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The Administration Thread


Boycie

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18 hours ago, Shipley Ram said:

My glass is half full of p*ss. I'm feeling very despondent about the whole thing,

I prefer the Indian version. If you see two eyes glinting at you out of the darkness, an optimist will say “it’s a tiger”. A pessimist will say “it’s two one eyed tigers”.   At the moment I can see two one eyed tigers ? 

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2 hours ago, kevinhectoring said:

More than 500k. What if Ashley’s bid says: halve your fees and halve the legal fees you’ve wasted; and give that £ and some more to the unsecured creditors. Oh and I’ll withdraw my legal suit if I win. 
How does q react ?

Wish the EFL were on Q’s shoulder -  this would be fixed more quickly 

If you think the EFL could make the administrators come to a quicker outcome you live in a dream world.

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50 minutes ago, duncanjwitham said:

What does that even achieve though?  The MSD loan will still be secured against it, so the buyer will still be scrabbling around for an extra £20m+ somewhere.  All it does is remove the option of someone strong-arming Morris into forking something out for it.

And if you're talking about taking the stadium, but still leaving the MSD loan in Morris's hands, there's no way MSD will allow that as they have a security charge against it.  

Admin filing at 202 would give the administrator control over the stadium raising the possibility of grant of a long term lease to the club (MSD could consent to the lease). 
 

It would also allow transactions involving the stadium to be ‘blessed’ by court orders, making them difficult to challenge. 
 

But it’s complicated not least by MM’s rights of subrogation as guarantor, and the cross guarantees. Would love to see them find a way to do it but don’t think it will happen. 

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20 minutes ago, DCFC1388 said:

Yes its good news about Appleby but if he is doing interviews why isnt he speaking to the EFL to speed the owners test up

If his bid isn’t quite there yet as implied that’s possibly why he is not yet ready to talk to the EFL until he’s certain it’s happening. 

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2 hours ago, DCFC27 said:

Only if we are breaking a rule in Admin. We are not. Currently we have paid our way, haven't reduced salaries of players or missed payments without an agreement with the creditors. We are allowed to be in Admin until March 23. 

Our options going into the season (in  admin) 

 

1) we keep funding the club month by month, keep contracted players and make the rest of the team up of youth players. 

2) Provide proof the club can continue to trade for the full season on a break even budget, this will allow us to sign players externally, for example bringing in the likes of Morrison/Fozzy/Davies again as long as they are happy with £4k a week again. 

 

At some point next season you would hope the takeover has gone through. 

 

They have no grounds to remove membership. 

We were only allowed to fund month to month last season because we went into administration after the season had started,we won't be allowed that luxury this season.

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