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The Administration Thread


Boycie

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26 minutes ago, atherstoneram said:

No doubt he has the money to write a cheque today but if he wants to pay the creditors way below the 25p then the administrators have to go back to the creditors to accept it or not,it is not just a case of accepting his offer no matter how much spouting off he is doing in the media.

Again all you say is indeed true,however like i said MA will play the waiting game and it will be take it or leave it scenario,he is not one bit concerned about the creditors they will end up taken around 10p in the pound if there lucky plus payment plan to the HMRC but all this saves DCFC moving forward

The longer this drags on the longer we have a big chance of going into liquidation the HMRC bill as already gone from 28m to 36m since administration and chuck on top the bill from Q about another 5m

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35 minutes ago, PistoldPete said:

You quoted some random person on twitter and came to the same wrong conclusion as the person making the tweet. Q has made it clear Morris has not changed the asking price for PPS, even the Daily Fail says the deal for PPS is all agreed and ready to go. The problem is that CK, who was the highest bidder, hasn't paid up. And Ashley isn't the next highest bidder either.  Ashley has deep pockets but also has short arms.

Have you ever thought that Morris's asking price is too much ? Nothing to do with Ashley having short arms, its only worth what someone is willing to pay..If CK can't prove or legitimise his funding his bid is worthless...perhaps Ashleys valuation is correct and Morris wont take a hit when he's clearly left DCFC in a mess.....I have no doubt that if Ashley got us we'd be in safe hands and wouldn't be going through this mental torture anytime he was in control....

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20 minutes ago, TuffLuff said:

Bit of a strange one all round, thought he came across well on the radio but it’s all the other stuff surrounding BAWT I have no time for. 

Yeah, I found the telegram group absolutely nauseating and full of self importance.

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3 minutes ago, Flying Fokker said:

Just a thought,  what role does the administrator play?  It is a legal issue.  Nothing to do with EFL.  The points deductions are the only reason for marching. Who placed the club into administration?  The administrator has to get the best deal for creditors regardless of all other matters (If creditors are to come out of this with any of their money back).  I dare say that there are a few amongst them that think they deserve just as much as football creditors as well.

Q have to comply with EFL rules and procedures as well as all insolvency & banking law.

Club accountants, lawyers or auditors call in administrators (perm any combination).

EFL heavily culpable in how they have prevaricated, acquiesced, fudged around re: FFP & P&S interpretations, failure to negate parasite intentions and claims, incurred wrath and legal actions from other Member clubs through delays in initiating original DCFC charges; creating extended disciplinary judgement appeals and entertaining Middlesbrough legal challenges; selective leakage of information to media click-baiters...serial incompetence in a nutshell.

DCFC points penalties little to do with much of the distrust and dislike of EFL structure and regime - DCFC broke the rules and suffered penalties; Mel Morris put DCFC into Admin and incurred the further 12 points.

Hence, penalties not a motivation for fans to march - but EFL procrastination and negative tactics, and the 'constructive relegation' from December 2021 to June 2022 to appease parasites, empty Moor Farm of players and DCFC's future potential transfer benefits, block or defer takeover attempts through the above debacle have created permanent grievances.

Still, it's all bullshat and bluster from all sides because there are under 4 hours until CK's fiscal deadline occurs and the whole thing is flung back into the Infinite Probability Drive.

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Just now, S8TY said:

Have you ever thought that Morris's asking price is too much ? Nothing to do with Ashley having short arms, its only worth what someone is willing to pay..If CK can't prove or legitimise his funding his bid is worthless...perhaps Ashleys valuation is correct and Morris wont take a hit when he's clearly left DCFC in a mess.....I have no doubt that if Ashley got us we'd be in safe hands and wouldn't be going through this mental torture anytime he was in control....

According to Nixon, the £45 m was split about £21 m for the club and £24m for the stadium. Whether i think either sum is too much isn't really relevant, but the sum for the stadium is required to pay off MSD, who are the only creditor with any security. There is no indication that Morris will accept any less than that. FWIW I don't think it is too much , and Clowes for example is said to be willing to pay that, and that hasn't changed. What has changed is that CK seems to be struggling to pay his bit for the club. .     

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3 hours ago, PistoldPete said:

Isn't that what Nixon has said? Or have I misunderstood (always possible given the chaos around). Certainly from my limited experience of these things it's the receiving institution that would be holding things up.. it isn't Kirchner bank holding things up is it? 

Must be this end as Nixon claimed he had seen it

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2 minutes ago, Caerphilly Ram said:

So come 5pm if Kirchner hasn’t sorted the funds Morgan can theoretically swoop in, and then become the new preferred bidder? Provided he has the funds 

Most accurate piece of reporting on here over the past number of weeks is the name of the Twitter account asking the question to Nixon 

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7 minutes ago, PistoldPete said:

According to Nixon, the £45 m was split about £21 m for the club and £24m for the stadium. Whether i think either sum is too much isn't really relevant, but the sum for the stadium is required to pay off MSD, who are the only creditor with any security. There is no indication that Morris will accept any less than that. FWIW I don't think it is too much , and Clowes for example is said to be willing to pay that, and that hasn't changed. What has changed is that CK seems to be struggling to pay his bit for the club. .     

From what has be said CK moved the money on 19th may and it has been stuck in an account waiting for clearance by the laundering authority. Nixon did say yesterday two banks and a clearing house though 

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4 minutes ago, Caerphilly Ram said:

So come 5pm if Kirchner hasn’t sorted the funds Morgan can theoretically swoop in, and then become the new preferred bidder? Provided he has the funds 

I don't think "swoop" is the right word. Engaging with a new PB sets us back weeks. Less of a swoop - think more of a turtle mounting us 

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