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The Administration Thread


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1 hour ago, duncanjwitham said:

The EFL announcement specifically mentioned negotiating directly with bidders over the transfer of the golden share. If they negotiate to transfer it to someone that Quantuma don't agree with, then there will be a serious problem.  Regardless of whether you agree with the job Quantuma have done, they are the ones that are court-appointed to sort it out, not the EFL.

The EFL will be in the loop looking over Q shoulder that’s all. They don’t have any interest in doing their job for them whatsoever! They have others happy to take our golden share, we are relatively unimportant, just 1 in 72.

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15 minutes ago, Oldben said:

Logjam: A situation in which neither group involved in an argument can win or gain an advantage and no action can be taken!

The day ends with an impasse.

Q can't move forward without getting the minimum that the creditors are entitled to.

Potential new owners appear to be unwilling to offer more than the money they've offered.

I wonder if there's a potential route forward, I believe a business person, offered to buy the ground if ck paid the creditors the minimum amount.

If that offers still available but to any new potential offer, does that make paying just the minimum amount to the creditors, more affordable.

It would depend on the person who agreed to buy the ground as offer to ck, being willing to make the same deal to any other potential owners.

In any case why are Q not willing to listen to offers below the minimum payment to creditors, probably legally required to do that.

Yet I see no reason that the highest bid regardless of whether it meets the minimum amount to pay the creditors, couldn't be put to the creditors with the statement, its this amount or nothing.

Because if the club's liquidated, I think the creditors, will get less than the amount offered to them if the minimum amount owed to creditors is not met.

 

How do you calculate the minimum amount the creditors are "entitled to"?

They're entitle to 100% but, sadly, they're going to have to settle for less. How much less is dependent on the offers received.

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4 minutes ago, Foreveram said:

It’s set in Annesley woodhouse where I was born and lived till I got married. The crossbow murder was a few streets away from where we lived . The author went to the same school as my kids.

Must be interesting to see how it's depicted, but possibly annoying too when they get things badly wrong. 

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11 hours ago, LERam said:

So what happened.....

Who had lied to us? Because Efl/Q did checks and were convinced the money had been sent, Nixon also say proof

So why pull out?

Daft thought. Could it be because if he was chucked out he could not come back but if he withdraws he can come back if his cash is released. Just have a feeling we haven't seen the back of him

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1 minute ago, I know nuffin said:

Daft thought. Could it be because if he was chucked out he could not come back but if he withdraws he can come back if his cash is released. Just have a feeling we haven't seen the back of him

Going completely silent on Twitter is also odd. You'd have thought he'd at least say he's withdrawn from the deal and why.

Edited by Rammy03
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25 minutes ago, Oldben said:

Logjam: A situation in which neither group involved in an argument can win or gain an advantage and no action can be taken!

The day ends with an impasse.

Q can't move forward without getting the minimum that the creditors are entitled to.

Potential new owners appear to be unwilling to offer more than the money they've offered.

I wonder if there's a potential route forward, I believe a business person, offered to buy the ground if ck paid the creditors the minimum amount.

If that offers still available but to any new potential offer, does that make paying just the minimum amount to the creditors, more affordable.

It would depend on the person who agreed to buy the ground as offer to ck, being willing to make the same deal to any other potential owners.

In any case why are Q not willing to listen to offers below the minimum payment to creditors, probably legally required to do that.

Yet I see no reason that the highest bid regardless of whether it meets the minimum amount to pay the creditors, couldn't be put to the creditors with the statement, its this amount or nothing.

Because if the club's liquidated, I think the creditors, will get less than the amount offered to them if the minimum amount owed to creditors is not met.

 

Assume Q cant move forward as assume those potential buyers need a few days to let their advisers go over the ? that MM has left behind. Again CK may have accelerated this as accountants and lawyers are boring and generally ask the same questions to cover their bums so hopefully the additional info and assurances requested by his team will hopefully all be available still. Then the advisers will come up with their so heavily caveated as to be unusable reports and hopefully someone at least isnt totally scared off and away we go again 

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50 minutes ago, NottmRAM said:

Wow, you're rattled. Calm down before you give yourself a coronary. I'm optimistic we can get a buyer without -15. You're a pessimist. 

