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The Administration Thread


Boycie

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17 minutes ago, kevinhectoring said:

CK is no fool and would not express delight at becoming our new owner lightly. And he certainly would not agree to put cash in without a very very strong expectation the deal will close.

He's obviously a long term associate of yours. You clearly know everything about him. You've kept that very close to your chest over the last few wee's. You'd better let Mrs i-Ram know. It might change her opinion of you ?

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1 hour ago, jimtastic56 said:

I know what you mean , but we will need every penny we can get in season ticket money , from whoever. I will be happy when I hear our youngsters are signing contracts, and let’s not unleash hell on Mel till the ground ownership is sorted.

he should receive a lifetime ban from PP as should Gibson both should be hand delivered ....both of them are not welcome.!!!

 

 

once we own the ground again lol 

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2 minutes ago, 1of4 said:

Sorry but can't feel any relief, excitement on hearing the news. With all the conditions in the contract that's been signed, it still leaves the club in limbo, unable to sign players and sell season tickets. It's just an extension under another name.

Yea to me, unless there's been a significant deposit been paid this is just a way to keep Ashley out. It's unclear what the penalties are for not completing the deal.

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6 minutes ago, kevinhectoring said:

Bit puzzled by Q’s wording. They say that one condition is consent of ‘secured creditors’, which I’d thought must be MSD.  
Would be an odd way of referring to HMRC. Don’t quite get it 
 

impressed by the 31 May target for CK 
taking over. Presumably that means out of administration by that date which seems quite whippy  ? 

At a guess, Morris can't legally sell the stadium while MSD still have a charge over it, and Morris can't clear the MSD loan until he has the money from the sale of it.  So it's a catch-22 situation unless we get MSD involved to sanction the sale going through before it's cleared.  If there are contracts in place etc, I assume it wouldn't be a major issue.

There's also the slight possibility that the MSD loan isn't being cleared and is being taken on by whoever buys the stadium.

Edited by duncanjwitham
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Re: Ed Dawes I think he said something last night thst RD had not heard anything official from the admins for weeks? Then I guess you are getting statements from Kirchner and the admins this morning with a lot of holes that can be picked apart.

If everything is ok then I would presume you’ll hear Ed and the like being briefed today, if that doesn’t happen well…I guess we can ask more questions at that point 

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1 minute ago, TuffLuff said:

Re: Ed Dawes I think he said something last night thst RD had not heard anything official from the admins for weeks? Then I guess you are getting statements from Kirchner and the admins this morning with a lot of holes that can be picked apart.

If everything is ok then I would presume you’ll hear Ed and the like being briefed today, if that doesn’t happen well…I guess we can ask more questions at that point 

To be fair, I wouldn't tell Ed Dawes that his trousers were on fire, so not having comms from Q for weeks just shows therm in a good light....

 

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11 minutes ago, Derbados said:

I’m interested in Kirchners interim funding of the club whilst under conditional contract exchanges. 

If this goes south and he pulls out, lets say 3 weeks from now, do we owe him money? will he be borrowing to start funding the club etc etc 

intrigued to know the payment structure and how this impacts us in case of a “no sale” 

Wouldn't he just become another creditor?

I suppose it's not much different from a property purchase, you have to pay for searches and so on and the sale could still fall through even after/before contracts are exchanged.

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1 hour ago, Ambitious said:

Creating leverage without increasing liability is exactly what good business men do - and that’s what CK has done here

Has he? I said a couple of weeks back that my suspicion was that MM was running the clock down to the point where CK either had to walk away or start funding the club until the deal is complete.  Now CK is paying the bills, that surely creates leverage for MM, not the other way around? It's either agree to MMs terms, or walk away and lose the money you're now spending on the club. 

 

 

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1 minute ago, Stive Pesley said:

Has he? I said a couple of weeks back that my suspicion was that MM was running the clock down to the point where CK either had to walk away or start funding the club until the deal is complete.  Now CK is paying the bills, that surely creates leverage for MM, not the other way around? It's either agree to MMs terms, or walk away and lose the money you're now spending on the club. 

 

 

No we would ground share. 
Duck MM 

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