The Administration Thread

[RoyMac5]

1 minute ago, Eddie said:

So on the one hand, the Administrators are saying "We were going to name the Preferred Bidder but the EFL won't allow us to", and on the other hand, the EFL have told Andrew Bridgen (and others) that... "the Administrators haven't named a Preferred Bidder".

Which one is closer to the truth, because at the moment, I don't believe anybody any more.

From the BBC (so well you know take it how you will ? )

"Derby County's administrators Quantuma said efforts to secure a buyer were being hampered by outstanding legal cases involving Middlesbrough and Wycombe Wanderers.

Both clubs are unhappy at the impact of Derby County's financial dealings on their own league placings in recent seasons.

Quantama said the two preferred bidders were not willing to put their money into the club until there was clarity over whether compensation would need to be paid."

[Duracell]

2 minutes ago, JuanFloEvraTheCocu'sNesta said:

Part of me still thinks Ashley will end up in charge, but he's not hit his disaster capitalism threshold yet. When it does he'll kick in to gear and come waddling in to the process and buy the skeleton that remains.

Man, it’s so grim that this is almost definitely the best possible outcome.

 

[SBW]

9 minutes ago, RoyMac5 said:

Errr they can't get a preferred bidder to commit because of the Boro and Wycombe claims. That is the whole point of the problem. ?

So, they haven't got a preferred bidder, and they aren't solving the issues.

Imagine if back when they were initially appointed they tackled these issues head on, which they were aware of and were obviously entirely dismissive of (they allegedly told the EFL they've spoken to lawyers and were told not to worry about it, which obviously wouldn't stand up with the EFL) instead of sitting with their thumbs up their arses?  It might have already been resolved.  Then the alleged preferred bidder waiting in the wings would be free to swoop in and save the day.

 

They haven't sought to cut costs that can make an impact, or locate funds to see the season on (other than get a short term loan which will have outrageous interest) they've not located a bonafide preferred bidder and they've arrogantly ignored an issue which needs resolving cos they thought it wouldn't be an issue.  

 

They've been dire.  They've just kicked the can down the road, thinking it would just fall into place.  How wrong they were, and now here we are.  Shambolic. 

[IslandExile]

2 minutes ago, RoyMac5 said:

From the BBC (so well you know take it how you will ? )

"Derby County's administrators Quantuma said efforts to secure a buyer were being hampered by outstanding legal cases involving Middlesbrough and Wycombe Wanderers.

Both clubs are unhappy at the impact of Derby County's financial dealings on their own league placings in recent seasons.

Quantama said the two preferred bidders were not willing to put their money into the club until there was clarity over whether compensation would need to be paid."

And, presumably, that would still be the case even if we find the money behind the sofa to get to the end of the season.

[strawhillram]

4 minutes ago, JuanFloEvraTheCocu'sNesta said:

Part of me still thinks Ashley will end up in charge, but he's not hit his disaster capitalism threshold yet. When it does he'll kick in to gear and come waddling in to the process and buy the skeleton that remains.

If he leaves it until we have sold our best players he will  have no support from me

[RoyMac5]

1 minute ago, SBW said:

So, they haven't got a preferred bidder, and they aren't solving the issues.

No.

They have a preferred bidder but they won't be allowed to name them until the claims are dealt with. They were ready to name the PB to the EFL on Friday.

"Derby County's administrators Quantuma said efforts to secure a buyer were being hampered by outstanding legal cases involving Middlesbrough and Wycombe Wanderers.

Both clubs are unhappy at the impact of Derby County's financial dealings on their own league placings in recent seasons.

Quantama said the two preferred bidders were not willing to put their money into the club until there was clarity over whether compensation would need to be paid."

https://www.bbc.co.uk/news/uk-england-derbyshire-60027177

[Indy]

5 minutes ago, SBW said:

So, they haven't got a preferred bidder, and they aren't solving the issues.

Imagine if back when they were initially appointed they tackled these issues head on, which they were aware of and were obviously entirely dismissive of (they allegedly told the EFL they've spoken to lawyers and were told not to worry about it, which obviously wouldn't stand up with the EFL) instead of sitting with their thumbs up their arses?  It might have already been resolved.  Then the alleged preferred bidder waiting in the wings would be free to swoop in and save the day.

