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The Administration Thread


Boycie

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This is what happened:

Preston North End board - “We have carried out detailed enquiries as to how long it will take your money to reach our accounts. It’s not acceptable, bye Chris”. 
 

Quantum of not solace - “How long will the money take to reach our accounts?”

Chris - “Errr, not long at all”.

Quantum - “Cheers Chris thanks for the information”.

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2 minutes ago, EtoileSportiveDeDerby said:

Exactly my point, you would have thought that Chelsea is the tricky one given the size

It's higher in value, but Derby's deal is massively complex with a lot of parts to it. 

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1 hour ago, I DONT MIND said:

I have had contracts from then SDI (now Frasers group) and i have to say i have had now problems with being paid on time. Also in my limited dealings with their management i can assure you that they all seem a happy and contented bunch and a joy to liaise with.

Yeah I worked on the payment side of things, so it’s good to hear you were always paid! But yeah, a very cash rich business that grew faster than he could ever have imagined and as a result meant some things slipped as he couldn’t have his eyes on everything.

Always a decent bloke with me and gave me experience that I’d never get going to work at another company that size so I’ll always be grateful to him. 

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5 minutes ago, EtoileSportiveDeDerby said:

Exactly my point, you would have thought that Chelsea is the tricky one given the size

Amount of funds being sent around isn't what makes it tricky. Chelsea (issues with their former owner aside) is pretty much a one to one transaction. They aren't in admin, so no funds need to be divvied up, or creditors appeased, or tax men paid...

Edited by IncredibleKoosh
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I wonder how open the door really is for Mike Ashley, or any other party now. I'd imagine the time spent doing deals and negotiations has cost a figure into 7 figures already, based on the time it's taken and the number of legal experts. Given the urgency of this all, if Ashley waltzes in and says he'll take the same agreement and that he's got the money ready to go, would or could they say no?

He'd bypass the difficult bit and the extra costs incurred, and portray himself as the saviour at the same time.

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So one Tweet,  not sure who, said the funds are moving to a new account set up to buy Derby. So I assume they need to go to a new account set up in a brand new company (Surely someone can work that out) which will then need to transfer it to DCFC account.

Why is the transfer not going straight into the DCFC account? I'd like to think CK has shown the admins the proof of transfer.

I'm also shocked no one here can influence the money police to get this expedited.

I'm still going for a CK victory here.

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1 minute ago, enachops said:

Sounds like it could be a scenario that Dawes said on t’wireless, a first past the post race. Who can get there 20 million cleared first. MA or CK? 

If,as been alleged,MA has not made a bid,surely he has to do that First with the administrators then putting his offer to the creditors. It is not just who gets the money cleared First.

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30 minutes ago, Cam the Ram said:

I swear with every statement it just leaves more questions unanswered. So once 5pm hits is the Kirchner deal off completely or can he continue to try and get it sorted whilst Quantuma are agreeing deals with other parties? Have Quantuma begun discussions with other interested parties now or is it the 5pm deadline that triggers that?

Interpret that as they’ve now ended his exclusivity and will talk to other people tomorrow.  It’s OK some saying Ashley has £28M but the admins aren’t responding, up until now they can’t.

I suspect the “satisfactory evidence” bit means the money laundering checks are complete, not that the transfer has started.  At the mo, it’s in the ether waiting to move.  If he can prove he’s passed all checks by 5pm tomorrow, then they’ll stick with him as they’ll know the transfer will happen pretty quickly.  If not, then it’ll be first past the post, which may still be CK.

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