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The Administration Thread


Boycie

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15 minutes ago, atherstoneram said:

There would be no settling the bill with them later,it would be straightaway,if we couldn't pay then they would file for liquidation.

The problem is do we have any faith in their ability or conduct? something needs to change

 

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5 minutes ago, atherstoneram said:

There would be no settling the bill with them later,it would be straightaway,if we couldn't pay then they would file for liquidation.

I assume any payment would be held back under the 'hired gun ruling'.  i.e proof required that they are acting in the best regard of the creditors not directors.  The creditors or court can request this but in return creditors would need to accept a lower payment on completion if the court decided the original administrators had not acted in a hired gun role. Or the new owner would have a bill to pay.  It's doable but late at this stage as the administration work starts again. 

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14 minutes ago, Gee SCREAMER !! said:

Were you there in person.  Please fill me in on the regs and the thorough examination that took place. I'm rather more concerned with the s*** show that's developing and whether we have a club in a week.  There were red flags all over this bloke and the EFL would quite happily agree to a combination of Himmler and Goering buying the club if they fitted some of the minimal criteria. Things such as can you spell your own name.  Anything to pass the buck and declare their disappointment when it went tits up. 

The s*** show of this week and the fit and proper person test don't overlap. 

He had the money

He wasn't a crook

He had no bankruptcies or liquidations 

He hadn't misrun a football club before 

 

That's all you can expect them to check. 

 

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Just now, sage said:

The s*** show of this week and the fit and proper person test don't overlap. 

He had the money

He wasn't a crook

He had no bankruptcies or liquidations 

He hadn't misrun a football club before 

 

That's all you can expect them to check. 

 

Clearly not.  Once again, you can't argue a fit and proper person check unless you can lay out in front of me minutes of meetings and exact details of checks. You may need to bore someone else with this mate, your onto a loser. 

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4 minutes ago, Gee SCREAMER !! said:

Clearly not.  Once again, you can't argue a fit and proper person check unless you can lay out in front of me minutes of meetings and exact details of checks. You may need to bore someone else with this mate, your onto a loser. 

He showed Quantama and the EFL proof of funds. 

They both stated this. Are you calling them liars? 

P. S. 

As you are the one making an accusation, the burdon of proof is on you to provide evidence. 

 

Edited by sage
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2 minutes ago, sage said:

He showed Quantama and the EFL proof of funds. 

They both stated this. Are you calling them liars? 

What do you think of their competency ?

Show me the workings of the fit and proper person legislation in this instance. Your advising me it's thorough. 

Edited by Gee SCREAMER !!
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7 minutes ago, Gee SCREAMER !! said:

What do you think of their competency ?

Show me the workings of the fit and proper person legislation in this instance. Your advising me it's thorough. 

Again.... 

Tell us what specifically he would have failed on... At the time... Not with hindsight... Not with the frustration of today... 

What would he have failed on 

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Nixon stating he has see both proof of CK money and also proof of the bank transfer from CK on Mon which I would assume the EFL and Quantuma have seen. If CK has genuinely sent the money I cant see any other interested party getting a bid in & the paperwork etc sorted before this money lands (probably why he is still confident of the deal). If he sent it Mon just gone it could quite possibly land in the escrow account any day now, this Mon coming would be a week from the transfer, a lot of payments in general can take 5-10 working days.

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4 minutes ago, sage said:

Again.... 

Tell us what specifically he would have failed on... At the time... Not with hindsight... Not with the frustration of today... 

What would he have failed on 

You mean tell you. Your very much in the minority. Again... show me the minutes of the discussions and evidence of complete vetting. Until such time I'll base my opinion on the s*** storm that's been allowed to develop for the last two plus weeks and the lack of action that's left us where we are today as my barometer of competency, at this point and before. 

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5 minutes ago, sage said:

Again.... 

Tell us what specifically he would have failed on... At the time... Not with hindsight... Not with the frustration of today... 

