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The Administration Thread


Boycie

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1 minute ago, RadioactiveWaste said:

Guess 8am eastern us time?

But his money was allegedly in a "European clearing house"

He probably cancelled that transaction and sent again via different method. To be fair no one else is putting the cash up so far by the sounds of things so he might have a bit of time yet.

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2 hours ago, Animal is a Ram said:

https://www.patreon.com/posts/derby-under-from-67711300 - per @RoyMac5's post

Key points:

Clubs want Derby out if buyer not found - hence the EFL saying they're getting involved
Trevor Birch was due to meet, but called it off after it was leaked
Derby won't be offered a place in L2 if it fails
CK said money will be there TODAY (Monday) "one way or another" - he's back in US to finalise his plan B while the initial money clears AML

                                    

                                                   Oh No Oops GIF by Tesco  sums up the whole fiasco

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10 minutes ago, Oldben said:

Q need to move forward with the sale, today should have been the last deadline for ck.

Ck pays up by 5pm today, or Q dismisses him from being in the running to buy the club. Failure to provide funding.

We then move forward with MA.

Why is it so hard for Q to do this.

I know they've removed the preferred bidder status from ck, but in itself, that doesn't seem like it's enough.

So you set the deadline for 5pm tonight. Then the money turns up at 5.01 pm are you going to send it back?

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Just now, tomsdubs said:

He said he'd already cashed out a couple of years back.

It was tongue in cheek really, delay and all that 

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3 hours ago, RoyMac5 said:

Well he's already not financially astute, paying too much for us! ? Whilst Nixon goes on about the deal being the least admin would accept that was because he chose not to wait for the point we are at now. But anyway I'm sure if it doesn't work out he'll be able to flip us!

CK has done what he thinks is right so the creditors get 35% and we start next season on a level playing field, whilst minimising his initial outlay.  He’ll also have money coming in over 3 years to help pay creditors.

You seem to be advocating MA paying less, giving the creditors even less and us starting on -15 points and facing a relegation battle?

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6 minutes ago, tomsdubs said:

He probably cancelled that transaction and sent again via different method. To be fair no one else is putting the cash up so far by the sounds of things so he might have a bit of time yet.

 If his bank really did send the original payment via a European (mainland) bank rather than directly to the UK (and specifically Q’s bank) then someone has been so negligent that it’s hard to believe. As has been mentioned before, the only reason a third party bank (alleged European Clearing Bank) would be used is if his bank in the US had no relationship with Q’s bank and, even less likely, a relationship with any UK bank at all. Sorry, none of it stacks up to me but I hope I’m wrong.

Even if it really did go the another European bank (maybe he’s got an account with one) getting it from there to the UK wouldn’t really be a problem (subject to the usual financial crime prevention check which any replacement transfer would also be subject to).

 

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Just now, RadioactiveWaste said:

I'm not sure what precisely he said he cashed out of. Did he say he's out of crypto assets entirely or was it that he cashed of bitcoin but bought loads of other crypto assets?

 

From memory I've only seen him reference Bitcoin but there could be other stuff.

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21 minutes ago, Oldben said:

Q need to move forward with the sale, today should have been the last deadline for ck.

Ck pays up by 5pm today, or Q dismisses him from being in the running to buy the club. Failure to provide funding.

We then move forward with MA.

Why is it so hard for Q to do this.

I know they've removed the preferred bidder status from ck, but in itself, that doesn't seem like it's enough.

What would be the point in dismissing him. By all accounts Quantuma have opened it up to all the parties now so it's whoever gets it done first. 

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If we don't get news today I'm pretty sure we're going kaput

About 5 different people all claiming that they have the money to complete immediately. Nobody has exclusivity and nor is there time for an exclusivity period.

If nobody gets their money over the line today there is obviously something hideously wrong that makes us impossible to be saved

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3 minutes ago, RadioactiveWaste said:

I'm not sure what precisely he said he cashed out of. Did he say he's out of crypto assets entirely or was it that he cashed of bitcoin but bought loads of other crypto assets?

 

He claimed on Twitter that he had got out of crypto a while ago.

Note the use of the words 'claimed' and 'twitter' and judge how confident I am in the statement ?

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21 minutes ago, Oldben said:

Q need to move forward with the sale, today should have been the last deadline for ck.

Ck pays up by 5pm today, or Q dismisses him from being in the running to buy the club. Failure to provide funding.

We then move forward with MA.

Why is it so hard for Q to do this.

I know they've removed the preferred bidder status from ck, but in itself, that doesn't seem like it's enough.

1. There’s no point putting CK out of the running at this point, if he comes up with the goodies everything can be sorted pretty quickly.

2. Another bidder offering less would take far longer to renegotiate creditors. If that was to happen the EFL would pull the plug.

3. if Ashley wants the club then where’s his bid? As far as we know all he’s done so far is lurk in the shadows saying he’s ‘interested’.

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