The Administration Thread

[twelveincher]

2 minutes ago, Animal is a Ram said:

I can’t tell if I’m kidding myself, but gut instinct is that this isn’t as bad as people are making it out to be.

I’m not saying it’s not a bad thing - one fewer bidder is never good, but he never seemed fully serious about it in the first place. 

Ashley dropping out as now all the hurdles are cleared he knows he can’t be the PB?

Appleby/Binnie bidding higher? Was Ashley waiting until we were on our very last breath? 
I was almost gutted reading that he’d dropped out, but thinking timing wise that it might actually suggest progress more than anything.

[i-Ram]

2 minutes ago, Animal is a Ram said:

Genuine question - where do the admins fall in the creditors pecking order?

In a Liquidation, after creditors holding fixed charges (MSD). I presume it is no different in an Administration. Note the deal Q are trying to do would seem to be seeing MSD paid by Morris, simultaneously with the sale of the stadium.

[Allestree Ram]

Isn’t Ashley friends with Gibson? Can he be trusted? 

[Gee SCREAMER !!]

Jesus.  The amount of **** **** from down the road commenting on this, from one of their own purporting to be a journalist, is quite frankly, embarrassing.  We should all contact our mates at the EFL, regarding their ******** flogging of failed assets to their Greek feeder club to avoid FFP failure every transfer window.

[kevinhectoring]

11 minutes ago, Animal is a Ram said:

Genuine question - where do the admins fall in the creditors pecking order?

They are in the penthouse suite 

[Guest]

44 minutes ago, Red Ram said:

The problem is that nowhere in Mel's statement does he actually "offer to transfer liability for the claim from DCFC to himself". What he actually says is "I invite Boro, and in due course Wycombe if they so wish, to take their claims to the High Court against me personally" but it is highly doubtful that this is even legally possible due to limited liability. Boro's claim is against DCFC. How can they pursue a case against Mel Morris instead? It would break the fundamental principle of company law wouldn't it?

Out of several posts from last night and today that I posted the most salient comment is below. You must remember that English law is not wholly cast in tablets of stone as per what is written in statute law.. It is very fluid and open to interpretation by the High Court which makes new interpretation of the law every day by way of stated cases. I believe with some confidence that Mel Morris took expert legal advice on his proposal before releasing the statement and that would have included the advice that his proposed route to the High Court was feasible:

Pete, I am usually warmed by your contributions to this forum but on this occasion I reluctantly have to say this is unhelpful and merely confuses the situation for some others. The comment indicates a clear lack of understanding of the concept of limited liability for claims against a company . Limited liability absolves a director from personal liability so quite rightly Gibson has lodged his claim against DCFC as a company. Neither Morris, Pearce, McFarland whoever has any personal  liability for the claim. It falls squarely on the company that is DCFC Limited.

However, Mel Morris has offered to accept the transfer of liability from DCFC to himself personally. I do not know if this has previously been done under English Law or not. But it seems a very reasonable and generous offer. If it does set a precedent, the High Court is an a position to accept Mel's offer and hear the case by way of case law in which it lays down its reason for hearing MFC v Morris or not. If it makes it a stated case and allows it to be heard, then the principle of the transfer of liability will become enshrined in law for the future.

I hope that Mel has benefitted from expert legal advice beyond what is probably available within this forum and has been told the court may well allow the claim to proceed in the way Mel has proposed. We shall see.

In biblical terms the offer is morally outstanding for Mel is saying to Caesar Gibson by all means seek to crucify me but please don't pursue genocide against my former flock, which is the fanbase of Derby County. So let's hope it works.

[Ken Tram]

42 minutes ago, RadioactiveWaste said:

I'm doing a 10k run around glasgow green tomorrow morning, so wish me luck (1.05 would be good for me), but it looks like it's going to be cold and hammering down.

Good luck!

Edited February 6, 2022 by Ken Tram

[uttoxram75]

40 minutes ago, kevinhectoring said:

They are in the penthouse suite 

Genuine question.

Do you work for the EFL.?

[BramcoteRam84]

55 minutes ago, Gee SCREAMER !! said:

Jesus.  The amount of **** **** from down the road commenting on this, from one of their own purporting to be a journalist, is quite frankly, embarrassing.  We should all contact our mates at the EFL, regarding their ******** flogging of failed assets to their Greek feeder club to avoid FFP failure every transfer window.

I commented on his Twitter feed. He is an award winning journalist. Wrote a brilliant piece on us last week in the Athletic. Went on the March, went to the game listened to RD phone in during the build up. Really good piece. His first job was covering Derby in the 90s working for Raymond’s Press Agency (Lionel’s company). Yet tweets that,  can’t resist tweeting wearing his red dog glasses. Thinks the Derby victim campaign over FFP is nauseous. Happy to swallow the narrative that has been peddled about us as it fits the narrative they want, purely partisan no thinking about football as a whole and how other clubs are just one owner deciding they’ve had enough away from our fate. 
 

All we want is to be treated fairly and proportionately. Yet we’re the easy target and the playground bullies won’t stop. We’ve been punished for FFP, we’ve been punished for going into admin. These ridiculous claims are threatening our whole club’s existence. If we can move them out the way then chances are we still don’t have enough to pay creditors therefore that’s further sanctions (-15 points next season) and rightly so, but Red Dogs and many others just don’t get it.

