Andicis Posted January 19, 2022 Share Posted January 19, 2022 Just now, DarkFruitsRam7 said: I just think we're in pretty much the exact same position we were a week ago, or a month ago for that matter. Stalemate. The only difference now is that there's 1000x more public scrutiny on this issue, with plenty of external people questioning the EFL and pushing for us to be saved. The way I see it, that makes the EFL more likely to accept that those two clubs aren't football creditors. There is a reason for the EFL, Boro and Couhig making noise, they can see the way public opinion is going and would much rather this have been kept quiet. I think we're in a hugely better position. Bald Eagle's Barmy Army, strawhillram, Ramarena and 4 others 4 3 Link to comment Share on other sites More sharing options...
SamUltraRam Posted January 19, 2022 Share Posted January 19, 2022 Just remind me someone, how does it change things if MFC & WWFC aren't football creditors ? Link to comment Share on other sites More sharing options...
Norman Posted January 19, 2022 Share Posted January 19, 2022 I'm not sure why people think the latest from that meeting is bad. On Monday, I don't think our MPs, other club's fans, the media, or the Sports Minister knew the underhanded nature of the EFL. I think 2 days later everyone knows the position and it makes the EFL look massively incompetent at best. I think the EFL have no choice but to back down and throw the claims out. I'm at the point where I feel confident about it. i-Ram, OohMartWright, Carnero and 7 others 8 2 Link to comment Share on other sites More sharing options...
RadioactiveWaste Posted January 19, 2022 Share Posted January 19, 2022 2 minutes ago, StarterForTen said: Another interpretation of that thread suggests the Admins are preparing the ground to take the claims out of the equation with a Cross Class Cram Down action. To get one, a court has to believe that no party to the action is worse off than any other possible outcome - and it looks like the Admins are clearly illustrating that the alternative is liquidation and virtually nothing for all creditors. A CCCD that offers to pay 100% to all current football debts and secured creditors; 25% to to other recognised creditors and strikes out the claims as non creditors would allow the Club to have a clear path forward and would fit into current EFL insolvency exit rules. If the EFL attempted to block the transfer over the golden share to the new owners over the treatment of the MFC and WWFC claims they would be in breach of their own Articles and be in the firing line for a legal challenge. Big stakes. If that move fails it's liquidation. If it succeeds it's very likely to have league consequences. Link to comment Share on other sites More sharing options...
DarkFruitsRam7 Posted January 19, 2022 Share Posted January 19, 2022 1 minute ago, Animal is a Ram said: If they rule 'in favour' of those two, we're finished. Nobody will taken on that risk. Or one of the bidders will decide to stump up some extra cash and pay Boro and Wycombe something to make it go away. Unpalatable, but better than the alternative. Caerphilly Ram 1 Link to comment Share on other sites More sharing options...
Animal is a Ram Posted January 19, 2022 Share Posted January 19, 2022 2 minutes ago, Animal is a Ram said: As I understand it - this hasn't just been prepared for, it was actively proposed, but shut down due to the EFL not ruling on whether the claims by MFC and WWFC are football debts or not. If they rule 'in favour' of those two, we're finished. Nobody will taken on that risk. If they rule 'in favour' of DCFC, we're saved, but at the anger of MFC and WWFC who would, given their seemingly nuclear stance, probably attack the EFL and then the new owners again for good measure. 1 minute ago, SamUltraRam said: Just remind me someone, how does it change things if MFC & WWFC aren't football creditors ? See my post - I imagine you posted seconds after I had ? SamUltraRam 1 Link to comment Share on other sites More sharing options...
Caerphilly Ram Posted January 19, 2022 Share Posted January 19, 2022 1 minute ago, SamUltraRam said: Just remind me someone, how does it change things if MFC & WWFC aren't football creditors ? We don’t have to pay them 100% of their claims on exit of administration. And I guess would then have to deal with them through arbitration/the courts SamUltraRam 1 Link to comment Share on other sites More sharing options...
HorsforthRam Posted January 19, 2022 Share Posted January 19, 2022 Shouldn’t we be asking the EFL what the “deal” is with MFC that prevents MFC suing them? deano180, Indy and Sparkle 3 Link to comment Share on other sites More sharing options...
Animal is a Ram Posted January 19, 2022 Share Posted January 19, 2022 1 minute ago, DarkFruitsRam7 said: Or one of the bidders will decide to stump up some extra cash and pay Boro and Wycombe something to make it go away. Unpalatable, but better than the alternative. Makes no financial sense. But one can hope - it was reported that Mike Ashley was going to see what Gibson would want, I think? Link to comment Share on other sites More sharing options...
duncanjwitham Posted January 19, 2022 Share Posted January 19, 2022 2 minutes ago, SamUltraRam said: Just remind me someone, how does it change things if MFC & WWFC aren't football creditors ? The admins kick off the exit plan they have. A preferred bidder is chosen, they put in enough funding to cover the rest of the season. The exit is sorted and signed off by creditors, We sell to that bidder, exit admin and carry on. Obviously there are a lot of potential hurdles in there, and no guarantees of anything. But it's a viable plan to recovery. Crewton and SamUltraRam 2 Link to comment Share on other sites More sharing options...
