The Administration Thread

[G STAR RAM]

1 hour ago, alram said:

yes it is.

 

mel is an unsecured creditor. he is writing off his loans as things stand, that could change if we wakes up and decides differently.

 

please dont talk about being factually incorrect when everything you have said is factually incorrect

Ok maybe you will be kind enough to download the administrators report and highlight the directors loan account.

I wouldn't spend too long looking for it if I was you though because it doesn't exist.

Don't worry about an apology either when you realise you actually dont understand what you are going on about.

[PistoldPete]

37 minutes ago, RoyMac5 said:

Yes there are losses on low bids - we've been placed in administration - but who says if they'll accept them or not? 

This is all coming down to who blinks first. Not sure Q know how to deal with it.

If there are bidders for the stadium and club combined it's not entirely up to Q on whether the bid is accepted. The bid is then conditional on Morris accepting a reduction on his asking price, something over which Q has no control. 

[G STAR RAM]

29 minutes ago, CornwallRam said:

But that is exactly what the figure that you have quoted for Stoke includes. 

I'd also say that your premise that we didn't owe that figure is a little shaky as it's listed as an unsecured debt in the administrators' report.

Just because it was 'borrowed' from one of Mel's other companies, does not mean it didn't exist or was unrecoverable. It was not equity or a director's loan. It's possible that it became unrecoverable as soon as Gellaw went into administration though, so Mel had no choice but to write it off.

No it is not.

Stokes owners have put their money in as loans. 

The money put into DCFC was as equity. 

Please show me where on the administrators report, there is an unsecured creditor in DCFC for £123m.

[Sean]

Not sure how trustworthy this is, of course.

[Boycie]

4 minutes ago, Sean said:

Not sure how trustworthy this is, of course.

This has been said already, local short term investors are willing to fund the club in the interim period.

[Turk Thrust]

1 hour ago, alexxxxx said:

What I meant is data belonging to individuals.. not business' data.

That’s right, nothing to do with business data, it’s the personal data a business holds

[alram]

15 minutes ago, G STAR RAM said:

Ok maybe you will be kind enough to download the administrators report and highlight the directors loan account.

I wouldn't spend too long looking for it if I was you though because it doesn't exist.

Don't worry about an apology either when you realise you actually dont understand what you are going on about.

you know its okay to be wrong about something

 

i have been wrong on plenty of things but this is not one of them. 

 

swallow your pride and accept you are wrong. you have no understanding of the situation.

Edited June 19, 2022 by alram

[Oldben]

I can see why buchanan is disputing his contract extension, but for certain derby would have not allowed that level of talent to leave for free.

Surely Q wouldn't be that incompetent!

 

[G STAR RAM]

11 minutes ago, alram said:

you know its okay to be wrong about something

 

i have been wrong on plenty of things but this is not one of them

 

swallow your pride and accept you are wrong

I will when you show me the directors loan account in the administrators report for DCFC.

As an accountant I'm extremely confident in what I am saying. 

Would you mind me asking your credentials?

The irony of your edit ???

Edited June 19, 2022 by G STAR RAM

[Mucker1884]

Not caught up on recent pages yet (currently reached p. 2107) so forgive me if this is now out of place and/or irrelevant...

 

I don't think it's a case of defending Q (God forbid!) but even given The EFL's power, Q cannot just go blabbing details to them without express permission from the bidders.  To do so would leave them (Q) wide open to recourse, be that from said bidder(s), their own professional governing body, or... as seems most likely... from both!  And most likely through law courts!

As the governing body, I guess The EFL can demand such information (?)
As the Administrators, I guess Q can then advise the bidders that any information may/will be passed on to the EFL, and if that is not acceptable (to the bidder(s)) then they would be free to drop out of the running, and withdraw their bid(s).

 

As it stands, the words "Rock" and "Hard place" stand out like a sore thumb, and for once, Q deserve just a tad of sympathy/understanding/leeway.

 

*All merely personal opinion, with no actual "Facts" offered, known, or understood!