All it takes for our new owner whoever that may be to start threatening the EFL over Forest and building consensus and then their fate could be similar, at least from an FFP perspective, Maranakis will probably keep paying his bills unlike Mel!

 

Edited February 6, 2022 by BramcoteRam84

[sage]

1 hour ago, Bubbles said:

https://www.thesun.co.uk/sport/football/17560348/mike-ashley-Derby-county-bid/

 

Oh rooster.

”The former Newcastle owner is fuming about the way the Rams’ administrators rejected his offer to buy the club and even subsidise it this season.”

If true this shows that quantuma are money grabbing bar stewards 

He was offering less than the other bidders. Of course his offer wasn't accepted. 

[Comrade 86]

1 hour ago, Tyler Durden said:

Anyhows why do we have administrators in the club in the first place. 

 

[Carl Sagan]

It is a terrible and desperate state of affairs when my preferred bidder is Mike Ashley so, if he is dropping out, I hope it is a bargaining ploy. Him buying the club is ultimately the least complicated option with a wealthy Brit who has run a Premier League (or Championship-winning) club before and will pass the proof of funds and fit and proper person test. The lack of complications for him means it is more likely for any deal to go through more quickly, and we desperately need a speedy deal before our entire playing staff is asset-stripped, knowing they are almost all out of contact this summer so allowed to negotiate deals.

Also, we need a savvy bruiser to fight our corner against the EFL, Boro and Wycombe etc.  Next, there is clear motivation for why he would want to buy us and the reason ties in to making us successful, even if that's a vanity project. That's what owning a football club is. I do not understand why the American groups are interested when the costs are so high. It's all very well saying Ashley's bid is lower than the Binnie's, but at least we do know Ashley has the money and can move quickly. And the administrators should be able to factor that in, in terms of getting the best deal for the creditors. Any money is better than no money...

[GB SPORTS]

3 hours ago, uttoxram75 said:

Mum was a Babycham girl I think! Cherry B girls were a bit too racy!!!!!

I used to go out with a few girls who were Martini girls, but that's a different story. 

 

 

 

 

 

 

 

 

Any time, any place, anywhere. 

Edited February 6, 2022 by I DONT MIND

[Tyler Durden]

4 hours ago, BramcoteRam84 said:

I commented on his Twitter feed. He is an award winning journalist. Wrote a brilliant piece on us last week in the Athletic. Went on the March, went to the game listened to RD phone in during the build up. Really good piece. His first job was covering Derby in the 90s working for Raymond’s Press Agency (Lionel’s company). Yet tweets that,  can’t resist tweeting wearing his red dog glasses. Thinks the Derby victim campaign over FFP is nauseous. Happy to swallow the narrative that has been peddled about us as it fits the narrative they want, purely partisan no thinking about football as a whole and how other clubs are just one owner deciding they’ve had enough away from our fate. 
 

All we want is to be treated fairly and proportionately. Yet we’re the easy target and the playground bullies won’t stop. We’ve been punished for FFP, we’ve been punished for going into admin. These ridiculous claims are threatening our whole club’s existence. If we can move them out the way then chances are we still don’t have enough to pay creditors therefore that’s further sanctions (-15 points next season) and rightly so, but Red Dogs and many others just don’t get it.

All it takes for our new owner whoever that may be to start threatening the EFL over Forest and building consensus and then their fate could be similar, at least from an FFP perspective, Maranakis will probably keep paying his bills unlike Mel!

 

Does it mention how he managed to rack up such a heinous tax bill and "forgot" to pay HMRC?

That's the most interesting bit out of the whole debacle which he's managed to omit from his statement. 

[CornwallRam]

6 hours ago, Animal is a Ram said:

Genuine question - where do the admins fall in the creditors pecking order?

My understanding is that the post-admin loan (£5m?) is 1st, followed by the admins fee/costs. 

[Gritstone Ram]

Two things Ashley wanted to pay the admins less and less for the stadium. I suspect he wasn’t the highest bidder.

secondly I suspect he is standing back and watching how this plays out. He might be back with a lower bid in the end.

[Rambam]

28 minutes ago, Gritstone Ram said:

Two things Ashley wanted to pay the admins less and less for the stadium. I suspect he wasn’t the highest bidder.

secondly I suspect he is standing back and watching how this plays out. He might be back with a lower bid in the end.

Yeah he’ll go to the front of the queue by offering to pay the administrators LESS won’t he? 
He really knows how to curry favour doesn’t he? 
Doesn’t look like he’s learnt anything at Newcastle after all. 

[davenportram]

7 hours ago, Eddie said:

It depends entirely on whether or not the child is being left 'at risk'. That is entirely subjective, of course, if nothing untoward actually happens.

 

Exactly - unless your a doctor on holiday

[CBRammette]

7 hours ago, Eddie said:

It depends entirely on whether or not the child is being left 'at risk'. That is entirely subjective, of course, if nothing untoward actually happens.

 

Presumably something did or there would be no story or police involvement? 

[Kathcairns]

37 minutes ago, Rambam said:

Yeah he’ll go to the front of the queue by offering to pay the administrators LESS won’t he? 
He really knows how to curry favour doesn’t he? 
Doesn’t look like he’s learnt anything at Newcastle after all. 

I would love to know how some of you seem to know what ashley is going to do next.