The Administration Thread

[Curtains]

5 minutes ago, Eddie said:

Christ, my liver can't take it.

75cl Tripel Marmeleit, 50cl Kloster Scheyern Poculator and now a 33cl Gulden Draak Quad, and it's not half 5 yet.

I might have a JD or two tonight mate

[Day]

Just now, Curtains said:

I might have a JD or two tonight mate

Jammy Dodger?

[Ruud Aralliss]

Can I take my head out of the oven yet?

[Norman]

I've got a feeling that this won't be the winning bid or bidder. 

[i-Ram]

Interesting development, but not sure how paying ‘full asking price’ and £28m as also being reported actually equate?  What will £28m (buy or) repay?

Clearly not buying the stadium (at this stage) which will make their offer slightly problematic for the Administrators, as to how they deal with MSD and Morris. It seems to me all of the MSD debt is with the football club, so how much of the £28m Binnie monies might go to MSD I wonder? Relatively small amount I would guess which would leave MSD needing to recover the shortfall from Morris/Gellaw under the third party security they hold. Presumably they would have to appoint a receiver to take possession of the stadium unless Morris repays the debt from other funds.

Can someone remind me the %’s that are applicable in terms of repayments to creditors if we are to avoid and additional -15 points penalty. I know it has to be 100% football creditors, but what about everyone else? It would be terribly helpful if someone could also remind me what the breakdown was a few months back in £m’s as to what we owe to Secured Creditors (MSD), Preferential Creditors (HMRC), Football Creditors and Unsecured Creditors?

[Eddie]

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

Which one would you choose? Both a tenner - or would you just spend £20 

Brothel first - then the whisky to pour over it afterwards as disinfectant.

[Boycie]

26 minutes ago, David said:

That's true, you could also chuck in another 1.3k from the liquidation thread, not sure why we have 2 threads, just can't get the staff these days.

(Don't go merging it now mods, too late now, it's too late!)

We weren’t, as we don’t care.

[Black ('n' White) Sheep]

3 minutes ago, Norman said:

I've got a feeling that this won't be the winning bid or bidder. 

It won't be the only bid, Ashley is biding his time... It's what he does.

I'll take the fact that we have any bid at all as a massive positive at the minute though!

Edited January 21, 2022 by Black ('n' White) Sheep

[Geoff Parkstone]

2 minutes ago, i-Ram said:

Interesting development, but not sure how paying ‘full asking price’ and £28m as also being reported actually equate?  What will £28m (buy or) repay?

Clearly not buying the stadium (at this stage) which will make their offer slightly problematic for the Administrators, as to how they deal with MSD and Morris. It seems to me all of the MSD debt is with the football club, so how much of the £28m Binnie monies might go to MSD I wonder? Relatively small amount I would guess which would leave MSD needing to recover the shortfall from Morris/Gellaw under the third party security they hold. Presumably they would have to appoint a receiver to take possession of the stadium unless Morris repays the debt from other funds.

Can someone remind me the %’s that are applicable in terms of repayments to creditors if we are to avoid and additional -15 points penalty. I know it has to be 100% football creditors, but what about everyone else? It would be terribly helpful if someone could also remind me what the breakdown was a few months back in £m’s as to what we owe to Secured Creditors (MSD), Preferential Creditors (HMRC), Football Creditors and Unsecured Creditors?

Its on the companies house website

[kevinhectoring]

24 minutes ago, Topram said:

You’d think it might make Ashley and Appleby make there move now 

Ashley will get Gibbo to threaten to sue the Binnies if they proceed. It’s a slam dunk case - their plan to buy the club and square up to his repugnant claims will cause Gibbo to suffer significant financial loss and pain and suffering 

[andyburton72]

15 minutes ago, Eddie said:

Christ, my liver can't take it.

75cl Tripel Marmeleit, 50cl Kloster Scheyern Poculator and now a 33cl Gulden Draak Quad, and it's not half 5 yet.

Gulden Draak Quad - quality beer, have two left from Christmas, saving them until after tomorrow’s win over the ‘dogs

[Day]

3 minutes ago, Boycie said:

We weren’t, as we don’t care.

I admire your honesty 

[kevinhectoring]

4 minutes ago, i-Ram said:

Interesting development, but not sure how paying ‘full asking price’ and £28m as also being reported actually equate?  What will £28m (buy or) repay?

