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The Administration Thread


Boycie

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Like others have said on here - I worked in one business that had a head of departments structure. But everyone knew the heads had literally no say or power, a director above them dictated all and pretty much wouldn’t listen to anyone. Now none of us can really know what went down under Mel but I think it’s clear at the centre of all our problems, Sam rush, Keoghs sacking, points deductions, admin etc is one man. If Clowes decide Pearce is good in his role that’s good enough for me. But he will need to be part of the rebuild of the club to be forgiven in the long term in most eyes. 

Edited by Ramos
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On 14/07/2022 at 21:38, FlyBritishMidland said:

Since we went into administration I’ve wondered how much Pearce was to blame and the fact that Quantuma kept him around, and now DC, makes me think he was just following orders.  If he has a weakness, it’s probably that he’s too much of a yes man.

This seems right - Q went out of their way at one stage to state that SP had been very helpful to them. I suspect Pearce regrets not standing up to MM 

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On 14/07/2022 at 08:09, Ellafella said:

Indeed; if you just put to one side the very near fatal existential threat to Derby County FC established 138 years ago under Pearce’s watch, it’s a blinder. I’m sure Nick Leeson would’ve been re-employed by Barrings Bank if they’d still existed after he’d accidentally traded them to collapse. 

Good point, it would be as stupid as giving Rishi Sunak the Chancellors job after his part in the banking crisis of 2008............

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15 hours ago, Tamworthram said:

100%. So let’s hope we don’t have any songs about Stephen Pearce, get out of our club. In fact, I’d prefer us to look to the future and drop any songs about MM as well. Possibly even the  “xxxx the EFL” unless it’s in support of another club currently suffering when we play them.

Ideally we should perhaps leave the EFL out of it and make it a bit more personal to Rick Parry. The individuals who make decisions that create hardship should feel a bit more personal pain.

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  • 2 weeks later...

Useful article as it sets out some 'facts' which might help to kill off most of the speculation (but I won't hold my breath). 

Interesting that Percy says the HMRC debt will be settled next month "after a deal was done" which I was sure all along would happen. That should send a few "experts" in Nottingham and Bristol into a tailspin..... 

Edit : it's already started ? 

And the Gumps still don't realise that "precedent" doesn't apply to HMRC settlements. They weigh up what is best for the taxpayer in the long term. Now, at least, they can reach their own agreement with the debtor, not be outvoted by unsecured creditors. And that's what they've obviously done here. 

 

Edited by Crewton
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5 minutes ago, RoyMac5 said:

I wonder how much they really paid for Plange, and perhaps they felt we owed them a deal?! ?

The only club that seem to have helped us was Arsenal if everything is to be believed and it seems we still owe them £5 million which is another reason to receive transfer money for Byrne and Buchanan 

Edited by Sparkle
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16 minutes ago, Sparkle said:

The only club that seem to have helped us was Arsenal if everything is to be believed and it seems we still owe them £5 million which is another reason to receive transfer money for Byrne and Buchanan 

At least it confirms what I had said a number of times .. we don’t owe Arsenal £8m for Bielik more like half that sum.

Not sure why player wages should be capped for 2 years .. what if we are promoted this year , why should player wages be capped in the Champion ship?

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23 minutes ago, Crewton said:

Useful article as it sets out some 'facts' which might help to kill off most of the speculation (but I won't hold my breath). 

Interesting that Percy says the HMRC debt will be settled next month "after a deal was done" which I was sure all along would happen. That should send a few "experts" in Nottingham and Bristol into a tailspin..... 

Edit : it's already started ? 

And the Gumps still don't realise that "precedent" doesn't apply to HMRC settlements. They weigh up what is best for the taxpayer in the long term. Now, at least, they can reach their own agreement with the debtor, not be outvoted by unsecured creditors. And that's what they've obviously done here. 

 

So essentially, the agreement to exit administration had a schedule for payments to creditors which are being made by the club's new ownership with no further issues raised at this point.

I'm sure some corners of the internet will be foaming at the mouth with rage that this latest news has resulted in our immediate expulsion from the league!

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11 minutes ago, PistoldPete said:

Not sure why player wages should be capped for 2 years .. what if we are promoted this year , why should player wages be capped in the Champion ship?

Because we are on a business/payment plan. So until that plan is finished and all payments made to creditors who agreed to that plan to come out of administration we are under certain limitations. 

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7 minutes ago, RadioactiveWaste said:

So essentially, the agreement to exit administration had a schedule for payments to creditors which are being made by the club's new ownership with no further issues raised at this point.

I'm sure some corners of the internet will be foaming at the mouth with rage that this latest news has resulted in our immediate expulsion from the league!

Exactly that. Of course, they'd want their own club to be liquidated rather than HMRC or any other creditors lose a single penny in the £, of course they would. So they'll foam at the mouth regardless of how much DC pays and, even if he paid all the club's debts in full, they'd foam at the mouth about something else. They've got an endless supply of foam, have the foamers. 

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