What would he have failed on 

Am I wrong? He moved 20.4million to a specially opened account on 19th May. The administrators have see it there, the EFL have seen it there Nixon claims to have seen it there, so he has the Money and has sent it. The anti laundering side of the bank stopped it being cleared. Nobody knows when it will be cleared, could be hours, days or weeks. Depends on their workload and the checks they do

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2 hours ago, I know nuffin said:

Am I wrong? He moved 20.4million to a specially opened account on 19th May. The administrators have see it there, the EFL have seen it there Nixon claims to have seen it there, so he has the Money and has sent it. The anti laundering side of the bank stopped it being cleared. Nobody knows when it will be cleared, could be hours, days or weeks. Depends on their workload and the checks they do

Surely nobody can get this amount of money to the Admins before it really does clear ???

cant see who you blame here - certainly not CK who still intends to go ahead when the 

funds surface - is this right

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25 minutes ago, DesertRam said:

Surely nobody can get this amount of money to the Admins before it really does clear ???

cant see who you blame here - certainly not CK who still intends to go ahead when the 

funds surface - is this right

Certainly sounds like that from the last statement by administrators. On many ways all they have done is to cover their rear ends

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7 hours ago, PistoldPete said:

Can any club prove funding for a whole season?. All clubs are making losses, so if their owner pulls the plug they too will be out of money during the season. So if EFL withdraw membership from Derby for no other reaosn than they cannot prove something that no other club can prove either, then the EFL will only be proving what we know already , that they have a vendetta against Derby.  

It will have to be based upon a sound business plan, which would include confirmed income eg Season Ticket Sales, Cash at Bank, Secured Loans etc.

I guess all clubs will follow a similar budget plan just like any business.

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51 minutes ago, RipleyRich said:

It will have to be based upon a sound business plan, which would include confirmed income eg Season Ticket Sales, Cash at Bank, Secured Loans etc.

I guess all clubs will follow a similar budget plan just like any business.

No one with a logical thought process is going to pay up front for a season ticket for a football season of a club in administration and not one being messed about as badly as we have - well I wouldn’t anyway, buy a match ticket yes but no way a season ticket currently 

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5 hours ago, sage said:

The s*** show of this week and the fit and proper person test don't overlap. 

He had the money

He wasn't a crook

He had no bankruptcies or liquidations 

He hadn't misrun a football club before 

 

That's all you can expect them to check. 

 

To put it in perspective, the EFL confirmed some time ago that MM would still pass the Fit & Proper Person test.

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8 hours ago, Mckram said:

Out of interest, anyone any idea what/who it takes trump Quantuma? Sounds like we need a leader in place to take some direction and use Quantuma as the info/admin part. 

It’s a good point. They act on behalf of the creditors as their legal responsibility but presumably that same set of laws lays out a full set of obligations to the law to act with due diligence and appropriate professionalism. A doctor attends a patient but is subject to oversight by the general medical council. So what is an administrators equivalent of the GMC I wonder ? 

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Good Morning all, I hope you all slept well.

I spoke to my friend last night at 11-30pm, A little about my friend, He knows several ex DCFC directors, Had/Has business dealings with them and is an extremely good golfer and has a very good business, Yesterday at golf(no not with CK)he was with one ex DCFC director, This director fed him the information I gave and he said and I quote "I expect Steve Morgan to be the new owner come 5pm this evening".

Now this is where the fun starts, Q knew Monday afternoon there was an issue with the money but sat on it, They were blinded by CKs credentials and patter, Dawes breaks some news concerning wages being paid by someone at DCFC and not CK, The person who gave him this info was a senior DCFC player who was promised certain things, The player I do not know his name.

Q after Dawes revelations went into panic mode, My friend and Q knew of the wages not being paid to CKs employers on Wednesday, Some ex DCFC directors don't seem to be that impressed with CK, They think he's a braggart a little loud but likes to be liked, On a personnel note my friend thinks a little jealousy has crept in with how CK made his money...ie got lucky.

Q now have a mountain to climb, According to Dorset, Percy, Nixon, Dawes and anyone else who's reported the story they seem to be batting for their PB/Owner, Whether it be Morgan, Appleby, Ashley or even Kirchner who knows?‍♀️, Q and the EFL are at odds with each other and have been for several months, It looks like the EFL are trying to put all the blame on Q as the paperwork they saw for the fit and proper owner came from Q.

My friend said he stands by on what he was told yesterday, Most of us will have someone in our group that like to bluster and maybe give out a little BS, My friend is not one of those types, He's a genuine person who I'd stand up for and is not afraid to stand up for his mates.

Chins up all....Alf

 

 

 

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2 hours ago, EtoileSportiveDeDerby said:

 

 

Also begs the question if he we’re to get the club are we going to run into these problems again.?

when the wages need paying and transfer fee needs completing?

if the story in the athletic is true about him owing outstanding wages to some employees and 800k to a sponsorship deal he made then it really doesnt bode well

im starting to think we bin him off and just give MA the call.. let him get us for buttons, take the 15 point deduction and try .. try to rebuild and survive.

god what a depressing situation 

Edited by angieram
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