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The Administration Thread


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35 minutes ago, I DONT MIND said:

Local Lad made good in the excesses of the eighties (Loscoe Lad). 

Very nearly got control of Man Utd in 1988, ended up owning Carlisle United also sacked the manager at one point and put himself in the job.

 

Tidy footballer in his younger days hence the quips about ball juggling.

I do believe he is a Derby half fan. 

No idea of his current worth although definitely not enough to keep the wolf from the door on his own, so if he is involved (unlikely) it will be part of a consortium.

He`s 100% a Derby fan

35 minutes ago, I DONT MIND said:

 

 

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1 hour ago, Elwood P Dowd said:

Have a look in the.. The Football Creditor rule is explicit, simple, and solves all of Derby's issues thread

HMRC is not defined as a Football Creditor under the Articles of Associated 

"48         FOOTBALL CREDITORS
48.1      Where a Member Club defaults in making any payment due to any of the following persons, 
the Member  Club ('Defaulting  Club')  shall be subject to such penalty  as the Board may decide 
and subject also to Article 48.2:

48.1.1        The League, The FA Premier League and the Football Association;
48.1.2        any of the Pension Schemes;
48.1.3        any Member Club and any Club of The FA Premier League;
48.1.4        any holding company  of The League and any subsidiary  company  of that holding 
company;
48.1.5        any sums due to any full-time employee or former full-time employee of the Member 
Club by  way  of arrears  of remuneration  up to the date on which that contract  of employment is 
terminated. This excludes for these purposes all and any claims for redundancy,   unfair   or  
wrongful   dismissal   or  other   claims   arising   out   of  the termination  of  the  contract  
or  in  respect  of  any  period  after  the  actual  date  of termination;
48.1.6        any  sums  due  to  the  Professional  Footballers  Association  in  repayment  of  
an interest  free loan together with such reasonable  administration and legal costs as have been 
approved by the Board;
48.1.7        The Football Foundation;
48.1.8        The Football Conference Limited trading as "the National League";
48.1.9        The Northern Premier League Limited;
48.1.1O      The Isthmian League Limited;
48.1.11      The Southern League Limited;
48.1.12      Any member club of the League or organisations listed in Articles 48.1.8 to 48.1.11 
inclusive;
48.1.13      Any County Football Association affiliated to The Football Association; and
48.1.14      Any Leagues  affiliated to The Football Association  and any clubs affiliated to any 
County Football Association recognised by The Football Association.

48.2      Subject to the provisions of Articles 48.3 and 48.4, the Board shall apply any sums 
standing to the  credit  of  the  Pool  Account  which  would  otherwise  be  payable  to  a  
Defaulting  Club,  in discharging  the  creditors  in Article  48.1.  As  between  the Football  
Creditors,  the  priority  for payment shall be in accordance with the order in which those 
Football Creditors are listed in Article 48.1.

48.3      If,  having  discharged  all Football  Creditors  in  any  preceding  class  of  Football 
 Creditor  (as
· required by Article 48.2) the sum then available is not suffident to discharge in full the 
Football Creditors listed in Articles 48.1.1, 48.1.2 or 48.1.4 the Board will decide the 
allocation.

48.4      If,  having  discharged  all Football  Creditors  in  any  preceding  class  of  Football 
 Creditor  (as required by Article 48.2) the sum then available is not sufficient to discharge in 
full the Football Creditors listed in Article 48.1.3, 48.1.5, 48.1.12, 48.1.13 or 48.1.14 the sum 
will be allocated pro rata amongst the creditors of the same class.

Note - Clubs are reminded that any assignment of future entitlements from the pool account are 
subject to Article 45 and this must be brought to the attention of the other party. Furthermore 
assignments must be in legal form and registered with the office. Assignments are given priority 
according to the date and time of registration."

So if HMRC goes after any player whose PAYE has not been handed over in full (which I understand can happen) then that player can claim the amounts unpaid to HMRC as unpaid gross wages under 48.1.5?  A sort of subrogated claim?

Lust 

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13 minutes ago, PistoldPete said:

Pauline and Margaret Beckett to give Efl another hand bagging. This time it gets really mean.
 

