[Gee SCREAMER !!]

31 minutes ago, YouRams said:

Should WR be doing more off the field with these interviews? If he came out and said its disgusting how were being treated by the EFL with his stature people would start listening and more could potentially be done to resolve it.

Yes, he'd get a fine and a ban but well worth it.  

[PistoldPete]

3 minutes ago, Rammy03 said:

Nobody knows. The administrators should just say exactly whats going on. The only way this gets solved from what I can see is if the EFL change their stance or one of the bidders just takes on the risk. Otherwise I dont see how we get out of this, selling assets is not going to see us through. But its a ridiculous situation, we have credible parties that want the club. We should be allowed to get it done.

I think the admin have said what is going on. They cannot start getting a voluntary agreement with creditors until there is agreement with EFL on how Boro and Wycombe claims should be treated in the necessary creditors vote. It's not about who pays for the claims if they win.. that will be the new owners liability if it happens.

But in any creditors vote each creditor has a weight according to the amount of money owed to them.  So admin team has to assess that. It will be very low weight given to Boro and Wycombe claims I guess because admin team has said the claims are of no merit and they are not football creditors anyway. 

For some reason EFL do not agree with admin teams assessment. Ultimately EFL has to approve the transfer to new owners , and if they do not accept the validity of the creditor vote then we are at loggerheads.  In the meantime they are trying to bully us with threats, deliberately co-inciding with the end of January transfer window. 
. 

[PistoldPete]

Just now, Gee SCREAMER !! said:

Yes, he'd get a fine and a ban but well worth it.  

I think he can afford the fine.  

[StarterForTen]

17 minutes ago, Unlucky Alf said:

Other than a monetary fine there's nowt else that could be done, I'd love it for him to lambast those at the EFL, I just don't see it happening, Maybe Kim Jong Un could aim a rocket at a place in Bolton

Bit harsh on Bolton. EFL based in Preston. 

[Ram-Alf]

Just now, StarterForTen said:

Bit harsh on Bolton. EFL based in Preston. 

Bugger

[JfR]

14 minutes ago, tombomb said:

If they sell season tickets for next season as was suggested on radio Derby would that not help to bring in a 3 or 4 million to bank roll the team until a new owner is found? 

I'd imagine there'd be issues in selling tickets for next season, as, at this point, it's not 100% clear if we'll be playing next season (God, that hurts to type), so it would be selling a product that Derby can't guarantee will be provided.

[tombomb]

2 minutes ago, JfR said:

I'd imagine there'd be issues in selling tickets for next season, as, at this point, it's not 100% clear if we'll be playing next season (God, that hurts to type), so it would be selling a product that Derby can't guarantee will be provided.

Good point. Just trying to think how we can help the club survive to the end of feb as currently its looking very bleak. 

[davenportram]

18 minutes ago, PistoldPete said:

I think the admin have said what is going on. They cannot start getting a voluntary agreement with creditors until there is agreement with EFL on how Boro and Wycombe claims should be treated in the necessary creditors vote. It's not about who pays for the claims if they win.. that will be the new owners liability if it happens.

But in any creditors vote each creditor has a weight according to the amount of money owed to them.  So admin team has to assess that. It will be very low weight given to Boro and Wycombe claims I guess because admin team has said the claims are of no merit and they are not football creditors anyway. 

For some reason EFL do not agree with admin teams assessment. Ultimately EFL has to approve the transfer to new owners , and if they do not accept the validity of the creditor vote then we are at loggerheads.  In the meantime they are trying to bully us with threats, deliberately co-inciding with the end of January transfer window. 
. 

There was once a club that came out of administration without a CVA - the league gave them a 20 point deduction for doing so. The league hasn’t changed much since they tried to put Luton out of business.

[Barney1991]

I see Everton sacking Benitez and coming for Rooney after the job he’s doing. It would be a Derby way for sure 

[tombomb]

6 minutes ago, Barney1991 said:

I see Everton sacking Benitez and coming for Rooney after the job he’s doing. It would be a Derby way for sure 

We need to get money in in any way possible at this stage. Rooney has been brilliant for us but its all about surviving until the next month at the moment.  

Edited January 15, 2022 by tombomb

[CBRammette]

Thanks for all the nice reaction to me pouring my heart out a little at full-time. Very emotional at the mo. Not my intention but the number of likes has made me think is this one way to publicise this and make EFL, Gibson and the totally no-idea who he is American one look like poo to start some sort of recurring thread/twitter feed from one of the fans groups or radio Derby or telegraph highlighting the human stories going on behind this and what it means to people that non-club fans will relate to? I am sure there are lots around with memories of friend, family etc linked to Derby or difficulties meaning Derby gets them through life? Are such stories more likely to be picked up to spread the word? I dont mean people having to put photos real names etc and personal stuff to their name but just a stream of what Derby means to me type stuff? Or am I just a soppy female going through a bad time of it at the same time as this crap? Just think it may be different angle?