 

They haven't sought to cut costs that can make an impact, or locate funds to see the season on (other than get a short term loan which will have outrageous interest) they've not located a bonafide preferred bidder and they've arrogantly ignored an issue which needs resolving cos they thought it wouldn't be an issue.  

 

They've been dire.  They've just kicked the can down the road, thinking it would just fall into place.  How wrong they were, and now here we are.  Shambolic. 

If the legal advice was that the spurious claims must not be included in the insolvency calculations (because to include them would reduce the funds available for legitimate creditors) then what do you expect them to do? Break insolvency law to satisfy a couple of chancers?

 

They didn’t include boro or wycombe on the list of creditors in November, so it was clear that this was the stance - so why did EFL wait until the day we were going to name the preferred bidder (last week) before saying this is a sticking point? Because the uncertainty itself sticks enough of a spanner in the works to weaken our team and try and engineer a relegation or worse. 

Edited January 17, 2022 by Indy

[Jimbo Ram]

4 minutes ago, Alty_Ram said:

Sigh... yes we know what the EFLs stated issue is. It's the small matter of it being a load of nonsense. Even leaving aside the sheer cynical mischief making nature of these claims, if our team was so amazing then why didn't we win the playoffs ? How can they claim that they are owed money for this ? Based on League position over a whole season they were a worse team than us so on what grounds can they possibly reasonably claim that they would have won it ? That surely would be laughed out of court. At absolute best they could make a case for receipts from the home leg of the playoff semi.

The whole 'can of worms' nature of this just makes me think that the EFL knows that (at least in current form) it's days are numbered and they won't have to clean up the absolute mess that they are making by encouraging spurious claims and counter claims for any indiscretion amongst the league pyramid. The EFL decision and penalty was supposed to draw a line under things. This other stuff is all just bonkers.

Just ask them what the precedent is for this decision as there isn’t one…

[RoyMac5]

5 minutes ago, IslandExile said:

And, presumably, that would still be the case even if we find the money behind the sofa to get to the end of the season.

But gives us longer to pressure a resolution. It's took 4 months to get to this point! 

[SSD]

MPs believing the EFL BS..... well I never

[angieram]

Some MPs are meeting with the administrators tomorrow so they will hear their side of the argument then.

I'd personally like to see the administrators and EFL being questioned at the same time so that they could challenge each other's spin. 

I have suggested this to RT, who have suddenly now been asked to meet with the EFL again.

The MPs won't know everything about the case but they are raising awareness and getting things moving.

 

[Zag zig]

This is better, getting to the root of the stalemate if Quantama do press for a legal injunction 

https://www.bbc.co.uk/sport/football/60031718 

It will focus the political minds looking in.

[IslandExile]

Just now, angieram said:

Some MPs are meeting with the administrators tomorrow so they will hear their side of the argument then.

I'd personally like to see the administrators and EFL being questioned at the same time so that they could challenge each other's spin. 

I have suggested this to RT, who have suddenly now been asked to meet with the EFL again.

The MPs won't know everything about the case but they are raising awareness and getting things moving.

 

Agree @angieram. This will only get sorted by everyone sitting around the same table and talking through it. That includes Gibson.

[Gisby]

12 minutes ago, JuanFloEvraTheCocu'sNesta said:

Part of me still thinks Ashley will end up in charge, but he's not hit his disaster capitalism threshold yet. When it does he'll kick in to gear and come waddling in to the process and buy the skeleton that remains.

Brinkmanship from all concerned going on here!!! Tend to agree with you. Don’t believe we’ll be liquidated but this has all the signs of going to the wire. A Webb\Maxwell scenario, saved at 5 mins to midnight. What carnage will ensue in the meantime is anybody's guess. It’s going to get ugly & fraught for the likes of us innocent supporters I fear. ??

[SBW]

3 minutes ago, Indy said:

If the legal advice was that the spurious claims must not be included in the insolvency calculations (because to include them would reduce the funds available for legitimate creditors) then what do you expect them to do? Break insolvency law to satisfy a couple of chancers?

