The Administration Thread

[NottmRAM]

36 minutes ago, DerbyRevolution said:

If Rooney went in the next week or so would any of the bidders follow suit?

When has it worked in our favour when a manager has walked away?

Edited June 16, 2022 by NottmRAM

[PistoldPete]

40 minutes ago, Red Ram said:

There was no way they were ever going to agree to that though. It would have meant (by default) taking the side of one member club against another . They would have put themselves at the risk of legal action if they had. Can't really understand why Quantuma ever thought it was a viable option. Their cross class cram proposal complied with general UK insolvency law (due to the 2020 changes) but seemingly failed to take into account the football-specific reqiurements i.e. the EFL insolvency policy, which was just as important in the context of Derby County.

The impression created is that they hadn't kept one of their key stakeholders (the EFL) informed of what they were intending and were consequently completely shocked when the EFL inevitably said there's no way you can keep your golden share if you pursue that course of action.

Ian Redfern from Black and White Together summarised this very well at the time

https://www.dcfcbawt.org/post/efl-quantuma-s-position-here-s-bawt-s-ian-redfern-s-view

 

Is This guy at Bawt a  lawyer? Q’s position was that insolvency law protects their client against claims during insolvency period. yet EFL and Boro we’re still trying to circumvent insolvency law. There is no way that the court would have allowed that. 
 

that’s why Gibson had to pursue Morris in the end instead. And it was pointless him pursuing us anyway as we have no money. 

[Eatonram]

14 minutes ago, CBX1985 said:

He'e expensive.  Probably the reverse - as would bring more money in, reduce costs... and wouldn't have fans furious first choice taken was to allow him to depart.

Does anyone know for certain what Rooney is paid?? I rather suspect he is paid (or takes) a lot less than people think and certainly not the 90K figure often bandied around.

[Stive Pesley]

1 minute ago, PistoldPete said:

Is This guy at Bawt a  lawyer?

He's certainly something!

Hi latest tweet is hilarious

It "almost feels" like he has completely made up a scenario in his head and is now willing it to be true so he can moan about it

[Ramarena]

17 minutes ago, Stive Pesley said:

He's certainly something!

Hi latest tweet is hilarious

It "almost feels" like he has completely made up a scenario in his head and is now willing it to be true so he can moan about it

Im betting (and hoping) its a complete falsehood.

That said the Cook/Stretton/Rooney/Kirchner love in always felt very concerning, plenty of conflict of interest, so it’s not really a surprise to see conspiracies starting to form.

Edited June 16, 2022 by Ramarena

[TheresOnlyWanChope]

1 hour ago, RoyMac5 said:

He held out until after the March when Morris finally decided to help us.

Morris decided to help HIMSELF knowing the club needed to be sold to help a sale of the ground or lease of the ground. The club is dying mainly because of the actions of one man. I don’t think the existence of DCFC was under threat even when under the three amigos. What’s happening is criminal.

[PistoldPete]

18 minutes ago, Stive Pesley said:

He's certainly something!

Hi latest tweet is hilarious

It "almost feels" like he has completely made up a scenario in his head and is now willing it to be true so he can moan about it

I have no idea what he is talking about. Neither does he I’m afraid. 

[CornwallRam]

1 hour ago, Elwood P Dowd said:

I am sure when I read through the  EFL regulations some months ago the was a penalty for not paying the creditors a certain %, this is, of course, if a club were to avoid liquidation and had found a “genuine” buyer. ?

The outtake  I posted above deals with the penalties if a club goes into Liquidation.

The above is the penalty for entering administration, not liquidation. The penalty for liquidation is being a former football club.

[MackworthRamIsGod]

I have a feeling Kirchner has damaged our takeover hopes more than we know. If he had no intention of completing a deal, there is every chance he has agreed to a deal which is far higher in cost than most, or any, interested party are willing to meet. If that is the case it means a lengthy process. Bloody hope I'm wrong on that front.

I'm resigned to the fact that we are in a very similar position to what Bolton were in a few years back.

Rooney will be gone, we will have kids, who will either sink or swim, over time we will add and build. 

Anything better than that I will be happy.

[RoyMac5]

2 minutes ago, MackworthRamIsGod said:

I have a feeling Kirchner has damaged our takeover hopes more than we know. If he had no intention of completing a deal, there is every chance he has agreed to a deal which is far higher in cost than most, or any, interested party are willing to meet. If that is the case it means a lengthy process. Bloody hope I'm wrong on that front.

I'm resigned to the fact that we are in a very similar position to what Bolton were in a few years back.

Rooney will be gone, we will have kids, who will either sink or swim, over time we will add and build. 

Anything better than that I will be happy.

What do you reckon Appleby (&co) have bid then?

[ram59]

5 hours ago, uttoxram75 said:

This chap?

Laurence Bassini, who is looking to buy into Birmingham City, has been declared bankrupt twice and, in behaviour that wis definitely not 'shady', changed his name by deed poll after the first one. And he was banned from all football for three years, too.

I've just checked him out on 'Wiki', it's scary to think that someone like him could get anywhere near another club. If I was a Blues fan, I would be extremely worried atm.

