The Administration Thread

[B4ev6is]

4 minutes ago, GeneralRam said:

There's no PB because we are not worth the money.

The club will be liquidated after the season is done.

No we wont

[May Contain Nuts]

28 minutes ago, kevinhectoring said:

I do say that. The open letter from MM to Gibbo got the ball rolling on a settlement and that process should have been initiated by Q in 2021. Couhig and Gibson both said no one made contact with them about the claims for months. Dealing with them should have been a priority
 

I don’t think your contention about the cram down holds water. @Oldbenposted a marketing circular by a law firm - from 2019 I believe - where they wrote about schemes of arrangement and how they work. The paper went on to say that where football creditors are concerned, schemes might  not provide a full solution because the compromise might contravene the FC rule. 
 

Q’s proposal was no different. 
 

None of us is in a position to say whether the EFl was wrong or right in its analysis. This is because it turns on the insolvency policy which we have not seen. But at best it was a grey area and Q needed to ensure EFL was onside with Q’s analysis well in advance of Q putting all their eggs in one basket (and telling Rooney he’d be able to sign players after the famous Thursday meeting with EFL). It was a train wreck of monumental proportions which demonstrated that Q and its advisers had not spotted the dangers outlined in the circular Oldben posted. 

I’m not saying at all that the EFL are blameless. They were weak in dealing with the Gibbo claim (and they are now paying the price). But their view on the cram down would simply have come from their legal team and it’s not a view anyone should have been surprised by. 

Whatever you say. 

Still haven't said how Q could have dealt with the claims earlier, how they'd raise  MM to action so to speak and you're still choosing to take Gibson & Couhig at their word as if all it would have taken was a little chat and a small offer of compensation to sort out.

Offering them anything as part of the admin process would have been scandalous, but that appears to be the way forward you think Q should have handled it though so there's little else worth saying.

Plus I'm out for the night, don't have time for a full post and probably won't be arsed to pick this up again tomorrow anyway! (As a general rule if I can't reply to someone within a few hours, I can't really be arsed later, I lose interest in the conversation and just kind of forget about it!)

Edited March 29, 2022 by Coconut's Beard

[Mucker1884]

5 minutes ago, B4ev6is said:

They can have a freaking break once take over is done.

They may suffer from exhaustion before then.  A break now might do them the power of good, and ensure they finish on a high.  ?‍♂️

[Tyler Durden]

12 minutes ago, B4ev6is said:

I dont feel like joking mate

Not when our club is at risk.

They've got to spend the money they're making out of the club somehow you know 

[B4ev6is]

12 minutes ago, Mucker1884 said:

They may suffer from exhaustion before then.  A break now might do them the power of good, and ensure they finish on a high.  ?‍♂️

Look they can take year out once derby county taken over.

[B4ev6is]

9 minutes ago, Tyler Durden said:

They've got to spend the money they're making out of the club somehow you know 

Well mate

Look mate they have funds to see out the season this needs to be done.

[Tyler Durden]

1 minute ago, B4ev6is said:

Well mate

Look mate they have funds to see out the season this needs to be done.

Was just being flippant so apologies as fed up with reading stuff posted from alleged ITK Twitter accounts all day.

What happens happens am afraid. The admins can't compel anyone to bid more for the club than they actually think it's worth which is what I suspect is the hold up atm.

[B4ev6is]

3 minutes ago, Tyler Durden said:

Was just being flippant so apologies as fed up with reading stuff posted from alleged ITK Twitter accounts all day.

What happens happens am afraid. The admins can't compel anyone to bid more for the club than they actually think it's worth which is what I suspect is the hold up atm.

Sorry if upset you I guess were all a bit touchy at the moment.

[Tyler Durden]

1 minute ago, B4ev6is said:

Sorry if upset you I guess were all a bit touchy at the moment.

No you didn't upset me B4 but appreciate the thoughts ?

Think everyone is fed up with things just dragging on and on every day

[Archied]

58 minutes ago, Tyler Durden said:

I just did....got out of office reply saying they are spending a few days in Las Vegas after attending the Oscar ceremony in Hollywood at the weekend but should be back by the start of next month. 

Let’s hope they are not between a rock and a hard case ??‍♂️

[B4ev6is]

Admin could help themself just by saying we have pick pb and taking to efl next couple of days at least sends a little message near the end.

[Mucker1884]

13 minutes ago, B4ev6is said:

Look they can take year out once derby county taken over.

You're probably right mate, to be fair.  ??

And besides, once they've finished with us, they'll probably be in a position to take a year out!

[Ramslad1992]

1 hour ago, Tyler Durden said:

I just did....got out of office reply saying they are spending a few days in Las Vegas after attending the Oscar ceremony in Hollywood at the weekend but should be back by the start of next month. 

Bet that felt like a slap in the face

[Abu Derby]

Q unable to get PB as they’re ZZZZ’s down at the rub-a-dub. 

[I know nuffin]

3 hours ago, archram said:

I think I read somewhere that EFL meet on Thursday. If so, admins may delay until last minute to prevent the leaks.

Also admn said they would go to the EFL "early" this week but they did not define when their week started when they worked the weekend as their latest missive claimed

[I know nuffin]

1 hour ago, StrawHillRam said:

The only concrete thing we have (not) got is the stadium ?

Just like Chelsea then and not having a stadium did not stop them running up a debt that makes ours look like back pocket money!

[Bubbles]

bored.

[Dean (hick) Saunders]

4 minutes ago, Bubbles said:

bored.

[TuffLuff]

3 hours ago, TexasRam said:

Not sure if it’s 100% reliable, however 

 

FWIW, and because there’s little else to discuss, I don’t think Andy is the worse ‘#itk’ out there. I don’t really follow aside when he comes up in a #dcfcfans Twitter search but he’s at least interesting and raises interesting points 

I do think he probably knows someone, but the issue the person he knows probably has a bit of money and a vendetta against Morris. Therefore he gets bits of info this person wants out, therefore I’m not sure he’s overly trustworthy.

The other issue is that because of this he overcomplicates and over analysis's so what he wants to say doesn’t translate very well. This means that, atleast the stuff I’ve read, ends up being 2+2=5.

So yeah, it’s a somewhat interesting account but take it with a pinch of salt. Thing is with #itk’s I’m sure a lot do get told stuff, let’s face it loads of us do, but you really need to be able to communicate a clear point and do it at the right moment in the right way. Be smart about it, basically!

[Ramarena]

3 hours ago, davenportram said:

Erm - the golden share is a red herring

 

1) exit Admin under an agreement that does not meet EFL minimum results in points deduction but the golden share is transferred

2) exit admin and meet EFL requirements golden share is transferred
 

if football creditors paid in full and HMRC and other creditors agree a payment plan for what’s left then golden share is transferred in either scenario.
 

There is no threshold for golden share transfer

 

Exactly, he’s making it sound like a franchise set up like they have in the MLS.