The Administration Thread

[DarkFruitsRam7]

Can't help but feel Quantuma bigged up how much of an obstacle to selling the club Boro's claim represented.

I've certainly not been "pleasantly surprised" by the speed of progress since it was removed.

Edited March 18, 2022 by DarkFruitsRam7

[Charliegeorge1962]

As every week passes by it looks like the club will fold in the summer.

But there is always a phoenix from the ashes ......

[Carl Sagan]

In the previous 1073 pages this may have been covered, but why don't the administrators simply give a final deadline for bidders (a sort of sealed bids scenario) and then take the highest, name them as the preferred bidder and proceed with the sale?

[B4ev6is]

How do you know festy has left I not seen a thing about that.

[Alty_Ram]

2 minutes ago, Carl Sagan said:

In the previous 1073 pages this may have been covered, but why don't the administrators simply give a final deadline for bidders (a sort of sealed bids scenario) and then take the highest, name them as the preferred bidder and proceed with the sale?

What ? Madness !

[Rev]

48 minutes ago, Curtains said:

Multiple bidders my arse 

£7.50 and you can keep the Vaseline.

[ramboy63]

1 minute ago, Carl Sagan said:

In the previous 1073 pages this may have been covered, but why don't the administrators simply give a final deadline for bidders (a sort of sealed bids scenario) and then take the highest, name them as the preferred bidder and proceed with the sale?

I think they would if they could,these potential buyers are business men at the end of the day and will not pay over the odds for a club that will be potentially in a lower division,if we were relegated by now the deal would of been done and dusted for sure by now,however the longer this drags on the less players we will have at our disposal as most are out of contract at the end of this season and with no buyer in place means no new contacts for them,these are dark times indeed

[Rammy03]

3 minutes ago, B4ev6is said:

How do you know festy has left I not seen a thing about that.

 

[Tamworthram]

17 minutes ago, Gee SCREAMER !! said:

HMRC will be in the driving seat on this one as the main creditor and a preferred one.  If agreements not reached with them it feeds down the chain and those with less debt and less chance of getting should the club liquidate will agree relatively easily.  4  years since I worked there  as I say with this level of liability - although its a rarity.  Based on this 35-40% would be enough with review  plan over 3 years to collect hopefully as much as possible 

Thanks for that and I agree that HMRC are very much the key creditors but, do we know the offer to them is in the range of 35-40%?
 

Also, again - apologies as no offence intended, but you’ve not worked there since the rules were changed and HMRC were promoted to preferred debtors have you? Maybe, they’re playing more hard ball now.

All I’m trying to say is, it may well be the reason for the delay, we don’t actually know it is Mel that is the cause for the delay - either in full or part.

[SaffyRam]

5 minutes ago, B4ev6is said:

How do you know festy has left I not seen a thing about that.

It’s been on radio Derby, including a snippet of Rooney talking about it.

[B4ev6is]

1 minute ago, Rammy03 said:

 

Oh flaming hell

That time to protest against Q 

If they wont hurry up let's force them too.

This our club they are messing with.

[MaltRam]

1 hour ago, Curtains said:

Multiple bidders my arse 

Busy Friday then Curtains.

[Tamworthram]

7 minutes ago, B4ev6is said:

Oh flaming hell

That time to protest against Q 

If they wont hurry up let's force them too.

This our club they are messing with.

How can Q force bidders to increase their offer, creditors to reduce their demands, Mel to reach agreement regarding the stadium or whatever is causing the hold up?

[TomTom92]

17 minutes ago, Carl Sagan said:

In the previous 1073 pages this may have been covered, but why don't the administrators simply give a final deadline for bidders (a sort of sealed bids scenario) and then take the highest, name them as the preferred bidder and proceed with the sale?

I Imagine if they did execute this plan the highest bid would mean -15 in league 1 and admins probably don’t want this on our record. They’re probably hoping we stay up so either the bids go up, other parties come in or -15 in championship it is. 
 
By trying to stay up we’ve probably done ourselves more harm.

[Gee SCREAMER !!]

6 minutes ago, Tamworthram said:

Thanks for that and I agree that HMRC are very much the key creditors but, do we know the offer to them is in the range of 35-40%?
 

Also, again - apologies as no offence intended, but you’ve not worked there since the rules were changed and HMRC were promoted to preferred debtors have you? Maybe, they’re playing more hard ball now.

All I’m trying to say is, it may well be the reason for the delay, we don’t actually know it is Mel that is the cause for the delay - either in full or part.

You'll appreciate I can't go into this much more.  I don't work there now but others do who  have an idea under the current regs,.  I'd back my experience of over 20 years working in taxation -with some statistical work outside for a period- to know regardless.  Mel needs to pay off that loan and take a rent on the ground, not rely on the new buyer to fund his accord by the back door - always the showman 

[B4ev6is]

14 minutes ago, Tamworthram said:

How can Q force bidders to increase their offer, creditors to reduce their demands, Mel to reach agreement regarding the stadium or whatever is causing the hold up?

Well is the fans need to increase the pressure on admin now and help rooney out on this we need to make our feeling clear towards them.

[Zag zig]

35 minutes ago, AndyinLiverpool said:

And all the time the value of the club goes down.

Which is a perfect scenario if you want to get the club on cheap, same goes for the ground. The power is with any potential buyers right now.

Q wanted a bidding war, unfortunately as our chances of championship survival get slimmer, it’s more like a reverse auction, with the bids getting cheaper. Highly doubt they will get much future business, after the “pigs ear” they have made of this process; as I’ve said elsewhere though, they are not to blame for the situation we’re in, just ineffective in fans ambitions to remain in this division.

[GeneralRam]

The slow bleed continues.

Obligatory Mel Morris is a twit. If any of you need reminding.

Edited March 18, 2022 by GeneralRam

[Mucker1884]

Have I mis-read that Q Statement/open letter, or were there a lot more mentions of "You" and "Your" this time?  Are they beginning to distance themselves from the club a bit more, now that their freebie Directors Seats are starting to look less attractive as each game passes?  

[IslandExile]

It's been said by several, in defence of the Administrators, that they cannot force the interested parties to increase their bids.

Fair enough. Perfectly true.

But they have declined bids from Kirchner and the Binnies that, to me, didn't seem that far away from the reported asking price. So, even if it had meant the extra 15 point deduction for not being able to pay the debts in full, at least we would have new owners and a future.