The Administration Thread

[Gringo]

6 minutes ago, Gisby said:

Not doubting what you say for one minute but I’m sorry this is 2022 right?? The age of digital technology!! The target date of today was set several days ago, why hasn’t all the pontificating you suggest been done prior to today?? Exchange of such & such day (sign contracts) and complete (transfer money) on the 29/06. Complicated or not it’s not rocket science surely!! ?‍♂️?‍♂️

Just getting all the documents typed and prepared would have taken a few days, and although heads of terms would have been agreed in the last 72 hours no way can a deal as complex as this be done on docu-sign.

[Gisby]

2 minutes ago, Wignall12 said:

Chill !!

I’m cool man ??

[Crewton]

26 minutes ago, alram said:

who cares? when it goes past the deadline they are bombared with messages anyway.

 

if you cant guarentee meeting a deadline then dont set one

would have thought they would have learnt that by now

 

It's not a deadline fella, it's a target - trouble is, allot of people embed it in their skulls as being a deadline. That ain't Quantuma's fault - you'd have thought people would have...etc etc

[Gisby]

1 minute ago, Charlotte Ram said:

Just getting all the documents typed and prepared would have taken a few days, and although heads of terms would have been agreed in the last 72 hours no way can a deal as complex as this be done on docu-sign.

Again I agree with you but we got to this stage with the Rhinestone Cowboy so surely most of the ducks should have been in a row already just a name change of the purchaser?? 

[Crewton]

If the EFL pipe up and say that if DCFC haven't been released from Administration by the Court by 5pm tomorrow then they won't be allowed to compete in the EFL this season - THAT'S A DEADLINE.

[Gisby]

1 minute ago, Gisby said:

Again I agree with you but we got to this stage with the Rhinestone Cowboy so surely most of the ducks should have been in a row already just a name change of the purchaser?? 

…. And the odd nought in a different place of course ??

[i-Ram]

23 minutes ago, Charlotte Ram said:

OK having attended many closings on deals like this, this is what happens,

1. The closing will take place at a lawyers office

2. All the documents to be signed are laid out on a big table typically 20ft x 8ft 

3. Most documents run to many pages in many cases up to 50-60 pages each document, each page has to be read and signed and then countersigned by a witness , typically the lawyer handling the transaction.

4. All of this takes many hours, I have completed S+P agreements at 4.00am having started before lunch the previous day.

5. Only when all is signed does the money get transferred, as there is a charge holder , MSD then they will have their legal team there too.  

I do not expect the deal to be completed today.

As @Gisbysays above, surely in 2022, and after the reforms in work processing as a consequence of COVID, nobody is printing reams and reams of paper to put on a big table typically 20ft x 8ft, expecting lawyers representing every party to come tripping through the office.  MSD’s Legal Team you would think are much more likely still enjoying a piss-up after getting their clients debt cleared with the purchase of the stadium 12 days ago.

[RedSox]

12 minutes ago, Gisby said:

Not doubting what you say for one minute but I’m sorry this is 2022 right?? The age of digital technology!! The target date of today was set several days ago, why hasn’t all the pontificating you suggest been done prior to today?? Exchange of such & such day (sign contracts) and complete (transfer money) on the 29/06. Complicated or not it’s not rocket science surely!! ?‍♂️?‍♂️

I take it you don’t work in the legal profession then? ?

3 days is staggeringly quick - if indeed it is  3 days (and nights). 

[Comrade 86]

2 minutes ago, Gisby said:

Again I agree with you but we got to this stage with the Rhinestone Cowboy so surely most of the ducks should have been in a row already just a name change of the purchaser?? 

All that bolarks is sorted. It's finding a 20 x 8 foot table that's causing the issues.

[EraniosSocks]

What you all had for tea?

[Abu Derby]

Heard that Rosenior was meant to be on wireless earlier but had to withdraw, or something pulled him off. 
Could be something about to break. 

[Ram-Alf]

1 hour ago, Boycie said:

He’ll find out about the deal being completed before us though, so this is good yeah?

If he's up early enough yeah, But then again if she's still asleep ?

[Tyler Durden]

3 minutes ago, i-Ram said:

As @Gisbysays above, surely in 2022, and after the reforms in work processing as a consequence of COVID, nobody is printing reams and reams of paper to put on a big table typically 20ft x 8ft, expecting lawyers representing every party to come tripping through the office.  MSD’s Legal Team you would think are much more likely still enjoying a piss-up after getting their clients debt cleared with the purchase of the stadium 12 days ago.

Thanks for quoting the original poster, I do like reminders from time to time to help me remember why I've blocked certain members on here ?

[RoyMac5]

2 minutes ago, EraniosSocks said:

What you all had for tea?

I'm posh, we have dinner. ?

[WystonRam]

5 minutes ago, Charlotte Ram said:

Just getting all the documents typed and prepared would have taken a few days, and although heads of terms would have been agreed in the last 72 hours no way can a deal as complex as this be done on docu-sign.

Legal teams love paperwork as it extends their hours of involvement, and income. I recently had a novation of contract to sign, which i and my supporting signatory did. It was rejected because the date of signing we added was not the date of the document creation, but when we actually signed it. It was sent back for us to change the date on page 1, which wasn’t the legally required date,  our signatory dates were correct. I asked the legal team in question why they couldn’t just change the date, they would have full auditable evidence of when the received it, but they refused and asked me to change the date and send it back . They fully understood and instructed us what to change, but of course this made them money. I am sure this whole takeover business is prolonged for the benefit of the legal people.(sorry for being cynical)  

[Bris Vegas]

 

Meanwhile Rick Parry watches on.

[IncredibleKoosh]

2 minutes ago, Abu Derby said:

Heard that Rosenior was meant to be on wireless earlier but had to withdraw, or something pulled him off. 
Could be something about to break. 

Hopefully he's not done Knight in...

[Gisby]

3 minutes ago, i-Ram said:

As @Gisbysays above, surely in 2022, and after the reforms in work processing as a consequence of COVID, nobody is printing reams and reams of paper to put on a big table typically 20ft x 8ft, expecting lawyers representing every party to come tripping through the office.  MSD’s Legal Team you would think are much more likely still enjoying a piss-up after getting their clients debt cleared with the purchase of the stadium 12 days ago.

Exactly, we were told it was complicated because of the stadium involvement, well that was sorted nearly 2 weeks ago and we were told this has removed a massive hurdle. Now it’s claimed it’s complicated again!!! Can’t have it both ways it’s either complicated or it’s not. Too many excuses. Saying in my industry is JFDI …. 

[i-Ram]

Just now, Tyler Durden said:

Thanks for quoting the original poster, I do like reminders from time to time to help me remember why I've blocked certain members on here ?

Thanks for having me on your nice list.

[Gisby]

7 minutes ago, RedSox said:

I take it you don’t work in the legal profession then? ?

3 days is staggeringly quick - if indeed it is  3 days (and nights). 

You’d be surprised what industry I’ve worked in for the last 25 years … it’s very aligned with the legal profession …… why did they set a target date of 29/06 if it was never realistic (in your opinion) ??