Animal is a Ram Posted January 19, 2022 Share Posted January 19, 2022 1 minute ago, HorsforthRam said: Shouldn’t we be asking the EFL what the “deal” is with MFC that prevents MFC suing them? We already know what that is. MFC changed their target as the EFL went after us. Link to comment Share on other sites More sharing options...
MK-Ram Posted January 19, 2022 Share Posted January 19, 2022 1 minute ago, HorsforthRam said: Shouldn’t we be asking the EFL what the “deal” is with MFC that prevents MFC suing them? And how saving their own ar*e isn't a conflict of interest. RadioactiveWaste, Crewton and Ram-Alf 1 2 Link to comment Share on other sites More sharing options...
Animal is a Ram Posted January 19, 2022 Share Posted January 19, 2022 Eddie, Caerphilly Ram, Indy and 11 others 14 Link to comment Share on other sites More sharing options...
Leeds Ram Posted January 19, 2022 Share Posted January 19, 2022 4 minutes ago, Norman said: I'm not sure why people think the latest from that meeting is bad. On Monday, I don't think our MPs, other club's fans, the media, or the Sports Minister knew the underhanded nature of the EFL. I think 2 days later everyone knows the position and it makes the EFL look massively incompetent at best. I think the EFL have no choice but to back down and throw the claims out. I'm at the point where I feel confident about it. The problem is they do have a choice... there has been absolutely nothing from the statements of any party including the EFL indicating they're ready to budge. Link to comment Share on other sites More sharing options...
Ewetube Posted January 19, 2022 Share Posted January 19, 2022 2 minutes ago, DarkFruitsRam7 said: On the face of it, we're in pretty much the exact same position we were a week ago, or a month ago for that matter. Stalemate. The only difference now is that there's 1000x more public scrutiny on this issue, with plenty of external people questioning the EFL and pushing for us to be saved. The way I see it, that makes the EFL more likely to accept that those two clubs aren't football creditors. I really hope this is the case. It's probably the EFL's record of helping clubs in trouble that's adding to my pessimism. Hopefully they're made to change their ways on this occasion. DarkFruitsRam7 and Crewton 1 1 Link to comment Share on other sites More sharing options...
Crewton Posted January 19, 2022 Share Posted January 19, 2022 21 minutes ago, RadioactiveWaste said: The really worrying part is players sales flat out not viable due to the amounts involved. We've all seen the figures so far - the Administrators have probably calculated that more would be raised for established Football Creditors through compensation gathered by the EFL for players under 24 than would be raised now from sales, so there's no point. If someone came in with a half-sensible offer for a player, they'd probably sell, but the vultures want them for next to nothing. Andicis 1 Link to comment Share on other sites More sharing options...
RoyMac5 Posted January 19, 2022 Share Posted January 19, 2022 7 minutes ago, Norman said: I'm not sure why people think the latest from that meeting is bad. On Monday, I don't think our MPs, other club's fans, the media, or the Sports Minister knew the underhanded nature of the EFL. I think 2 days later everyone knows the position and it makes the EFL look massively incompetent at best. I think the EFL have no choice but to back down and throw the claims out. I'm at the point where I feel confident about it. Because there is still no path out of this, plus we still have no proof of funds. Link to comment Share on other sites More sharing options...
TooFarInToTurnRed Posted January 19, 2022 Share Posted January 19, 2022 5 minutes ago, Animal is a Ram said: As I understand it - this hasn't just been prepared for, it was actively proposed, but shut down due to the EFL not ruling on whether the claims by MFC and WWFC are football debts or not. If they rule 'in favour' of those two, we're finished. Nobody will taken on that risk. If they rule 'in favour' of DCFC, we're saved, but at the anger of MFC and WWFC who would, given their seemingly nuclear stance, probably attack the EFL and then the new owners again for good measure. In reality whichever way the decision went Boro and Wycombe will get nothing wouldn’t they? Think this is the “pragmatism” that was being called for yesterday. Crewton 1 Link to comment Share on other sites More sharing options...
Leeds Ram Posted January 19, 2022 Share Posted January 19, 2022 It also brings into focus why there hasn't been a mass sale or funds collected as from what Toby Perkins wrote they don't feel that there is any solution unless one of the efl or boro or wycombe back off. Crewton 1 Link to comment Share on other sites More sharing options...
RoyMac5 Posted January 19, 2022 Share Posted January 19, 2022 4 minutes ago, duncanjwitham said: The admins kick off the exit plan they have. A preferred bidder is chosen, they put in enough funding to cover the rest of the season. The exit is sorted and signed off by creditors, We sell to that bidder, exit admin and carry on. Obviously there are a lot of potential hurdles in there, and no guarantees of anything. But it's a viable plan to recovery. But they assumes they'll go forward when there are the B&W claims, and we know they won't. Link to comment Share on other sites More sharing options...
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