Clearly not buying the stadium (at this stage) which will make their offer slightly problematic for the Administrators, as to how they deal with MSD and Morris. It seems to me all of the MSD debt is with the football club, so how much of the £28m Binnie monies might go to MSD I wonder? Relatively small amount I would guess which would leave MSD needing to recover the shortfall from Morris/Gellaw under the third party security they hold. Presumably they would have to appoint a receiver to take possession of the stadium unless Morris repays the debt from other funds.

Can someone remind me the %’s that are applicable in terms of repayments to creditors if we are to avoid and additional -15 points penalty. I know it has to be 100% football creditors, but what about everyone else? It would be terribly helpful if someone could also remind me what the breakdown was a few months back in £m’s as to what we owe to Secured Creditors (MSD), Preferential Creditors (HMRC), Football Creditors and Unsecured Creditors?

I-ram !!!  Let us have some fun tonight 

[hintonsboots]

5 minutes ago, Eddie said:

Brothel first - then the whisky to pour over it afterwards as disinfectant.

 

[RadioactiveWaste]

2 minutes ago, i-Ram said:

Interesting development, but not sure how paying ‘full asking price’ and £28m as also being reported actually equate?  What will £28m (buy or) repay?

Clearly not buying the stadium (at this stage) which will make their offer slightly problematic for the Administrators, as to how they deal with MSD and Morris. It seems to me all of the MSD debt is with the football club, so how much of the £28m Binnie monies might go to MSD I wonder? Relatively small amount I would guess which would leave MSD needing to recover the shortfall from Morris/Gellaw under the third party security they hold. Presumably they would have to appoint a receiver to take possession of the stadium unless Morris repays the debt from other funds.

Can someone remind me the %’s that are applicable in terms of repayments to creditors if we are to avoid and additional -15 points penalty. I know it has to be 100% football creditors, but what about everyone else? It would be terribly helpful if someone could also remind me what the breakdown was a few months back in £m’s as to what we owe to Secured Creditors (MSD), Preferential Creditors (HMRC), Football Creditors and Unsecured Creditors?

Good point, i think it's 100% to football craditors, 25% to unsecured creditors. Secured creditors either agree an amount or accept their security, HMRC are just after football creditors (before unsecured) and don't have a 100% requirment, but are preferential and drive a hard bargain. That's what i understand, but happy to be corrected.

You're dead right the MSD debt is a tricky one, unless an agreement has been made with MM.

 

[i-Ram]

3 minutes ago, Geoff Parkstone said:

Its on the companies house website

I’m interested to know Geoff, but not that interested.

[i-Ram]

2 minutes ago, kevinhectoring said:

I-ram !!!  Let us have some fun tonight 

I am washing my hair.

[Animal is a Ram]

12 minutes ago, i-Ram said:

Interesting development, but not sure how paying ‘full asking price’ and £28m as also being reported actually equate?  What will £28m (buy or) repay?

Clearly not buying the stadium (at this stage) which will make their offer slightly problematic for the Administrators, as to how they deal with MSD and Morris. It seems to me all of the MSD debt is with the football club, so how much of the £28m Binnie monies might go to MSD I wonder? Relatively small amount I would guess which would leave MSD needing to recover the shortfall from Morris/Gellaw under the third party security they hold. Presumably they would have to appoint a receiver to take possession of the stadium unless Morris repays the debt from other funds.

Can someone remind me the %’s that are applicable in terms of repayments to creditors if we are to avoid and additional -15 points penalty. I know it has to be 100% football creditors, but what about everyone else? It would be terribly helpful if someone could also remind me what the breakdown was a few months back in £m’s as to what we owe to Secured Creditors (MSD), Preferential Creditors (HMRC), Football Creditors and Unsecured Creditors?

c£20m of MSD debt is on the stadium, which is not DCFC, it's Mel. If Binnies don't purchase the stadium, it'll pay rent to MM.

There is apparently a soft loan against Moor Farm. This is against DCFC, I think.

100% to HMRC (unless there's a deal), Football Creditors (Arsenal, Lech?). I could be wrong, mind.

Edited January 21, 2022 by Animal is a Ram

[rufus]

According to BBC https://www.bbc.co.uk/sport/football/60085954

[Eddie]

2 minutes ago, andyburton72 said:

Gulden Draak Quad - quality beer, have two left from Christmas, saving them until after tomorrow’s win over the ‘dogs

I've still got a couple of the Lidl boxes from last June - 1 x GD Quad, 1 x GD, 1 x Piraat, 1 x Piraat Tripel Hop, 1 x Bornem Tripel, 1 x Bornem Dubbel in each box. Then I'm breaking into the dozen boxes I bought in November. Will they last until next Father's Day? Not a chance.