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The Administration Thread


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Just now, RammingStone66 said:

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???

Yeah, it may well be tactical.

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3 minutes ago, RadioactiveWaste said:

Apparently the"new" move from quantuma is basically a restructuring proposal, which has problematic elements (eg starting next season with points deducted, screws creditors even harder) but sidesteps some barriers and has the well, it beats liquidation, doesn't it logic.

It might resolve things, but isn't necessarily a good outcome for anyone (except mike Ashley perhaps)

 

I'd say the impasse is also that, to date, no interested party is willing to pay the £100M that is required to cover the "solution" that the EFL want. Some people, perhaps on both sides, need to take their heads out of their arses and start being pragmatic about a solution because, at the moment this is going nowhere but a liquidation where no-one gets their dues paid.

This reminds me of classic brinkmanship on all sides, with the fans and unsecured creditors being used as pawns by those with the power to sort it out if only their egos would allow it.

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20 minutes ago, Bald Eagle's Barmy Army said:

If I had to trust Quanatuma or the EFL - I know which side I'd be on.

The EFL haven't got a clue what they're doing and IMO have started digging themselves into a hole. Time to come down hard on them and no better accomplice than Mike Ashley. 

Who would you trust more ? An Efl board with Ridsdale on it? Who’s just come off a 7 year Directors ban? 

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18 minutes ago, RadioactiveWaste said:

Apparently the"new" move from quantuma is basically a restructuring proposal, which has problematic elements (eg starting next season with points deducted, screws creditors even harder) but sidesteps some barriers and has the well, it beats liquidation, doesn't it logic.

It might resolve things, but isn't necessarily a good outcome for anyone (except mike Ashley perhaps)

 

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.

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2 minutes ago, i-Ram said:

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.

So what do they mean 'it's the cause of the impasse'. Surely the cause is the EFL regs not being in line with the law?

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17 minutes ago, RadioactiveWaste said:

Apparently the"new" move from quantuma is basically a restructuring proposal, which has problematic elements (eg starting next season with points deducted, screws creditors even harder) but sidesteps some barriers and has the well, it beats liquidation, doesn't it logic.

It might resolve things, but isn't necessarily a good outcome for anyone (except mike Ashley perhaps)

 

Ian's right, it's been floating around a while but I think the subtle difference this time is that EFL regs don't seem to have been updated to reflect statute. If true, it might force EFL to change their stance. 

Could be one of the preferred bidders teams that's pulled that one out of the hat (likely Ashley's given that's his business model) and if so and we draw a link to the Nixon article about Ashley and Gibson meeting that could be more about ensuring no new action is brought.

Who knows - pure journalistic speculation as someone once said - but it is getting interesting now. Let's hope we move forward - it felt like a huge 72 hours from Friday and a significant momentum shift...

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4 minutes ago, RoyMac5 said:

So what do they mean 'it's the cause of the impasse'. Surely the cause is the EFL regs not being in line with the law?

Yes I am sure that what he means. Based on his recent blog, was it yesterday, I think he was saying that the EFL want them to go (or are insisting they go) the CVA route rather than the restructuring route, because the former would still protect the claims of Boro and Wycombe to be heard down the track. Whether they want that to support the parasites, or to cover the fact that their rules are not up to speed with current incolvency law I cant tell you, but the EFL appear to be pushing us away from a pathway that exists in statutory law.  

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1 hour ago, Sparkle said:

This whole two years has taught us that with the EFL that you are guilty of everything accused and suggested regardless of the law of the land and the wording in the so so called EFL rules and it’s regardless of when it was and what the EFL have previously passed judgement on - why do you think the EFL never wants to go the court of the land ! 

Fear of losing

I have a disslike of any organisations, FIFA, UEFA, CONCACAF, W.H.O. IOC, EFL Those that collect millions from their members or charities/Governments are open for abuse, Have been found guilty of wrong doings(queue joke about doings ?)And it's high time the EFL were stripped of their authority and replaced by an independant board.

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8 minutes ago, Dai Capp said:

Ian's right, it's been floating around a while but I think the subtle difference this time is that EFL regs don't seem to have been updated to reflect statute. If true, it might force EFL to change their stance. 

Could be one of the preferred bidders teams that's pulled that one out of the hat (likely Ashley's given that's his business model) and if so and we draw a link to the Nixon article about Ashley and Gibson meeting that could be more about ensuring no new action is brought.

Who knows - pure journalistic speculation as someone once said - but it is getting interesting now. Let's hope we move forward - it felt like a huge 72 hours from Friday and a significant momentum shift...

So efl amend their rules and then Gibson puts in a new claim !

Any claim should only be applicable  at the time of the old efl rules , which means it was invalid

Edited by StrawHillRam
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10 minutes ago, SamUltraRam said:

Just out of interest, are the administrators working full time at Derby County and nowhere else or are we paying them bucketloads to work on us whilst they also work on other 'clients' ?

Part time - I saw Carl working the drive-thru at Costa on the Wyvern. 

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7 minutes ago, StrawHillRam said:

So efl amend their rules and then Gibson puts in a new claim !

Any claim should only be applicable  at the time of the old efl rules , which means it was invalid

Agreed - and I suspect that's what Ashley will be talking to Gibson about. That's assuming there is a meeting happening and it's not made up by Nixon...

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6 minutes ago, i-Ram said:

Yes I am sure that what he means. Based on his recent blog, was it yesterday, I think he was saying that the EFL want them to go (or are insisting they go) the CVA route rather than the restructuring route, because the former would still protect the claims of Boro and Wycombe to be heard down the track. Whether they want that to support the parasites, or to cover the fact that their rules are not up to speed with current incolvency law I cant tell you, but the EFL appear to be pushing us away from a pathway that exists in statutory law.  

I agree and that's the crux.  It's the law of the land and as such the EFL must, in my view be compliant.  If I read this all right, they're not so should be held to account.  They can apply their own rules about how clubs are run etc, (to a degree of course but that's a whole different topic re victimisation, inconsistency, independent regulation etc) but where their rules / processes breach UK law then they must be pulled up for it.  No organisation should be above the law. If you don't comply with law, then you get fined or have any license to operate revoked. 

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