 

?

 

[I know nuffin]

1 hour ago, Caerphilly Ram said:

I know you’re on the only side that matters, that of Derby County and all the rams fans. Just asked you as I knew you’d have the insight to answer so thank you for doing so ? 

I can understand the frustration, there should be a way for us to contribute proactively for those with money who wish to do so. Q could write up T&Cs for a raffle for example that make it clear what the prize is, what the money generated will go towards and also a “what if” clause for if the club were to go under and the prize be null and void. I appreciate what another poster said about funds raised being redirected to service the debt but that isn’t what happened with money raised from tickets, merch, food and drink last season is it? So I wonder if there’s something within the admin rules that allow moneys generated through the business as an ongoing concern to continue being used as running costs.

The danger in this which was stated right near the start was for fans that really could not afford to donate money actually donating as their heart ? over ruled their heads and they put themselves into a bad financial position. That was around the time the collection to buy seats for those who could not afford them started. Never understood though why a cap was not passed around companies and quietly around very rich individuals 

[Joe]

what is the proof of funding worth if we cannot sign players due to administration!!

[Mr. P]

16 minutes ago, Joe said:

what is the proof of funding worth if we cannot sign players due to administration!!

EFL won’t give two flying f***s about that, they just want us to see the season out. 

[Oldben]

https://www.derbytelegraph.co.uk/sport/football/football-news/derby-county-efl-trevor-birch-7224615

Q are at last fighting a deadline.

I don't believe they have enough capital to start the season, can't show proof of funds to the efl.

At last Q must declare a preferred bidder, and not wait longer.

I'm surprised no one's thought of suing Q for emotional stress caused to the fans.

My solicitor seems to think this is possible. 

 

[inter politics]

If anyone connected to the group reads our current Dear Deidre forum, please Andrew Appleby and co, get this deal across the line as soon as possible so we can get back to enjoying the game (more off the pitch than anything else) again.

[Comrade 86]

50 minutes ago, alram said:

...you have no understanding of the situation.

[Wolfie20]

10 minutes ago, Oldben said:

https://www.derbytelegraph.co.uk/sport/football/football-news/derby-county-efl-trevor-birch-7224615

Q are at last fighting a deadline.

I don't believe they have enough capital to start the season, can't show proof of funds to the efl.

At last Q must declare a preferred bidder, and not wait longer.

I'm surprised no one's thought of suing Q for emotional stress caused to the fans.

My solicitor seems to think this is possible. 

 

I hope he didn't bill you for that little gem of advice.

[Sparkle]

2 hours ago, angieram said:

Can you tell me what it is then GStar? Because it was definitely covered at the time when we were discussing going to play our football elsewhere as something that Mel Morris would demand if we did abandon Pride Park. I recall it was as an unsecured creditor because the actual cost of adding it to the club's debt at 25% would have been around £32 million.

If it wasn't a loan, what was it? Are you saying it was a different form of investment,  I seem to recall the word equity being used at the time? 

Are we arguing here about what is is called, or whether he could do it? 

I suspect if all the so called declared deals get done MM doesn’t want that portion of money back but if no one buys the stadium at his requested price then he will and it’s all sat in a type of house buying chain - so he is in complete control of what will and can happen. 

[Woodypecker]

If we're suing Q, then we should double our money and sue the EFL too!

Then donate the compensation awards to the DCCT!

[CornwallRam]

1 hour ago, G STAR RAM said:

No it is not.

Stokes owners have put their money in as loans. 

The money put into DCFC was as equity. 

Please show me where on the administrators report, there is an unsecured creditor in DCFC for £123m.

You are completely missing the point that it is not just the club in adminstration. It is the group of companies which I listed earlier that are in joint administration. Consequently,  their liabilities have to be considered jointly.

You are completely mistaken in your premise.

If you take some time to actually read the administrators statement at Companies House, you might begin to understand your mistake. You cannot separate out one company from the rest in a joint administration.