Not rattled at all , I’m interested and asked the question who YOU were calling for when slating the call for Ashley brigade , care to tell us ?

also stated that it’s by no means certain Ashley means 15 points deduction so not really being pessimistic 

whoever saves derby I will be happy as long as we are saved , derby have been here before and always ups and downs ,unless we cease to exist , so yes I’m in the call for Ashley brigade because he’s the only one I know for certain has the money to buy ,sustain and even take us to the prem IF that’s what he chooses and he says he wants the club

Edited by Archied
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4 minutes ago, I know nuffin said:

Daft thought. Could it be because if he was chucked out he could not come back but if he withdraws he can come back if his cash is released. Just have a feeling we haven't seen the back of him

I've convinced myself that the money will never clear because it has never been sent. If it was taking this long just to clear regulatory checks then I reckon there must be something seriously suspicious about it.

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4 hours ago, ram59 said:

Whilst agreeing that promotion is very unlikely with a 15 point deduction, I disagree that relegation is a certainty. A mid table points haul would avoid relegation. I don't agree that no group of players will give 100%, there are plenty of players who are free agents, including current members of our squad, who would be over the moon to get a contract at Derby next season, playing in front of decent crowds and having top class training facilities, when the alternative is no contract anywhere.

The right manager and a supportive crowd would carry us to safety.

In the 2007 to 2008 season Leeds United incurred a 15 point penalty pre season but still finished 5th in the playoffs.

And this was with the great managerial expertise of Dennis Wise for half of the season. 

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2 minutes ago, Crewton said:

Must be interesting to see how it's depicted, but possibly annoying too when they get things badly wrong. 

Yes, although it is a dramatisation it’s the little things you notice like last night they referenced the “clubby” where the argument had taken place as a miners welfare when it’s actually a working mens club, the miners welfare is about half a mile away. Like I said it’s the little things. Enjoyed the Notts forest reference, their fans in meltdown about it.?

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6 minutes ago, I know nuffin said:

Daft thought. Could it be because if he was chucked out he could not come back but if he withdraws he can come back if his cash is released. Just have a feeling we haven't seen the back of him

Interesting angle. I suppose I’d be ok if it saves us, but the guy really does appear to be a quality snake oil salesman with a silver tongue. What a saga this is 

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9 minutes ago, Rammy03 said:

Going completely silent on Twitter is also odd. You'd have thought he'd at least say he's withdrawn from the deal and why.

So many things. Birch? Not coming from EFL, phoning instead. Did he know what was going to happen or was it what the EFL told CK or q what to do. Nixon going on about sensitive  plan B, which either didnt come off or we are in it now. All that money wasted, twitter silence. Just gives me that feeling something unexpected might happen.

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53 minutes ago, NottmRAM said:

Wow, you're rattled. Calm down before you give yourself a coronary. I'm optimistic we can get a buyer without -15. You're a pessimist. 

I am a fully paid up happy clapper but without a very rich dreamer I see -15 incoming 

We won’t be liquidated because the bottom price is achievable. In this market though, there aren’t many willing to gamble with such a high priced ticket and miserable odds. It isn’t the stadium .. there will be a lease deal, it won’t be the unsecured creditors .. that’s small beer, they will take what they can get, but the football creditor thing ? That’s the killer. 

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23 minutes ago, Tamworthram said:

How do you calculate the minimum amount the creditors are "entitled to"?

They're entitle to 100% but, sadly, they're going to have to settle for less. How much less is dependent on the offers received.

Efl potential points deductions will only be imposed if a new purchaser cannot meet the terms of the insolvency policy of 25p in £ on exit or 35p in £ over three years (to unsecured creditors). 

https://www.realbusinessrescue.co.uk/advice-hub/the-football-creditors-rule-what-is-it-and-what-does-it-mean-for-all-creditors

Here is information about what classifies as an unsecured creditor when looked at as the football creditors rule.

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