If we get out of this we should have our own version of this statue, but with Margaret Beckett dispensing the justice. 
 

(For those unfamiliar with the story: https://en.m.wikipedia.org/wiki/The_Woman_with_the_Handbag)

 

E0CC1A95-1391-4B70-8DC2-46AD7564E0D8.jpeg

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My read (hope) on latest: 

Funding for the next month is to secure time to finalize the takeover, which is underway (officially).
 

Assumptions I’m making for the above to be true: 

1. Admins have the official offer(s) in hand, now the due diligence part of any deal can proceed. Some of this can be done pre-offer…but offer needs to be in-hand to finalize any due diligence(standard contracts practice). The Admins can’t really make a move or statement with out an official (in hand offer), Binnies move made others officially bid for club, as opposed to negotiation. 
 

2. If number one is true, then Derby shouldn’t see any more player sales (at least not forced sales). 
 

3. if One and Two are true; Derby will likely see a takeover in February. Unfortunate to have passed the transfer window. But, knowing that a takeover is officially underway now…the focus can turn back to the daunting task of staying up. Knowing the club is going to continue on and players/coaches not having to worry about jumping ship before the club folds. 
 

as always, this is my speculation on this seemingly small(yet potentially massive) development. 

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15 minutes ago, Betty Swollocks said:

I don`t think he goes to games now. Think he lives on Isle of Man?

He was a regular in the 70`s/80`s before his businesses took off and he then tried to buy Man Utd in the late 80`s

Ah so this is the pompous twit I heard on Radio Derby this morning, practically rimming his good mate Steve Gibson, talking utter poo about his demand for money from us not being a stumbling block, and seemingly to having an issue with the very fact that the administrators would be getting paid for their work (as if we all thought they were working for free)?

Honestly from the clip they played it sounded more like Gibson had called in a favour and asked him to go on Radio Derby to publicly back him up.

Edited by Coconut's Beard
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3 minutes ago, Hanny said:

My read (hope) on latest: 

Funding for the next month is to secure time to finalize the takeover, which is underway (officially).
 

Assumptions I’m making for the above to be true: 

1. Admins have the official offer(s) in hand, now the due diligence part of any deal can proceed. Some of this can be done pre-offer…but offer needs to be in-hand to finalize any due diligence(standard contracts practice). The Admins can’t really make a move or statement with out an official (in hand offer), Binnies move made others officially bid for club, as opposed to negotiation. 
 

2. If number one is true, then Derby shouldn’t see any more player sales (at least not forced sales). 
 

3. if One and Two are true; Derby will likely see a takeover in February. Unfortunate to have passed the transfer window. But, knowing that a takeover is officially underway now…the focus can turn back to the daunting task of staying up. Knowing the club is going to continue on and players/coaches not having to worry about jumping ship before the club folds. 
 

as always, this is my speculation on this seemingly small(yet potentially massive) development. 

I don’t think this is true. We will not see a takeover in February. They have to deal with all of the creditors not just Boro and Wycombe and this will not get done now much before end of the season.

However naming a Preferred Bidder may be close .  But we have said that before.

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14 minutes ago, Geoff Parkstone said:

So if HMRC goes after any player whose PAYE has not been handed over in full (which I understand can happen) then that player can claim the amounts unpaid to HMRC as unpaid gross wages under 48.1.5?  A sort of subrogated claim?

Lust 

No, the players income tax was collected by Derby but it wasn’t paid to HMRC by Derby. the responsibility lies with Derby

 

Edited by Elwood P Dowd
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12 minutes ago, CBRammette said:

Main question of the day why would someone start a false thread saying cameras outside pride park, announcement incoming when people are totally stressed out with this? Would get banned with my own answer

BBC Breakfast did two excellent pieces this morning from Pride Park. Maybe the cars etc are from that 

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Just now, rsmini said:

BBC Breakfast did two excellent pieces this morning from Pride Park. Maybe the cars etc are from that 

This was my initial thought, X person sees cameras outside this morning, texts his/her mate, they pass it on and it reaches a member who's on this forum by the afternoon and posts.

Would like to thing this is what happened and no malice was intended.

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