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The Administration Thread


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37 minutes ago, Eatonram said:

As Boro and Wickham realise, it costs and risks nothing to lodge a "claim" with the EFL. It would really apply pressure IMO if we lodged a claim for £51m against QPR. It would be obvious how we have reached the figure, everyone would draw the same conclusion, that there will be a chain reaction if the Parasite claims are successful. What do we have to lose at this stage?

This should be the best tactic as an insurance although I read there is a limitation period of 6 years in English law unfortunately so I doubt it’s possible. 

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https://www.derbytelegraph.co.uk/sport/football/football-news/Derby-county-pride-park-quantuma-6514394?utm_source=derbyshire_live_newsletter&utm_campaign=welcome_dcfc_newsletter2&utm_medium=email

Maguire is correct about ...

Charged property: non-floating charge

[F171(1)The court may by order enable the administrator of a company to dispose of property which is subject to a security (other than a floating charge) as if it were not subject to the security.

(2)An order under sub-paragraph (1) may be made only—

(a)on the application of the administrator, and

(b)where the court thinks that disposal of the property would be likely to promote the purpose of administration in respect of the company.

(3)An order under this paragraph is subject to the condition that there be applied towards discharging the sums secured by the security—

(a)the net proceeds of disposal of the property, and

(b)any additional money required to be added to the net proceeds so as to produce the amount determined by the court as the net amount which would be realised on a sale of the property at market value.

(4)If an order under this paragraph relates to more than one security, application of money under sub-paragraph (3) shall be in the order of the priorities of the securities.

(5)An administrator who makes a successful application for an order under this paragraph shall send a copy of the order to the registrar of companies before the end of the period of 14 days starting with the date of the order.

(6)An administrator commits an offence if he fails to comply with sub-paragraph (5) without reasonable excuse.]

 

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2 minutes ago, Oldben said:

https://www.derbytelegraph.co.uk/sport/football/football-news/Derby-county-pride-park-quantuma-6514394?utm_source=derbyshire_live_newsletter&utm_campaign=welcome_dcfc_newsletter2&utm_medium=email

Maguire is correct about ...

Charged property: non-floating charge

[F171(1)The court may by order enable the administrator of a company to dispose of property which is subject to a security (other than a floating charge) as if it were not subject to the security.

(2)An order under sub-paragraph (1) may be made only—

(a)on the application of the administrator, and

(b)where the court thinks that disposal of the property would be likely to promote the purpose of administration in respect of the company.

(3)An order under this paragraph is subject to the condition that there be applied towards discharging the sums secured by the security—

(a)the net proceeds of disposal of the property, and

(b)any additional money required to be added to the net proceeds so as to produce the amount determined by the court as the net amount which would be realised on a sale of the property at market value.

(4)If an order under this paragraph relates to more than one security, application of money under sub-paragraph (3) shall be in the order of the priorities of the securities.

(5)An administrator who makes a successful application for an order under this paragraph shall send a copy of the order to the registrar of companies before the end of the period of 14 days starting with the date of the order.

(6)An administrator commits an offence if he fails to comply with sub-paragraph (5) without reasonable excuse.]

 

Am I missing something? Is the Gellaw company that owns PPS insolvent? If not how can it go into administration?

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1 minute ago, PistoldPete said:

Am I missing something? Is the Gellaw company that owns PPS insolvent? If not how can it go into administration?

To me, that looks like it's dealing with the case where the stadium was owned by the club (or at least the same ownership group). I'm not sure it deal with seizing property from unrelated companies.

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Ok after many many minutes trying to decipher Ed Dawes cryptic speal, I've worked it out, It's just that the "R" on his key board is playing up, This is what he means.

 

 

 

 

 

 

 

 

 

 

 

 

 

image.png

Edited by Unlucky Alf
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1 hour ago, Stive Pesley said:

Isn't a compromise/pay-off what Boro/Wycombe wanted all along? They both knew full well that their claims wouldn't stand up to scrutiny, but tyhey knew that us being in Admin would paint us in to a corner and be forced to pay them off to drop the claims

 

Extortion 

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6 minutes ago, duncanjwitham said:

To me, that looks like it's dealing with the case where the stadium was owned by the club (or at least the same ownership group). I'm not sure it deal with seizing property from unrelated companies.

Exactly . Maguire seems to have his knickers in a twist.

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31 minutes ago, Indy said:

That does sound like comms speak for Radio Derby putting a bid in to interview Quantuma. 

It’s not even comes speak.

No one puts “a bid in” to speak to someone. You ask for a comment, request a statement, or, at the very extreme, make an application for a meeting.

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14 minutes ago, Tamworthram said:

It’s not even comes speak.

No one puts “a bid in” to speak to someone. You ask for a comment, request a statement, or, at the very extreme, make an application for a meeting.

My 25 years of working in comms says different. It’s PR/press jargon and confusing - especially in the context of us talking about other bids!

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4 hours ago, G STAR RAM said:

There's not really much to disagree about what they say is there?

This debt has come about by a multi millionaire, paying other millionaires salaries, and the people that will pick up the tab is the taxpayer.

We look at it through Derby tinted glasses but if it was another club I'd think exactly the same as this person.

Of course, i don't want to see us liquidated but if we do find any new owners, and they buy the club under the agreement of paying the creditors a single penny less than what they are due, our club will be tainted.

Lets be honest.  That's not why he did this and how many individuals avoid tax by living abroad or calling themselves a brand. It's not ideal but having Derby County existing does more for the treasury long term than a celebrity paying tax abroad and coming back to the UK   for 90 days.

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4 hours ago, YouRams said:

I’ve always thought it’s backwards how business owners not just in football can leave businesses in admin or just fold them and walk away owing people thousands/millions. Then a lot have the cheek to start another business in a different name and can carry on as normal, not even bothered about the people they’ve left in the ****. Clearly MM is one of those, if he had any decency he’d clear HIS debts even if that meant selling his own assets. 

Yep disgusting, had a builder many years ago pull that stroke with me and a lot of subbies on some jobs , was a scam , he had loads of money , big house, flash cars , he told me it was a limited company tough , I told him he agreed the price personally with me and job was spot on,

was much younger then and after a few wrangles he paid me, it could have gone badly but principle s is principal s ?‍♂️,

I know the carpenter was done for 30 k and went bust poor sod

 

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