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The Administration Thread


Boycie

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1 hour ago, duncanjwitham said:

What security do they have (in terms of charges against club property etc)? If the answer is "none", they are by definition unsecured.

As Secondary Preferential Creditors, in law, they can demand to be paid in full after Primary Preferential Creditors (MSD & Employees) for all debts comprising VAT, PAYE, NICs etc. Of course, the Football Creditors rule means that, if the club is sold as a going concern, they slip back further in the ranking, unless they want to fight another court case. What may focus their minds is that, were the club to be liquidated, they're unlikely to see a penny after MSD have had their cut. The nay-sayers have alleged all along that HMRC won't compromise but, of course, that's what the nay-sayers want to believe and they MAY end up being disappointed.

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3 minutes ago, Gaspode said:

My only concern with Appleby is where the money is coming from - has he got serious backers who are in it for the long-term?

Apparently he is the face of whomever is backing. We just need the club to recover and then be run properly. 

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1 minute ago, PistoldPete said:

Except he wasn’t raring to go in January thanks to Gibson. I don’t know why he wasn’t raring to go in February after Gibson went away but hey ho I think Appleby could be back again if Nat is right. 

If Ashley's comments hold any water, then I imagine Appleby was still raring to go but being met by the silent brick wall that the admins have been doing an excellent job of impersonating.

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