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The Administration Thread


Boycie

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9 minutes ago, PistoldPete said:

Well exactly . If there is any merit to Ashley’s claim then it is Derby fans and creditors who have lost out big time as a result of any failings by Q. 
 

daily Mail suggests it’s between Efl and q to be blamed for delays . I think that’s right everyone to blame here . 
 

but we need to crack on. Appleby bid sounds ok but still too low to Save us from points deduction perhaps?

Based on the excellent work by @Ghost of Clough and the reported £40m figure, the Appleby bid *should* swerve the points deduction.

Unless I've misunderstood his post.

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Just now, Stive Pesley said:

Does Clowes now actually own the stadium? That Mail article above suggests the deal took place in advance of the failed CK bid.

If so, and we end up liquidated, then that's one more person shafted by MM

I believe it's only a deal in principle at this stage. It may not be necessary if Appleby works out, or Ashley, given the noises he was making, but the option is there.

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8 minutes ago, Animal is a Ram said:

I believe it's only a deal in principle at this stage. It may not be necessary if Appleby works out, or Ashley, given the noises he was making, but the option is there.

I agree, I understood that the purchase of the ground was conditional on the Crypto Kid's takeover being completed. 

Edited by Elwood P Dowd
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14 minutes ago, Animal is a Ram said:

Based on the excellent work by @Ghost of Clough and the reported £40m figure, the Appleby bid *should* swerve the points deduction.

Unless I've misunderstood his post.

GoC always does excellent work. Which page was this on? was it pre 2022 or in the future?  

Edited by PistoldPete
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51 minutes ago, PistoldPete said:

Can anyone explain Ashley’s claim against quantuma. Apparently he was going to be named PB in Jan . But wasn’t. No one was, because all bids were conditional on the Boro claim that was sorted in February. 
 

he didn’t then come  in with a final bid until early May and then that as too low . His next bid was during  CK’s exclusivity period. He has not made a further bid but is said to be still interested in buying us. If so , I suggest he needs to get a move on . 
 

but what has he lost? Legal fees? Poor soul but I think he can afford it. 
 

Aren’t rams fans rather more concerned about the possibility of losing  their club and don’t give a stuff about Ashley’s legal fees?

Good point. Perhaps he was going to be preferred bidder but it was all dependent on the proposed cross class cram solution which would have rendered the Boro claim null and void?

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13 minutes ago, Stive Pesley said:

Does Clowes now actually own the stadium? That Mail article above suggests the deal took place in advance of the failed CK bid.

If so, and we end up liquidated, then that's one more person shafted by MM

Nobody knows if Clowes owns the Stadium as  most likely it would have been dependent on CK doing his final 

deal as well .

I think in all probability MM still owns the Stadium 

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17 minutes ago, Animal is a Ram said:

I believe it's only a deal in principle at this stage. It may not be necessary if Appleby works out, or Ashley, given the noises he was making, but the option is there.

It was more than in principle, but it was subject to us having a tenancy agreement which Kirchner couldn't sign until he completed his side of the bargain.  

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3 minutes ago, Animal is a Ram said:

According to that latest document:

From admins' appointment, £20.5m
Trading loan of £3.5m

Total up to 21st March, £24m. I don't believe any extra has been taken on since, unless anyone else knows to the contrary

Where do we think May's wages came from, a 'gift' or another MSD loan. Q have said mothing and who'd believe Nixon, right?! ?

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5 minutes ago, Red Ram said:

Good point. Perhaps he was going to be preferred bidder but it was all dependent on the proposed cross class cram solution which would have rendered the Boro claim null and void?

Yes so it then comes back to the point we were  discussing last night. Incidentally Q's preferred option was a CVA. 

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So, according to the companies house document- thanks @G STAR RAM, Gellaw  owes £123.4m to Mel who is listed as an unsecured creditor. 

So the questions are:

Does Gellaw count as part of the club - it's part of the cross-security arrangement for the MSD loans.

If so, doesn’t that give Mel a veto over any deal?

 

 

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1 minute ago, CornwallRam said:

So, according to the companies house document- thanks @G STAR RAM, Gellaw  owes £123.4m to Mel who is listed as an unsecured creditor. 

So the questions are:

Does Gellaw count as part of the club - it's part of the cross-security arrangement for the MSD loans.

If so, doesn’t that give Mel a veto over any deal?

 

 

Mel said this when he put us in Admin, he failed to say at the time he hasn’t paid a penny yet for the £80m purchase of the stadium. 

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