The Administration Thread

[CBRammette]

26 minutes ago, Tamworthram said:

This is another part of the story that doesn't quite add up to me.

I'm dipping deep into my memory of dealing with transferring money abroad so, I'm quite prepared to be corrected.

If my memory serves me correctly, if you want to transfer money from your account (with bank A in the USA) to a recipient (who banks with bank B in the UK) an instruction would go directly between the two banks (of course, no hard cash actually changes hands. They just debit and credit the accounts the banks hold with each other [known as nostro and vostro accounts]).

The only time you'd use a third part bank (known as a correspondent bank) is if bank A did not have a direct relationship with bank B. Even then, they'd use a correspondent bank in the UK not elsewhere in Europe. So, the only scenario whereby I can think the funds transfer instruction would be routed via a third party bank elsewhere in Europe is if bank A was so tiny it didn't have relationships with any UK bank (seems very unlikely)

Sorry if that's a bit technical and, as I say, is subject to my dodgy memory and I guess things may have changed since my day. I hope I'm wrong.

We lived in USA some years ago and we were surprised how locally based some banks were but would have expected CK to be with something bigger. Perhaps he hasnt had to be before and certainly not transfer such large sums. Lets hope all sorted monday/tuesday. Otherwise it will just get more ugly!

[Tamworthram]

15 minutes ago, Carnero said:

https://www.lawsociety.org.uk/topics/anti-money-laundering/quick-guide-to-the-mlrs

Beefed up anti-money laundering regulations came into force in 2017.

I've not read it all but does it suggest funds have to go via a third party bank rather than directly from bank A to bank B for bank B to do the AML checks? I'd be surprised if it does.

[atherstoneram]

2 hours ago, TomG said:

He may have a point, are we getting value for money?

WE are getting nothing, it is irrelevant to us how much the administrators are charging,we are not involved in the process.

[Day]

Hope you are all behaving.

Not been on as much, truthfully, it's just mentally draining so been out for fresh air and alcoholic beverages.

Saw the latest statement on Twitter, whilst I have received no complaints over any of the content on this forum, just wanted to use it as a reminder not to let your anger and frustrations result in abusive/libellous posts made on this forum.

The mods have been doing an incredible job considering the circumstances, without them this platform would not exist so please be nice to them and not make it anymore stressful than it already is. ?

[Tamworthram]

25 minutes ago, Rev said:

Maybe that vote we all had a few years back, on the thing we can't mention, has changed things somewhat? I don't see how, personally, but who knows?

Maybe but I'd be stunned especially given our "special relationship" with the US ?. Seriously though, with neither the US or the UK being in the EU then I can't see it would make any difference at all.

[Gritstone Ram]

Really would like an answer why my poll got took down in English please.

[Boycie]

Just now, Gritstone Ram said:

Really would like an answer why my poll got took down in English please.

Have you looked in the Derby County Section? 

[atherstoneram]

2 hours ago, TexasRam said:

Has Krichner? I have serious doubts, at least with the others (especially Clowes and Ashley) we know they have it. Personally I’d just deal with Ashley now and get it done and dusted. 

No matter how many times people keep saying it,it is not just simple to do a deal with Ashley,unless of course he is prepared to agree to the deal CK agreed to.

[Boycie]

4 minutes ago, Gritstone Ram said:

Really would like an answer why my poll got took down in English please.

Any luck?

[RoyMac5]

8 minutes ago, AndyinLiverpool said:

Fans won't forget. Especially if the one they are pushing wins and it all goes pear-shaped a couple of years down the line. 

Imagine the spectacle of, say, a radio journalist failing to ask those searching questions from inside the owner's pocket.

It's tough to be trusting of owners/potential owners when you've seen the 'Rise and Fall' of so many. Not a book by William L. Shirer. ? 

Edited June 11, 2022 by RoyMac5

[Derbados]

Admins threatening the fans yet again for daring to question them and their performance to date.

First it was that it would harm the takeover process and put off buyers 

Then it was stop questioning us as the delays are YOUR fault 

Now it’s stop questioning us or we’ll bring the lawyers in 

Running the club like a cartel. 

 

 

[Gritstone Ram]

1 minute ago, Boycie said:

Any luck?