This is where the EFL are letting down clubs and fans, they should be stopping these people from passing the fit and proper test.

[PistoldPete]

5 minutes ago, MackworthRamIsGod said:

I have a feeling Kirchner has damaged our takeover hopes more than we know. If he had no intention of completing a deal, there is every chance he has agreed to a deal which is far higher in cost than most, or any, interested party are willing to meet. If that is the case it means a lengthy process. Bloody hope I'm wrong on that front.

I'm resigned to the fact that we are in a very similar position to what Bolton were in a few years back.

Rooney will be gone, we will have kids, who will either sink or swim, over time we will add and build. 

Anything better than that I will be happy.

Wigan went through three preferred bidders. Poo happens. Wigan are Back in the championship at second time of asking. 

[Sparkle]

3 hours ago, StarterForTen said:

My understanding (though not ITK on this) is that EFL membership is lost if we fail to pay football creditors in full. If the football creditors are paid in full, but the exit from administration otherwise fails the EFL's rules (for example on the minimum terms to all non-football creditors) then a points penalty is likely.

What I am not at all sure about is what the exit rules are for preferential creditors that are not classed as football creditors (for example HMRC) but I would suggest they will fall into the same 25% (35% over three years) bracket as unsecured creditors. If that is the case, then the difference between no points penalty and a points penalty might be as much as £10m.

 

All these ever changing EFL rules certainly put a distressed business/ club in even more danger of not being saved - is that what they are designed to do ?

[TheresOnlyWanChope]

3 minutes ago, PistoldPete said:

Wigan went through three preferred bidders. Poo happens. Wigan are Back in the championship at second time of asking. 

Had lots of debts written off and different rules for HMRC I think. Hopefully DcFC can survive 

[MackworthRamIsGod]

7 minutes ago, RoyMac5 said:

What do you reckon Appleby (&co) have bid then?

Well Q described it as credible.

I take anything that Q say to be hyped.

For me, I'd say if Appleby had bid the required amount and Morgan and Ashley were still dicking about, I'd say Appleby would be home and dry, time is that precious. Not sure the EFL would allow us to sit there waiting for a bidding war, if someone has bid enough.

[Mostyn6]

1 hour ago, Leeds Ram said:

Not sure how you come to that conclusion. It was undoubtedly wasted time, as the time we could have spent getting a deal over the line with a credible buyer was wasted on crypto boy. The fact that buyers haven't had a bid accepted as of yet doesn't mean that those precious 2 months weren't completely and utterly wasted.

there is no rationale for your assertion anyone would've made an acceptable bid (we need acceptable, not credible)

1 hour ago, RoyMac5 said:

But at least one bid has gone in, less than a week after CK's bid was withdrawn. The time was wasted, other bidders could have offered low bids to let Q know they were expecting too much for no assets.

If the bid was worthy, it would've been accepted. It's not, it's clearly not good enough.

1 hour ago, Topram said:

Whilst we wasted 2 months on him no one else could make a bid due to exclusivity? 

But nobody wanted to make a proper bid anyway, before or after.

[TomTom92]

12 minutes ago, MackworthRamIsGod said:

I have a feeling Kirchner has damaged our takeover hopes more than we know. If he had no intention of completing a deal, there is every chance he has agreed to a deal which is far higher in cost than most, or any, interested party are willing to meet. If that is the case it means a lengthy process. Bloody hope I'm wrong on that front.

I'm resigned to the fact that we are in a very similar position to what Bolton were in a few years back.

Rooney will be gone, we will have kids, who will either sink or swim, over time we will add and build. 

Anything better than that I will be happy.

Exactly this. 

I've been quite ignorant to Bolton's woes but from memory they had to play the kids for a fair few weeks. I imagine this will be the same as us and then come deadline day we may be able to start bringing in some experienced players. But the likelihood of us being on a League 2 tour next season is increasing by the day. 

[Elwood P Dowd]

1 hour ago, Leeds Ram said:

Not sure how you come to that conclusion. It was undoubtedly wasted time, as the time we could have spent getting a deal over the line with a credible buyer was wasted on crypto boy. The fact that buyers haven't had a bid accepted as of yet doesn't mean that those precious 2 months weren't completely and utterly wasted.

CK the  Crypto Kid  has a certain cowboy ring to it, he was defiantly a cowboy. 

[GB SPORTS]

1 hour ago, Woodypecker said:

'Not smart' in that way (allegedly provoking Gibson) doesn't mean not good overall - we were playing well and in with a chance of survival....was Rooney supposed to publicly bemoan our fate and say 'We're ducked', like Paul Jewell did?

Wayne's spirit of defiance transferred to players and fans.

IMHO, the EFL wanted 'assured relegation' anyway and engineered the January player exodus / sustained embargo, this after blocking Q from naming a PB when EFL cronies doggedly elected to ignore the issue of parasite creditor status, nixing any takeover.

So after the EFL spun out the calendar, they now finally realise it's 11.59 pm, and decide to intervene. Bucket-load of shyte. 

 

Exactly this.

[Joe]

48 hours i reckon until the EFL say erm the fixtures are out next Thursday you might not be in them.