 

They didn’t include boro or wycombe on the list of creditors in November, so it was clear that this was the stance - so why did EFL wait until the day we were going to name the preferred bidder (last week) before saying this is a sticking point? Because the uncertainty itself sticks enough of a spanner in the works to weaken our team and try and engineer a relegation or worse. 

You're acting as though listing creditors was the only action to take?  When the creditors were listed and the monies owed, was that it? Would the creditors debts not increase? Would not creditors not appear? How else have the club been paying for the Police, Fire Service and many other services?  That was not a finite event.

 

If you're looking to find a buyer, and there are two clubs seeking to take action against you, making it abundantly clear that they will do so.  It is naive at the least, more so ignorant and even arrogant to dismiss it.  

 

I'm not buying that when Q rocked up to the EFL with their plans to fund the remainder of the season, it was the very first opportunity to discuss Boro/Wycombe and the impact they have.  

 

Q took legal advice that their claims weren't an issue it is said.  Brilliant.  Cos legal advice is final, right?  No.  It's advice.

 

It's turned out to be a gigantic error to be so dismissive of their claims.  

[IslandExile]

2 minutes ago, Zag zig said:

This is better, getting to the root of the stalemate if Quantama do press for a legal injunction 

https://www.bbc.co.uk/sport/football/60031718 

It will focus the political minds looking in.

[SBW]

14 minutes ago, RoyMac5 said:

No.

They have a preferred bidder but they won't be allowed to name them until the claims are dealt with. They were ready to name the PB to the EFL on Friday.

"Derby County's administrators Quantuma said efforts to secure a buyer were being hampered by outstanding legal cases involving Middlesbrough and Wycombe Wanderers.

Both clubs are unhappy at the impact of Derby County's financial dealings on their own league placings in recent seasons.

Quantama said the two preferred bidders were not willing to put their money into the club until there was clarity over whether compensation would need to be paid."

https://www.bbc.co.uk/news/uk-england-derbyshire-60027177

So, they haven't.

 

As I said, if they'd sought to deal with the issues that were present when they took over the Admin duties, they might be further down the line.  Their poor actions have led to the situation as it is.  

[PistoldPete]

9 minutes ago, Indy said:

If the legal advice was that the spurious claims must not be included in the insolvency calculations (because to include them would reduce the funds available for legitimate creditors) then what do you expect them to do? Break insolvency law to satisfy a couple of chancers?

 

They didn’t include boro or wycombe on the list of creditors in November, so it was clear that this was the stance - so why did EFL wait until the day we were going to name the preferred bidder (last week) before saying this is a sticking point? Because the uncertainty itself sticks enough of a spanner in the works to weaken our team and try and engineer a relegation or worse. 

If no bidder is willing to pay the Boro or Wycombe claims then  the money would have to come from other money that would otherwise go to other creditors. And that would be against the law. Which is what Quantuma has said. They cannot settle the claims without breaking the law.  

[Dai Capp]

6 minutes ago, angieram said:

Some MPs are meeting with the administrators tomorrow so they will hear their side of the argument then.

I'd personally like to see the administrators and EFL being questioned at the same time so that they could challenge each other's spin. 

I have suggested this to RT, who have suddenly now been asked to meet with the EFL again.

The MPs won't know everything about the case but they are raising awareness and getting things moving.

 

I just hope it's either the same MP's or they at least share notes. FWIW I think MP's bringing both together to get to the bottom of this would be perfect

[SBW]

7 minutes ago, Zag zig said:

This is better, getting to the root of the stalemate if Quantama do press for a legal injunction 

https://www.bbc.co.uk/sport/football/60031718 

It will focus the political minds looking in.

This is what I am referring to.  A positive move.

If they'd done their due diligence earlier, this could have been in motion MUCH sooner and as a result a PB have been announced, funds available to see out the season, no forced departures and if the purchase of the club a success, potentially even additions.

 

As it is, it's a bit frigging late in the date.  Of course, better later than never, but Q's inaction has caused more issues than solutions.