No

[Rev]

3 minutes ago, Tamworthram said:

Maybe but I'd be stunned especially given our "special relationship" with the US ?. Seriously though, with neither the US or the UK being in the EU then I can't see it would make any difference at all.

As I've said previously, my wife works for a US banks European branch, and not much seems to have changed.

Although I did ask her how Americans got paid, after it came out CK's company possibly missed a fortnightly payroll, which would be unusual in the UK.

Her employer also pays its US staff fortnightly in arrears, rather than the UK system of monthly pay. 

Not relevant I know, but something I wasn't aware of.

[HoracioCarbonara]

Can I just say most people here have zero idea about complex corporate transactions, to put it it in context and need to just calm down.

 

1. I recently advised on a £120m deal, it closed over 2 months ago, the deal has happened but I can’t raise my invoice because our AML checks are dragging, to reiterate the deal has happened and im still having issues!

 

2. if you are negotiating a deal more often than not you will agree exclusivity which means legally you cannot engage with any other parties, hence Q only started talking to other parties yesterday.

 

corporate deals are complex, most of the people commenting have zero idea and there is nothing you can say or do that will alter the process. Like most people here I’m fan and I understand the emotion but just chill, you can’t change anything and as much as you want to think everyone is messing this up, it’s a difficult deal and I’ve seen far worse, just less emotion because there were no fans involved.

 

[B4ev6is]

10 minutes ago, David said:

Hope you are all behaving.

Not been on as much, truthfully, it's just mentally draining so been out for fresh air and alcoholic beverages.

Saw the latest statement on Twitter, whilst I have received no complaints over any of the content on this forum, just wanted to use it as a reminder not to let your anger and frustrations result in abusive/libellous posts made on this forum.

The mods have been doing an incredible job considering the circumstances, without them this platform would not exist so please be nice to them and not make it anymore stressful than it already is. ?

Hear hear david

[Boycie]

2 minutes ago, Gritstone Ram said:

No

This one?

[Gritstone Ram]

17 minutes ago, Boycie said:

Back up now init? Minus the un wanted remarks.  

Sorry I didn’t know there was. If you could point them out to me it would help me not make the same mistake. Sorry I’m advance.

[Comrade 86]

2 hours ago, jono said:

Could be, but there must surely be their professional body in the first instance. There’s the bar council and the law society for lawyers .. What is it for insolvency practitioners ?  That port of call comes before the ombudsman I would have thought ? 

It's the IPC which is the body I suggested as needing to have a good look at Quantuma last night:

The Insolvency Practices Council (IPC) came into being in the Spring of 2000 as a result of the recommendations of a report published by The Insolvency Regulation Working Party. In particular, the Working Party concluded that professional and ethical standards as an element of regulation should be influenced by external contributions. As a result of this recommendation the IPC was created as the institutional mechanism to carry out this work.

Its remit is to investigate and examine the ethical and professional standards of he insolvency profession, put proposals to the bodies that represent the profession and make recommendations for their consideration. It also considers whether standards are being adopted, observed and enforced. It works closely with the Joint Insolvency Committee (JIC), which is the voice of the recognised Professional Bodies (RPBs) who are required to cooperate with the IPC.

Sadly, though I've no expertise at all in this field, my instinct is that they seem a toothless bunch whose formation was needed to assuage fears that IP firms were effectively unmonitored and unfettered and acting unscrupulously as a consequence. Quite how much has changed since their inception is open to debate, though it could be argued that it's very little. I'm afraid it's an area of finance that appears even more murky for examination but then that could be said of much of the UK's finance sector what with the UK being, by quite a stretch, the money-laundering capital of the world.

[Ghost of Clough]

3 hours ago, Barney1991 said:

How is it 30 million when kirchners bid is 21 without points penalty. 

£21m presumably would be without football creditors, as they'd fall on set dates or upon certain situations such as promotion to the PL.

[alram]

I am sick to death of seeing alan nixons tweets in this thread. hes become the most frequent poster

The guy is clueless and has been continuiously wrong throughout this process, hes spent the last day backtracking and changing his story to suit the facts yet people still claim he is reliable

why are people even giving him the attention he so desperately craves and makes people pay for now by the way.

sick of him, sick of the admins, sick of mel morris, sick of everyone involved in this shambles. 

Edited June 11, 2022 by alram