[Barney1991]

Has anyone thought it would be a good idea to set up a crowdfunding to raise funds to see us through the season. If we can get it to people like Niall Hiram and other big stars to share on there platforms of millions of followers. Imagine what a quid from followers of these stars. Just a thought 

[Thameram]

If you were a true fan with the club running through your veins and were a multi millionaire you would lend them the money,no give them the money to easily survive until a decent buyer could be found, your club is family and most decent people would do anything to help there family

[RadioactiveWaste]

Off the bottom of the table after 21 deducted.

Each little step.

Positive points

Above 11 points

Off the bottom

Distance to safety reduced

Against the gloom we have to square it against what the team are doing in response.

 

[RoyMac5]

50 minutes ago, Rammy03 said:

Nobody knows. The administrators should just say exactly whats going on. The only way this gets solved from what I can see is if the EFL change their stance or one of the bidders just takes on the risk. Otherwise I dont see how we get out of this, selling assets is not going to see us through. But its a ridiculous situation, we have credible parties that want the club. We should be allowed to get it done.

Admin seemed certain they'd get proof of funds for the Club to the end of the season?

[RAMS1992]

Just now, RoyMac5 said:

Admin seemed certain they'd get proof of funds for the Club to the end of the season?

Is this going to be through a fire sale though?

[Ramtastic ones]

45 minutes ago, PistoldPete said:

I think the admin have said what is going on. They cannot start getting a voluntary agreement with creditors until there is agreement with EFL on how Boro and Wycombe claims should be treated in the necessary creditors vote. It's not about who pays for the claims if they win.. that will be the new owners liability if it happens.

But in any creditors vote each creditor has a weight according to the amount of money owed to them.  So admin team has to assess that. It will be very low weight given to Boro and Wycombe claims I guess because admin team has said the claims are of no merit and they are not football creditors anyway. 

For some reason EFL do not agree with admin teams assessment. Ultimately EFL has to approve the transfer to new owners , and if they do not accept the validity of the creditor vote then we are at loggerheads.  In the meantime they are trying to bully us with threats, deliberately co-inciding with the end of January transfer window. 
. 

Isn't the point being missed here. Neither Boro or Wycombe are creditors. They have made a claim nothing more. And the fact remains you can't be sued whilst in administration, so under adminstrative law, which takes president over the rules of two bob football league governing body, the Boro and Wycombe claims can't proceed until we are out of administration. The EFL are breaking the law by impeding the administrators.

Edited January 15, 2022 by Ramtastic ones
Missed text

[kevinhectoring]

23 minutes ago, PistoldPete said:

I think the admin have said what is going on. They cannot start getting a voluntary agreement with creditors until there is agreement with EFL on how Boro and Wycombe claims should be treated in the necessary creditors vote. It's not about who pays for the claims if they win.. that will be the new owners liability if it happens.

But in any creditors vote each creditor has a weight according to the amount of money owed to them.  So admin team has to assess that. It will be very low weight given to Boro and Wycombe claims I guess because admin team has said the claims are of no merit and they are not football creditors anyway. 

For some reason EFL do not agree with admin teams assessment. Ultimately EFL has to approve the transfer to new owners , and if they do not accept the validity of the creditor vote then we are at loggerheads.  In the meantime they are trying to bully us with threats, deliberately co-inciding with the end of January transfer window. 
. 

I’ve given my head a good old wobble Pistoldpete (as you recommended) but I’m still frowning as I read your jurisprudence. You are nimbly skating over some difficult ‘class issues’ for starters. 
 

Anyway the following extract from a terrafirma chambers article on schemes (easily found online) is interesting and I think sheds some light on the types of arrangements Q ought to have been thinking about, whilst they were instead spending their expensive time telling supporters everything was going to be fine.  Alerting @i-Ramand @RoyMac5to this as they have expressed interest in these difficult aspects of restructuring law and practice 

(2) IRC -v.- The Wimbledon Football Club Ltd [2004] BCC 638 was a highly unusual case in which, as part of the general rescue package for a football club which was a member of the Football League, a third party who purchased the club agreed to pay off the club's "football creditors" in full, because the Football League insisted on such a payment being made as a quid pro quo for its own co-operation in the rescue. As part of the package, the company went into a CVA under which preferential creditors (which in those days included the Revenue) would be paid 30 pence in the pound. The Revenue sought to have the CVA revoked or suspended on the ground that it was unfairly prejudicial to them, since the effect of the deal as a whole was that certain unsecured creditors (the football creditors) were to be paid in full whilst the preferential creditors received only a dividend. The Court of Appeal rejected the Revenue's claim, largely on the basis that the assets being used to pay the football creditors were those of the rescuer, not of the company.